Finance
By Amrit Maurya Updated On 25 Feb, 2024
Discover it® Secured Credit Card: One of the best all-around choices due to its cashback rewards, potential for graduating to an unsecured card, and no annual fee.
Capital One Platinum Secured Credit Card: A solid option with the potential to increase your credit limit after responsible use, and no annual fee.
Capital One Quicksilver Secured Cash Rewards Credit Card: Offers 1.5% cash back on all purchases, a rare find among secured cards.
OpenSky® Secured Visa® Credit Card: No credit check required; excellent for those with very poor credit or no credit history. However, this comes with an annual fee.
Citi® Secured Mastercard®: No annual fee and provides free monthly access to your FICO score.
Bank of America® Customized Cash Rewards Secured Credit Card Offers 3% cashback in a category of your choice
Important Things to Remember – Secured Deposit: All these cards require a security deposit, usually equal to your credit limit. You get this back if you close the account in good standing or upgrade to an unsecured card.
Important Things to Remember – Responsible Use is Key: Pay your bill on time and keep your balance low. These demonstrate good credit habits that raise your score. – Graduation Potential: Many issuers will periodically review your account to see if you qualify for an unsecured card and return of your deposit.
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