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, with all the credit building benefits
- 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.
- 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.
Pros & Cons
- Reports to all 3 major credit bureaus
- Relatively low annual fee
- No credit check
- Requires a security deposit
- Higher penalty APR
The OpenSky® Secured Credit Visa® Card is a good choice for people who are looking to build their credit without paying too much in fees.
What to Like
The OpenSky® Secured Credit Visa® Card reports regularly to all 3 major credit bureaus, making it useful for building credit. The $29 annual fee is relatively low for a card aimed at people with limited credit history, and there are no other processing, servicing or application fees. There’s no credit check for applicants, and the 17.5% APR is competitive for a card made for low score users.
Look Out For
There’s a slightly higher penalty APR for cardholders who have missed a payment. This is also a secured credit card, meaning you’ll have to put down a deposit equal to your credit line in order to get access to credit. After the first year, there’s also a $25 fee for increasing your credit limit, if you choose to do so.
Additional Secured Credit Cards
- 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
- Get your FICO® Score every month at no charge.
- 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!
- Your stepping stone to credit that can grow with you.
- You provide an upfront deposit - from $300 to $5,000 - and that sets your credit limit, subject to our credit approval.
- How you use your card will reflect on your credit rating with the three major credit bureaus.
- There is no charge for receiving your FICO® 8 Bankcard Score.
- You could qualify for additional unsecured credit - without sending an additional deposit - in as few as 7 months.
- As soon as 11 months after opening your account, you could be eligible to apply for an unsecured card from First National Bank - and get your deposit back!
- Use your Kickstart Secured Card anywhere Visa credit cards are accepted.
* 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.
† Credit Karma estimates your Approval Odds by comparing your credit profile with data about other members who were approved for this product. Though Approval Odds do not guarantee approval, they can show you which products may be a better fit for you.