Are there any HSBC secured credit cards?

One of the best secured credit cards to rebuild credit with is the Capital One Quicksilver Secured Cash Rewards Credit Card because it has a $0 annual fee, reports to the credit bureaus, and gives 1.5 - 5% cash back on all purchases. The minimum deposit is $200, and the amount you put down will act as your credit limit.

Another good option is the OpenSky® Secured Visa® Credit Card. It doesn’t even require a credit check when you apply, which makes it great for rebuilding really bad credit. Or, if you want to enjoy some perks while you rebuild, the U.S. Bank Altitude® Go Visa® Secured Card offers 1 - 4 points per $1 spent on purchases.... read full answer

Some of the Best Secured Credit Cards to Rebuild Credit

To be clear, all major secured credit cards can help you rebuild your credit. They all report account information to the major credit bureaus every month. Also, all those with low annual fees and low deposit requirements are in the running for the top spot. But the cards listed above bring something special to the table.

How to Rebuild Credit with a Secured Credit Card

Choosing the best secured credit card to rebuild credit is only the first step toward actually rebuilding. You must also use that card responsibly month after month so that positive information flows to the credit bureaus. Regularly adding positive information to your credit reports gradually covers up negative records from the past.

Your card will report positive information as long as you pay your bill on time every month. Using less than 30% of your spending limit each month or paying multiple times per month can help, too. But if you really want to rebuild your credit, you’ll need to get the rest of your finances in order as well. That means paying down debt, catching up on past-due accounts and steering clear of collections accounts.

For the majority of the HSBC credit cards at least a good (700+) or excellent (750+) credit score is needed.

The only exception is the HSBC Cash Rewards Mastercard Student Account which you can get with a fair (640+) credit score, but also a limited credit history.

HSBC will also take other things into consideration when deciding about your application, such as your income, debts or overall creditworthiness.... read full answer

There are plenty of banks and credit unions that offer secured credit cards, including Bank of America, Capital One, and Citibank.

Major Banks That Offer Secured Credit Cards

• Bank of America
• Capital One
• Citibank
• USAA
• U.S. Bank
• Truist Bank
• PNC Bank

A number of smaller banks and credit unions offer secured credit cards, too. They include ... read full answerCapital Bank, First Progress, and Applied Bank, among others. The major banks that do not offer secured cards are American Express, Barclays, Chase, and Synchrony Bank.

Keep in mind that it’s not a secured credit card’s issuer that really matters. Your goal should be to find the card with the lowest possible annual fee, no matter who offers it. And you can achieve that goal by comparing secured credit cards using WalletHub's free comparison tool. You can also try our free CardAdvisor to get a personalized recommendation based on your answers to a few simple questions.