The 10 Best Secured Credit Cards for Bad Credit in 2019

bad credit card

Bad things happen, and so does bad credit. If you’ve been unlucky with credit cards because of your credit rating, you should know that there are options out there for you. It’s possible to obtain a credit card and even begin rebuilding your credit—regardless of how bad it’s become. The best solution for you is to obtain a secured credit card, which simply means that you’ll have to put some money down as some type of collateral. Whatever amount you can deposit initially will be your starting credit limit. In no particular order, here are the 10 best secured credit cards you should look into this year if you have bad credit.

1. Capital One Secured Mastercard

Capital One has a good selection of credit card options, but there’s really only one card for those with extremely poor credit score. This Secured Mastercard has absolutely zero annual fees, which is beneficial if you can only do a low deposit to begin with. With this card, you can get a credit limit of $200 by depositing as low as $49. Your deposit amount will all depend on your credit. You’ll need to have a checking or savings account in order to qualify.

2. Discover it Secured

This credit card also has no annual fees. The APR is on the higher end at a variable 25.99%, but this card is one of only few secured credit cards that offer rewards. You can get 2% cash back on restaurant and gas charges and 1% back on all other spending. However, your initial deposit has to be transferred directly from a bank. If you don’t have one, you might be out of luck.

3. OpenSky Secured Visa Credit Card

This is probably one of the best credit cards you can apply for if you have bad credit. OpenSky actually doesn’t require a credit check at all. However, you will need to meet the income requirements. You also won’t need to have a bank account for this credit card. You can pay your bill through a debit card, wire transfer, check, or even money order. One negative with this credit card is the annual fee. OpenSky charges a $35 fee every year.

4. Green Dot Primor Visa Gold Secured Credit Card

If you were looking for a card with the lowest fixed APR, it would be this Primor Visa Gold. With a fixed APR of 9.99%, this credit card is really difficult to beat. There are no application fees and no minimum credit requirements. So no matter how bad your credit is, you still have a chance to get approved. You can have a credit limit minimum of $200 or you can have up to $5,000 credit line—if you can afford to put that much for your initial deposit.

5. First Progress Platinum Prestige Mastercard Secured Credit Card

This is a good option for those with no credit history at all. The processing of your application will be quick, so you can know right away if you get approved or not. This First Progress credit card also features a low variable APR of 10.74%. The company reports regularly to the credit bureau, so it’s a good tool to use in order to rebuild your credit. You will be responsible for the $49 annual fee, so make sure that’s something you can handle beforehand.

6. Unity Visa Secured Credit Card

This particular credit card has been dubbed “The Comeback Card.” It’s a great way for you to rebuild your credit. The annual fee is lower than average at $39, and the variable APR is average as well at 17.99%. The minimum security deposit is only $250, so as long as you have that amount ready, you should be approved and ready to go. This credit card doesn’t perform credit checks and there’s no minimum credit score in order to qualify.

7. Citi Secured Mastercard Credit Card

Citi is another major credit card company that likes to give people second chances. It doesn’t have an annual fee, which is great. Your initial deposit will be your credit limit per usual, but you can easily increase that limit with this card as long as your balance is at zero and you can add on to your existing deposit. However, if you’ve had a bankruptcy in the past, you’re likely to get denied with this credit card.

8. U.S. Bank Secured Visa Card

This credit card from U.S. Bank has a good comparison of pros and cons. It does require a higher minimum deposit of $300. Of course your initial deposit will be your credit limit at the end of the day. The APR is reasonable enough, and the grace period for this credit card is longer than average. It features a longer grace period of up to 30 days, which can come in helpful when it comes to payment time.

9. Wells Fargo Secured Visa Credit Card

If you’ve got a lot of cash ready at hand, you can get an extremely high credit limit of up to $10,000 with this card. Otherwise, you can make a deposit as long as you have the minimum of $300. The annual fee for this card is only $25, but be careful of late fees and foreign transaction costs.

10. Merrick Bank Secured Visa Credit Card

This Merrick Bank card is probably one of the most laid-back cards out there. It’s available even for those who have extremely poor credit. You can deposit as little as $200 on the card if that’s all you’ve got at hand. You’ll get charged a $36 annual fee during the first year, but that fee gets broken down into a monthly $3 charge after the first year.


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