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Compare Secured Credit Cards for Rebuilding Credit

Compare deposits, fees, payment arrangements and rewards before committing money to a secured card.

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Quick Answer

A secured credit card uses money you provide as collateral. With many cards, the deposit equals the credit limit; some offer a larger limit than the required deposit. Approval is still a separate decision. A deposit does not replace your monthly payment on a conventional secured card. Chime Card uses a different arrangement that lets secured funds pay the balance.

Start with the money you can spare after essentials, then compare fees, credit reporting and repayment requirements. On-time payments can help establish credit history, but no card guarantees a score increase or an upgrade. You do not need to carry interest-bearing debt to build credit. The five options below illustrate different arrangements; they are not a ranking of every available card. Terms were checked September 8, 2026. Read the issuer's current offer before applying.

Compare Your Options

Discover it Secured Cash Back Credit Card

Secured Credit Card

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Fee: $0 annual feeDeposit: $49, $99, or $200, based on creditworthiness

Consider for a lower deposit and rotating-category rewards

  • -An approved deposit can support an initial credit line of at least $200
  • -5% cash back in quarterly categories, with activation and a quarterly cap; 1% otherwise
  • -First-year Cashback Match for eligible new cardholders
  • -Reports to Equifax, Experian and TransUnion

Check the required deposit in your approval and the current category cap before comparing rewards. Discover offers a route to deposit return and an unsecured card, but its current page does not promise an upgrade at a specific month. Check the purchase APR in your actual offer; a historical card agreement is not today's rate quote.

Capital One Platinum Secured Credit Card

Secured Credit Card

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Fee: $0 annual feeDeposit: $49, $99, or $200, as assigned after approval

Consider when a smaller upfront deposit is the priority

  • -Initial credit line of at least $200 after the required deposit
  • -Additional initial deposits can raise the limit to $1,000
  • -Possible credit-line review in as little as six months
  • -Reports to all three major bureaus; no foreign transaction fee

The posted purchase APR is 28.99% variable as of this review. Fund the required deposit within 35 days of approval using a bank-account transfer; additional initial deposits must arrive before activation. Capital One can decline an application, including for income or debt reasons. A later credit-line increase without an extra deposit and conversion to an unsecured card are different decisions; neither is guaranteed.

Chime Card (successor to Credit Builder)

Secured Chime Visa Credit Card

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Fee: $0 annual fee; no interestDeposit: No minimum; fund the secured account to spend

Consider when you want payments backed by money already set aside

  • -Requires a Chime Checking Account; no credit check to apply
  • -Reports to all three bureaus; utilization is not reported
  • -Optional Safer Credit Building pays charges from secured funds
  • -Chime Prime: 5%; Chime Plus: 2% on a selected category, up to $1,500 in eligible purchases each month

Direct deposit is not a basic card requirement. For rewards, Prime requires $3,000+ in qualifying deposits over the preceding 34 days; Plus requires one $200+ deposit or $400+ total over that period. Select a category each month; earlier purchases and legacy Credit Builder cards do not qualify. Monitor payments; ATM or over-the-counter advance fees may apply.

Bank of America Customized Cash Rewards Secured

Secured Credit Card

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Fee: $0 annual feeDeposit: $200; permitted deposits up to $5,000

Consider for a chosen rewards category, after checking the shared cap

  • -Choice category: 6% in the first year, then 3%; groceries and wholesale clubs: 2%
  • -Those rates share a $2,500 combined purchase cap each quarter; 1% thereafter and on other purchases
  • -Posted purchase APR: 27.49% variable; no introductory APR on this secured offer
  • -Periodic review for deposit return; not every account qualifies

Find the Customized Cash Rewards Secured listing on Bank of America's card comparison page. Its deposit, income and ability-to-pay review determine the credit line. The first-year category bonus is distinct from the signup cash bonus advertised for the unsecured card. At the shared quarterly cap, additional eligible-category spending earns 1%; the cap is not separate for groceries and your chosen category. Confirm the specific offer's application terms and category definitions.

OpenSky Secured Visa Credit Card

Secured Credit Card

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Fee: $35 annual feeDeposit: $200 to $3,000, subject to approval

Consider when you need an application without a credit check or linked checking account

  • -No credit check for this secured product; approval is not guaranteed
  • -Reports monthly to all three major credit bureaus
  • -Merchant cash-back offers, with offer-specific eligibility and possible activation
  • -Posted purchase APR: 23.89% variable; foreign transaction fee: 3%

The separate OpenSky Plus has no annual fee and a $300 minimum deposit. For the $35 card, compare the recurring cost against the extra cash a larger deposit would tie up. Ask for current funding instructions if you do not have a checking account. OpenSky advertises unsecured-card opportunities, but its FAQ gives conflicting answers about conversion of the existing secured card. Ask whether an offer opens a separate account and whether your original deposit will be returned.

Choose with the cash you can actually spare

Imagine you have $260 after this month's essential bills, but $100 must remain available for next week's bus fares and groceries. That leaves $160 for a deposit. A card requiring $200 would leave too little cash, even if it earns rewards. A $49 deposit could fit only if that is the amount the issuer actually approves for you. Before applying, write down four answers: required cash today, money still available afterward, recurring fees, and the monthly purchase amount you can repay. Waiting is a reasonable choice if no offer fits those numbers.

Separate the deposit, the bill and the fee

Consider a fictional conventional secured card with a $200 deposit and $200 limit. After a $30 purchase, you still owe a $30 card bill; the original deposit is collateral, not a payment already made. An annual fee is another cost, not money saved for you. Compare OpenSky's $35 annual fee with Plus's extra $100 minimum deposit: over two years, an unchanged $35 annual fee totals $70, while the additional $100 deposit remains collateral subject to refund terms. Those figures exclude interest and other charges. Choose based on both ongoing cost and access to cash.

Use a payment routine you can maintain

Start with a purchase already in your budget. Note the statement date, due date and payment method. Autopay can help, but verify it is active, the funding account has enough money, and the payment posts. Keep reported balances low relative to available credit; 30% is a common guideline, not a guaranteed scoring cutoff. For example, $30 on a $200 limit is 15%. Chime Card does not report utilization in the same way. Check your credit reports for errors rather than expecting a specific score gain after a fixed number of months.

Check what an upgrade actually changes

Ask whether an offer returns your deposit, increases your limit, changes the same account to unsecured, or opens a separate account. These are not interchangeable. Get the fee, APR and deposit-refund terms before accepting. Do not budget around receiving your deposit back in six or twelve months. Before closing a card, weigh its fees and usefulness against the possible effect of reducing available credit, especially if you carry balances elsewhere. Keep monitoring any account you leave open.

Compare a card with a credit-builder loan

A secured card provides a reusable purchase limit. A credit-builder loan generally holds the loan funds while you make scheduled payments, then releases savings under the lender's terms. Ask about total fees, interest, reporting and access to the funds before choosing either. Taking both is not a shortcut to a better score. If another payment would strain your budget, avoid adding a product just to increase your credit mix. A credit counselor can help you compare options; ask about service fees first.

Read rewards and interest terms separately

A reward does not cancel an interest charge. With a purchase grace period in effect, paying the full statement balance by the due date can avoid interest on new purchases. Cash advances and a lost grace period work differently. Check your agreement if you have been carrying a balance. Also check category activation, spending caps and excluded purchases. Apply only for credit you need: many applications involve a hard inquiry, although the no-credit-check secured products listed here are exceptions.

Frequently Asked Questions

Can I get a secured card with no credit at all?
Possibly. Some issuers accept applications without an existing credit score, and some secured products do not run a credit check. They can still decline an application. Identity, income, existing debt and other eligibility conditions can matter. Being able to fund a deposit does not guarantee approval.
Do I get my deposit back?
Check the card's refund terms. Conventional secured deposits can be returned after an eligible unsecured conversion or account closure with the balance settled. An issuer may apply collateral to unpaid amounts before refunding the remainder. Timing varies. Annual fees and interest are separate charges, not refundable deposits. Chime Card allows secured funds to pay monthly charges while the account is open.
How long does it take to build credit with a secured card?
There is no reliable timeline or point increase for everyone. Your existing report, payment history, balances, other accounts and the scoring model all matter. A lender's possible six-month review is not a promise of a better score or an unsecured upgrade. Focus on affordable payments and accurate credit reporting.
Does a secured card charge interest?
Many do; Chime Card currently charges no interest. For cards that charge interest, review the purchase APR and grace-period terms. Paying in full by the due date avoids interest on new purchases only when the applicable grace-period conditions are met. Cash advances commonly start accruing interest immediately. You do not need to pay interest to establish credit history.
Can I get a secured card after bankruptcy?
A prior bankruptcy does not establish whether a particular issuer will approve you. Ask about that card's current eligibility rules, including any treatment of a pending or discharged case. Check your credit reports and the reason for any denial before submitting more applications. If your bankruptcy case is still active, discuss taking on new credit with your bankruptcy attorney before proceeding.
What is the difference between a secured card and a prepaid card?
A secured card is a credit account; reported payment activity can help or hurt your credit history. A basic prepaid card spends money loaded onto it and does not establish credit history through borrowing and repayment. Do not assume that a product called a card reports positive payments: check the actual agreement and reporting policy.

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Disclaimer: This is informational only, not financial advice. Product details, fees, and interest rates change frequently. Always confirm current terms directly with the financial institution before applying. We are not affiliated with any of the banks or financial products mentioned. For help choosing a credit counselor, read CFPB’s questions about services and fees.

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