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Secured Credit Cards Better Business Bureau Reliability Seal

The use of credit cards have become common practice for internet shopping, car rentals, travel reservations and so much more. Unfortunately, people that have had some past glitches in their credit history know how hard it can be to qualify for a credit card.

Secured credit cards give you the freedom of having a credit card, without the strict requirements of having to qualify for one. A secured credit card works differently than most credit cards. You must first make a cash payment, in advance, in order to use your secured credit card. After responsible use of the card, the secured credit card company will typically allow some credit without a deposit. This can ultimately improve your credit score and start improving your credit history.

Continue reading below reviews

2017

Secured Credit Card Reviews

5 stars
USAA Secured Card® Platinum Visa®
TopConsumerReviews.com Best-In-Class Blue Ribbon Award

USAA Secured Card® Platinum Visa®

USAA Eligibility Requirement: Today, USAA membership is only open to U.S. military service members, veterans who have received a discharge type of Honorable, and their eligible family members.
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3 stars
primor® Secured Visa Classic Card

primor® Secured Visa Classic Card

Credit lines available from $200 to $5,000! Low fixed 13.99% interest rate on purchases - with no penalty rate!
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3 stars
primor® Secured Visa Gold Card

primor® Secured Visa Gold Card

Credit lines available from $200 to $5,000! Super Low Fixed 9.99% interest rate on purchases - with no penalty rate!
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3 stars
Excent™ Secured Visa Blue Card

Excent™ Secured Visa Blue Card

Build Credit History - Reports to all 3 nationwide credit bureaus
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3 stars
USAA Secured Card® American Express® Card

USAA Secured Card® American Express® Card

USAA Eligibility Requirement: Today, USAA membership is only open to U.S. military service members, veterans who have received a discharge type of Honorable, and their eligible family members.
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3 stars
UNITY® Visa Secured Credit Card

UNITY® Visa Secured Credit Card

Unlike your Prepaid Card, UNITY Visa secured card can help you build your credit. Apply online in less than 5 minutes, and you could be approved today!
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3 stars
First Progress Platinum Elite MasterCard® Secured Credit Card

First Progress Platinum Elite MasterCard® Secured Credit Card

Fund your new MasterCard® secured credit card with your tax refund today!
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3 stars
First Progress Platinum Prestige MasterCard® Secured Credit Card

First Progress Platinum Prestige MasterCard® Secured Credit Card

Fund your new MasterCard® secured credit card with your tax refund today!
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3 stars
First Progress Platinum Select MasterCard® Secured Credit Card

First Progress Platinum Select MasterCard® Secured Credit Card

Fund your new MasterCard® secured credit card with your tax refund today!
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3 stars
OpenSky® Secured Visa® Credit Card

OpenSky® Secured Visa® Credit Card

No credit check necessary to apply. OpenSky believes in giving an opportunity to everyone.
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Continued from above

All secured credit card companies work a little differently, so it's important to consider the following aspects:

  • Charges. What kind of charges can you anticipate with your secured credit card? Do they require an application fee? If so, how much?
  • Deposits. How much of a deposit does the secured credit card require?
  • Interest rates. What interest rate is charged on your outstanding balance with the secured credit card?

TopConsumerReviews.com has reviewed and ranked the best secured credit cards available today. We hope these reviews help you find the right secred credit card that meets your needs!

How a Secured Credit Card Can Help Rebuild Your Credit

If you've had some tough financial times you're probably experiencing a lot of hesitancy from creditors when it comes to approving your car or home loan application, a new credit card or even small business loan. Creditors want to see that you can spend responsibly and very importantly, that your monthly payments will show up on-time and as expected. There are several ways to improve your credit but obtaining a secured credit card is one place to start and here's why:

  • If your old credit cards have been closed, due to bankruptcy, poor spending or an erratic payment history, you'll have a hard time applying for a new one. Secured credit cards give almost anyone access to a Visa or MasterCard. The key to a secured credit card is a cash collateral deposit, typically the amount of credit you'll be granted, minus fees. However, once you've proven that you can spend responsibly, sometimes up to 12 to 18 months or less, these companies will upgrade the card to a more traditional line of credit. In turn, your new line of credit will appear on your credit history and will reflect positively.
  • Using your secured credit card wisely will improve your credit score and history as well as open doors to a better credit card in the future. One with fewer annual fees and a much lower interest rate. When you have one or more open credit cards, which reflect positive spending, it opens the door for additional creditors to lend for bigger ticket items.

Once you've obtained a secured credit card and a line of credit it's imperative you continue to prove your credit worthiness with the following steps:

  • Always, always, always make your monthly payment on time. Actually, shoot for at least a week before the due date to make sure any delays will not stop your payment from arriving on time. Making on-time minimum credit card payments consistently has a significant impact on your credit score and how future lenders will view your credit worthiness.
  • Don't exceed your credit limit even once. In fact, try to stay within a third of the available credit. Creditors are quick to report credit limit violations to the credit agencies and this will instantly stand out to future creditors. Utilizing only a portion of your available credit is most favorable. If at all possible, make attempts to pay off your balance each month to demonstrate responsible spending.

If you're working to improve your credit score start with a secured credit card and, from the start, make every effort to demonstrate responsible spending to earn and keep a line of credit. Payments must be sent early each month and avoid utilizing the full line of credit for best results.

 

The Best Starter Credit Cards Regardless of Your Credit Score

you probably won't qualify for a regular credit card. And that's also true if you have bad credit. Instead, you'll need to check out a secured credit card. In this category, you just can't beat the Discover it® Secured Card - No Annual Fee.

Published:  Mon, 13 Nov 2017 14:35:00 GMT



10 Smart Steps to Apply for a Credit Card - and Get Approved

If you have trouble getting instant approval for credit cards because you have no credit or bad credit, consider a secured credit card. A secured credit card requires a deposit to be used if you don't pay your bill. Otherwise, it works just like a ...

Published:  Sun, 19 Nov 2017 02:07:00 GMT



How Can Immigrants Build Credit

If you aren't able to quality for a regular credit card on your own, a secured card can be a smart option to start building credit scores. A secured card requires that you keep money on deposit-that's what "secured" refers to-at a bank or ...

Published:  Mon, 13 Nov 2017 15:20:00 GMT



10 Things Everyone Should Know About Credit Cards

A secured credit card could be your answer to raising your credit score, and there are plenty of them out on the market. Another important thing to know is the difference between a secured and an unsecured card. The difference is basically this ...

Published:  Sun, 12 Nov 2017 13:55:00 GMT



Do's and don'ts when giving teens their first credit card

Apps such as CardValet will send you transaction alerts and set spending limits. Consider a secured card, in which you put down a deposit (say, $250) that becomes the credit line for that account. The account would be in your name, but you can add your ...

Published:  Mon, 13 Nov 2017 07:35:00 GMT



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