List Of Secured Credit Cards For People With Bad Credit Or No Credit

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Secured credit cards are a great way to establish or help repair a damaged credit rating. They work by applying a deposit equal to the credit line you are seeking, which after one year will be returned to you. Many different banks and financial institutions offer these types are cards. We have taken the time to locate these banks and have provided a list of them below.

Applied Bank® Platinum Zero™ Secured Visa® Credit Card comes with a credit line of $500. They have a 0% fixed APR on purchases and this rate in not a intro rate. There is however a $9.95 monthly maintenance fee and the annual percentage rate on cash advances is 9.99%. There are no application fees to apply and when approved you will get the benefits of free personal ID theft protection and timely credit bureau reporting.


The Capital One Secured MasterCard can get you up to a $3000 credit line and the security deposit is refundable. There are no processing fees or application fees and when approved they offer automatic reporting to the 3 major credit bureaus and tools to help you track your credit score. They also may qualify you for credit line increases with no additional security deposit.

The First Premier Bank Secured MasterCard is also available for those with less than perfect credit. You must have a checking account to qualify and if approved you need to apply a $95 security deposit and in return you will receive a $300 credit line along with monthly reporting of payments to Trans Union, Experian and Equifax. If you decide to close your account, simply pay off your balance and you will receive your security deposit back in full.

The Public Savings Bank Secured Visa is a easy card to get approved for because the do not require a credit check or even a checking account to apply. Individuals make a deposit into an FDIC-insured account that acts as a security deposit. They can then make purchases anywhere Visa is accepted or take cash advances up to the deposited credit line amount, currently between $300-$2000. Customers can fund their account via Western Union, ACH, wire transfer, check or money order. Payments are reported to all three major credit bureaus (TransUnion, Experian and Equifax).

If you need a high credit limit, the Wells Fargo Secured Card is the highest card of this type that we have seen. You deposit $300-$10,000 into a collateral account and your credit line will directly reflect the amount of your deposit. After 12 months, you may be eligible to graduate to an unsecured credit card, and get back the money you deposited in your security deposit account. To be eligible you must be at least 18 years old and have not declared bankruptcy within the past 12 months or have any unsettled liens. Other benefits of the Wells Fargo secured card is monthly reporting to credit bureaus, automatic fraud monitoring, zero liability for promptly reported unauthorized use, free online account access with 24-hour customer service, credit card transaction alerts on your mobile device, and automatic car rental insurance.

U.S. Bank also offers a secured Visa credit card which will be secured by a U.S. Bank FDIC-insured, interest-earning savings account. When you have managed all of your credit card payments consistently for 12 months they may be able to move you to an unsecured credit card. Secured credit lines range from $300 to $5,000 which is equal to the amount of your deposit.

Bank Of America offers a secured card that comes with no activation or application fees. There is a annual fee that is currently $39. They will review your account after 12 months for eligibility to upgrade to an unsecured card and a refund of your security deposit. The security deposit ranges from $300 to $10,000 and your credit line will equal the amount of that deposit.

Disclaimer: The above information was written in good faith, but we cannot guarantee accuracy or credit approval. If you feel the information is inaccurate or have a credit card you wish to add to our list, please email us at [email protected].