The Best Secured Credit Cards 2019

Secure credit cards are for people who are either first-time credit card users or have a bad credit history. Credit card bureaus Equifax and TransUnion are responsible to monitor your track record of credit card usage. For, those who fail to meet the standards set by these bureaus are less likely to be eligible for an unsecured credit card.

With a secured credit card, the credit card company holds your security deposit as a backup in case you fail to pay your credit card bill within the extended due date. Hence, a secured credit card system is a win-win for both the bank and the user.

Here are the best-secured credit cards in 2019.

1) Discover it® Secured

In 2018, Discover offered over $90 billion in direct baking loan and $376 billion of total network volume. Discover it is secured credit card and with no annual fee or any hidden costs. It has features like cash back and facility to watch your FICO® Credit Score for free. 

To get started, apply for a credit card on their website and secure your line with an equal security deposit. For instance, to get $200 credit, deposit $200 after account approval. By using your card responsibly and paying the bill on time, you can easily be eligible to get your security deposit back. This way you can also become qualified to get unsecured credit.

2) Capital One® Secured Mastercard®

Capital One comes under America’s top 10 banks based on deposits. Secured Mastercard® is one of their most popular secured credit card and has several amazing features. With Secured Mastercard®, you can pick your own monthly due date and payment method.

It only takes a couple of weeks to receive your Secured Mastercard® at your doorstep. All you have to do is fill up the application form for Secured Mastercard®, wait for their approval and once approved, deposit the mentioned amount as a security deposit.

3) Citi® Secured Mastercard®

Don’t let your bad credit history stop you from applying for a credit card again. Citi bank gives you a chance to reconcile for the past and rebuild your reputation with their secured credit card called Secured Mastercard®.  

On submitting the application for Secured Mastercard®, Citibank reviews your income details and credit history. Once you meet their credit qualification criteria, they approve your application without any delays. Later you can add security deposit(between $200-$2,500) equal to your credit limit.

4) OpenSky® Secured Visa®

No credit check is what makes OpenSky® Secured Visa® secured credit card stand out from the rest. Irrespective of your credit history, you can rebuild your credit without wasting any more time.

OpenSky® lets you be in complete control of your secured credit card. That means you set your own credit limit(minimum $200) without letting your income details come in the way.

You can use your OpenSky® Secured Visa® to pay for your groceries, electricity bill, phone bill and other purchases. In times of financial difficulties, you are required to pay the minimum payment set by the bank. In addition, OpenSky® helps you improve your credit score by reporting to major credit bureaus like Equifax®, Experian®, and TransUnion®.

5) Wells Fargo Secured Credit Card

For more than a century, Wells Fargo has been a leader in the finance and banking sector. There is a nominal fee of $25 per year and a security deposit is equal to the credit limit. So, if you deposit $300, you get a credit line of $300.

Moreover, Wells Fargo also helps you rebuild your profile in case you have a bad credit history. They send regular reports to the major credit bureaus who keep your credit score. For instance, every time you pay your credit card bill on time your credit score goes up. 


A secure credit card is just a trial period given to you by the bank. In this period, the banks want to make sure that you are a good customer who pays their credit card bill on time. Once you meet all their standards you are likely to receive an email from them asking you to convert your existing card to an unsecured account. Getting an unsecured account should be your final goal as the secured credit card comes with an annual fee and higher APR(Annual Percentage Rate).


Please enter your comment!
Please enter your name here