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The Best Secure Credit Cards

A secured credit card requires you to deposit money into a savings account as security for your line of credit. The required deposit usually ranges from a few hundred to a few thousand dollars. Your credit line then becomes a percentage of that deposit—typically between 50 and 100 percent. Otherwise, the secured card works exactly the same way as an unsecured card—no one but you and your bank will know that the card is secured.

Because you deposit money into the bank before you can receive credit, it’s often easier to get accepted for a secured card than an unsecured one. For this reason, secured cards can be useful for establishing or rebuilding your credit history, and may be the best credit card for you. However, secured cards typically have higher interest rates and annual fees than unsecured cards.

These are the best credit cards if you’re looking for a secured credit card:

Household Bank and Orchard Bank MasterCards
Offer both secured and unsecured
MasterCard® to help establish or re-establish your credit.
Offer complimentary Online Bill Pay
Competitive APR
Great customer service

NMB Platinum Card
Annual fee: $59, Processing fee: $69.95
Get guaranteed approval w/ no credit check! Credit line of $300 to $10,000, depending on deposit. Plus, get great travel rewards
Associated Fees: Annual fee: $59, Processing fee: $69.95
Get guaranteed approval w/ no credit check! Credit line of $300 to $10,000, depending on deposit. Plus, get great travel rewards

Orchard Bank Gold MasterCard

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