Best Secured Credit Cards


These two credit cards have made our best secured credit card list, as they are modestly priced cards that allow you to relatively quickly graduate on unsecured credit cards if you are responsible for credit behavior.

These security cards are not trying to fool you

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As with any credit card, it is crucial that you always pay at least the minimum payment – hopefully much more – on time.

  • 01 Federal Credit Union nRevards Secured Card

    01 Federal Credit Union nRevards Secured Card

    The Navy Navy Secure Card is by far one of the best secured credit cards on the market, but there is one catch: To qualify, you must be a member of the military or affiliated with someone who is eligible to join a credit union.

    In addition to the low annual percentage rate (APR), which starts at 9.24 percent, there is no annual fee and no balance transfer fee. The card also has an attractive rewards program. Earn a point-per-dollar shopping spree that works out at 0.5 percent to a full 1 percent depending on spending levels. Prizes can be picked up for gift cards and certificates. You can start redeeming at 1,000 points.

    How to nRewards Secured Card Works:

    • Make a Deposit and Report: Make a deposit of at least $ 500 in a Navy qualified savings account before submitting your application; this deposit will be held for the duration of your n Rewards Secured account.
    • Spending Management: Once approved, you will be issued a credit card equivalent to your deposit. Your card looks like a normal credit card. Use it like any other and make sure you pay your monthly bill on or before the due date.
    • Earn Rewards, Build Credit: Every purchase you make is eligible for points rewards, and every purchase you make helps you build your credit. All account activity is reported to major credit bureaus.
    • Let your deposit cover: When you close n secured Rewards account, your initial deposit will be refunded, provided the account is in good standing and the full amount has been paid. If you are in debt, the deposit will be used to cover those debts.
  • 02 Wheels Secured Card

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    This protected card from Wheels is one of the better values ​​in the secure card arena. The $ 18 annual fee is relatively modest, and 16.49 percent APR is not bad either. Another positive: Wells says you might be able to qualify for this ticket if you have been bankrupt for at least a year. That’s a lot less time than other credits will consider.

    The Wheels Secured Card requires a minimum security deposit of $ 300.

    Wells also notes that he periodically reviews the account, and if you exhibit good credit behavior, you can graduate to an unsecured card and get your safe deposit back.

    Wheels has one of the better reputations among the big banks, so if you do well with this card, you will be on your way to improving your credit and getting cheaper loans in the future.

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