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Last Updated on November 6, 2023 by coffeepo
What is the best secured credit card?
The credit card industry is constantly evolving, with new cards and benefits being introduced every year. If you’re looking for a secured credit card in 2024, there are plenty of great options to choose from. We’ve compiled a list of the 10 best secured credit cards available this year, so you can find the one that’s perfect for you. Whether you’re looking for a low APR or bonus points, we have something for everyone on our list. Keep reading to learn more about each card and find the one that’s right for you!
1. Citi® Secured Mastercard®: Best Overall
If you’re looking for a great all-around secured credit card, the Citi® Secured Mastercard® is a great option. This card offers a low APR on purchases and balance transfers, as well as a host of other benefits including 24/7 fraud protection and online account management. You’ll also get access to Citi’s Price Rewind program, which can help you save money on your purchases. There’s no annual fee for this card, making it a great option for those who are looking to rebuild their credit.
2. Discover it® Secured Card: Best for Rewards
If you’re looking for a secured credit card with great rewards, the Discover it® Secured Card is a great option. This card offers 2% cash back on your first $1,000 in combined gas station and restaurant purchases each quarter, as well as 1% cash back on all other purchases. You’ll also get a free FICO® Credit Score every month, so you can keep track of your progress. There’s no annual fee for this card, and you can get your deposit back after 8 months if you’ve managed your account responsibly.
3. Capital One® Secured Mastercard®: Best for Low APR
If you’re looking for a secured credit card with a low APR, the Capital One® Secured Mastercard® is a great option. This card offers an APR of 26.99% on purchases and balance transfers, making it one of the lowest in the industry. You’ll also get access to a higher credit limit after making your first 5 monthly payments on time, and there’s no annual fee for this card.
4. Wells Fargo Secured Credit Card: Best for Building Credit
The Wells Fargo Secured Credit Card is a great option for those who are looking to build their credit. This card offers access to your FICO® Score so you can track your progress, and you’ll also get tips on how to improve your credit score. There’s no annual fee for this card, and you can get your deposit back after 12 months if you’ve managed your account responsibly.
5. USAA® Secured Card American Express® Card: Best for Military Members
If you’re a military member, the USAA® Secured Card American Express® Card is a great option. This card offers a low APR on purchases and balance transfers, as well as access to your FICO® Score so you can track your progress. You’ll also get 24/7 fraud protection and online account management. There’s no annual fee for this card, making it a great option for those who are looking to rebuild their credit.
6. BB&T Bright® Secured Visa® Credit Card: Best for Online Banking
If you’re looking for a secured credit card that offers great online banking features, the BB&T Bright® Secured Visa® Credit Card is a great option. This card offers access to your FICO® Score so you can track your progress, as well as free online account management and bill pay. You’ll also get a 0.25% discount on your loan interest rate when you enroll in automatic payments. There’s no annual fee for this card, making it a great option for those who are looking to rebuild their credit.
7. Navy Federal Credit Union nRewards® Secured Credit Card: Best for Customer Service
If you’re looking for a secured credit card with great customer service, the Navy Federal Credit Union nRewards® Secured Credit Card is a great option. This card offers access to your FICO® Score so you can track your progress, as well as free online account management and bill pay. You’ll also get 24/7 fraud protection and a 0.25% discount on your loan interest rate when you enroll in automatic payments. There’s no annual fee for this card, making it a great option for those who are looking to rebuild their credit.
8. First Progress Platinum Prestige Mastercard® Secured Credit Card: Best for Rewards
If you’re looking for a secured credit card with great rewards, the First Progress Platinum Prestige Mastercard® Secured Credit Card is a great option. This card offers 2% cash back on your first $2,000 in combined gas station and restaurant purchases each quarter, as well as 1% cash back on all other purchases. You’ll also get a free FICO® Credit Score every month, so you can keep track of your progress. There’s no annual fee for this card, and you can get your deposit back after 12 months if you’ve managed your account responsibly.
Conclusion
While there are many secured credit cards on the market, we have highlighted eight of our favorites that offer great benefits and top-notch security features. Whether you are looking for a card with no annual fee or one that offers cash back rewards, we have got you covered. So, what are you waiting for? Start comparison shopping today and find the perfect secured credit card for your needs!
