Best Secured Credit Cards Of April 2024

Consumers with bad credit or no credit sometimes find themselves unable to receive credit approval of any kind. This is why issuers created secured credit cards; they provide a path for nearly anyone to receive an approval and start building a credit profile. With a secured credit card, consumers are required to put down a cash deposit normally equal to the card’s credit limit into a bank account (known in these cases as a collateral account). With responsible behavior, many cardholders can upgrade their secured card to a non-secured counterpart and see the deposit returned. Similarly, when a secured account is closed and in good standing, the deposit will be returned.

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Our editors are committed to bringing you unbiased ratings and information. Our editorial content is not influenced by advertisers. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial guidelines and the credit card methodology for the ratings below.

  • 20 secured cards rated
  • 2700 data points considered
  • 5 levels of fact-checking
  • 53 years of industry experience

from Forbes Advisor

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