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Top Three Secured Credit Cards of 2018

Top Three Secured Credit Cards

Editorial Disclosure: Editorial content, including card comparisons and card reviews are not provided or commissioned by the credit card issuer. Opinions expressed here are the author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. may be compensated through Affiliate Programs for referrals.

• Posted: January 01, 2018 • Updated: June 18, 2018

If your applications for credit cards are routinely denied because of a low or non-existent credit score, try applying for a secured credit card. These cards require you to make a deposit with the card issuer or to set aside a security deposit in an account at the issuing bank/credit union. The deposit serves as collateral for the card issuer, thereby ensuring that you meet your minimum payment obligations each month. Your credit line equals the amount you must keep on deposit.

Important Features

Naturally, you will prefer secured credit cards that charge a lower APR, low or no annual fees and no application fee. Also, look for these features:

  • Reported Activity. Verify that the issuer will update your credit record with the three major credit bureaus every month. After all, part of the reason for getting a secured credit card is to rebuild your credit score, so you want your timely payments to be reflected in your credit report.
  • Access to Unsecured Card. Some issuers may allow you to apply for an unsecured card after 6 to 12 months of spotless payments. Other issuers don’t offer this feature, or make you wait two years or longer. You’d like to move to an unsecured card as soon as possible so that you can free up your security deposit for other uses.
  • Other Requirements. Check what other requirements the issuer might impose, such as furnishing two years of tax returns or copies of your pay stubs. You might have to show the issuer how you plan to pay your monthly credit card charges.

Here are our top picks for secured credit cards: 
*All three report your credit card activity monthly to the three credit bureaus.


1. Capital One® Secured MasterCard® 1. Capital One® Secured MasterCard®
Key Benefits: Low required security deposits and no annual fees. With good payment history, you can apply for a credit line increase without additional deposits. Monitor your credit with the FREE Capital One® Credit Tracker app.

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Capital One® Secured Mastercard®

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    • No annual fee, and all the credit building benefits with responsible card use
    • Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
    • You will get an initial $200 credit line after making a security deposit of $49, $99, or $200, determined based on your creditworthiness
    • Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed
    • Easily manage your account 24/7 with online access, by phone or using our mobile app
    • It's a credit card accepted at millions of locations worldwide
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2. OpenSky® Secured Visa® 2. OpenSky® Secured Visa®
Key Benefits: No credit check necessary. The card features competitive APRs, a low annual fee and free application. You don't need a checking account to make the security deposit. Quick online application.
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OpenSky® Secured Visa® Credit Card

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    • No credit check necessary to apply. OpenSky believes in giving an opportunity to everyone.
    • The refundable* deposit you provide becomes your credit line limit on your Visa card. Choose it yourself, from as low as $200.
    • Build credit quickly. OpenSky reports to all 3 major credit bureaus.
    • 99% of our customers who started without a credit score earned a credit score record with the credit bureaus in as little as 6 months.
    • We have a Facebook community of people just like you; there is a forum for shared experiences, and insights from others on our Facebook Fan page. (Search "OpenSky Card" in Facebook.)
    • OpenSky provides credit tips and a dedicated credit education page on our website to support you along the way.
    • *View our Cardholder Agreement located at the bottom of the application page for details of the card.
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3. First Progress Platinum Elite MasterCard® 3. First Progress Platinum Elite MasterCard®
Key Benefit: Expedited receipt of your new card, which features a low annual fee and competitive APR. Deposits are fully refundable. Higher maximum secured credit lines available.
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First Progress Platinum Elite MasterCard® Secured Credit Card

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    • Fund your new MasterCard® secured credit card with your tax refund today!
    • Receive Your Card More Quickly with New Expedited Processing Option
    • No Credit History or Minimum Credit Score Required for Approval
    • Good for Car Rental, Hotels; Anywhere Credit Cards are Accepted!
    • Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
    • Credit Line Secured by Your Fully-Refundable Deposit of $200 - $2,000 Submitted with Application
    • Just Pay Off Your Balance and Receive Your Deposit Back at Any Time
    • 24/7 Online Access to Your Account


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Click Here to view all secured credit cards >>

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