Best Secured Credit Cards : Get Guaranteed Credit Card Approval In 2023

When it comes to the best credit cards, if you have decent credit, they are wonderful. However, if you have no credit or if your credit is less than fantastic, you may be unable to apply. But don’t panic; with a secured credit card, you may swiftly establish or rebuild your credit.

You must put money down as collateral when applying for a secured credit card. Secured credit cards operate in the same way as any other credit card. Secured credit cards, on the other hand, often have a smaller credit limit and higher fees because the bank holds them.

A secured credit card is nearly identical in terms of credit limit, interest fees, and potential benefits. To establish a line of credit, you must first pay a deposit, and the amount you deposit is frequently used to set your credit limit.

When you responsible use a secured card responsibly, your information is sent to the main credit agencies, which helps raise your credit score and puts you on track to qualify for an unsecured card.

So, continue reading to discover our full list of editorial picks of the best secured credit cards, which we developed after conducting significant research.

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5 Best Secured No-Credit-Check-Cards for Bad Credit:

  1. Genesis FS Card: Best Overall Secured Credit Card Issuer Company
  2. CONSOLIDATED CREDIT: Best for No Credit Check
  3. PenFed: Best for Cash Rewards Credit Card
  4. UKLG_Caxton: Best for Navy Federal Members
  5. Ally Credit Card: Best for High Potential Credit Limit

#1. Genesis FS Card: Best Overall Secured Credit Card Issuer Company

Brand Overview

A secured credit card is nearly identical in terms of credit limit, interest fees, and potential benefits. To establish a line of credit, you must first pay a deposit, and the amount you deposit is frequently used to set your credit limit.

When you use a secured card responsibly, your information is sent to the main credit agencies, which helps raise your credit score and puts you on track to qualify for an unsecured card.

So, continue reading to discover our list of the top five best secured credit cards, which we developed after conducting significant research.

Transactions done outside of the United States are subject to a 3% fee. The cost for a cash advance is 3% of the entire transaction amount, or $10. If you miss a payment, you might risk a fee of up to $40.

Despite the absence of unique benefits or incentives, this secured credit card is a decent option for chime credit builder visa due to its low APR and lack of fees. Residents of Arkansas, Iowa, and New York, on the other hand, are not eligible.



The Genesis FS Card credit card boasts one of the lowest APRs on the market when compared to many other secured credit cards. However, when contrasted to the $2,000 cap, the $49 yearly charge may not be as beneficial.

No Credit History Required

Like all other Genesis FS Card cards, the first progress Platinum prestige Mastercard does not require a credit history or score. When you open the card, you must put a deposit to cover any missed payments.


  • Low-interest rate
  • Suitable for people with bad or no credit
  • Reports to the three major credit bureaus
  • Includes purchase protection, roadside and travel assistance, and other benefits
  • Credit limit increases will happen over time


  • No option for balance transfers

Customer Experience

Although the Genesis FS Card Credit Card includes an annual charge, many customers are willing to pay it for two reasons. First and foremost, there is no credit check. Second, if you do not have a regular banking account, you can finance your deposit or pay your bill using a money order or Western Union payment. The Genesis FS Card Mastercard Secured Credit Card’s low APR makes it an appealing option, but other cards may offer the same thing for less money.

⇒ Click Here to Visit the Official Website of Genesis FS Card

#2. CONSOLIDATED CREDIT: Best for No Credit Check

Brand Overview

The CONSOLIDATED CREDIT Secured Visa Credit Card is an excellent alternative for people with terrible credit, and it boasts that 99% of its customers with no credit acquired a credit score after six months. However, it is not the most competitive option. If you wish to develop credit with a credit card but have no or little credit history, you should start with these secured credit cards.

Its low annual percentage rate (APR) of 17.39% distinguishes it from other cards that provide automatic credit line increases, cashback, and other benefits. The CREDIT CONSOLIDATED There is no sign-up incentive with a secured credit card. Instead of delivering additional rewards, this secured card aids in the development of your credit. If you have enough credit to qualify for a new card and earn a sign-up bonus, you may always convert to a rewards credit card.


No Credit Check Required

When you open an account with CONSOLIDATED CREDIT, the company does not run a credit check. As a result, you will be required to pay a security deposit of $200 to $3,000. Once you’ve paid off everything, you may terminate the account and get your money back. A hefty credit pull is not necessary because your down payment lowers the lender’s risk.

Traditional Visa Perks

There is no fraud liability and 24-hour help if your card is lost or stolen and you require a replacement with the dcu Visa network’s base-level cards, which are all credit Visa-branded. If you’re worried about identity theft, the ID Navigator tools you’ll get can search the dark web for your personal information and notify you to any questionable activity.


  • Lower APR
  • Available credit limit of up to $3,000
  • No credit check required


  • All overseas transactions are subject to a 3% fee, which is higher than other companies

Customer Experience

According to the website of the CONSOLIDATED CREDIT credit card, using their secured credit card will help you enhance your credit score in six months. Numerous internet reviews, however, have indicated that they strongly disagree with this assertion. After months of using the card, some customers reported a minor improvement in their credit score, while others reported considerable gains in just a few months.

Furthermore, it appears that customer assistance may be difficult to reach. Contacting CONSOLIDATED CREDIT’s customer service is difficult since the company does not train its employees to be more helpful and courteous to customers.

⇒ Click Here to Visit the Official Website of CONSOLIDATED CREDIT

#3. PenFed: Best for Cash Rewards Credit Card

Brand Overview

PenFed Secured Credit Card is an excellent choice for consumers who often spend money on petrol and dining out because they may get 2% cashback on both. Even if you aren’t a frequent driver or diner, the 1% cashback on all other small purchases can rapidly build up, especially in your first year with the card, when these points are matched after the first year of account activation.

PenFed secured credit cards may be a suitable option for those who have a lot of debt on other high-interest credit cards. Amount transfers are eligible for a six-month introductory APR of 10.99%, which is likely to be lower than your existing credit card interest rate.

If you do not pay your credit card bill on time, you will earn a little but nice incentive. The $40 late payment fee is waived on the first late payment, but the interest charges that accrue if the amount is not paid in full by the due date remain.


Reviewed to Convert Into Unsecured Card

You may quickly migrate to an unsecured credit card with the PenFed secured card. Certain secured cards need you to acquire a card review in order to transfer funds from the protected card. However, after eight months of cardholdership, PenFed will automatically review your account to see whether you are eligible for an unsecured card.

If this occurs, the firm will reimburse your security deposit if you complete the proper procedures to get an unsecured card, and you will have access to all of its features in the future with no extra applications or account closures necessary.

Cashback Bonus

PenFed offers rewards to new Discover Secured Credit Card clients. You’ll get twice the benefits you earned in your first year as a Discover cardholder. Cashback rates are already quite high, therefore a protected card provides a huge advantage.


  • Substantial perks
  • New cardholders are given a significant bonus
  • Convert secured credit card to an unsecured one automatically


  • Interest rates are higher
  • Maximum credit limit is relatively low

Customer Experience

The PenFed card is reviewed monthly to determine whether you may receive your investment back, allowing you to earn rewards while developing credit. As a consequence, this card is clearer than many of its competitors. If you have low credit or are new to borrowing money from banks, you may start building your credit history right card now with the PenFed Secured Credit Card.

⇒ Click Here to Visit the Official Website of PenFed

#4. UKLG_Caxton: Best for Navy Federal Members

Brand Overview

For military-affiliated consumers, the UKLG_Caxton Secured Credit Card is a fantastic choice. Military personnel, Delayed Entry Programme employees, DoD employees, and contractors deployed to DoD installations, as well as their families, are eligible to join.

You will not be charged an annual fee, balance transfer fee, foreign transaction fee, or cash advance cost if you qualify for this secured credit card. You will also earn one reward point for every dollar spent as an extra bonus.

You must submit a $200 security deposit if you decide to apply. After three months, Navy Federal Credit Union offers to check to see whether you may convert to unsecured cards, and every month after six months. This card’s benefits include rental car and cell phone coverage.


Less Initial Deposit Requirement and Refund

The Navy Federal Credit Union nRewards Secured Credit Card needs a $200 security deposit, and Navy Federal Credit Union determines that your creditworthiness and income are sufficient to sustain the credit limit requested. In this case, your deposit will always be equivalent to your credit line.

After six billing cycles, the credit union determines that you have utilised credit responsibly and paid your payments on time. In such instance, you will be upgraded to a Navy Federal Credit Union Cash Rewards Credit Card that is not secured. Once the upgrade is done, your security deposit will be refunded to you.

Ability to Earn Rewards

Navy Federal Credit Union cards offer benefits to customers with less-than-perfect credit, which is uncommon for such cards. Each net eligible purchase gives you one point, and the amount of gifts you may win is unlimited cash. Your points may be redeemed for money, items, or gift cards for a cent apiece.


  • Qualify with bad credit
  • No annual fee or hidden fees
  • Reports to the three major credit bureaus
  • Transferring a balance is free of charge
  • No fees for conducting international transactions


  • Strict rules and regulations to qualify for the credit card

Customer Experience

The Navy Federal secured credit card is a great secured credit card that has low fees, a generous rewards programme, and favourable interest rates. Assume you can get your hands on it. So, until Navy Federal Credit Union relaxes its eligibility rules, enabling more individuals to create accounts, most Americans will not utilise this card.

⇒ Click Here to Visit the Official Website of UKLG_Caxton

#5. Ally Credit Card: Best for High Potential Credit Limit

Brand Overview

Ally Credit Card credit cardholders can select a 3% reward category and update it monthly. Cardholders who spend up to $2,500 at grocery shops and wholesale clubs each quarter will get bonus points and 2% cashback.

On each transaction, you would receive 1% cashback. You may earn 25-75% extra cashback on every transaction if you have Preferred Rewards. Cardholders receive a $200 online cash rewards bonus after spending $1,000 in the first 90 days after starting their account.

Purchases and debt transfers made within the first 60 days are eligible for a 0% introductory regular APR for 15 billing cycles. The Ally Credit Card credit card will help you save money on interest rates if you need to pay down a higher interest rates credit card bill. The percentage of rewards won in the 3% and 2% reward categories is limited. Balance transfers are subject to a 3% fee, with a $10 minimum.


Generous Cashback Rewards

When you use this card for gas, online shopping, restaurants, travel, pharmacy shops or home improvement/furnishings, you may receive 3% cashback on your chosen bonus category. It is totally your choice whether to change the category, but you must do so for at least one month. The card offers 2% cashback in supermarkets and wholesale clubs, as well as 1% cashback on all other transactions.

Introductory 0% APR Offer

This card is ideal for transferring debt from another card or making large purchases without accruing interest. New purchases and balance transfers made during the first 60 days after account establishment qualify for a 0% introductory rate for the first 15 billing cycles; however, there is a balance transfer charge of 3% of the transferred amount, or $10. Following the promotional period, the APR will range from 13.99% to 23.99%.

Multiple Rewards Redemptions Options

All cash back incentives are available through statement credit, direct transfers into a Bank of America bank or savings account, credit to an eligible Cash Management Account or qualified Merrill 529, and checks mailed directly to you.

For statement credit, Merrill Cash easy account Management credits, or electronic deposits into a Bank of America checking or savings account, there is no minimum rewards redemption requirement. All other options have a $25 minimum.


  • Easy-to-use reward scheme
  • Unsecured credit card available
  • Preferred Rewards members can earn even more rewards


  • Fee for overseas transactions

Customer Experience

If you pick your bonus categories for your rewards credit card, the Ally Credit Card may be a good choice. With this card, you may choose a different bonus category each month to maximise your earnings.

⇒ Click Here to Visit the Official Website of Bank of America

Facts to Consider When Picking the Best Secured Credit Cards

Ability to Upgrade

In some circumstances, you can upgrade from a secured card programme to an unsecured card. However, cardholder upgrading procedures vary greatly amongst issuers. Furthermore, not all issuers welcome offer a way to graduate. As your credit improves, you may be able to receive an unsecured credit card from a new lender.

Credit Limit

Credit utilization climits (or credit lines) on secured credit cards are often smaller. If you have a good credit history and a large deposit, you may be able to get a larger credit line. Only a few credit card companies will provide you with a credit line ranging from 125% to 150% of the amount you deposit.

Within 6 to 12 months, the greatest credit-building credit card companies will examine your account. After making all of your payments on time, you can seek an increase in your credit limit or transfer to an unsecured credit card.

Annual Fee

People with bad credit find it difficult to avoid credit card fees, and some of the finest secured credit cards impose annual fees of up to $90. This does not, however, apply to all cards. Many people find it difficult to justify having a credit card since they must pay an annual fee regardless of whether or not they use the card. However, if a secured card follows a model that incorporates multiple credit-building features and other rewards, the premium may be worth it. You can get credit-building items like a credit-building account that requires you to return a small installment payment in ovisarder to qualify for future credit and personal loans.

When you create a secured credit card account, the yearly membership fee is normally taken from your balance. However, you should keep in mind that credit cards allow you to spread out the price over time.

Initial Deposit

Before you can acquire a credit card, you must first pay a cash security deposit. The actual charge will be determined on your credit history, however you should budget between $200 and $2,500. The upfront deposit  is equal to the greater credit limit on most debit cards. You must terminate the account or upgrade to an unencumbered credit card to obtain your money returned. Select a low deposit amount that you can live without for at least a year.


If you want to bypass a rigorous credit assessment, you may pre-qualify for several secured credit card issuers. However, federal law compels issuers to verify your identity. As a precaution, while applying for a secured credit card, expect a rigorous investigation. In the great scheme of things, it makes no difference how many points you lose.


When applying for a secured credit card, be certain that the firm reports your activities to all three main credit agencies, since this will boost your credit score.

FAQs: Secured Credit Cards

How Are Secured Credit Credit Cards Different from Prepaid Debit Cards?

Your debit card is loaded with the same amount of money as your bank account. It is vital to know that a secured debit card differs from a typical credit card in that you are not required to pay off the whole amount at the time of the transaction. If you have $500 on a prepaid debit card and spend $250, you still have $250 on the card. There is no money on the card unless you add additional cash.

Prepaid and debit cards do not help you restore your credit, however secured credit cards can. Maintaining debt control and paying your obligations on time and in full sends a positive message to credit reporting bureaus.

How Do You Use a Secured Credit Card?

Get a secured credit card if you wish to improve your credit rating. In light of this, you should ensure that you are prepared to handle the card appropriately. Your initial step into utilising a secured credit card should be for little transactions. Pay your secured credit card account in full each month to keep your credit utilisation as low as feasible. To improve your credit score, use your credit card on a regular basis and pay it off on time each month. If your card issuer provides autopay, consider charging a small recurring fee to your card and establishing autopay on your card.

You should also keep an eye on your credit rating throughout this time. You will be able to view your credit score each month if you use a secured credit card. As you pay your credit card payments on time, your credit score will eventually improve.

How Do Secured Credit Cards Work?

When it comes to secured credit cards, it is the same as any other credit card. A credit card differs from a debit card in that you must place a refundable deposit into your account in order to get one.

You may have a lesser credit line on your account depending on the quantity of your security deposit. If you do not pay your credit card bill, the credit card company may keep some or all of your deposit to pay off the debt. However, if you terminate your account after paying all of your expenditures, the whole money will be returned.

Can I Only Get a Secured Card if I Am from the U.S.?

Historically, most newcomers to the United States had to start again in order to build a credit history. If you are from Mexico, India, or Canada and have a track record of on-time payments at home, you may now use Nova Credit to translate your overseas credit history into an equal report for US lenders through our partner firms.

The opportunity to share your global credit history with corporations such as American Express via a collaboration with Nova Credit is becoming more widespread. You must use credit you have previously earned in other countries to begin developing your local credit ratings in the United States. We’ve compiled a list of unsecured credit cards that we suggest to immigrants to the US.

What Role Do Secured Cards Play in Credit Score Building?

A secured credit card is one that requires a security deposit. Your credit card issuer will record your great behaviour to the credit agencies that calculate your score as long as you pay on time and do not exceed your credit limit. If you’re thinking about getting a secured line of credit, be sure it reports to the three main credit agencies.

How Fast Can You Rebuild a Credit Line with a Secured Card?

This is determined by how low your credit score is at the time. It might take up to a year to notice any improvement after adding a recent bankruptcy, foreclosure, or other substantial negative item to your credit report. After a few months of late payments, there is a strong probability that your credit will improve.

Every incorrect item that exists on your fair anncredit report for a set period of time must be deleted. To protect your credit score from deteriorating, you must replace old and detrimental items with newer and more favourable ones.

What Is the Minimum Credit Score Needed to Get the Best Secured Credit Cards?

A security deposit is sufficient to compensate for any lack of credit history or past credit missteps. Secured credit cards may not be offered to persons who have just been discharged from bankruptcy, have unreliable income, or do not have enough money to make the security deposit. If you just went through a foreclosure or have outstanding obligations, you may be unable to obtain a loan.

If you are rejected, you can contact the card’s issuer and explain your circumstances to a representative. The bank may be more inclined to consider your credit request if they have some background information to work with, but this is not a guarantee.

What Is the Difference Between Unsecured and Secured Credit Cards?

Unsecured credit loans are loans based on the borrower’s credit history, character, and repayment capabilities. Even if a borrower legally owns the money, lending it requires some faith. To acquire secured credit, the borrower must put up some type of collateral to guarantee the loan. If you default on a secured loan, the lender has the right to keep the collateral.

Final Thoughts – Where to Get the best Credit Cards?

We looked at over 300 secured credit cards to discover the best option for our customers. We assign a star rating to each piece of information we gather based on how it compares to similar features on other cards.

They were then weighted depending on the importance of these characteristics in different card types. The top secured credit cards listed above are based on APR and minimum deposit requirements. Credit card issuer data is examined on a regular basis, and our ratings and rankings are updated. After conducting extensive research, we determined that the Genesis FS Card Secured Credit Card was the finest secured credit card available.

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