Secured Credit Cards

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 to all creditors and maintaining account balances below credit limits, a secured credit card combined with responsible financial behavior may help you establish or rebuild your credit history. Below are some of our favorite secured credit cards.