Compare Credit Cards

Secured Credit Cards

Secured credit cards are a great way to establish credit. People with little or no credit history, along with people that have damaged credit, will likely be rejected when they apply for regular credit cards. Young people, new immigrants, and anyone with a very low credit score might fall into this category. For this group a secured credit card may be the best way to establish or re-establish credit.

Secured credit cards have many of same conveniences as regular credit cards but come with some limitations. Secured credit cards can be used in all of the same shopping venues as ordinary credit cards including stores, online, and telephone shopping. Like ordinary credit cards, most secure credit cards have a monthly billing cycle and report to major credit bureaus. But secured credit cards differ in that they tend to offer a much lower line of credit to start, and card holders are required to maintain a cash deposit at the bank that issues the card. This cash deposit is the bank's way of reducing their risk when they loan money to someone that has not yet established a good credit history. If the card holder defaults on their payments the bank will have the right to take the money directly from the funds on deposit in their bank.

Despite the limitations, secure credit cards are a good option to build credit and later on qualify for a regular credit card.

Applied Bank™ Secured Visa® Credit Card
	Ongoing APR	Card Type	Annual Fee	Appl Fee	Min Deposit Req	Max Credit Limit
	9.99%	Visa	$50	$0	$200	$5000
	9.99% Low Fixed APR - Rate Won’t Change Even If You’re Late CREDIT Bureau Reporting NO Credit Requirements NO Income Requirements ACCEPTED Worldwide at Millions of Locations Minimum $200 Deposit Required. Your Credit Limit Will Be Equal to the Amount of Your Deposit. ** Consumer Credit Card Designed For Limited Or Poor Credit					Card Terms

Applied Bank™ Secured Visa® Gold Card
	Ongoing APR	Card Type	Annual Fee	Appl Fee	Min Deposit Req	Max Credit Limit
	9.99%	Visa	$50	$0	$200	$5000
	9.99% Low Fixed APR - Rate Won’t Change Even If You’re Late! CHOOSE Your Credit Limit Up To $5,000* NO Credit Requirements NO Income Requirements ACCEPTED at 27 Million Locations Worldwide and Online Minimum $200 Deposit Required. Your Credit Limit Will Be Equal to the Amount of Your Deposit ** Consumer Credit Card Designed For Limited Or Poor Credit					Card Terms

Black Diamond Visa®/MasterCard®
	Ongoing APR	Card Type	Annual Fee	Appl Fee	Min Deposit Req	Max Credit Limit
	19.5%	MasterCard	$59	$99.95	$300	$5,000
	No Credit Check Approved Regardless of Credit History Total Credit Limit Up to $10,000 Reports to All 3 Bureaus Get Cash at Over 740,000 ATM's Emergency Cash Transfers ** Consumer Credit Card Designed For Limited Or Poor Credit Credit					Card Terms

New Millennium Bank Secured Gold Visa® / MasterCard®
	Ongoing APR	Card Type	Annual Fee	Appl Fee	Min Deposit Req	Max Credit Limit
	19.5%	MasterCard	$59	$69.95	$300	$5,000
	No Credit Check Approved Regardless of Credit History Total Credit Limit Up To $10,000* Reports to All 3 Bureaus Get Cash at Over 740,000 ATMs] Emergency Cash Transfers ** Consumer Credit Card Designed For Limited Or Poor Credit					Card Terms

Secured Credit Card Fees

Secured credit cards tend to charge more fees than ordinary credit cards so it pays to compare several offers and to read the terms and conditions before applying. Most of these cards have an annual fee, and some have additional application fees, or setup fees, or monthly fees. It bears repeating; understand the fee structure and your cost to maintain the card before applying. There are some good secured credit card offers out there, and there are some that will try to take advantage of someone's credit situation and charge unreasonably high fees. Do put forth the effort to find a good card with reasonable fees.