Best Secured Cards
Editor's Picks - Secured Cards:
 Public Savings Bank Secured Visa® |
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| Details |
- Introductory Purchase APR - 0% for the first 6 months
- Standard Purchase APR - 11.24% variable
- Introductory Cash Advance APR - 10.99%
- Cash Advance APR - 19.99%-23.99% variable
- Annual Fee - None
- Application Fee - $79
- Minimum Deposit - $300
- Maximum Credit Line - $9,000
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| Why we like this Secured Card |
- No Annual Fee - While there is a $79 application fee, there is no annual fee associated with this card. This is rare among secured cards.
- Grace Period - With a 25 day minimum grace period you get a little extra time each month to make your payment.
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| What to watch |
- Credit Limit - If you deposit $5,000 or more, you will only be assigned a credit limit that is 90% of the amount you deposit. For example, a $10,000 deposit will only get you a $9,000 credit limit.
- Cure from Default Pricing - If you do miss some payments and trip into default pricing, the default APR is only 23.99%. While this is fairly low as default pricing goes, they’ve eliminated the 6-month cure period for on time payments. That means your rate can stay there indefinitely.
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| How to apply |
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| Citi® Secured MasterCard® |
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| Details |
- Purchase APR - 13.24% variable
- Cash Advance APR - 19.99% variable
- Annual Fee - $29
- Application Fee - None
- Minimum Deposit - $200
- Maximum Credit Line - $25,000
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| Why we like this Secured Card |
- No Application Fee - No application fee combined with a low annual fee makes this an attractive way to establish or rebuild your credit.
- Earn Interest on Your Deposit - Unlike some secured cards, you earn interest on your deposit, which is put into a certificate of deposit.
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| What to watch |
- Grace Period - If you pay your balance in full within your grace period, you will avoid finance charges. But watch out, the grace period on this card may be as short as 20 days compared to 25 on some other secured cards.
- No Cure if You Trip Default Pricing - If you are delinquent on payments, your interest rate will increase to as much as 28.99% and Citi does not advertise a "cure period" or a period of time to keep your account current and return to your original rate.
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| How to apply |
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| Bank of America® Secured Visa® |
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| Details |
- Purchase APR - 14.24% variable
- Cash Advance APR - 19.24% variable
- Annual Fee - $29
- Application Fee - None
- Minimum Deposit - $250
- Maximum Credit Line - $10,000
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| Why we like this Secured Card |
- No Application Fee - No application fee combined with a low annual fee makes this an attractive way to establish or rebuild your credit.
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| What to watch |
- Grace Period - If you pay your balance in full within your grace period, you will avoid finance charges. But watch out, the grace period on this card may be as short as 20 days compared to 25 on some other secured cards.
- No Cure if You Trip Default Pricing - If you are delinquent on payments, your interest rate will increase to as much as 29.99% and Bank of America does not advertise a "cure period" or a period of time to keep your account current and return to your original rate.
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| How to apply |
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See more of our best credit card selections in these additional categories:
