Best Secured Credit Cards of December 2024
Updated: Nov 8, 2024+ 2 more+ 2 more
Whether you're building credit from scratch or rebuilding after a setback, a secured credit card can help. Secured cards require a cash security deposit, usually equal to your credit line, which makes them easier to qualify for. Keep your balance low and pay on time every month, and you can begin strengthening your credit.
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NerdWallet's credit cards content, including ratings and recommendations, is overseen by a team of writers and editors who specialize in credit cards. Their work has appeared in The Associated Press, USA Today, The New York Times, MarketWatch, MSN, NBC's "Today," ABC's "Good Morning America" and many other national, regional and local media outlets. Each writer and editor follows NerdWallet's strict guidelines for editorial integrity.
Whether you're building credit from scratch or rebuilding after a setback, a secured credit card can help. Secured cards require a cash security deposit, usually equal to your credit line, which makes them easier to qualify for. Keep your balance low and pay on time every month, and you can begin strengthening your credit.
Why trust NerdWallet
400+ credit cards reviewed by our team of experts (See our top picks)
80+ years of combined experience covering credit cards and personal finance
27,000+ hours spent researching and reviewing financial products in the last 12 months
Objective comprehensive ratings rubrics (Methodology)
NerdWallet's credit cards content, including ratings and recommendations, is overseen by a team of writers and editors who specialize in credit cards.
Their work has appeared in The Associated Press, USA Today,
The New York Times, MarketWatch, MSN, NBC's "Today," ABC's "Good Morning America"
and many other national, regional and local media outlets.
Each writer and editor follows NerdWallet's strict guidelines for editorial integrity.
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Whether you're building credit from scratch or rebuilding after a setback, a secured credit card can help. Secured cards require a cash security deposit, usually equal to your credit line, which makes them easier to qualify for. Keep your balance low and pay on time every month, and you can begin strengthening your credit.
Why trust NerdWallet
400+ credit cards reviewed by our team of experts (See our top picks)
80+ years of combined experience covering credit cards and personal finance
27,000+ hours spent researching and reviewing financial products in the last 12 months
Objective comprehensive ratings rubrics (Methodology)
NerdWallet's credit cards content, including ratings and recommendations, is overseen by a team of writers and editors who specialize in credit cards. Their work has appeared in The Associated Press, USA Today, The New York Times, MarketWatch, MSN, NBC's "Today," ABC's "Good Morning America" and many other national, regional and local media outlets. Each writer and editor follows NerdWallet's strict guidelines for editorial integrity.
Whether you're building credit from scratch or rebuilding after a setback, a secured credit card can help. Secured cards require a cash security deposit, usually equal to your credit line, which makes them easier to qualify for. Keep your balance low and pay on time every month, and you can begin strengthening your credit.
Why trust NerdWallet
400+ credit cards reviewed by our team of experts (See our top picks)
80+ years of combined experience covering credit cards and personal finance
27,000+ hours spent researching and reviewing financial products in the last 12 months
Objective comprehensive ratings rubrics (Methodology)
NerdWallet's credit cards content, including ratings and recommendations, is overseen by a team of writers and editors who specialize in credit cards. Their work has appeared in The Associated Press, USA Today, The New York Times, MarketWatch, MSN, NBC's "Today," ABC's "Good Morning America" and many other national, regional and local media outlets. Each writer and editor follows NerdWallet's strict guidelines for editorial integrity.
Why trust NerdWallet
400+ credit cards reviewed by our team of experts (See our top picks)
80+ years of combined experience covering credit cards and personal finance
27,000+ hours spent researching and reviewing financial products in the last 12 months
Objective comprehensive ratings rubrics (Methodology)
NerdWallet's credit cards content, including ratings and recommendations, is overseen by a team of writers and editors who specialize in credit cards. Their work has appeared in The Associated Press, USA Today, The New York Times, MarketWatch, MSN, NBC's "Today," ABC's "Good Morning America" and many other national, regional and local media outlets. Each writer and editor follows NerdWallet's strict guidelines for editorial integrity.
NerdWallet's Best Secured Credit Cards of December 2024
Chime Secured Credit Builder Visa® Credit Card: Best for Easy account management
Discover it® Secured Credit Card: Best for Rewards, bonus offer & upgrading
Capital One Quicksilver Secured Cash Rewards Credit Card: Best for Rewards and upgrading
Capital One Platinum Secured Credit Card: Best for Low deposit
Secured Self Visa® Credit Card: Best for No upfront deposit or hard credit check
OpenSky® Plus Secured Visa® Credit Card: Best for No credit check + no annual fee
OpenSky® Secured Visa® Credit Card: Best for No credit check + lower deposit
Firstcard® Secured Credit Builder Card: Best for International students and immigrants
DCU Visa® Platinum Secured Credit Card: Best for Low fees and interest
Credit Builder Secured Visa® Credit Card: Best for Adjustable credit limit
Navy Federal Credit Union® nRewards® Secured Credit Card: Best for Military
Show SummaryHide Summary
Best Secured Credit Cards
Credit card | NerdWallet rating | Annual fee | Intro APR | Regular APR | Learn more |
---|---|---|---|---|---|
Apply Now on Chime's website on Chime's website | Best for Easy account management | $0 | N/A | N/A | Apply Now on Chime's website on Chime's website |
Apply Now on Capital One's website on Capital One's website | Best for Rewards and upgrading | $0 | N/A | 29.99% Variable APR | Apply Now on Capital One's website on Capital One's website |
Apply Now on Self's website on Self's website | Best for No upfront deposit or hard credit check | $25 | N/A | 28.74% Variable | Apply Now on Self's website on Self's website |
Apply Now on Capital One's website on Capital One's website | Best for Low deposit | $0 | N/A | 29.99% Variable APR | Apply Now on Capital One's website on Capital One's website |
Apply Now on Discover's website, on Discover's website, or call 800-347-0264 | Best for Rewards, bonus offer & upgrading | $0 | 10.99% intro APR on Balance Transfers for 6 months | 27.74% Variable APR | Apply Now on Discover's website, on Discover's website, or call 800-347-0264 |
Apply Now on Capital Bank's website on Capital Bank's website | Best for No credit check + no annual fee | $0 | N/A | 29.49% Variable APR | Apply Now on Capital Bank's website on Capital Bank's website |
Apply Now on Capital Bank's website on Capital Bank's website | Best for No credit check + lower deposit | $35 | N/A | 25.14% Variable APR | Apply Now on Capital Bank's website on Capital Bank's website |
Apply Now on Firstcard's website on Firstcard's website | Best for International students and immigrants | $4.99-$12.99 monthly or $48-$120/year depending on subscription plan | N/A | N/A | Apply Now on Firstcard's website on Firstcard's website |
Best for Low fees and interest | $0 | N/A | 16.25% Variable | ||
Best for Adjustable credit limit | $0 | N/A | 25.99% Fixed APR | ||
Best for Military | $0 | N/A | 18.00%, Variable |
Find the right credit card for you.
Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.
Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.
Our pick for: Easy account management
Card details
- The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.
- No credit check to apply, no annual fees or interest⁴, and no minimum security deposit required.³ No stress! Additional terms apply.
- Use your secured Credit Builder card everywhere Visa credit cards are accepted, including on everyday purchases, such as gas and groceries.
- Help build your credit history with your own money. The money you move into the Credit Builder secured account is the amount you can spend on your card (no minimum deposit required!).³ Turn on Safer Credit Building² and have your monthly balance automatically paid on time. Chime will report your activities to Transunion®, Experian®, and Equifax®.
- Increase your credit scores by an average of 30 points, with regular, on-time payments.¹
- Turn on transaction notifications to receive real-time transaction alerts. Then, use Chime’s instant in-app disable card feature to help prevent unauthorized activities.
- Live support 24/7 to assist you around the clock.
- Now you can use your Credit Builder card fee-free at over 60K+ in-network ATMs at retailers like Walgreens®, CVS®, and more! Out-of-network ATM withdrawal fees may apply except at Moneypass ATMs in 7-Eleven® locations, or any Allpoint® or Visa Plus Alliance ATMs.
- Apply for a secured Chime Credit Builder Visa® Credit Card once you have an active Chime Checking Account. See www.chime.com to learn more.
NerdWallet's take
The Chime Secured Credit Builder Visa® Credit Card has no minimum deposit requirement, charges neither an annual fee nor interest, and doesn't require a credit check, and you can automate your payments so you're never late. But to get it, you must be a Chime® banking customer.
Instead of a security deposit, the card is backed by the money in a linked account, which you can add to at any time. The card won't let you spend any more than you have in the account, and when your payment is due, you can have the money taken from the account automatically. In a way, it works like a prepaid debit card, but unlike a prepaid card, it helps build credit. No credit check required to apply.
The safety precautions that make it an excellent tool for building credit can also get in the way of learning how to handle credit responsibly. Any card you graduate to will work quite differently. Chime has been the subject of multiple complaints related to the way it freezes customers' funds.
Our pick for: Rewards and upgrading
Rewards breakdown
Card details
- 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
- 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
- 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
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- View Rates & Fees
NerdWallet's take
The Capital One Quicksilver Secured Cash Rewards Credit Card offers the ability to build or rebuild credit while also enjoying a simple, straightforward rewards rate.
The $0-annual-fee card earns 1.5% cash back on most purchases — a decent rate even among unsecured cards. It offers an automatic credit limit review after six months and a possible upgrade path to a traditional, unsecured card with Capital One. Plus, you'll earn 5% cash back on hotels and rental cars booked through Capital One Travel.
As with all secured cards, an upfront deposit is required. The $200 minimum might be a tough hurdle for some to clear.
Our pick for: No upfront deposit or hard credit check
Card details
- One of the lowest deposit in the industry ($100).
- Users can micro-pay their way to a deposit (as low as $25/mo). Sample loans: $25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR. See self.inc/pricing.
- $25 annual fee.
- Monthly credit limit increases.
- Applying won't impact your credit.
- Reports to all three bureaus.
- Start with a Credit Builder Account**.
- Make at least 3 monthly payments on time, have $100 or more in savings progress in your CreditBuilder Account, satisfy income requirements, and be in good standing. Then, you’ll be eligible for the Secured Self Visa® Credit Card.
- Card eligibility: Active Credit Builder Account in good standing, 3 on time payments, $100 or more in savings progress and satisfying income requirements. Criteria subject to change.
- Your savings progress from your Credit Builder Account acts as your security deposit for your secured Credit Card.
- *The secured Self Visa® Credit Card is issued by Lead Bank or First Century Bank, N.A., each Member FDIC.
- **Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., First Century Bank, N.A., each Member FDIC. Subject to credit approval.
NerdWallet's take
The Secured Self Visa® Credit Card offers those with no credit or poor credit a unique path to establishing a credit history. Unlike typical secured cards, it doesn't require an upfront security deposit or a hard credit check. But it does make you jump through some hoops that other secured cards don't.
Instead of requiring a traditional deposit, this card has you open a Self Credit Builder Account and make regular payments on a secured installment loan. (See our review for more detail on how it works.) Your payments essentially go into a certificate of deposit; once you have enough saved up with Self, you can use that money as a deposit on the card. The minimum deposit is just $100, lower than on most secured cards. There's no hard credit check, either.
There's an annual fee of $25. And there's no sugar-coating it: The process of opening the Credit Builder Account, making payments and then funding the card deposit is complicated. But for those struggling to establish credit, it can be worth the effort.
Our pick for: Low deposit
Card details
- 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 Capital One's mobile app
- View Rates & Fees
NerdWallet's take
The Capital One Platinum Secured Credit Card may not be a good fit for folks recovering from major credit damage, but it could be an excellent match for someone getting a credit card for the first time.
With most secured cards, your deposit must be equal to your credit limit. But with the Capital One Platinum Secured Credit Card, you can get a limit of $200 for a deposit of $49, $99 or $200. If you can’t come up with your whole deposit upfront, you can pay it in installments before activating your card. Pay your bill on time, and you can also be automatically considered for a higher credit line in as little as six months.
Underwriting standards are tighter than for many other secured cards. You generally won’t qualify if you don’t have a checking or savings account, if you have non-discharged bankruptcy, or if your rent is almost as high as your monthly income, among other reasons.
Our pick for: Rewards, bonus offer & upgrading
Rewards breakdown
Card details
- No credit score required to apply. No Annual Fee.
- Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
- Raise your credit score by 30+ points.
- 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, automatically. Plus earn unlimited 1% cash back on all other purchases.
- Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
- Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
- Terms and conditions apply.
- View Rates & Fees
NerdWallet's take
When you consider the rewards, the lack of an annual fee and the opportunity for an upgrade, the Discover it® Secured Credit Card is the best secured credit card we've seen.
The rewards on this card — 2% cash back on up to $1,000 worth of spending per quarter on restaurants and gas, and 1% on all other spending — would be pretty decent on a regular card. For a secured credit card, they’re terrific. After seven months, Discover automatically evaluates your account for possible upgrade to an unsecured card. And the annual fee is $0.
The initial deposit must be paid with a bank account; if you’re unbanked, you’re out of luck. For some people, the $200 minimum deposit will be a stretch. For others, the maximum $2,500 credit limit will be too low.
Our pick for: No credit check + no annual fee
Card details
- New feature! Earn up to 10% cash back on everyday purchases
- No annual fee
- No credit check to apply. Find out instantly if you are approved- Zero credit risk to apply!
- Looking to build or rebuild your credit? 2/3 of cardholders receive a 48+ point improvement after making 3 on-time payments
- Monitor your credit progress with free access to your FICO Credit Score.
- Reports to all 3 major credit bureaus monthly to establish and build credit history.
- Add to your mobile wallet and make purchases using Apple Pay, Samsung Pay and Google Pay
- Secure your credit line with a refundable security deposit - as low as $300.
- Easy application, apply in less than 5 minutes right from your mobile device
- Offers flexible payment due dates which allow you to choose any available due date that fits your payment schedule
- Now you can make smaller partial payments towards funding your security deposit over 60 days
- Over 1.4 Million Cardholders Have Used OpenSky Secured Credit Card To Improve Their Credit
NerdWallet's take
Like OpenSky's regular card, the OpenSky® Plus Secured Visa® Credit Card doesn't require a credit check or a bank account. But this one also doesn't charge an annual fee — although the minimum security deposit and the interest rate are both significantly higher.
The benefits are largely the same as with the annual-fee OpenSky card: The issuer doesn’t run a credit check, and you can make your deposit and pay your bills with a debit card, wire transfer, check or money order, making it an option for those without a traditional bank account. On top of that, there's no annual fee.
The minimum security deposit on this card is higher than on OpenSky's standard card. The APR is also considerably higher, so avoid carrying a balance. Also, your options for upgrading to an unsecured card are limited.
Our pick for: No credit check + lower deposit
Card details
- New feature! Earn up to 10% cash back on everyday purchases
- No credit check to apply. Zero credit risk to apply!
- Looking to build or rebuild your credit? 2/3 of cardholders receive a 48+ point improvement after making 3 on-time payments
- Get free monthly access to your FICO score in our mobile application
- Build your credit history across 3 major credit reporting agencies: Experian, Equifax, and Transunion
- Add to your mobile wallet and make purchases using Apple Pay, Samsung Pay and Google Pay
- Fund your card with a low $200 refundable security deposit to get a $200 credit line
- Apply in less than 5 minutes with our mobile first application
- Choose the due date that fits your schedule with flexible payment dates
- Fund your security deposit over 60 days with the option to make partial payments
- Over 1.4 Million Cardholders Have Used OpenSky Secured Credit Card To Improve Their Credit
NerdWallet's take
The OpenSky® Secured Visa® Credit Card is a strong option for people struggling to build or rebuild credit, as well as for those without access to traditional banking services. Click 'apply now' to see additional terms.
Unlike most other secured cards, the OpenSky® Secured Visa® Credit Card doesn’t require a credit check, so even people with badly damaged credit may be able to qualify. (You’ll still need to meet income standards, however.) Also setting this card apart from other secured cards: You don’t need a bank account. You can make your deposit and pay your bill by debit card, wire transfer, check or money order.
The card charges an annual fee. Also, your options for upgrading your account to an unsecured card are limited.
Our pick for: International students and immigrants
Rewards breakdown
Card details
- Build credit faster, cheaper, and safer
- No credit checks and no credit history are required to open a credit card
- Accepts immigrants and internationals without an SSN - apply with a passport and visa.
- 0% APR. Don’t worry about overspending. What you deposit is what you can spend.
- No account minimum, no interest, and no overdraft fee
- Get up to 15% Merchant Cashback at 29,000 partner merchants
- Get up to 10% Random Cashback on all qualifying transactions
- Earn 4.00% APY with Firstcard Premium, 2.00% APY with Firstcard+, or 0.75% APY with Firstcard Standard on the money in your Firstcard
- Earn an additional 1% Unlimited Cashback with Firstcard Premium on all qualifying transactions on top of the two cashback offerings (Merchant Cashback and Random Cashback)
- Monitor your credit score right in the app
- Get an in-depth monthly credit report with Firstcard+ and Firstcard Premium
- Instant access to your virtual card once your account is approved and you add your virtual card to your phone’s digital wallet
- Your money is protected with Firstcard — automatically insured up to $250,000 by FDIC (backed by the U.S. government)
NerdWallet's take
The Firstcard® Secured Credit Builder Card has extremely low barriers to entry and also earns rewards.
The Firstcard® Secured Credit Builder Card doesn't require a credit check, and it's even possible to get it without a Social Security number. Unlike other secured credit cards, there's no minimum required deposit amount, nor are there any interest charges.
There's an annual fee: $4.99-$12.99 monthly or $48-$120/year depending on subscription plan. And if you want a higher-end version of the card, you'll have to pay for that.
Our pick for: Low fees and interest
Card details
- Could help with building or rebuilding your credit – with responsible use.
- No annual, balance transfer, foreign transaction, or cash advance fees
- Fraud notifications and the ability to freeze/unfreeze your credit card
- Great Visa benefits on travel, live music, and more.
NerdWallet's take
If you're trying to build credit, it's best not to carry a balance on your credit card. But if you have to do so, the DCU Visa® Platinum Secured Credit Card might be the least painful way.
The card has no annual fees, foreign transaction fees, cash advance fees or balance transfer fees, and its ongoing APR is relatively low for a card aimed at the credit-building population. Your account is secured with funds you put in a savings account with Digital Federal Credit Union. That makes it possible to get a really high credit limit if you've got a deposit to match, which in turn would allow you to use this card more like a "regular" card.
The $500 minimum deposit is quite pricey for a secured card and drags down the rating of what is an otherwise solid option. You also have to be a member of Digital Federal Credit Union, although anyone can join through membership in a partner organization.
Our pick for: Adjustable credit limit
Card details
- Deposit an amount from $300 up to $3,000 into a Credit Builder Savings Account which will set the credit limit you request.
- Increase your credit limit by adding funds in increments of $50 or more to the Credit Builder savings account
- Upgrade to an unsecured card with good performance
- No application fee
- No over-the-limit fee
- Automatic reporting to the three major credit bureaus to help you build or repair your credit history
- With improvements to your credit score, graduate to an Unsecured Credit Card
NerdWallet's take
The Credit Builder Secured Visa® Credit Card from Armed Forces Bank isn't fancy, but that's OK. There's no annual fee, and you can add to your security deposit (and thus your credit limit) at any time.
This no-fuss secured credit card has an annual fee of $0 and allows for credit lines of up to $3,000. You must open the account with at least a $300 deposit in your Credit Builder savings account, but you can add to your limit by depositing more (in $50 increments). The card reports to all three credit bureaus. And no, despite the bank's name, you don't need any military affiliation.
The $300 minimum initial deposit is higher than most cards require. Though the card has no annual fee, there's a $5 quarterly charge if you want a bill sent in the mail rather than receiving electronic statements.
Our pick for: Military
FULL LIST OF EDITORIAL PICKS: BEST SECURED CREDIT CARDS
Before applying, confirm details on the issuer’s website.
Discover it® Secured Credit Card
Our pick for: Rewards, bonus offer & upgrading
Like other secured credit cards for people building or rebuilding credit, the Discover it® Secured Credit Card requires a cash security deposit. Unlike most others, it offers rewards. But what really makes it stand out from the competition is its upgrade possibilities. The issuer has a process in place for automatically reviewing ac