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Secured Credit Cards

Building credit takes time. Start with a secured credit card. Secured credit cards are a tool that can help you establish or build your credit history. Make your payments on time each month, and keep your balance low relative to the credit limit, for positive marks on your credit report. If used responsibly, secured credit cards can help you raise your credit score and improve your financial standing. Secured cards are most beneficial for:People with poor FICO scores (579 and below)People with no credit history who want to establish good creditBecause secured credit cards are a tool for people who already have credit problems or need to build a credit history, it’s important to understand exactly how secured credit cards work and which are the best ones available to you.

Secured Credit Cards List

First Progress Platinum Elite MasterCard® Secured Credit Card

  • Fund your new MasterCard® secured credit card with your tax refund today!
  • Receive Your Card More Quickly with New Expedited Processing Option

Citi® Secured Mastercard®

  • No Annual Fee, and unlike a prepaid card, it helps build credit history with monthly notifications to the credit bureaus
  • A security deposit is required for this product (minimum $200)

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!
  • No minimum credit score requirements! We invite all credit types to apply! No processing or application fees!

First Progress Platinum Select MasterCard® Secured Credit Card

  • Fund your new MasterCard® secured credit card with your tax refund today!
  • Receive Your Card More Quickly with New Expedited Processing Option

Discover it® Secured Card - No Annual Fee

  • No Annual Fee, cash back on every purchase, and helps you build your credit with responsible use.
  • Your Secured Card requires a refundable security deposit up to the amount we can approve of at least $200 which will establish your credit line. You will need to provide your bank information when submitting your security deposit.
  • We will automatically begin reviewing your account starting at 8 months to see if we can transition you to an unsecured line of credit.
  • Earn 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all your other purchases.
  • Get a dollar-for-dollar match of all the cash back you%u2019ve earned at the end of your first year, automatically.
  • New! Free Social Security Number alerts, we%u2019ll monitor thousands of risky websites when you sign up.*
  • Click "APPLY NOW" to see rates, rewards, FICO? Credit Score terms, Cashback Match%u2122 details & other information.

SKYPASS Visa Secured Card

  • 5,000 SKYPASS bonus miles after your first purchase
  • 1,000 Bonus miles at renewal.
  • Earn 1 mile for every $1 you spend in eligible net purchases (purchases minus credits and returns).
  • $250,000 in Travel Accident Insurance.

Business Credit Cards

BP Business Solutions MasterCard®

  • Accepted at over 175,000 locations nationwide with competitive rebates when purchasing fuel at thousands of BP locations nationwide
  • Save up to 6 cents per gallon on fuel purchases at BP locations

Chevron and Texaco Universal Business MasterCard®

  • Earn rebates up to 6 cents per gallon based on monthly fuel purchases at Chevron and Texaco locations
  • Accepted at over 175,000 fueling locations with maximum rebate earnings when your drivers choose Chevron and Texaco

CitiBusiness® / AAdvantage® Platinum Select® World Mastercard®

  • Designed for businesses
  • For a limited time, earn 60,000 American Airlines AAdvantage® bonus miles after making $3,000 in purchases within the first 3 months of account opening
  • First checked bag is free on domestic American Airlines itineraries for you and up to four companions traveling with you on the same reservation
  • Enjoy preferred boarding on American Airlines flights
  • Earn 2 AAdvantage® miles per $1 spent on eligible American Airlines purchases
  • Earn 2 AAdvantage® miles for every $1 spent on purchases at telecommunications, car rental merchants and at gas stations
  • Earn 1 AAdvantage® mile per $1 spent on other purchases

Starwood Preferred Guest® Business Credit Card from American Express

  • Earn 2 Starpoints® for each dollar of eligible purchases at participating SPG® Marriott Rewards® hotels. Earn 1 Starpoint® for all other purchases.
  • Redeem Starpoints® for free nights at over 1,300 hotels & resorts in over 100 countries and for free flights on over 150 airlines with SPG Flights. Some hotels and resorts have mandatory service charges.
  • Free, unlimited Boingo Wi-Fi at more than 1,000,000 Boingo hotspots worldwide. Enrollment required.
  • No Foreign Transaction Fees on international purchases and $0 introductory annual fee for the first year, then $95.

Capital One Spark Cash for Business Card

  • Earning unlimited 2% cash back could mean thousands of dollars each year going back into your business
  • Plus, a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
  • Use Spark Cash across all your business spend, with no categories to limit your purchasing
  • $0 intro annual fee for the first year; $59 after that
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • Get employee cards at no additional cost, and earn rewards from their business spend

1. What is a secured credit card?

A secured credit card works just like a regular credit card, cardholders can use the card anywhere the card is accepted. But you need to put down the deposit against the card’s credit limit used as collateral on the account which will be used when the cardholder default. Usually these cards are used by people with limited credit histories. In reasonable use, secured credit cards can help cardholders to build credit or repair credit.

2. What are the benefits of secured credit cards?

Apply and qualify easily

People with bad credit or no credit can get benefits from secured credit cards. Even people with very good credit but have trouble getting approved for regular credit cards can benefit from secured credit cards.

Build credit

If you can use your card responsibly, your credit score may increase. Therefore, you can have a better chance to get approved for a regular credit card after a few months.

Earn rewards

Although secured credit cards are not like traditional credit cards, they are still credit cards. Many secured credit cards offer rewards programs, so cardholders can earn rewards points by making purchases.

3. What do you need to apply for a secured credit card?

Check score

You can get approved with a bad or limited credit history. A few secured credit cards don’t require any credit check, if you can pay down the minimum required security deposit. There are also some traditional secured credit cards, the issuer will review your personal credit history when determining whether to approve your credit card and what terms you are eligible for. Responsible past use of credit will maximize your chances.

Application

You can apply for a secured credit card online, in banks or by email depending on the card. And you just need to fill in your personal information and submit your application. The credit card issuer will consider your credit reports and several different factors when reviewing your application to get an idea of your creditworthiness.

4. How to use a secured credit card?

Read your credit card terms and conditions.

You need to have an understanding of the terms of your credit card in order to use it better and avoid paying extra fees.

Pay your bill in full on time

Because secured credit cards don’t require you to have a very good credit score, they often have more fees than unsecured credit cards. In general, you have to pay an annual fee and an application fee. Some terrible secured credit cards charge cardholders high- interest rates, monthly account fees, and even credit limit increase fees which will be charged when you request to have your credit limit increased.

What’s more, any late payments will be reported to the credit bureau, which may you’re your credit score. If your payment is delayed for several months and your credit card is owed, your account will be closed and you will lose your deposit. Therefore, we recommend you to pay the bill in full on time in order to avoid extra fees.

Convert to unsecured credit card

Some secured credit cards will review your account after a period of time, and upgrade your credit card to unsecured card if you qualify. If your secured credit card issuer doesn’t upgrade your credit card to an unsecured credit card, you can apply for an unsecured credit card with other card issuers.

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Secured Credit Cards Tips

  1. If you want to know your Secured Credit Cards payment details, like your credit card balance. Please contact the Secured Credit Cards customer service or get a Secured Credit Cards application.
  2. In order to manage your Secured Credit Cards payment online, you need to log in to the Secured Credit Cards official website.
  3. About Secured Credit Cards login and how to apply for a Secured Credit Cards, you need to go to the official website.
  4. Getting a Secured Credit Cards application will be a lot of convenience, contact the Secured Credit Cards customer service or go to the Secured Credit Cards official website to know more details.
  5. Want to know some products discounts or rewards programs? Make sure your Secured Credit Cards phone numbers is correct, there will be text alerts.

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