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FEATURED CREDIT CARDS

Mission Lane Visa® Credit Card

Mission Lane Visa<sup>®</sup> Credit Card
  • No Annual Fee
  • Fair Credit
  • Enjoy coverage from Visa®.
    *See Card Terms

Indigo® Mastercard® - $1,000 Credit Limit

Indigo<sup>®</sup> Mastercard<sup>®</sup> - $1,000 Credit Limit
  • Get the credit limit you deserve—$1,000 guaranteed if approved
    Rates & Fees

Milestone® Mastercard®

Destiny Mastercard
  • $700 Credit Limit
  • No security deposit
  • Less than perfect credit is ok
    Rates & Fees

Secured Credit Cards for Bad Credit

Secured credit cards for bad credit are designed to help individuals with limited or damaged credit build or rebuild their credit history. They require you to provide an upfront, refundable cash deposit that serves as your credit limit. This collateral reduces the risk for the lender, making it easier for them to approve your application.
See Card Offers Below.

How secured credit cards work

  • Security deposit: The process begins with you providing a cash deposit, typically starting at $200, which is held by the card issuer.

  • Credit limit: Your credit limit is usually equal to the amount of your deposit. For example, a $300 deposit will give you a $300 credit limit. Some issuers may offer a credit line higher than your deposit.

  • Use and payments: You use the card just like a traditional credit card, making purchases up to your credit limit. You receive a monthly statement and are required to make on-time payments.

  • Credit reporting: The most crucial feature for rebuilding credit is that card issuers report your payment activity to the major credit bureaus (Equifax, Experian, and TransUnion). Consistent, on-time payments and keeping a low balance demonstrate responsible credit usage, which helps improve your credit score.

  • Refundable deposit: The deposit is not used to pay your monthly bill. Instead, it is returned to you when you close the account in good standing or, in many cases, when you upgrade to an unsecured card.


    • opensky® Launch Secured Visa® Credit Card

    • This product offers the lowest upfront cost ($100 security deposit) for a secured card with no credit check
    • Annual fee billed in monthly installments of $2 per month in year 1 and $3 per month thereafter
    • Minimum payment as low as $10
    • No credit check
    • Up to 10% cash back rewards on everyday purchases at over 40,000 merchants
    • Opportunities for credit line increases and graduation to our by invitation only unsecured product
    • CLICK HERE TO APPLY ONLINE

    *See Terms and Conditions

    • Intro
      Rate
    • N/A
    • Intro
      Period
    • N/A
    • Regular
      APR
    • 28.99% (variable)
    • Annual
      Fee
    • $24 during the first year, paid in installments of $2 per month. $36 after the first year, paid in installments of $3 per month.
    • Credit Recommended
    • No Credit, Poor, Fair

    opensky® Plus Secured Visa® Credit Card

    • No annual fee – keep more money in your pocket!
    • No credit check required – 89% approval rate with zero credit risk to apply!
    • Earn up to 10% cash back on everyday purchases
    • Boost your credit score fast—2 out of 3 opensky® cardholders see an average increase of 47 points after 6 months
    • Track your progress with free access to your FICO® score in our mobile app
    • Build your credit history with reporting to all three major credit bureaus: Experian, Equifax, and TransUnion
    • Seamless payments—add your card to Apple Pay, Google Pay, and Samsung Pay
    • Start with as little as $300 – Secure your line with a refundable security deposit
    • Fast and easy application—apply in minutes with our mobile-first experience
    • Flexible payment options—pick a due date that works for you
    • More time to fund—spread your security deposit over 60 days with layaway
    • Join 1.6 million+ cardholders who have used opensky® to build better credit!
    • CLICK HERE TO APPLY ONLINE

    *See Terms and Conditions

    • Intro
      Rate
    • N/A
    • Intro
      Period
    • N/A
    • Regular
      APR
    • 28.99% (variable)
    • Annual
      Fee
    • $0
    • Credit Recommended
    • No Credit, Poor, Fair

    opensky® Secured Visa® Credit Card

    • Earn up to 10% cash back on everyday purchases
    • No credit check required – 89% approval rate with zero credit risk to apply!
    • Boost your credit score fast—2 out of 3 opensky® cardholders see an average increase of 47 points after 6 months
    • Track your progress with free access to your FICO® score in our mobile app
    • Build your credit history with reporting to all three major credit bureaus: Experian, Equifax, and TransUnion
    • Seamless payments—add your card to Apple Pay, Google Pay, and Samsung Pay
    • Start with just $200—secure your credit line with a refundable deposit
    • Fast and easy application—apply in minutes with our mobile-first experience
    • Flexible payment options—pick a due date that works for you
    • More time to fund—spread your security deposit over 60 days with layaway
    • Join 1.6 million+ cardholders who have used opensky® to build better credit!
    • CLICK HERE TO APPLY ONLINE

    *See Terms and Conditions

    • Intro
      Rate
    • N/A
    • Intro
      Period
    • N/A
    • Regular
      APR
    • 24.64% (variable)
    • Annual
      Fee
    • $35
    • Credit Recommended
    • No Credit, Poor, Fair

    Merrick Bank Secured Credit Card

    • Choose your own credit line based on how much money you want to put down as a security deposit.
    • Initial deposits can be from $200 to $3,000. You can increase your credit line at any time by adding additional money to your security deposit, up to $3,000.
    • After 9 months, we review your account for a credit line increase. No additional deposit required!
    • Secured Credit Cards are great for people looking to build or rebuild credit and are available to people with all kinds of credit backgrounds.
    • Unlike a debit card or a pre-paid card, it helps build your credit history. We report your payment history to all three major credit-reporting agencies.
    • Get your FICO® Credit Score for free each month.
    • Fraud coverage if your card is lost or stolen. Access your account 24 hours a day, 7 days a week. Get help staying on track with available Auto Pay and account alerts.
    • Card issued by Merrick Bank, Member FDIC.
    • CLICK HERE TO APPLY ONLINE

    *See Terms and Conditions

    • Intro
      Rate
    • N/A
    • Intro
      Period
    • N/A
    • Regular
      APR
    • 22.70% Variable
    • Annual
      Fee
    • $0
    • Credit Recommended
    • See website for Details*

    The Secured Self Visa® Credit Card

    • Start building credit with all three credit bureaus with the secured Self Visa® Credit Card.
    • Apply Now: Intro No Annual Fee with the secured Self Visa® Credit Card^
    • No credit check
    • No hard inquiry
    • $100 minimum security deposit*
      *Qualification for the secured Self Visa® Credit Card is based on meeting eligibility requirements, including income and expense requirements and establishment of security interest. Criteria Subject to change.
      The secured Self Visa® Credit Card is issued by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC.
      ^$0 annual fee for the first year only, $25 annual fee thereafter. Variable APR of 27.99%. Offer valid for new customers only.
    • CLICK HERE TO APPLY ONLINE

    • Intro
      Rate
    • N/A
    • Intro
      Period
    • N/A
    • Regular
      APR
    • 24.99% Variable
    • Annual
      Fee
    • $60* (*discounted in Year 1 for starting credit lines under $300)
    • Credit Recommended
    • All Credit Types Accepted

    GO2bank™

    • Overdraft protection up to $200 with opt-in and eligible direct deposit*
    • No monthly fees with eligible direct deposit, otherwise $5 per month
    • Earn up to 7% cash back when you buy eGift Cards in the app
    • Get your pay up to 2 days early - Get your government benefits up to 4 days early.*
    • High-yield savings account, 4.50% APY paid quarterly on savings up to $5,000.*
    • CLICK HERE TO APPLY ONLINE

    *Terms and conditions apply. GO2bank™ cards are issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. Overdraft fees may apply. Click Apply Now to learn more.

    • Activation
      Fee
    • $0
    • Monthly
      Fee
    • No monthly fees with eligible direct deposit, otherwise $5 per month
    • Direct
      Deposit Fee
    • $0
    • ATM
      Fee
    • $0 In-network withdrawal & balance inquiry, $3 Out-of-network withdrawal, $0.50 Out-of-network balance inquiry.
    • Credit Recommended
    • All Credit Types Considered


    Advantages and disadvantages of Secured Credit Cards

    Pros

  • Easier approval: Because the card is secured by your deposit, lenders face less risk, making these cards easier to get if you have bad or no credit history.

  • Builds credit: With responsible use, a secured card is one of the most effective tools for building a positive credit history.

  • Path to unsecured cards: Many card issuers, like Discover and Capital One, automatically review your account for potential graduation to an unsecured card after a period of on-time payments.

  • May offer rewards: While less common than on unsecured cards, some secured cards offer rewards like cash back.

    • Cons

  • Requires a deposit: Not everyone can afford to set aside the cash deposit, which can be as high as $5,000, depending on the card and desired credit limit.

  • Lower credit limits: Your credit limit is tied to your deposit, which is often low. This can make it easy to have a high credit utilization ratio, which can harm your credit score.

  • Higher costs: Secured cards, especially from banks, can have higher interest rates than those from credit unions. Some may also charge an annual fee, though many popular options do not.

    • Is a secured credit card right for you?

    A secured credit card is a strategic tool for those looking to build or repair their credit. It offers a low-risk way to demonstrate financial responsibility. After successfully managing a secured card for a period, you can often transition to an unsecured card with better benefits and higher limits.





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    FICO Credit Scores

    A credit score is a number generally between 300-850, based on a statistical analysis of a person's credit files. This score represents the credit worthiness of a person. A credit score is assigned to each individual, to rate how risky a borrower he or she is--the higher the score, the less risk the individual poses to creditors. In most cases, your credit score will determine whether you will be approved for a credit card.

    What is a Credit Score?

    A credit score is a number generally between 300-850, based on a statistical analysis of a person's credit files. This score represents the credit worthiness of a person. A credit score is assigned to each individual, to rate how risky a borrower he or she is--the higher the score, the less risk the individual poses to creditors. In most cases, your credit score will determine whether you will be approved for a credit card.

    Credit Score Facts

    1. Credit Scores range from 300-850, the higher the better.
    2. Most lenders base approval on your credit score.
    3. Higher Scores mean lower payments and better deals.
    4. Higher Scores mean Lower interest rates.
    5. Scores are determined by 5 main categories:
      • Payment History
      • Amounts Owed
      • Length of Credit History
      • Type of Credit Used
      • New Credit

    Note: Credit scores are used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any credit card product.


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    *See the online credit card applications for details about terms and conditions of credit card offers. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the " Apply Now " button you can review the credit card terms and conditions on the credit card issuer's web site.

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    • Advertiser Disclosure:

    The card offers that appear on this site are from companies from which Gettingacreditcard.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Gettingacreditcard.com does not include all card companies or all card offers available in the marketplace.

    About Our Offers:

    The card offers that appear on this site are from companies from which Gettingacreditcard.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Gettingacreditcard.com does not include all card companies or all card offers available in the marketplace.