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Best Secured Credit Cards
WalletHub makes it easy to find the best secured credit card.
Secured cards are great for people with bad credit or limited credit because they offer high approval odds and report information to the major credit bureaus every month. Secured cards are also much cheaper than unsecured credit cards for bad credit.… show more… show more
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Capital One Platinum Secured Credit Card Capital One Platinum Secured Credit Card

- No annual or monthly fees
- Starting credit line $200
- Great for credit-building
- No rewards
- Higher-than-average interest rate
- No annual or hidden fees. See if you're approved in seconds
- Building your credit? Using the Capital One Platinum Secured card responsibly could help
- Put down a refundable security deposit starting at $49 to get a $200 initial credit line
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- Get access to your account 24 hours a day, 7 days a week with online banking to access your account from your desktop or smartphone, with our mobile app
- See More Details & Reviews About TheCapital One Platinum Secured Credit Card
Secured Sable ONE Credit Card Secured Sable ONE Credit Card

- NEW! Get a dollar-for-dollar match on all cash back at the end of your first year with Sable Double Cash Bonus.
- Earn 2% cash back on everyday purchases at Amazon, Uber, Uber Eats, Whole Foods, Netflix, Spotify, and more! Plus, earn 1% cash back on all other purchases.
- No membership fees
- High rewards rate
- Low regular APR
- Qualify with limited or no credit history
- No rewards bonus
- Foreign fee
- Requires security deposit
- Auto-review to unsecured card in as FAST as 4 months, 3X faster than anywhere else with Sable’s graduation promise.
- Up to $10,000 credit limit
- No credit check or US credit history required.
- No SSN required for non US citizens.
- Build US credit history FAST. Sable offers enhanced reporting on more data points than any other card so you can build your credit faster.
- Premium benefits like coverage in the event your covered cell phone is stolen or damaged (including cracked screens!), rental car insurance, and much more!
- Please see terms and conditions for additional details.
- See More Details & Reviews About TheSecured Sable ONE Credit Card
Discover it® Secured Credit Card Discover it® Secured Credit Card
- Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
- No annual or monthly fees & No fees for account opening
- Up to 2% cash back
- First-year rewards doubled
- Relatively low minimum deposit
- High regular APR
- No credit score required to apply.*
- No Annual Fee, earn cash back, and build your credit with responsible use.
- Using your secured credit card helps build a credit history with the three major credit bureaus. Generally, prepaid and debit cards can’t do that.
- Establish your credit line with your tax return by providing a refundable security deposit of at least $200. That means a $200 deposit for a $200 credit line. Or a $500 deposit for a $500 credit line. Bank information must be provided when submitting your deposit, and the security deposit equals your credit limit.
- Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.*
- Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
- Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
- Click "APPLY NOW" to see rewards, FICO® Credit Score terms, Cashback Match™ details & other information.
- See More Details & Reviews About TheDiscover it® Secured Credit Card
OpenSky® Secured Visa® Credit Card OpenSky® Secured Visa® Credit Card

- Reasonable $35 annual fee
- $200 minimum deposit
- 3% foreign transaction fee
- No credit check to apply and find out instantly if you are approved.
- OpenSky gives everyone an opportunity to improve their credit with an 85% average approval rate for the past 5 years
- Get considered for a credit line increase after 6 months, with no additional deposit required
- You could be eligible for the OpenSky Gold Unsecured Card after as few as 6 months
- Reports to all 3 major credit bureaus monthly, unlike a prepaid or debit card
- Nearly half of OpenSky cardholders who make on-time payments improve their FICO score 30+ points in the first 3 months
- Your refundable* deposit, as low as $200, becomes your OpenSky Visa credit limit
- Easy application, apply in less than 5 minutes right from your mobile device
- Offer flexible payment due dates which allow you to choose any available due date that fits your payment schedule
- * View the cardholder agreement
- See More Details & Reviews About TheOpenSky® Secured Visa® Credit Card
Capital One Quicksilver Secured Cash Rewards Credit Card Capital One Quicksilver Secured Cash Rewards Credit Card

- No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
- Great rewards
- No annual fee
- Relatively low minimum deposit
- Qualify with limited credit history
- High interest rate
- Put down a refundable $200 security deposit to get a $200 initial credit line
- Building your credit? Using a card like this responsibly could help
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- See More Details & Reviews About TheCapital One Quicksilver Secured Cash Rewards Credit Card
First Progress Platinum Prestige Mastercard® Secured Credit Card First Progress Platinum Prestige Mastercard® Secured Credit Card

- Low regular APR
- Qualify with limited or no credit history
- Membership fees
- No rewards
- No rewards bonus
- Foreign fee
- Receive Your Card More Quickly with New Expedited Processing Option
- No Credit History or Minimum Credit Score Required for Approval
- Quick and Complete Online Application; No credit inquiry required!
- Includes Free Real-Time Access to Your Credit Score and Ongoing Credit Monitoring powered by Experian
- Full-Feature Platinum Mastercard® Secured Credit Card; Try our new Mobile App for Android users!
- Good for Car Rental, Hotels; Anywhere Credit Cards Are Accepted!
- Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
- Credit Line Secured by Your Fully-Refundable Deposit of $200 -- $2,000 Submitted with Application
- Just Pay Off Your Balance and Receive Your Deposit Back at Any Time
- 24/7 Online Access to Your Account
- Nationwide program; available in all 50 US states *See Card Terms.
- Get a fresh start! A discharged bankruptcy still in your credit bureau file will not cause you to be declined.
- See More Details & Reviews About TheFirst Progress Platinum Prestige Mastercard® Secured Credit Card
PCB Secured Visa® Credit Card PCB Secured Visa® Credit Card
- Qualify with limited or no credit history
- Membership fees
- No rewards
- No rewards bonus
- High Regular APR
- Upon credit approval, the collateral deposit you provide becomes the credit limit on your Visa® card. Choose between $200 and $1,000.
- A minimum collateral deposit of $200 is required to open this account.
- After the first year, you can request to increase the credit limit up to a maximum of $5,000 (subject to credit approval and additional collateral deposits).
- This card is perfect for people new to credit as well as people looking to rebuild their credit.
- Reports monthly to all three major credit bureaus.
- Build or rebuild your credit by keeping your balances low and paying all creditors on time every month.
- 24/7 online account center.
- This card is issued by Plains Commerce Bank pursuant to a license from Visa U.S.A., Inc.
- See Rates, Fees, Costs and Limitations for additional details
- See More Details & Reviews About ThePCB Secured Visa® Credit Card
Applied Bank® Secured Visa® Gold Preferred® Credit Card Applied Bank® Secured Visa® Gold Preferred® Credit Card

- Low regular APR
- Qualify with bad credit
- Membership fees
- No rewards
- No rewards bonus
- Foreign fee
- Better than Prepaid...Go with a Secured Card! Load One Time - Keep On Using
- Absolutely No Credit Check or Minimum Credit Score Required
- Automatic Reporting to All Three National Credit Bureaus
- 9.99% Low Fixed APR - Your Rate Won’t Go Up Even if You Are Late
- Activate Today with a $200 Minimum Deposit - Maximum $1,000.
- Increase Your Credit Limit up to $5,000 by Adding Additional Deposits Anytime
- See More Details & Reviews About TheApplied Bank® Secured Visa® Gold Preferred® Credit Card
OakStone Secured Mastercard® Gold Credit Card OakStone Secured Mastercard® Gold Credit Card

- Credit lines available from $200 to $5,000! Low 14.24% variable interest rate on purchases - with no penalty rate!
- No minimum credit score requirements! We invite all credit types to apply! No processing or application fees!
- Includes Free Real-Time Access to Your Credit Score and Ongoing Credit Monitoring powered by Experian
- Helps strengthen your credit with responsible card use. Reports to three national bureaus
- Fast, easy application process. Choose your credit line and open your Personal Savings Deposit Account to secure your line.
- Nationwide program; available in all 50 US states *See Card Terms.
- Get a fresh start! A discharged bankruptcy still in your credit bureau file will not cause you to be declined.
- See website for additional Oakstone Gold Secured Mastercard® details
- See More Details & Reviews About TheOakStone Secured Mastercard® Gold Credit Card
The First Progress Platinum Elite Mastercard® Secured Credit Card The First Progress Platinum Elite Mastercard® Secured Credit Card

- Low membership fees
- Qualify with limited or no credit history
- No rewards
- No rewards bonus
- High Regular APR
- Foreign fee
- Receive Your Card More Quickly with New Expedited Processing Option
- No Credit History or Minimum Credit Score Required for Approval
- Quick and Complete Online Application; No credit inquiry required!
- Includes Free Real-Time Access to Your Credit Score and Ongoing Credit Monitoring powered by Experian
- Full-Feature Platinum Mastercard® Secured Credit Card; Try our new Mobile App for Android users!
- Good for Car Rental, Hotels; Anywhere Credit Cards Are Accepted!
- Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
- Credit Line Secured by Your Fully-Refundable Deposit of $200 -- $2,000 Submitted with Application
- Just Pay Off Your Balance and Receive Your Deposit Back at Any Time
- 24/7 Online Access to Your Account
- Nationwide program; available in all 50 US states *See Card Terms.
- Get a fresh start! A discharged bankruptcy still in your credit bureau file will not cause you to be declined.
- See More Details & Reviews About The First Progress Platinum Elite Mastercard® Secured Credit Card
Best Secured Credit Cards in 2022

Discover it® Secured Credit Card
The best secured credit card is the Discover it Secured Credit Card because it has a $0 annual fee and gives 1% - 2% cash back in rewards on purchases. That’s a rare combination among credit cards for people with bad credit, and Discover adds to the appeal by doubling the rewards you earn in the first 12 months.
WalletHub’s editors give Discover it Secured Credit Card a rating of 5/5. This card is available to people with bad credit or no credit.
Secured Sable ONE Credit Card
The Secured Sable ONE Credit Card is great for people with poor credit who are concerned about being rejected when they apply for a credit card. It has no credit check, so approval does not depend on your credit history and there’s no hard inquiry on your credit report. The main approval requirement is having enough income to afford monthly bill payments as well as a refundable security deposit of at least $10.
The Sable Credit Card has a $0 annual fee and attractive rewards. Cardholders get 1 - 2% cash back, plus a bonus equal to whatever they earn the first year. WalletHub’s editors give the card 4.8/5 stars.
Citi® Secured Mastercard®
Citi’s secured card is a solid choice for beginners with limited or no credit who are looking for a secured credit card with a low deposit and no annual fee. The minimum deposit requirement is $200.
The Citi Secured Card does not offer rewards, but it is the easiest Citi credit card to get. WalletHub’s editors give Citi Secured a rating of 4.6/5.
Capital One Quicksilver Secured Cash Rewards Credit Card
The Capital One Quicksilver Secured is a secured credit card perfect for people who want to build credit at a low cost. It requires a refundable security deposit of $200. Plus, the annual fee is $0, and cardholders earn 1.5% cash back on all purchases.Bank of America® Customized Cash Rewards Secured Credit Card
The best secured credit card from Bank of America is the Bank of America® Customized Cash Rewards Secured Credit Card because it has a $0 annual fee and offers very good rewards. Cardholders earn 1 - 3% cash back on purchases.
The minimum deposit required for this card is $300. Overall, WalletHub’s editors give the Bank of America Custom Cash Secured Card a rating of 4.5 / 5.
Wells Fargo Business Secured Credit Card
The best secured business credit card available right now is the Wells Fargo Business Secured Credit Card. It has a $0 annual fee. It also gives 1.5% cash back in rewards on purchases.
The minimum security deposit for the Wells Fargo Business Secured Credit Card is $500. WalletHub’s editors give the card a rating of 3/5.
There aren’t too many secured business credit cards on the market at the moment. So you may want to consider a general-consumer secured card for business expenses if you want more options.
Best Secured Credit Cards Comparison
Credit Card | Best For | Security Deposit |
Discover it® Secured Credit Card | Overall | $200 |
Secured Sable ONE Credit Card | No Credit Check | $10 |
Citi® Secured Mastercard® | Beginners | $200 |
Capital One Quicksilver Secured Cash Rewards Credit Card | Capital One | $200 |
Bank of America® Customized Cash Rewards Secured Credit Card | Bank of America | $300 |
Wells Fargo Business Secured Credit Card | Small Business | $500 |
At the end of the day, the best secured credit card to build credit with is the cheapest one that you can get approved for. A secured card’s deposit is fully refundable, after all, and your top priority should be to build credit inexpensively. Fortunately, there are more no-fee (or low-fee) secured credit cards to build credit with now than ever.
You should be able to qualify for a decent unsecured card in about a year’s time if you use your secured credit card responsibly. Responsible use generally means on-time monthly payments and not maxing out your spending limit. You can keep close tabs on your progress and see where improvements are needed by checking out your WalletHub Credit Analysis page.
Key Things to Know About Secured Cards
Secured credit cards are credit cards for people with limited or bad credit that require users to place a refundable security deposit, the amount of which becomes the account’s spending limit. This reduces the risk for secured credit card issuers, making such cards easier to get than unsecured credit cards. Those are the main differences between secured and unsecured credit cards, however.
Secured cards report to the major credit bureaus each month, just like unsecured cards. You actually can’t tell them apart on credit reports. So they can help you build credit just the same.
There’s more you should know about getting and using secured cards, too. We’ll highlight some important areas below.
- Secured credit card requirements
- Secured credit card benefits
- Secured credit card refundable deposit
- Secured credit cards for bad credit
- Secured credit card tips
Secured credit card requirements
Secured credit card requirements vary by credit card company. The most common requirements are being at least 18 years old, living in the U.S., having enough income to afford the refundable security deposit along with monthly bill payments, and not having a pending bankruptcy case. There is no age requirement to become an authorized user on a secured card.Secured credit card benefits
The main benefits of a secured credit card are high approval odds (even with limited or bad credit), low fees, and monthly reporting to the major credit bureaus. Some secured credit cards also offer rewards. And like all credit cards, secured cards give users a $0 fraud liability guarantee for unauthorized transactions.Secured credit card refundable deposit
Most secured credit cards require a refundable deposit of at least $200 or $300, either at the time of application or before account opening. The amount of this deposit becomes the account’s spending limit. The deposit is refunded if an applicant is not approved for a secured credit card account or when a cardholder closes his or her account after paying off any balance owed. Some secured credit card issuers may also return the deposit as a reward for cardholders who manage their account responsibly.Secured credit cards for bad credit
A secured credit card is the best type of card for people with bad credit. Secured cards are easier to get approved for than unsecured credit cards for poor credit, and they also have much lower fees. Secured credit cards have no minimum credit score needed for approval. Some don’t even do a credit check on new applicants.Secured credit card tips
There are 3 important tips for secured credit card users to remember: 1) Always pay your monthly bill on time in order to build positive credit history; 2) Pay your monthly bill in full whenever possible to avoid interest; and 3) Try to keep your statement balance below 30% of your spending limit. If you follow these tips for using a secured credit card responsibly, you should be able to qualify for a decent unsecured card in about a year’s time. You can keep close tabs on your progress and see where improvements are needed by checking out your WalletHub Credit Analysis page.Methodology for Selecting the Best Secured Cards
WalletHub’s editors compared dozens of secured credit cards based on their fees, deposit requirements, rewards and other factors. This helped us select the market’s best secured credit card offers for different types of applicants.
Above all else, fees are the most important thing to consider when comparing secured credit cards. Unlike its security deposit, a secured card’s fees are non-refundable. Besides, saving money while building credit is crucial. Other than fees, specific approval requirements are especially important to consider, as a card you can’t get won’t do you much good. Rewards are also good to use as a tiebreaker, as long as you plan to pay your bill in full each month, which is necessary to avoid interest charges. WalletHub’s editors took these types of calculations into account when making their selections, and it’s important for you to do the same.
For more information about using secured cards to build credit, check out our guides on how secured cards work and the best way to improve your credit score.
About the author
John Kiernan has covered the credit card industry for more than 10 years as a writer and editor for WalletHub. His work has been featured by major media outlets such as The Washington Post and The New York Times and has been cited by industry regulators such as the Consumer Financial Protection Bureau. Read Full Author Bio
Secured Credit Cards FAQ
Comparing secured credit cards can be tough. But you’ve got the knowledgeable WalletHub community on your side. We encourage everyone to share their knowledge while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not the financial institution’s responsibility to ensure all posts and questions are answered.show more
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Featured Credit Cards
Ask the Experts
Secured credit cards are among the most important, underrated financial products out there. They give people with damaged credit a lifeline to a brighter financial future, and they do so at a limited cost. For more insights into the pivotal role that secured cards play in the personal finance landscape, we posed the following questions to a panel of leading industry experts. You can check out who they are and what they had to say below.
- Do banks and credit unions make money off the security deposits from secured credit cards?
- Why don't more secured credit cards pay interest on your security deposit?
- Why aren't there more secured credit cards available?
- How does a secured credit card with no annual fee make the issuer money?
Chair and Associate Professor, Department of Finance, University at Buffalo School of Management
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Ph.D., Assistant Professor of Economics, Tillman School of Business, University of Mount Olive
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Ph.D., Lecturer, University of North Texas - College of Liberal Arts & Social Sciences, Department of Economics
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Associate Professor of Finance, Bisk College of Business, Florida Institute of Technology
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CPA/MBA/CGMA, Associate Professor of Business & Accounting, Wilson College
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Professor of Finance, The University of Tennessee at Martin
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We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. Actual terms may vary. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.
† Approval Odds are WalletHub estimates intended to gauge your likelihood of approval for a particular product. Approval Odds are based on WalletHub data and are not provided or endorsed by the lender. Approval Odds are not meant to imply or guarantee that you will be approved by the lender or that credit will be extended. WalletHub may share your information with third-parties in order to show personalized offers, as well as enable you to interact more easily with pre-fill forms or applications. You can opt-out of sharing your personal info here.
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