There are many options to choose between if you want a secured credit card that has flexible terms and offers higher cash back rates. Many cards are eligible for credit checks and have very lenient underwriting requirements. Approval should be granted as long you can afford the security fee. These cards can be costly and have high APRs. It is not possible to become unsecured.
Capital One Secured Cash Rewards Credit card
The Capital One Quicksilver Secured Cash Reward Credit Card is a great option for people who have poor credit. In order to get a higher credit score, applicants only need to deposit $200. Capital One will review your credit limit and consider increasing it automatically after six consecutive months of making on-time payments. The card has a low annual fee, a low interest-rate, and carries a small minimum balance.
The rewards program is another great feature of Capital One Quicksilver Secured cash Reward Credit Card. The rewards program offers unlimited 1.5% cashback and 5% cashback for purchases made at Capital One Travel. This makes the Capital One Quicksilver Cash Rewards Credit Card unique among secured credit cards. Other than earning points, the card offers additional benefits such as a zero fraud risk and a monthly FICO credit score that is free.
You can find it secured
For those who want a secured credit card, the Discover it Secured card is an excellent choice. It comes with a generous welcome deal. The first year of card use offers 2% cash back at gas stations and restaurants and unlimited 1% cash back on all other purchases. Discover will match your first year of rewards with a cashback match program. This means you can start earning cash back right away and still be on your way to establishing credit.
Discover it Secured creditcard offers great rewards programs that make it easy for cardholders earn rewards when they spend money in particular categories. These bonus categories were designed to match consumers' natural spending habits. Cashback rewards earned by this card can be easily redeemed at anytime.
Capital One Platinum Secured Card Credit Card
Capital One Platinum Secured Credit Card provides many benefits to people who are having difficulty getting approved for traditional credit cards. For starters, this card has no annual fee and no foreign transaction fees. You will not be charged for late or returned payments. You can use it for online and in-store shopping.
The Platinum Secured Credit Card is designed specifically for those with no or poor credit. It provides a credit line of up to $1,000. It also comes with top-of-the-line digital financial tools, which allows you to keep tabs on your credit history at any time. It also provides practical benefits like Apple Pay support and travel assistance.
Capital One Secured Mastercard
The Capital One Secured Mastercard provides a great option to people with bad credit, or for those who want their credit to be rebuilt. There is no annual fee and a credit limit of $200. It's not a secured card so you cannot get a cash advance. However, you can still make purchases with the card and build credit.
After you have made five timely payments, your Capital One Secured Mastercard credit limit can be increased. You must pay a $49 security deposit in order to receive your card. The credit line can be increased up to $1,000 if you make five on-time monthly payments.