With a less than perfect credit score, there are fewer card options out there. If you have had trouble getting approved for an unsecured card in the past, then a secured card may be right for you. Secured cards can help you manage your credit and spending limits, however they do require a cash collateral deposit which then becomes the credit line for that account. The good news is that your monthly payments will be reported to the major consumer reporting agencies, ensuring that your account history is reported to your credit profile.
By making on-time minimum payments with all creditors and maintaining account balances below credit limits with all creditors, a secured credit card may help you establish or rebuild your credit. Below are some of our favorite secured credit cards.
Recommended Just For You
- Build credit with responsible use with no processing or application fees
- Regular reporting to the 3 major credit bureaus
- Monitor credit with access to a credit score and other tools
- Your security deposit can get you a line up to $3,000
- You may qualify for a credit line increase based on your payment history and creditworthiness
- Use it like any MasterCard credit card, accepted at millions of locations worldwide
- Low annual fee
- No processing or application fees
- High interest rate
Capital One’s Secured MasterCard helps you build credit without breaking the bank. With no set up or processing fees and a hard-to-beat annual fee of $29, Capital One Secured MasterCard reports to all 3 major credit bureaus so you can take steps to build your credit history.
Additionally, Capital One provides credit resources, like access to your credit score, to help you monitor and better your overall credit health. After continued smart and responsible credit use, Capital One rewards eligible cardholders with a credit line increase without additional security deposits. Initial security deposit requirements start at $49, $99, or $200, and can secure you a credit line up to $3,000.
A secured card is one of the best ways to turn around poor credit or establish good credit history, and Capital One’s Secured MasterCard is just the right tool to help.
Credit Score Approval Data †
|574||Average credit score approved for this card †||514||Lowest credit score approved for this card †|
- Nationwide Program though not yet available in NY, IA, AR, or WI
- Receive Your Card More Quickly with New Expedited Processing Option
- No Credit History or Minimum Credit Score Required for Approval
- 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 $300 -- $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
- Reports monthly to all 3 credit bureaus
- No minimum score required for approval
- Not available in all U.S. states
Rebuilding or establishing credit can be difficult at first. That’s why the First Progress Platinum Elite MasterCard® Secured Credit Card tries to make the process as simple as possible with an easy online application and no credit history or minimum credit score required for approval.
The First Progress Platinum Elite MasterCard® Secured Credit Card reports monthly to all three major credit bureaus, and offers lines of credit ranging from $300 up to $2,000 with a deposit. This card is good for car rentals, hotels and is accepted anywhere credit cards are accepted.
With peace of mind that your deposit is held at an FDIC-insured bank, the First Progress Platinum Elite MasterCard® Secured Credit Card is a full-feature card that can lead the way to establishing good credit.
Credit Score Approval Data †
|563||Average credit score approved for this card †||505||Lowest credit score approved for this card †|
Additional Secured Credit Cards
- Build your credit – Performance is reported to all three major credit bureaus, unlike a prepaid card.
- Credit line increases – Automatic unsecured credit line increase reviews with no additional security deposit or fees.
- No processing or application fees.
- You determine your credit line – up to $3,000.
- Easy funding options – We have several convenient options to easily submit your security deposits.
- Worldwide acceptance – Use it anywhere Visa is accepted.
- Easy application – Click "Apply Now" to apply online today!
- Build Your Credit, with monthly updates to all 3 credit bureaus
- Control Your Finances, start with a security deposit and credit line as low as $200
- Apply in less than 5 minutes, NO credit check necessary
- Avoid paying interest, no interest charged on new purchases if the balance is paid in full by the due date each month.
- Extra Credit When You Need It, increase your credit line up to $5000
- Easy funding options, with 4 ways to fund and NO checking account needed