Featured Partner Offer
Discover it® Secured Credit Card
On Discover's Website
4.2
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
On Discover's Website
Up to 2% Reward Rate
Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. PlusRead More
Welcome Bonus
Cashback Match™
Annual Fee
$0
Regular APR
28.24% Variable APR
Credit Score
New/Rebuilding Credit
Editorial Review
In the secured credit world, the Discover it® Secured Credit Card stands above the competition. With an unlimited 1% cash back rate on all purchases, plus 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, no penalty APR and no annual fee, we love this card for those who need to rebuild their credit. The matching cash back reward at the end of your first year is a sweet bonus.
Pros & Cons
- No annual fee
- Cash back rewards earning is uncommon for a secured card
- Free FICO score access each month
- Cashback Match doubles cash back rewards earning at the end of the first year
- Bonus category rewards are capped
- Secured cards don’t provide many of the perks unsecured cards do
- Secured cards require refundable deposits
Card Details
- No credit score required to apply.
- No Annual Fee, earn cash back, and build your credit history.
- Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
- Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
- Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
- Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
- Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
- Terms and conditions apply.
Intro Offer: Unlimited Cashback Match™ - only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! There's no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Best Secured Credit Cards of 2024
BEST FOR REWARD-EARNING POTENTIAL
Bank of America® Customized Cash Rewards Secured Credit Card *
5.0
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Up to 3% Reward Rate
Earn 3% cash back in the category of your choice: gas and EV charging, online shopping, dining, travel, drug storesRead More
Welcome Bonus
N/A
Annual Fee
$0
Regular APR
28.24% variable
Credit Score
New to Credit
Our Expert Take
A secured card with no annual fee and the ability to earn rewards, this Bank of America card can provide a way forward for those needing to build their credit profile.
Pros & Cons
- No annual fee
- Earns cash-back rewards on eligible purchases
- Potential for an upgrade to an unsecured card
- The rewards system can be complicated to track
- An opening deposit of $200 is required
- There’s a foreign transaction fee
Card Details
- Earn 3% cash back in the category of your choice: gas and EV charging, online shopping, dining, travel, drug stores, or home improvement & furnishings
- Earn 2% cash back at grocery stores and wholesale clubs
- Earn unlimited 1% cash back on all other purchases
- You’ll earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%
- A minimum refundable security deposit of $200 (maximum of $5,000) is required to open this account
- Now, you can access your FICO® Score updated monthly for free, within your Mobile Banking app or in Online Banking
- No annual fee
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
BEST FOR CHOOSING YOUR OWN BONUS CATEGORY
U.S. Bank Cash+® Secured Visa® Card *
4.9
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Up to 5X Reward Rate
5% cash back on on the first $2,000 in combined eligible purchases each quarter in two categories of choice, 2%Read More
Welcome Bonus
N/A
Annual Fee
$0
Regular APR
29.99% variable
Credit Score
Bad/Poor(0 - 649)
Our Expert Take
Not only does it earn rewards, which is rare among secured cards but you can choose your own bonus adventure from a list of several everyday common spending areas.
Pros & Cons
- High rewards potential for a secured card
- $0 annual fee
- Useful convenience benefits
- Requires a deposit as any secured card does
- High variable APR
- Foreign Transaction Fees: 3% of each foreign transaction
Card Details
- Earn 5% cash back on the first $2,000 in combined eligible purchases each quarter in two categories you choose
- Earn 2% cash back on eligible purchases in your choice of one everyday category (like gas stations, grocery stores and restaurants)
- Earn 1% cash back on all other eligible purchases
- Also earn 5% cash back on prepaid hotel, car, or air reservations when booked directly in the Rewards Travel Center
- Choose payment due date
- $0 annual fee
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
BEST SECURED CARD FOR EARNING POINTS
U.S. Bank Altitude® Go Secured Visa® Card *
4.9
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Up to 4X Reward Rate
Earn 4x points on dining and takeout, 2x points at grocery stores, gas stations and on streaming services and 1xRead More
Welcome Bonus
N/A
Annual Fee
$0
Regular APR
29.99% variable
Credit Score
Bad/Poor(0 - 649)
Our Expert Take
If your biggest expenses are on dining and takeout, this is one of the best secured card offers available.
Pros & Cons
- Reports to all three major credit bureaus
- No annual fee
- Comes with a $15 annual streaming credit for eligible services
- Minimum deposit of $300 is required
- Non-bonus categories earn so-so rewards
- Other secured cards may offer rewards that better align with your spending
Card Details
- Earn 4 points per dollar spent on dining and takeout
- Earn 2 points at grocery stores, gas stations and on streaming services and 1 point on all other eligible purchases
- Earn a $15 streaming credit for annual streaming service purchases like Netflix and Spotify
- $0 annual fee
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
BEST FOR LOW APR
First Progress Platinum Prestige Mastercard® Secured Credit Card
Apply Now
On First Progress's Website
4.7
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Apply Now
On First Progress's Website
1% Cash Back
1% Cash Back Rewards on payments
Welcome Bonus
None
Annual Fee
$49
Regular APR
15.24% (Variable)
Credit Score
Poor/Limited/No Credit
Our Expert Take
Here is First Progress’ lowest APR secured card, but it charges a hefty $49 annual fee. A low APR is a valuable feature in an unsecured card, but it doesn’t make sense to carry a balance on a secured card; you’re paying interest to the bank on your own money. It’s a better idea to use a secured card with a lower annual fee to build your credit.
Expert Commentary
Albert Hsieh
Credit Cards and Reward Points Expert
Albert Hsieh is founder and CEO of Foxtrot Dash Inc., a San Francisco-based travel rewards marketplace offering a smart wallet that recommends 30,000 ways to maximize the redemption of hard-earned credit card and travel rewards points. He has proudly redeemed over 30 million reward points, and he and the Foxtrot Dash team boast over three decades of points and miles experience.
Albert has had a lifelong passion for aviation largely sparked by his dad, who retired after 30 years with United Airlines at San Francisco and Oakland. Since childhood, Albert grew fascinated by premium air travel and flew “The Tulip” (the nickname for United's fondly remembered "U" logo) to destinations far and near, with Taiwan, Japan and Egypt ranked as his top favorites.
With an unwavering commitment to the global travel industry, Albert served for 20 years as a commercial and marketing leader at Fortune 500 travel companies including JetBlue, China Airlines, XOJET and Westfield Airports LAX. He later worked as a consultant for Jet Edge, leading a companywide rebrand before their VistaJet acquisition. In recent years, Albert launched his Instagram feed where he captures his global credit card points and airline miles adventures with impeccable photography of luxury airline cabins and beautiful hotels.
His work is regularly featured in social campaigns, and he has drawn mentions in The New York Times and Nob Hill Gazette. On the Money Seed podcast, he has been heard discussing the future of credit card reward points, global travel trends and loyalty programs. When he's not traveling, Albert enjoys life on the West Coast by seeking out new restaurants and world-class wineries, and by spending quality time with loved ones.
Albert Hsieh
Albert Hsieh
Credit Cards and Reward Points Expert
Albert Hsieh is founder and CEO of Foxtrot Dash Inc., a San Francisco-based travel rewards marketplace offering a smart wallet that recommends 30,000 ways to maximize the redemption of hard-earned credit card and travel rewards points. He has proudly redeemed over 30 million reward points, and he and the Foxtrot Dash team boast over three decades of points and miles experience.
Albert has had a lifelong passion for aviation largely sparked by his dad, who retired after 30 years with United Airlines at San Francisco and Oakland. Since childhood, Albert grew fascinated by premium air travel and flew “The Tulip” (the nickname for United's fondly remembered "U" logo) to destinations far and near, with Taiwan, Japan and Egypt ranked as his top favorites.
With an unwavering commitment to the global travel industry, Albert served for 20 years as a commercial and marketing leader at Fortune 500 travel companies including JetBlue, China Airlines, XOJET and Westfield Airports LAX. He later worked as a consultant for Jet Edge, leading a companywide rebrand before their VistaJet acquisition. In recent years, Albert launched his Instagram feed where he captures his global credit card points and airline miles adventures with impeccable photography of luxury airline cabins and beautiful hotels.
His work is regularly featured in social campaigns, and he has drawn mentions in The New York Times and Nob Hill Gazette. On the Money Seed podcast, he has been heard discussing the future of credit card reward points, global travel trends and loyalty programs. When he's not traveling, Albert enjoys life on the West Coast by seeking out new restaurants and world-class wineries, and by spending quality time with loved ones.
Credit Cards and Reward Points Expert
The First Progress Platinum Prestige Mastercard Secured Credit Card provides a clear path towards a healthy credit history including cash-back incentives for on-time payments.
Pros & Cons
- Reports to all three major credit bureaus
- Lower than average standard APR
- May be an option for those with bad credit seeking an approval
- $49 annual fee
- Foreign transaction fee
- Deposit required
Card Details
- 1% Cash Back Rewards on payments
- Choose your own credit line – $200 to $2000 – based on your security deposit
- Build your credit score. Reports to all 3 credit bureaus
- No minimum credit score required for approval!
- Cardholders who keep their balance low and pay their credit card bill on time every month typically do see an increase in their credit score.
None
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
BEST FOR FLAT-RATE CASH BACK
Bank of America® Unlimited Cash Rewards Secured Credit Card *
4.6
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Unlimited 1.5% Reward Rate
Earn unlimited 1.5% cash back on all purchases
Welcome Bonus
N/A
Annual Fee
$0
Regular APR
28.24% variable
Credit Score
Bad/Poor(0 - 649)
Our Expert Take
Earns an easy-to-manage 1.5% cash back on all your spending without tracking categories or spending caps.
Pros & Cons
- Simple rewards structure is easy to manage
- Potential to graduate to an unsecured card with good payment behavior
- Free access to your FICO Score
- There are other secured cards that may earn you higher rewards.
- There’s a foreign transaction fee
- Minimum deposit of at least $200 required
Card Details
- Earn unlimited 1.5% cash back on all purchases
- Cash rewards don’t expire
- Establish, strengthen or rebuild your credit
- No annual fee
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
BEST CARD FOR A SECURITY DEPOSIT REFUND
Capital One Quicksilver Secured Cash Rewards Credit Card
On Capital One's Website
4.6
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
On Capital One's Website
Welcome Bonus
N/A
Annual Fee
$0
Regular APR
29.99% (Variable)
Credit Score
Limited, Bad
Our Expert Take
For those who don’t mind paying a security deposit to unlock access to rewards earning, this card may be worth considering.
Pros & Cons
- Unlimited 1.5% cash back reward on all eligible purchases
- No foreign transaction fees
- Reports to all three credit bureaus
- Ability to graduate to an unsecured card with good payment behavior
- No bonus categories other than Capital One Travel bookings
- $200 minimum opening deposit
Card Details
- No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you’re approved in seconds
- Put down a refundable $200 security deposit to get a $200 initial credit line
- Building your credit? Using a card like this responsibly could help
- Enjoy peace of mind with $0 Fraud Liability so that you won’t be responsible for unauthorized charges
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options. Terms apply
- Monitor your credit score with CreditWise from Capital One. It’s free for everyone
- Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
BEST FOR NO MINIMUM CREDIT SCORE
First Progress Platinum Select Mastercard® Secured Credit Card
Apply Now
On First Progress's Website
4.4
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Apply Now
On First Progress's Website
1% Cash Back
Earn 1% Cash Back Rewards on payments made to your First Progress Secured credit card account.
Welcome Bonus
N/A
Annual Fee
$39
Regular APR
19.24% (Variable)
Credit Score
Bad Credit(0 - 649)
Our Expert Take
One of a small handful of secured cards where a recently discharged bankruptcy won’t automatically disqualify you from getting approved.
Pros & Cons
- Provides a way for those with low credit scores to rebuild
- Low variable APR for a secured card
- Reports to all three major credit bureaus
- Can apply even with a discharged bankruptcy in your file
- $39 annual fee
- Lower-than-average credit line maximum
Card Details
- 1% Cash Back Rewards on payments
- Choose your own credit line – $200 to $2000 – based on your security deposit
- Build your credit score. Reports to all 3 credit bureaus
- No minimum credit score required for approval!
- Cardholders who keep their balance low and pay their credit card bill on time every month typically do see an increase in their credit score.
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
4.2
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
On Discover's Website
Up to 2% Reward Rate
Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. PlusRead More
Welcome Bonus
Cashback Match™
Annual Fee
$0
Regular APR
28.24% Variable APR
Credit Score
New/Rebuilding Credit
Our Expert Take
In the secured credit world, the Discover it® Secured Credit Card stands above the competition. With an unlimited 1% cash back rate on all purchases, plus 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, no penalty APR and no annual fee, we love this card for those who need to rebuild their credit. The matching cash back reward at the end of your first year is a sweet bonus.
Expert Commentary
Albert Hsieh
Credit Cards and Reward Points Expert
Albert Hsieh is founder and CEO of Foxtrot Dash Inc., a San Francisco-based travel rewards marketplace offering a smart wallet that recommends 30,000 ways to maximize the redemption of hard-earned credit card and travel rewards points. He has proudly redeemed over 30 million reward points, and he and the Foxtrot Dash team boast over three decades of points and miles experience.
Albert has had a lifelong passion for aviation largely sparked by his dad, who retired after 30 years with United Airlines at San Francisco and Oakland. Since childhood, Albert grew fascinated by premium air travel and flew “The Tulip” (the nickname for United's fondly remembered "U" logo) to destinations far and near, with Taiwan, Japan and Egypt ranked as his top favorites.
With an unwavering commitment to the global travel industry, Albert served for 20 years as a commercial and marketing leader at Fortune 500 travel companies including JetBlue, China Airlines, XOJET and Westfield Airports LAX. He later worked as a consultant for Jet Edge, leading a companywide rebrand before their VistaJet acquisition. In recent years, Albert launched his Instagram feed where he captures his global credit card points and airline miles adventures with impeccable photography of luxury airline cabins and beautiful hotels.
His work is regularly featured in social campaigns, and he has drawn mentions in The New York Times and Nob Hill Gazette. On the Money Seed podcast, he has been heard discussing the future of credit card reward points, global travel trends and loyalty programs. When he's not traveling, Albert enjoys life on the West Coast by seeking out new restaurants and world-class wineries, and by spending quality time with loved ones.
Albert Hsieh
Albert Hsieh
Credit Cards and Reward Points Expert
Albert Hsieh is founder and CEO of Foxtrot Dash Inc., a San Francisco-based travel rewards marketplace offering a smart wallet that recommends 30,000 ways to maximize the redemption of hard-earned credit card and travel rewards points. He has proudly redeemed over 30 million reward points, and he and the Foxtrot Dash team boast over three decades of points and miles experience.
Albert has had a lifelong passion for aviation largely sparked by his dad, who retired after 30 years with United Airlines at San Francisco and Oakland. Since childhood, Albert grew fascinated by premium air travel and flew “The Tulip” (the nickname for United's fondly remembered "U" logo) to destinations far and near, with Taiwan, Japan and Egypt ranked as his top favorites.
With an unwavering commitment to the global travel industry, Albert served for 20 years as a commercial and marketing leader at Fortune 500 travel companies including JetBlue, China Airlines, XOJET and Westfield Airports LAX. He later worked as a consultant for Jet Edge, leading a companywide rebrand before their VistaJet acquisition. In recent years, Albert launched his Instagram feed where he captures his global credit card points and airline miles adventures with impeccable photography of luxury airline cabins and beautiful hotels.
His work is regularly featured in social campaigns, and he has drawn mentions in The New York Times and Nob Hill Gazette. On the Money Seed podcast, he has been heard discussing the future of credit card reward points, global travel trends and loyalty programs. When he's not traveling, Albert enjoys life on the West Coast by seeking out new restaurants and world-class wineries, and by spending quality time with loved ones.
Credit Cards and Reward Points Expert
No credit history required, the Discover it® Secured Credit Card offers one of the best credit cards for building or rebuilding a healthy credit history, while earning cash back in select everyday categories.
Pros & Cons
- No annual fee
- Cash back rewards earning is uncommon for a secured card
- Free FICO score access each month
- Cashback Match doubles cash back rewards earning at the end of the first year
- Bonus category rewards are capped
- Secured cards don’t provide many of the perks unsecured cards do
- Secured cards require refundable deposits
Card Details
- No credit score required to apply.
- No Annual Fee, earn cash back, and build your credit history.
- Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
- Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
- Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
- Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
- Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
- Terms and conditions apply.
Intro Offer: Unlimited Cashback Match™ - only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! There's no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
