Tom Lipkis, WalletHub Credit Card Consultant
@cindercard
The best low APR secured credit card is the Amazon.com Secured Credit Card because its regular APR of 10% is among the lowest rates available to customers with bad credit. Cardholders need to put down a minimum security deposit of $100. The Amazon.com Secured Credit Card has a $0 annual fee.
The Applied Bank® Secured Visa® Gold Preferred® Credit Card (9.99% regular APR) and the OakStone Secured Mastercard® Platinum Credit Card (14.74% (V) regular APR) are also good options. In case of variable regular APR, the actual rate depends on overall creditworthiness.
Best Low APR Secured Credit Cards of 2023
It’s worth pointing out that carrying a balance on a secured card doesn’t make much sense. You can’t buy anything that you wouldn’t be able to afford without the secured card, since your spending limit is equal to the amount of your deposit. In theory, you could just pay in cash and avoid having to pay interest to the credit card company.
On the other hand, you may need a secured card to rebuild damaged credit. In this case, a low APR secured credit card is better than one with a high APR if you do wind up carrying a balance from month to month because of temporary cash flow issues. But if getting a low APR means having to pay an annual fee, you might be better off with a card that has a slightly higher rate but no fee.
You can use WalletHub’s credit card payoff calculator to estimate your potential interest costs and figure out which card terms will save you the most money. You can also check out our guide on how to improve your credit score, which can help you gain access to better low APR credit cards in the future.

Popular Secured Credit Cards
Compare CardsDerek Sanders, Member
@sapphire_fan
If you absolutely want a no-annual-fee card, the Capital One Platinum Secured Credit Card is a good secured card from a major issuer. However, the APR is quite high, at 29.99% (V).
george_gomez, Member
@george_gomez
Yeah, the First Progress Platinum Prestige Mastercard® Secured Credit Card has one of the lowest interest rates. To be fair, they're secured cards, so you're not going to get incredible deals (like intro periods).
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