Frieda Reiss, WalletHub Credit Card Analyst
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Your starting First Premier Secured credit card credit limit will be $200, but the annual fee will be assessed immediately, giving you $150 in available credit. You cannot get a bigger limit if you deposit more and you will have to wait for 13 months to get an increase.
After the first year, your annual fee will be charged in monthly installments.
That being said, there are far better options out there that do not charge an annual fee. Capital One Quicksilver Secured Cash Rewards Credit Card, Bank of America® Unlimited Cash Rewards Secured Credit Card and Capital One Platinum Secured Credit Card are among the best.
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