Best Secured Credit Cards of 2024
If you’re looking to build or rebuild your credit, secured credit cards offer a powerful solution. These cards function like regular credit cards but require a refundable security deposit, which serves as your credit limit. The best secured credit cards not only help you establish credit but also offer rewards, low fees, and opportunities to upgrade to unsecured cards. Below is our editorial selection of the top secured credit cards for 2024.
Top 10 Secured Credit Cards
Credit card
Annual fee
Intro offer
Apply now
Earn an extra 1.5% cash back on every purchase during your first year, up to $20,000 in spending—allowing you to earn up to $300 in cash back!
Cash Back Rewards Details:
- 6.5% cash back on travel booked through Chase Travel℠, where you can redeem for cash back, travel, gift cards, and more.
- Receive 4.5% cash back on drugstore purchases and dining, including takeout and eligible delivery services.
- Receive 3% cash back on other purchases, up to $20,000 in the first year.
After the First Year or Reaching $20,000 Spend:
- Get 5% cash back on travel bought through Chase Travel℠.
- 3% cash back on drugstore spending and dining, including takeout and eligible delivery services.
- Get Unlimited 1.5% cash back on all other purchases.
Flexible Cash Back Redemption:
Redeem your cash back with no minimum required. You can opt for a statement credit or direct deposit into most U.S. checking and savings accounts. As long as your account is open, your Cash Back rewards won’t expire!
0% Intro APR Offer:
Take advantage of 0% Intro APR for 15 months on purchases and balance transfers from the first day your account is opened. After this period, a variable APR of 20.49% – 29.24% applies.
No Annual Fee:
Enjoy all the benefits of your Freedom Unlimited® card with no annual fee.
Monitor Your Credit Health:
Track your credit score and receive alerts with Chase Credit Journey, offering free access to your latest score and more.
Member FDIC:
Chase is a Member FDIC, providing protection for your funds.
Pros:
- No annual fee
- Introductory APR period
- High rewards rate
- No minimum redemption threshold
Cons:
- Requires good to excellent credit
- Spend $500 and get $200 bonus on purchases within the first 3 months.
- Receive unlimited 2% cash back on all purchases.
- 0% intro APR for 15 months on purchases & qualifying balance transfers from account opening. After this period, a variable APR of 20.24%, 25.24%, or 29.99% applies. Balance transfers made within the first 120 days are eligible for the introductory rate with a fee of 3%, after which a balance transfer fee of up to 5% (minimum $5) applies.
- No annual fee.
- No need to track categories or remember spending limits; cash rewards do not expire as long as your account is open.
- Access top sports and entertainment events, book travel, make dining reservations, and more with your complimentary 24/7 Visa Signature® Concierge.
- Enjoy up to $600 in mobile phone protection against damaging or theft, subject to a $25 deductible.
Pros:
- High rewards rate
- No annual fee
- Introductory APR period
Cons:
- No bonus categories
Welcome Offer: Get $250 to use on Capital One Travel in your first year, plus earn 75,000 bonus miles after spending $4,000 in the first 3 months—equivalent to $1,000 in travel.
Unlimited Miles: Earn 2X miles on every purchase, every day.
Travel Bonus: Earn 5X miles on hotels and rental cars booked through Capital One Travel, offering the best prices on thousands of options.
No Expiration: Miles never expire as long as your account is open, with no limit on how many you can earn.
Travel Credits: Receive up to $100 credit for Global Entry or TSA PreCheck®.
Flexible Redemption: Use miles to cover any travel purchase or book trips through Capital One Travel.
Hotel Perks: Enjoy benefits like a $50 experience credit and room upgrades with the Lifestyle Collection.
Transfer Options: Transfer your miles to more than 15 travel loyalty programs for added flexibility.
Advantages:
- High rewards rate
- Flexible redemption options for rewards
Disadvantages:
- Annual fee required
- Requires good to excellent credit
Exclusive Offer: Click “Apply Now” to access this special offer and discover all product features, terms, and conditions.
Bonus Points: Get 20,000 bonus points by spending $1,000 within the first 3 months, worth $200 in cash redemption.
Earning Points: Earn unlimited 3X points on dining, travel, gas, transit, popular streaming services, and phone plans. Get 1X points on all other purchases.
No Annual Fee: Enjoy all these benefits with no annual fee.
Introductory APR: Benefit from a 0% introductory APR on purchases for the first 12 months. After that, the variable APR will be 20.24%, 25.24%, or 29.99%.
Phone Protection: Receive up to $600 in cell phone protection against damage or theft, with a $25 deductible.
Flexible Redemption: Use your points for travel, gift cards, statement credits, or shop online and redeem them with PayPal.
Concierge Service: Access 24/7 Visa Signature® Concierge to book tickets, travel, dinner reservations, and more.
Pros:
- No annual fee
- Generous bonus categories
- Unlimited rewards
- Cell phone insurance
- Attractive new cardholder bonus
Cons:
- No free checked bags
- No complimentary anniversary night
- Lacks luxury perks
- Requires good to excellent credit
Capital One Platinum Secured Credit Card
$0
0% intro APR on Purchases for 18 billing cycles and 0% intro APR on Balance Transfers for 18 billing cycles for any balance transfers made in the first 60 days
0% Introductory APR: Enjoy a 0% introductory APR on purchases and balance transfers made within the first 60 days for 18 billing cycles. After this period, a variable APR ranging from 16.24% to 26.24% will apply.
Balance Transfer Fee: A 3% fee applies to balance transfers made during the first 60 days. After this, the fee increases to 4%.
No Annual Fee: There is no annual fee for this card.
No Penalty APR: Late payments won’t result in a higher APR. Other account terms and pricing may apply.
Free FICO® Score Access: View your FICO® Score at no cost through Online Banking or the Mobile Banking app.
Contactless Payments: Get the convenience of contactless payments combined with the security of a chip card.
Exclusive Online Offer: This offer is available only online. It may not be accessible if you navigate away from this page or visit a Bank of America branch. Apply now to receive this offer.
Pros:
- No annual fee
- 0% introductory APR period
Cons:
- Requires good to excellent credit
- No ongoing rewards
OpenSky® Secured Visa® Credit Card
$0
Enjoy 0% introductory APR for 21 months on purchases and qualifying balance transfers from the date of account opening.
- Apply Now: Click “Apply Now” to explore this offer and review product features, terms, and conditions.
- Introductory APR: Enjoy 0% APR on purchases and eligible balance transfers for 21 months from account opening. After this period, a variable APR of 18.24%, 24.74%, or 29.99% will apply. Balance transfers made within 120 days qualify for the introductory rate, with a 5% fee (minimum $5).
- Annual Fee: $0
- Cell Phone Protection: Get up to $600 in coverage for cell phone damage or theft, with a $25 deductible.
- Personalized Deals: Access exclusive offers through My Wells Fargo Deals. Earn cash back as an account credit on shopping, dining, and other experiences by using your eligible Wells Fargo credit card.
-
No annual fee
-
Intro APR period
-
No rewards
OpenSky® Plus Secured Visa® Credit Card
$0
Receive 0% intro APR for 18 billing cycles on purchases and balance transfers.
- 0% Intro APR on purchases and balance transfers for the first 18 billing cycles. After that, a variable APR of 18.74% – 29.74% will apply.
- Up to $600 protection on your cell phone (subject to a $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your U.S. Bank Visa® Platinum Credit Card. Certain terms, conditions, and exclusions apply.
- Choose a payment due date that fits your schedule.
- No annual fee.
- Terms and conditions apply.
Pros
- No annual fee
- Extended Intro APR period
- Cell phone protection plan
Cons
- No rewards program
- Requires good to excellent credit
- No sign-up bonus
Boost your rewards with Discover’s special offer! During your first year, Discover will automatically match all the cash back you earn—there’s no limit to how much you can earn or match. For example, if you earn $150 cash back, Discover will double it to $300!
Here’s what you get:
- 5% Cash Back: Earn 5% cash back on everyday purchases at various places each quarter, like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate.
- 1% Cash Back: Get unlimited 1% cash back on all other purchases automatically.
Easy Reward Redemption: Redeem your cash back for cash at any time.
Quick and Easy Application: Apply today and receive a decision in as little as 60 seconds.
Added Protection: Discover helps you safeguard your personal information by removing it from select people-search websites that might sell your data. This service is free when you activate it through the mobile app.
0% Introductory APR: Enjoy a 0% intro APR on purchases for the first 15 months. After that, a variable APR of 18.24% to 28.24% applies based on your creditworthiness.
No Annual Fee! Terms and conditions apply.
Pros:
- No annual fee
- Introductory APR period
- Bonus categories for extra rewards
- Cash back on all purchases
Cons:
- Reward structure can be complex
- Spending limits on bonus rewards
- Limited acceptance outside the U.S
DCU Visa® Platinum Secured Credit Card
$0
0% intro APR for 15 months on purchases and balance transfers
Earn a $200 Statement Credit
Receive a $200 statement credit after spending $2,000 on your new Card within the first 6 months.No Annual Fee
There’s no annual fee for this card.Balance Transfer Offer
Balance Transfer is back! Enjoy 0% intro APR on purchases and balance transfers for 15 months from the date of account opening. After that, a variable APR of 19.24% to 29.99% applies.Cash Back at U.S. Supermarkets
Earn 3% Cash Back at U.S. supermarkets on up to $6,000 in purchases per year, then 1% after that.Cash Back on U.S. Online Retail Purchases
Earn 3% Cash Back on U.S. online retail purchases, up to $6,000 annually, then 1% thereafter.Cash Back at U.S. Gas Stations
Earn 3% Cash Back at U.S. gas stations on up to $6,000 per year, then 1% thereafter.Cash Back Redemption
Cash Back is received as Reward Dollars, which can be redeemed as a statement credit or at checkout on Amazon.com.Disney Bundle Offer
Thinking about getting the Disney Bundle, which includes Disney+, Hulu, and ESPN+? Get $7 back each month as a statement credit when you spend $9.99 or more monthly on an eligible subscription (subject to auto renewal) using your Blue Cash Everyday® Card. Enrollment required.Home Chef Offer
Enjoy up to $15 back per month when you purchase a Home Chef meal kit subscription (subject to auto renewal) with your enrolled Blue Cash Everyday® Card.Terms and Conditions
Terms Apply.
Pros
- No annual fee
- Generous rewards rate
- Introductory APR period
- Multiple bonus categories
Cons
- Requires good to excellent credit
- Spending limits on bonus rewards
Navy Federal Credit Union® nRewards® Secured Credit Card
$0
0% introductory APR on purchases for 15 billing cycles and 0% introductory APR on balance transfers for 15 billing cycles, applicable to balance transfers made within the first 60 days.
Earn a $200 online cash rewards bonus after spending at least $1,000 within the first 90 days of account opening.
Get 3% cash back in a category of your choice, 2% cash back automatically at grocery stores and wholesale clubs (up to $2,500 in combined purchases each quarter for your chosen category, grocery stores, and wholesale clubs), and unlimited 1% cash back on all other purchases.
Choose 3% cash back on purchases in categories such as gas and EV charging stations, online shopping, cable, internet, phone plans, streaming services, dining, travel, drugstores, or home improvement and furnishings.
If you’re a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase, potentially earning 3.75%-5.25% cash back in your selected category.
No annual fee, and your cash rewards don’t expire as long as your account remains open.
Enjoy 0% Intro APR for 15 billing cycles on purchases, and on balance transfers made within the first 60 days. After the Intro APR period ends, a Variable APR of 19.24% to 29.24% will apply. A 3% Intro balance transfer fee applies during the first 60 days; after that, the fee is 4%.
Benefit from the security of a chip card with the convenience of contactless payments.
This online-only offer may not be available if you leave this page or visit a Bank of America financial center. Take advantage of this offer by applying now.
Pros
- No annual fee
- Bonus offer for new cardholders
- Rotating bonus categories
- Extra rewards for existing customers
- Introductory APR period
Cons
- Requires good to excellent credit
- Rewards structure can be complex
- Spending limits on bonus rewards
- Top rewards are reserved for certain customers
FULL LIST OF EDITORIAL PICKS: BEST SECURED CREDIT CARDS
Discover it® Secured Credit Card
Our pick for: Rewards, bonus offer & upgrading
The Discover it® Secured Credit Card is a standout choice, offering 2% cash back at gas stations and restaurants (up to $1,000 in combined purchases each quarter) and 1% on all other purchases. Plus, Discover matches all the cash back you earn at the end of your first year. After eight months, your account is reviewed for possible upgrade to an unsecured card.
Capital One Quicksilver Secured Cash Rewards Credit Card
Our pick for: Rewards and upgrading
This card offers 1.5% cash back on every purchase, with no limits or categories. It’s ideal for those who want to earn rewards while working towards upgrading to an unsecured card. Capital One reviews your account after six months for potential graduation.
Capital One Platinum Secured Credit Card
Our pick for: Low deposit
The Capital One Platinum Secured Credit Card is a solid choice for those who want a lower deposit requirement. Depending on your creditworthiness, you may be able to secure a $200 credit line with a deposit as low as $49.
Citi® Secured Mastercard®
Our pick for: Basic card for thin credit
The Citi® Secured Mastercard® is a no-frills option for those new to credit. It doesn’t offer rewards but provides an essential tool for building credit with responsible use.
OpenSky® Secured Visa® Credit Card
Our pick for: No credit check + lower deposit
OpenSky® doesn’t require a credit check, making it an accessible option for those with poor or no credit history. The minimum deposit starts at $200, making it affordable to get started.
OpenSky® Plus Secured Visa® Credit Card
Our pick for: No credit check + no annual fee
The OpenSky® Plus Secured Visa® Credit Card is perfect for those who want to avoid a credit check and annual fee. This card is a great option if you want to rebuild credit without worrying about additional costs.
Chime Secured Credit Builder Visa® Credit Card
Our pick for: Easy account management
Chime offers a straightforward secured credit card experience, with no annual fees, interest, or credit checks. You fund your card through a Chime Spending Account, making it easy to manage your credit-building efforts.
Self Secured Visa® Credit Card
Our pick for: No upfront deposit or credit check
The Self Secured Visa® is unique as it doesn’t require an upfront deposit. Instead, it’s linked to a credit-builder account where you make monthly payments. This card helps you build savings while establishing credit.
Credit Builder Secured Visa® Credit Card
Our pick for: Adjustable credit limit
This card allows you to increase your credit limit by adding more to your security deposit over time. It’s an excellent choice for those who want flexibility as they build their credit.
Navy Federal Credit Union® nRewards® Secured Credit Card
Our pick for: Military
Exclusive to military members and their families, the Navy Federal nRewards® Secured Credit Card offers rewards on every purchase, with the potential to graduate to an unsecured card after six months. It’s a great option for those connected to the armed forces.
Getting a Secured Credit Card to Build Credit
A secured credit card is a smart way to build or rebuild credit, especially if you’re starting with little or no credit history. By using the card responsibly and making on-time payments, you can improve your credit score over time. Many of these cards also offer opportunities to upgrade to an unsecured card, which means you could eventually get your deposit back and enjoy more credit benefits.
Who Can Be Approved?
Secured credit cards are typically easier to get approved for than unsecured cards, even if you have bad credit or no credit history. Since your credit limit is secured by a deposit, issuers face less risk and are more likely to approve your application. Some cards, like the OpenSky® Secured Visa® Credit Card, don’t even require a credit check.
Alternatives to Secured Credit Cards
If a secured card doesn’t seem like the right fit, consider alternatives like unsecured cards designed for bad credit or credit-builder loans. These options also help improve your credit score with responsible use but might come with different terms, fees, or interest rates.
Unsecured Cards for Bad Credit
Unsecured credit cards for bad credit don’t require a deposit, but they often come with higher interest rates and fees. They’re an option if you can’t afford a deposit or want to keep your cash free for other expenses. Just be sure to read the terms carefully and use the card responsibly to avoid getting into more debt.
Frequently Asked Questions
A secured credit card requires a security deposit that acts as your credit limit. It’s designed to help people with bad or no credit build their credit score.
Yes, if you upgrade to an unsecured card or close your account in good standing, your deposit is typically refunded.
By making on-time payments and keeping your balance low, a secured credit card can help you build a positive credit history, which in turn improves your credit score.
Some secured credit cards come with annual fees, but many of the best options have no fees or minimal fees. Always check the card’s terms before applying.
Methodology
Our editorial team carefully evaluates credit cards based on a variety of factors, including fees, interest rates, rewards, and the ease of upgrading to an unsecured card. We also consider each card’s accessibility for those with poor or no credit history. By weighing these factors, we aim to provide recommendations that help you make informed financial decisions.