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The Best Secured Credit Cards

Secured Credit Cards are credit cards for bad credit that require a deposit for approval. Most cards listed report to credit reporting agencies, which may potentially help you establish credit.

Credit cards have been demonized over the past few years, but a credit card is often necessary for a healthy financial life. If you are just starting out with credit or need to rebuild it after a financial failure, you should begin with a secured credit card for 2012.

What is a Secured Credit Card?

Secured Credit Card Definition:  A secured credit card is a credit card for those with limited or bad credit histories. You deposit a certain amount of money with the issuing bank, usually $300 to $500, and that becomes your line of credit. The deposit is your collateral, or security, for the credit card.

Show the bank you can handle credit

In time, you'll be able to add more to the deposit so that you can increase your credit line. If you manage your credit very responsibly, a bank may reward you with a greater credit line without asking you for a larger deposit.

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UPside Visa Prepaid Card


Editor's Rating:4 Stars
  • Better than a checking account with a Visa prepaid card
  • Save up to $220 compared with other cards, the first year alone
  • 100% approval with no credit check and no activation fee
  • $0.99 monthly fee if $500 is loaded each month. (Only $4.95 otherwise)
  • Free Direct Deposit from employers or deposit cash at 50,000 retailers
  • Write personal checks online: easy to pay rent or other bills
  • Earn 1,500 cash back reward points for you first direct deposit load
  • Optional companion card available, as if you had a joint checking
    Apply online forhttp://images.nextinsure.com/accounts/11197537.jpg
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    Orchard Bank Classic MasterCards® - Beach


    Editor's Rating:4 Stars
    • An excellent credit card for help rebuilding credit; reports to 3 major credit bureaus monthly!
    • Acceptance at millions of locations worldwide, including website purchases and reservations
    • Your account information is updated and at your fingertips 24/7 so you can manage it your way
    • Email and text messages are available to remind you of your upcoming payment due date
    • Knowledgeable customer service representatives to assist you with questions or concerns
    Apply online forhttp://images.nextinsure.com/accounts/11197949.JPG
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    Orchard Bank® Visa® Card


    Editor's Rating:4 Stars
    • Reports to 3 major credit bureaus monthly providing you the opportunity to rebuild your credit
    • Acceptance at millions of locations worldwide, including website purchases and reservations
    • Your account information is updated and at your fingertips 24/7 so you can manage it your way
    • Email and text messages are available to remind you of your upcoming payment due date
    • Knowledgeable customer service representatives to assist you with questions or concerns
    Apply online forhttp://images.nextinsure.com/accounts/11197791.jpg
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    Green Dot Prepaid Debit Card


    Editor's Rating:2 Stars
    • No credit check or bank account required
    • No minimum balance
    • Access more than 18,000 participating MoneyPass ATMs with no withdrawal fees
    • Direct deposit your payroll or benefit check
    • Simple fee plan with no overdraft fees
    • Pay No Monthly Charge in any month that you have at least 30 purchases post to your Card or load $1,000
    Rates / APY terms above are current as of the date indicated. These quotes are from banks, credit unions and thrifts, some of which have paid for a link to their website. Bank, thrift and credit union deposits are insured by the FDIC or NCUA. Contact the bank for the terms and conditions that may apply to you. Rates are subject to change without notice and may not be the same at all branches.

    Orchard Bank® Visa® Card

    Reports to 3 major credit bureaus monthly providing you the opportunity to rebuild your credit score. Acceptance at millions of locations including website purchases and reservations. Your account information is updated and at your fingertips 24/7 so you can manage it your way. Email and text messages to remind you of your upcoming payment due date with online enrollment. Knowledgeable customer service representatives to assist you with questions or concerns

    Account Now Debit MasterCard

    100% guaranteed approval, No credit check needed. Free credit builder and bill pay.

    Amalgamated Bank Secured MasterCard

    Secured credit card offers a Prime + 6.0 or 9.0% rate and a $50 annual fee.

    American Savings Bank Secured Visa

    Line of credit is secured by an equal amount of funds held on deposit in a Statement Savings account at American Savings Bank.

    Merrick Bank Secured MasterCard

    Make a security deposit between $300 and $3,000; that is your secured card's credit line. Merrick Bank reports to the major credit reporting agencies.

    US Bank Secured Visa Credit Card

    Make a security deposit between $300 and $5,000, which is deposited in a bank account. This acts as your credit line, but payments are not deducted from this account as long as you make your monthly payments on time.

    Wells Fargo Secured Credit Card

    Make a deposit of $300-$5,000 to a "collateral account." Your collateral account determines your limit, and that money is held as a deposit. You make monthly payments on your charges, just like a credit card.


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