Secured credit cards require a cash deposit and are commonly used to build credit. If you have had trouble getting approved for an unsecured card in the past, then a secured card may be right for you. By making on-time minimum payments to all creditors and maintaining account balances below credit limits, a secured credit card combined with responsible financial behavior can help you establish or rebuild your credit history. These are some of the most popular secured credit cards from Credit Karma's partners.
- No annual fee, and all the credit building benefits with responsible card use
- Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
- Your minimum security deposit gets you a $200 credit line
- You may qualify for a credit line increase based on your payment history and creditworthiness with no additional deposit required
- Easily manage your account 24/7 with online access, by phone or using our mobile app
- It’s a credit card accepted at millions of locations worldwide
Pros & Cons
- No processing or application fees
- High interest rate
- Security deposit
The Capital One® Secured MasterCard® is a good option for people with little or no credit history who are looking to build their credit.
What to Like
This Capital One® Secured MasterCard® has no set up or processing fees. Capital One® reports to all three major credit bureaus so you can take steps to build your credit history. While this card does require an initial security deposit, Capital One® may increase your credit limit without any additional deposits if you use your credit responsibly.
Look Out For
Secured credit cards are great for building credit, but they typically come with annual fees and a required security deposit--and without rewards. It’s important to use your credit responsibly in order to build toward a card with more attractive perks.
- No annual fee. No late fee on your first late payment. No increase to your APR for paying late.*
- Earn 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Earn 1% cash back on all other purchases.
- Discover doubles all the cash back you’ve earned at the end of your first year. New cardmembers only.*
- Your credit line will equal your security deposit amount of $200 or more.*
- Monthly reviews start at 12 months to see if you qualify to get your security deposit back while you continue to enjoy your card benefits*.
- Reports to 3 major credit bureaus so you can build or rebuild credit with responsible use.*
- See your FICO® Credit Score for free on monthly statements & online.*
- Click “Apply Now.” *See rates, rewards, FICO® Credit Score terms and secured card information.
Pros & Cons
- Build your credit with responsible use
- Cash back rewards
- No annual fee
- Security deposit required
- Rewards aren’t as good as the standard Discover it® card
Cash rewards make the Discover it® Secured Credit Card a unique choice for people who are looking to build their credit with responsible use.
What to Like
The Discover it® Secured Credit Card is geared toward consumers who are looking to build their credit. The card comes with 2% cash back at restaurants and gas stations (up to $1,000 in combined purchases each quarter) and 1% on all other purchases, which is pretty rare for a secured card. There’s also no annual fee and Discover reports to all 3 major credit bureaus.
Look Out For
It is a secured card, so you’ll have to pay a security deposit equal to the size of your initial credit line. The rewards here also aren’t quite as impressive as with the standard Discover it® card.
Additional Secured Credit Cards
- Build Your Credit fast with our monthly reporting to all 3 major credit bureaus.
- Choose your credit line as low as $200 up to $3000, secured by a fully-refundable* security deposit.
- Security deposit needs to be submitted before the credit card can be issued.
- No credit check necessary and no checking account required; apply in less than 5 minutes.
- Extra credit when you need it, increase your credit line up to $5000 in your first year*
- Access to online financial education.
- *View our Cardholder Agreement located at the bottom of the application page for details of the card. Click the Apply Now button to get to the application page.
- Fund your new MasterCard® secured credit card with your tax refund today!
- 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 $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
- Start building credit for tomorrow
- A security deposit is required for this product (minimum $200)
- Unlike a prepaid card, it helps build credit history, with monthly notifications to the credit bureaus
- Pay your bill on time every month to avoid damaging your credit. Citi can help keep you on track with Auto Pay, online Bill Pay and alerts.
- Use the card anywhere MasterCard® is accepted - worldwide
* See the online Provider's credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button, you can review the credit card terms and conditions on the provider's website.
† We look at how your credit profile compares to other Credit Karma members who were approved for this product. Of course, there’s no such thing as a sure thing, but knowing whether your Approval Odds are Very Good, Good, Fair or Poor may help you narrow down your choices.