Revive Your Credit Score with Top 10 Secured Credit Cards

Are you looking to rebuild your credit score but struggling to get approved for a credit card? Secured credit cards can be the perfect solution for those with poor or limited credit history. These cards require a security deposit, but they can help you establish a positive payment history and improve your credit score over time.

To help you choose the best secured credit card for your needs, we’ve researched and compiled a list of the top 10 options available. From low fees to high credit limits, these cards offer a range of features to fit your financial goals. Read on to find the perfect match for your credit rebuilding journey.

Here are the top 10 best secured credit cards for rebuilding credit:

Discover it® Secured
Citi® Secured Mastercard®
Capital One® Secured Mastercard®
OpenSky® Secured Visa® Credit Card
Green Dot Visa® Secured Credit Card
Applied Bank® Secured Visa® Gold Preferred® Credit Card
First Progress Platinum Elite Mastercard® Secured Credit Card
USAA® Secured Card® American Express® Card
Navy Federal Credit Union® nRewards® Secured Credit Card
AERO Federal Credit Union Visa® Secured Card

Using a secured credit card can be an effective way to build or rebuild credit. These cards require a cash deposit as collateral, which reduces the risk for the issuer, and can help you establish a positive payment history. Choose the card that works best for you and start working towards a better credit score!

1. Capital One Secured Mastercard

Why We Like It: The Capital One Secured Mastercard is an excellent choice for those who want to rebuild their credit without paying annual fees. It also offers a credit line increase after making your first five monthly payments on time.

Who Should Get It: Those who are looking for a secured credit card with no annual fees and want to increase their credit limit after a few months of timely payments.

Pros:

No annual fee
Credit line increase after 5 months of timely payments
Automatic reviews for credit limit increase opportunities

Cons:

High APR
Requires a security deposit of $49, $99 or $200

2. Discover it Secured Credit Card

Why We Like It: Discover it Secured Credit Card offers cashback rewards on purchases, which can be a great incentive to use the card. It also offers free access to your FICO credit score on your monthly statement.

Who Should Get It: Those who want to earn rewards while rebuilding their credit score.

Pros:

No annual fee
Cashback rewards on purchases
Free access to FICO credit score

Cons:

Requires a security deposit of at least $200
High APR

3. OpenSky Secured Visa Credit Card

Why We Like It: The OpenSky Secured Visa Credit Card has no credit check requirement, which makes it an excellent option for those who have limited or poor credit history. The card also offers a low APR and flexible security deposit options.

Who Should Get It: Those who have limited or poor credit history and want to avoid a credit check requirement.

Pros:

No credit check requirement
Low APR
Flexible security deposit options

Cons:

$35 annual fee
No rewards program

4. Citi Secured Mastercard

Why We Like It: The Citi Secured Mastercard offers a low security deposit requirement and has no application fee. It reports to all three credit bureaus, which can help rebuild your credit score faster.

Who Should Get It: Those who want to rebuild their credit score with a low security deposit requirement and no application fee.

Pros:

No application fees
Low security deposit requirement
Reports to all three credit bureaus

Cons:

No rewards program
High APR

5. BankAmericard Secured Credit Card

Why We Like It: The BankAmericard Secured Credit Card offers a low APR and automatic reviews for credit limit increases. It can help you build your credit score faster as it also reports to all three credit bureaus.

Who Should Get It: Those who want to rebuild their credit score with a low APR and automatic credit limit increase reviews.

Pros:

Low APR
Automatic reviews for credit limit increases
Reports to all three credit bureaus

Cons:

No rewards program
Requires a security deposit of at least $300

6. Green Dot primor Visa Gold Secured Credit Card

Why We Like It: The Green Dot primor Visa Gold Secured Credit Card offers a low APR and reports to all three credit bureaus. It also offers a high credit limit, which can be beneficial for those who need more credit.

Who Should Get It: Those who want a secured credit card with a high credit limit and low APR.

Pros:

Low APR
Reports to all three credit bureaus
High credit limit

Cons:

$49 annual fee
Requires a security deposit of at least $200

7. First Progress Platinum Prestige Mastercard Secured Credit Card

Why We Like It: Low APR and reporting to all three credit bureaus are the main features of the First Progress Platinum Prestige Mastercard Secured Credit Card. Additionally, it has a high credit limit, which is beneficial if you need extra credit.

Who Should Get It: Those who want a secured credit card with a high credit limit and low APR.

Pros:

Low APR
Reports to all three credit bureaus
High credit limit

Cons:

$49 annual fee
Requires a security deposit of at least $200

8. Secured Mastercard from Capital One

Why We Like It: The Secured Mastercard from Capital One is an excellent option for those who want to rebuild their credit score without paying annual fees. It also offers a credit limit increase after making your first five monthly payments on time.

Who Should Get It: Those who are looking for a secured credit card with no annual fees and want to increase their credit limit after a few months of timely payments.

Pros:

No annual fee
Easy credit line increase after 5 months of timely payments
Automatic reviews for credit limit increase opportunities

Cons:

High APR
Requires a security deposit of $49, $99 or $200

9. Harley-Davidson Secured Credit Card

Why We Like It: The Harley-Davidson Secured Credit Card offers cashback rewards on purchases, which can be a great incentive to use the card. It also reports to all three credit bureaus.

Who Should Get It: Those who want to earn rewards while rebuilding their credit score.

Pros:

Cashback rewards on purchases
Reports to all three credit bureaus
No annual fee

Cons:

Requires a security deposit of at least $300
High APR

10. UNITY Visa Secured Credit Card

Why We Like It: The UNITY Visa Secured Credit Card offers a low APR and reports to all three credit bureaus. It also offers a credit limit increase after making your first three monthly payments on time.

Who Should Get It: Those who want a secured credit card with a low APR and credit limit increase opportunities.

Pros:

Low APR
Credit line increase after 3 months of timely payments
Reports to all three credit bureaus

Cons:

$39 annual fee
Requires a security deposit of at least $250

Frequently Asked Questions

Secured credit cards are a great way to rebuild your credit score. Here are some frequently asked questions about the best secured credit cards for rebuilding credit.

1. What is a secured credit card?

A secured credit card is a type of credit card that requires a security deposit to be approved. The deposit is usually equal to the credit limit, so if you put down a $500 deposit, your credit limit will be $500. This makes it easier for people with bad credit or no credit to get approved for a credit card.

Using a secured credit card responsibly can help you build your credit score over time. Make sure to make your payments on time and keep your balance low, as these are the two biggest factors that affect your credit score.

2. What are the benefits of using a secured credit card?

Using a secured credit card can help you rebuild your credit score over time. It’s also a great way to establish credit if you don’t have any. Secured credit cards often come with lower fees and interest rates than unsecured credit cards, which can save you money in the long run.

Some secured credit cards also offer rewards programs, such as cashback or points for travel. These rewards can be a great way to save money or earn free travel.

3. What should I look for when choosing a secure credit card?

When choosing a secured credit card, it’s important to look for low fees and low interest rates. You should also look for a card that reports to all three credit bureaus, as this will help you rebuild your credit score faster.

It’s also important to choose a card with a security deposit that you can afford. The deposit is usually equal to the credit limit, so make sure you can afford to put down the deposit before applying for the card. Be aware while choosing a secured credit card and consider these factors to make an informed decision.

4. How can I use a secured credit card to rebuild my credit score?

Using a secured credit card responsibly is the best way to rebuild your credit score. Make sure to make your payments on time and keep your balance low, as these are the two biggest factors that affect your credit score.

It’s also important to use your secured credit card regularly, as this will show lenders that you can use credit responsibly. However, make sure to only charge what you can afford to pay off each month, as carrying a balance can hurt your credit score.

Having a good credit score is crucial for financial stability. However, for those who have had credit mishaps in the past, rebuilding credit can be a daunting task. Secured credit cards are a great option for those looking to rebuild their credit.

In conclusion, these secured credit cards for rebuilding credit offer a variety of benefits and features to help individuals improve their credit scores. With responsible use and timely payments, these cards can provide a path to financial stability and a brighter financial future.