Why a Secured Credit Card Is the Best Starting Point
For anyone with no credit history or a damaged credit score, a secured credit card is the most reliable tool available. You provide a deposit—typically $200 to $500—which acts as your credit limit and collateral. The issuer reports your payments to Equifax, Experian, and TransUnion, building your credit file just like any regular card.
The key features to look for in a secured card are: no or low annual fee, reporting to all three bureaus, a clear upgrade path to unsecured, and ideally some rewards.
Top Secured Credit Cards Compared
| Card | Annual Fee | Min Deposit | Rewards | Best For |
|---|---|---|---|---|
| Discover it Secured | $0 | $200 | 2% at gas/restaurants, 1% other | Best overall |
| Capital One Platinum Secured | $0 | $49–$200 | None | Low deposit requirement |
| OpenSky Secured Visa | $35 | $200 | None | No credit check required |
| Citi Secured Mastercard | $0 | $200 | None | Citi banking customers |
| Bank of America Customized Cash Secured | $0 | $200 | 3% in chosen category, 2% grocery | Rewards maximizers |
Discover it Secured: Best Overall Pick
The Discover it Secured Credit Card stands out as the best secured card for most people. Here's why:
- No annual fee — You keep 100% of the benefit of your deposit
- 2% cash back at gas stations and restaurants (up to $1,000 in combined purchases per quarter), 1% on everything else
- Cashback Match — Discover doubles all cash back earned in your first year automatically
- Automatic reviews starting at 7 months to see if you can upgrade to an unsecured card
- Reports to all three major credit bureaus
Minimum deposit is $200, and you can deposit up to $2,500 for a higher limit. This is rare for a secured card and helps with utilization management.
Capital One Platinum Secured: Best for Low Deposits
The Capital One Platinum Secured is notable because qualifying applicants may only need a $49 deposit to get a $200 credit limit. Most secured cards require a $200 deposit minimum. Capital One also automatically considers you for a higher credit line with no additional deposit after 6 months of on-time payments.
- No annual fee
- Low minimum deposit options ($49, $99, or $200 depending on creditworthiness)
- Access to CreditWise credit monitoring for free
- No foreign transaction fees (rare for a secured card)
OpenSky Secured Visa: Best With No Credit Check
The OpenSky Secured Visa requires no credit check at all—making it accessible even if you've been rejected elsewhere. It has a $35 annual fee, but for someone who can't get approved anywhere else, it's worth it. OpenSky reports to all three bureaus and offers deposit amounts from $200 to $3,000.
Tips for Maximizing Your Secured Card
- Use it for one recurring charge — A streaming subscription or phone bill on autopay keeps utilization low and builds payment history automatically.
- Pay in full every month — There's no benefit to carrying a balance. Interest charges at 22–28% APR cost you money while offering no credit benefit.
- Keep utilization under 10% — On a $200 limit, that means keeping your statement balance at $20 or less when possible.
- Don't close it too soon — Keep the card active for at least 12–24 months to build account age.
- Ask for an upgrade — After 6–12 months of good behavior, call your issuer and ask about upgrading to an unsecured card and having your deposit returned.
Frequently Asked Questions
What is the easiest secured credit card to get approved for?
The OpenSky Secured Visa requires no credit check and is the easiest to get approved for. The Capital One Platinum Secured and Discover it Secured are also known for lenient approval requirements.
How much should I deposit on a secured credit card?
Deposit the minimum required ($200 for most cards) to start. A higher deposit gives you a higher limit, which helps keep utilization low if you need to use the card more frequently.
When does a secured card convert to unsecured?
Most issuers review your account for an upgrade after 6–12 months of on-time payments. Discover reviews automatically at 7 months; Capital One reviews at 6 months. You can also call and request a review.