15 Best Secured Credit Cards For Bad Credit

If you’re planning on getting a school loan, buying a home, or leasing a car, a positive credit history helps, but if you have poor or limited credit, you’re out of luck. A secured credit card is an option that can help you build (or rebuild) your credit score.

What is a secured credit card? 

A secured credit card is a type of credit card that is secured by a cash deposit of the cardholder. This deposit serves as security on the account and offers the card issuer security if the cardholder cannot. Secured credit cards are often issued to high-risk borrowers or borrowers with limited credit history (so-called lightweight file borrowers). With standard reports to credit bureaus, these cards can help borrowers improve their credit profiles or credit card scores.

How does a secured credit card work?

Once the first deposit is paid, secured cards work the same way as unsecured. You can use them anywhere credit cards are accepted, even online time interest Cards. Annual fees are common, but you shouldn’t pay more than $50.

Among our best-secured cards, you will find several options with no annual fee. If you do not qualify for an unsecured card, a secured card can be a great tool to improve your credit score, but taking responsibility for a secured card is just as important as it is with any other loan or bill that appears on your credit report. 

How to Get a Secured Credit Card

Like any other credit card, the first step is to fill out and submit an application. The lender then does a credit check. The main difference between a secure and unsecured credit card application is that the former requires your bank account and routing number to provide a refundable deposit.

The amount you deposit becomes your credit limit, the maximum amount that you can put on the card. Once your deposit is accepted, a secured credit card works like any other. Since secured cards require collateral from borrowers as part of your agreement with the card company, you should settle your balance in full each month to avoid fees for exorbitant interest rates.

What Causes Bad Credit? 

Several measures can negatively affect your credit score, but late payments on loans (especially for long periods) can have the largest and longest-lasting negative effects on mortgages, auto loans, credit cards, personal loans, and more.

Secured credit cards can be useful tools to manage your expenses and build your credit, but they can also lead to poorer credit ratings if you are not careful, so you need to make sure that you pay your balance on time and in full each month, just like you would with any other loan payment. Failure to do so can quickly damage the credit score you are trying to build up.

Who uses a secured credit card?

Secured credit cards are aimed at people with poor or very poor credit ratings or those who are struggling to qualify for a regular credit card. The down payment you pay compensates the card company for the additional risk associated with granting credit.

Acquiring a secured card and then using it responsibly over several months or years can be a recommended way to improve your flat line or increase your credit score. If you’ve had a positive payment history, secured card lenders can increase your credit limit overtime or even offer an upgrade to an unsecured card (in which case you will get your deposit back).

To maintain this positive track record means paying off the balance in full every month and of course, paying on time. If you miss payments, lenders report the failure to the credit bureaus, which doesn’t do your credit good. To improve your credit score, you have to ensure that your credit score doesn’t get damaged in the event of a default.

15 Best Secured Credit Cards for bad credit in 2022

Here are some of the best-secured credit cards for bad credits listed below:

1. OpenSky secured visa credit card:

OpenSky offers a solid way to rebuild credit without the need for a credit check or a bank account. However, you will need to deposit at least $200 for the security deposit. It offers no credit check, relatively low APR for a “bad credit card

2. CapitalOne Platinum Secured:

With its flexible deposit requirement and the ability to increase the line of credit beyond the initial deposit, Capital One Platinum Secured is a rare credit card. Applicants with limited or poor creditworthiness may be eligible and you require no overseas transaction fee or even annual fee. Although you’ll have to deposit $49, $99, or $200 for security

3. Discover It secured credit card:

In the world of secured credit, the Discover it® Secured Credit Card stands out from the competition. With an unlimited return rate of $1 on all purchases, plus $2 returns to gas stations and restaurants of up to $1,000 on combined purchases per quarter, with no APR deduction and no annual fee, we recommend this card for those who need to rebuild their card balance The cashback reward at the end of the first year is a sweet bonus.

4. The Citi® Secured Mastercard®:

This is a no-frills option that allows you to build up credit over time. It doesn’t have any rewards, but neither does it have the high start-up or annual fees that many other secured cards charges. If you pay on time for 18 months, you might get an upgrade to an unsecured card. Avoid keeping a balance to avoid a high APR.

5. First Progress Platinum Prestige MasterCard®:

Get your card faster with the new expedited processing option No credit history or minimum credit required for approval Faster and more complete online application; No credit request required! Includes free real-time access to your creditworthiness and ongoing credit monitoring with the guaranteed ExperianFullFeature Platinum Mastercard® credit card; Test our new mobile app for Android users! Good for car rental, hotels; Credit cards are accepted everywhere!

6. SDFCU Savings Secured Visa® Platinum Card:

The Visa® Platinum Card with Savings Guaranteed by the Federal Credit Union Department of State is a solid, no-annual-fee card option that offers reward points for your purchases. Credit lines issued from $250 on net purchases on your Platinum card.

You must be a member of the State Department’s Federal Credit Union to qualify. To become a member, you must be an employee of the U.S. Department of State, employed or affiliated with an eligible organization, an immediate family member of a member, or a paid member of the American Consumer Council (ACC).

7. U.S. Bank Secured Visa Card:

The U.S. Bank Secured Visa® Card has no minimum credit score or credit history requirements. The minimum deposit is $300, and your security deposit will earn interest over time so long as your account remains open and is still in good standing.

You’ll have to provide a security deposit of $300 up to $5,000 for a credit line equal to your deposit. Deposit earns interest in a secured savings account. You will also pay a $29 annual fee. Cardholders who have made all of their card payments on time and shown significant credit improvement may be eligible for an upgrade to an unsecured card. 

8. Wells Fargo Secured Credit Card:

The Wells Fargo Secured Credit Card accepts a wide variety of applicants, including those with limited or no credit history. You must make a minimum deposit of $ 300 to open an account if it is approved. The card can be used anywhere that Visa credit cards are accepted.

No debit or prepaid card Make a minimum deposit of $300 Pay an annual fee of $25 Cardholders who pay their credit card statements on time each month may be eligible for an automatic upgrade to an unsecured card and a refund of their deposit.

9. Petal 1 “No Annual Fee” credit card:

Petal’s algorithm enables its issuing bank, WebBank, to look beyond creditworthiness. It can evaluate your banking information to get a clear picture of how it is managing your income, savings, and expenses. The card is low-fee and recommends the three credit bureaus and even offers the opportunity to earn rewards.

The Visa® Petal® 1 “No Annual Fee” credit card requires no deposit and, as the name suggests, carries an annual fee of $ 0. Thanks to a single underwriting process, it could be a good choice if you don’t have the ideal credit score.

10. Navy Federal Credit Union® nRewards® Secured Credit Card:

The Navy Federal Credit Union® nRewards® Secured Credit Card is pretty much anything a secure card should be. It requires a deposit, but there are no annual fees, unnecessary applications, or “maintenance fees”. From six months with good payment behavior, your account will be taken into account when switching to unsecured status.

The Navy Federal Credit Union® nRewards® Secured Credit Card also comes with a few extras not normally seen on secured cards, including rewards and cell phone protection.

11. HarleyDavidson® Visa® Secured Card:

With a secured card, you leave a cash deposit, which the exhibitor keeps as security if you do not pay your bill. The amount of your deposit is equal to your credit limit. Regular and responsible use of a secured card is one of the best (and fastest) ways to build or rebuild credit.

12. DCU Visa® Platinum secured credit card:

DCU Visa® Platinum secured credit card, is one of the offerings in the secure card industry with its predatory share, remarkably low-interest rates, and a lack of fees, including a $0 annual fee, but the brilliance of the card is overshadowed by the hassle of joining a credit union to apply, along with the ability to receive rewards for spending.

An exceptionally high deposit is required compared to large competitors. This puts the card out of reach for paycheck-to-check consumers to build or rebuild credit with a card but you can still enjoy a healthy cash flow.

13. Self – Credit Builder Account + Secured Visa® Credit Card:

This is a combined credit account and card product to build credit and save money (less interest and fees) It requires no credit check, no credit history and you can start with a credit generator account that reports to all 3 credit bureaus Each one-time monthly payment create a credit history and savings.

You just need to choose the plan that works for you, make at least 3 monthly payments on time, have savings of $ 100 or more in your account, and stay tuned. You are automatically entitled to the Self Visa credit card, no credit check. The progress of your savings in your Credit Builder account acts as your refundable security deposit.

14. UNITY® Visa Secured Credit Card:

The UNITY® Visa Secured Credit Card makes approval easy regardless of your creditworthiness and can even help you consolidate high-interest debt at a lower interest rate months before the rate returns to the regular fixed APR. There is a transfer fee of $ 0 or 3% of the amount of each transfer, whichever is greater (maximum fee: $ 150).

15. BankAmericard® Secured Credit Card:

With the BankAmericard® Secured Credit Card, you can start with a minimum deposit of 300 USD term credit. There is no annual fee and you have access to a variety of loan development tools that you can use to monitor your long-term loan progress.


Additionally, to improve your credit card score,  you need to take control of how you are doing by regularly monitoring your credit report. Make sure there are no bugs and clear them if there are. Once you’ve upgraded your balance and are ready to switch to another card, you should also consider the pros and cons of keeping your account open.



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