11 Best Secured Credit Cards

Earning Structure:

This card does not offer points or cashback rewards.

Welcome Bonus:

There is no welcome bonus offered with the Current Build Card.

Card Details:

• Annual Fee: $0
• Security Deposit: Required; refundable
• Credit Check: Not required
• Account Requirement: Must have a Current Spend account

Key Benefits:

• Helps build credit without a hard pull on credit
• Real-time transaction alerts through the Current app
• Reports to all three major credit bureaus
• Simple digital management via the Current app

Redemption Options:

The card does not offer rewards, so there are no redemption options.

Credit Requirements:

The card is accessible to individuals with no credit or poor credit, thanks to its no-credit-check policy.

Spending Limitations / Potential Drawbacks:

The credit limit depends on the security deposit amount. It may offer fewer benefits compared to non-secured cards or those with rewards.

Why it Works for Beginners:

It is easy to qualify for and helps build credit history with responsible use. The app simplifies managing spending and tracking credit progress.

Earning Structure:

• 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter
• 1% cash back on all other purchases

Welcome Bonus:

New cardholders get their first-year cash back rewards matched dollar-for-dollar at the end of the year.

Card Details:

• Annual Fee: $0
• Security Deposit: $200 minimum, fully refundable
• Foreign Transaction Fees: None
• Credit Reporting: Reports to all three major credit bureaus

Key Benefits:

• Earn cash back while building credit
• First-year cash back match
• No credit history needed to apply
• Access to free FICO® credit score

Redemption Options:

Cash back can be redeemed as statement credits, direct deposits, or gift cards with no minimum amount required.

Credit Requirements:

The card is open to applicants with limited or poor credit, and approval doesn’t require a credit score.

Spending Limitations / Potential Drawbacks:

The credit limit depends on the deposit, which might be low for some users. Rewards caps apply on bonus categories.

Why it Works for Beginners:

This card helps users build credit with responsible use and offers rewards without added fees, making it easy for first-time credit card holders.

Earning Structure:

• 1.5% cash back on every purchase, with no limit
• 5% cash back on hotel and rental car bookings made through Capital One Travel

Welcome Bonus:

Cardholders may receive a $200 cash bonus after making the required minimum deposit.

Card Details:

• Annual Fee: $0
• Security Deposit: Minimum $200, refundable
• Foreign Transaction Fees: None
• APR: Variable, approximately 29.74%

Key Benefits:

• Earns unlimited cash back on all purchases
• No yearly fee helps save money
• Credit reporting to help build credit history
• Ability to upgrade to an unsecured card over time

Redemption Options:

Cash back rewards can be redeemed as statement credits, checks, or applied toward travel bookings through Capital One.

Credit Requirements:

This card is suitable for people with limited or poor credit history who want to improve their credit score.

Spending Limitations / Potential Drawbacks:

The card has a high APR, which makes it important to pay balances in full every month to avoid interest charges.

Why it Works for Beginners:

It offers an easy way to start building credit while earning cash back, with no annual fee and a simple approval process tied to the refundable deposit.

Earning Structure:

This card does not offer points or cashback rewards.

Welcome Bonus:

There is no welcome bonus available with this card.

Card Details:

• Annual Fee: $0
• Security Deposit: Minimum $300, refundable
• Foreign Transaction Fees: None
• Credit Check: Not required for approval

Key Benefits:

• No credit history needed to apply
• Zero fraud liability
• Emergency card replacement available
• Reports to all three major credit bureaus

Redemption Options:

Not applicable, as there are no rewards or cashback features.

Credit Requirements:

The card is available to those with poor or no credit. Approval does not depend on a hard credit inquiry.

Spending Limitations / Potential Drawbacks:

Credit limit is equal to the security deposit, making the spending cap limited by how much the user deposits. No rewards could be a downside for some.

Why it Works for Beginners:

It offers an easy approval process with no credit check and helps build credit by reporting payment activity to credit bureaus without an annual fee.

Earning Structure:

No cash back or rewards program is offered with this card.

Welcome Bonus:

There is no welcome bonus with the Chime Credit Builder card.

Card Details:

• Annual Fee: $0
• Security Deposit: None required—spending is limited to deposited funds
• Credit Check: Not required for approval
• Other Features: No interest charges or hidden fees

Key Benefits:

• No credit check for approval
• Allows users to use their security deposit to pay the bill
• Helps build credit with responsible use
• Simple and clear fee structure (no hidden fees)

Redemption Options:

Not applicable, as there are no rewards or cashback to redeem.

Credit Requirements:

Accepts applicants with no credit or poor credit; approval is based on use of Chime Spending Account funding.

Spending Limitations / Potential Drawbacks:

Users must first fund their Credit Builder account before spending, which may limit immediate card use. No rewards or cash back might be a downside for some.

Why it Works for Beginners:

Its easy approval, no fees, and simple approach to building credit make it a good choice for first-time credit card users. Its structure encourages good credit habits without the risk of debt.

Earning Structure:

• Earn cashback on purchases (specific rates vary by offer)
• Rewards apply to everyday spending

Welcome Bonus:

Firstcard may offer a cashback sign-up bonus, but availability and terms vary.

Card Details:

• Annual fee: $48–$120 per year, depending on subscription plan
• No interest charges
• No credit check or Social Security number required
• No minimum deposit required
• Can verify identity with a passport
• No foreign transaction fees

Key Benefits:

• Easy approval process
• Helps build credit history with responsible use
• No surprise fees beyond monthly subscription
• Cashback rewards encourage spending control

Redemption Options:

Cashback rewards can be used as account credits or redeemed according to the card’s specific terms.

Credit Requirements:

Applicants need to be 18 years or older, but no credit score or credit history is required.

Spending Limitations / Potential Drawbacks:

Users must pay a monthly subscription fee, which may add up over time. There is no traditional credit line; spending is tied to deposits or limits set by Firstcard.

Why it Works for Beginners:

It is simple to get and use, with minimal barriers like credit checks. Clear fees and cashback rewards help users learn financial habits while building credit safely.

Earning Structure:

• This card does not earn rewards or cash back

Welcome Bonus:

No welcome bonus is typically offered with this card.

Card Details:

• Annual Fee: $35
• Security Deposit: Minimum $200 (sets the card’s credit limit)
• Foreign Transaction Fees: None
• Credit Check: Not required for approval

Key Benefits:

• Easy approval with no credit check required
• Credit limits based on deposit, allowing better control
• Helps build or rebuild credit history
• Potential cash back rewards at select stores

Redemption Options:

Not applicable, as this card does not offer rewards.

Credit Requirements:

Open to those with poor or no credit, with approval based solely on deposit and basic identity verification.

Spending Limitations / Potential Drawbacks:

Users need to pay a security deposit to start, and the annual fee is higher than some competing secured cards.

Why it Works for Beginners:

It offers a simple way to build credit with low barriers to approval and flexible credit limits tied to the deposit amount.

Earning Structure:

• This card does not offer rewards or cashback.

Welcome Bonus:

There is no welcome bonus with this card.

Card Details:

• Annual Fee: $0
• Security Deposit: Starts as low as $49, $99, or $200 depending on creditworthiness
• Foreign Transaction Fees: None
• Credit Reporting: Yes—reports to all three major credit bureaus

Key Benefits:

• Low security deposit requirements
• Opportunity for credit line increase without additional deposit
• No monthly or hidden fees
• High approval rate for applicants with poor or limited credit

Redemption Options:

Not applicable, as the card does not offer points or cashback.

Credit Requirements:

The card is available to people with bad or limited credit who meet Capital One’s criteria.

Spending Limitations / Potential Drawbacks:

The credit limit starts low, and there are no rewards, which may not appeal to users seeking perks.

Why it Works for Beginners:

Its low deposit and no annual fee make it accessible and affordable, helping new credit builders improve their credit scores with responsible use.

Earning Structure:

• This card does not offer points or cashback rewards.

Welcome Bonus:

There is no welcome bonus available for this card.

Card Details:

• Annual Fee: $0 intro for the first year, then $25 annually
• Security Deposit: Not required (loan payments create the credit line)
• Credit Check: Not required for approval
• Credit Reporting: Monthly to all three major credit bureaus

Key Benefits:

• Helps establish or rebuild credit
• Low, flexible deposit based on loan payments
• No extra deposit needed beyond the Credit Builder Account
• No annual fees

Redemption Options:

Not applicable, as this card does not offer rewards or cashback.

Credit Requirements:

No minimum credit score or credit check is required to get this card.

Spending Limitations / Potential Drawbacks:

The credit limit depends on the loan balance in the Credit Builder Account, which could be lower than other secured cards. Users must maintain the loan payments to keep the card active.

Why it Works for Beginners:

This is perfect for first-time credit builders, as it eliminates credit checks and large deposits, allowing users to build credit with manageable loan payments.

Earning Structure:

• No rewards or cashback program.

Welcome Bonus:

No welcome bonus is available with this card.

Card Details:

• Annual Fee: $0 (may require a small one-time membership donation)
• Security Deposit: $500 minimum (up to $100,000)
• APR: 15.75% variable
• Foreign Transaction Fees: None

Key Benefits:

• No annual or application fees
• Helps build credit through responsible use
• Fraud protection and security features included

Redemption Options:

Not applicable since this card does not offer rewards or points.

Credit Requirements:

This card generally requires fair to poor credit or no credit history. Applicants must be members of DCU or become members.

Spending Limitations / Potential Drawbacks:

Requires a $500 minimum security deposit, which is higher than many other secured cards. It does not provide rewards or cash back.

Why it Works for Beginners:

It is a straightforward credit-building card with low fees and a lower interest rate than many secured cards, making it a solid choice for those new to credit or rebuilding their credit.

Earning Structure:

• No traditional cashback or points rewards system
• Focuses on credit building rather than rewards

Welcome Bonus:

There is no welcome bonus offered with this card.

Card Details:

• Annual Fee: $0
• Security Deposit: Not required—your build account balance sets the credit limit
• Credit Check: Not required
• Credit Reporting: Monthly reporting to all three major credit bureaus

Key Benefits:

• Flexible deposit amount lets users control their credit line
• Reports to all three major credit bureaus
• No minimum credit score needed
• Helps establish positive payment history

Redemption Options:

Not applicable, as this card does not offer cashback or points.

Credit Requirements:

This card accepts applicants with no credit or bad credit, since no credit check is required.

Spending Limitations / Potential Drawbacks:

Spending is limited to the amount deposited in the secured account, which might feel restrictive compared to unsecured cards.

Why it Works for Beginners:

It provides an easy way to start building credit with low risk, no credit check, and transparent fees, ideal for those new to credit or recovering from credit.