Best Secured Credit Cards of September 2023

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Secured credit cards tend to be devoid of flashy ongoing benefits and high earning rates. They instead serve one main purpose: To get someone with poor (or no) credit on their feet. Whether you're applying for your first credit card, are new to the US and looking to improve your credit score, or are trying to rebuild your credit after previous financial blunders, a secured credit card is one of the best plans of attack.

Best Secured Credit Cards

• U.S. Bank Cash+® Visa® Secured Card : Best overall
• Bank of America® Customized Cash Rewards Secured Credit Card : Best for choosing your own bonus categories
• U.S. Bank Altitude® Go Visa® Secured Card — Best for dining
• Capital One Quicksilver Secured Cash Rewards Credit Card — Best for collecting travel rewards
• Discover it® Secured Credit Card — Best welcome offer

Once you've nurtured a credit score of 700 or above, you can begin applying for the best credit cards that come with travel benefits, hundreds of dollars in statement credits, enormous welcome bonuses, and more.

Let's take a look at the best secured credit cards available to help you decide which is best for your lifestyle — and your future credit card goals.

Compare Secured Credit Cards

Why Trust Us: How We Chose the Best Secured Credit Cards

With little exception, secured credit cards do not provide ongoing benefits that are worth mentioning. The approval requirements are also extremely similar across the board. Therefore, we chose the best credit cards based on each card's earning rate and rewards currency.

Many secured credit cards come with no return whatsoever for spending. The cards on our list not only earn rewards, but they also rival (and even outperform) some of the best no-annual-fee cash back credit cards on the market.

Here's a full breakdown of how we rate credit cards at Insider.

Secured Credit Card Frequently Asked Questions

U.S. Bank Cash+® Visa® Secured Card

The U.S. Bank Cash+® Visa® Secured Card might not look exciting at first glance, but it's a surprisingly valuable product available to those new to the world of credit.

First, you'll earn 5% cash back on prepaid air, hotel, and car reservations booked through the US Bank Rewards Travel Center. The bonus cash you can earn is uncapped.

You'll also get 5% cash back on your first $2,000 in combined spending each quarter in two categories you choose. Eligible categories are fast food, home utilities, TV/internet/streaming, department stores, cell phone providers, electronic stores, sporting goods stores, gyms/fitness centers, ground transportation, movie theaters, furniture stores, and select clothing stores. That's a healthy number of categories to choose from — though seemingly well selected to eliminate much possibility of spending too much per quarter.

Additionally, you can receive 2% cash back on eligible purchases in your choice of one of the following categories: Grocery stores and grocery delivery, restaurants, and gas stations/EV charging stations. You'll earn 1% cash back on all other eligible purchases.

U.S. Bank Cash Plus Secured Credit Card review

Bank of America® Customized Cash Rewards Secured Credit Card

The Bank of America® Customized Cash Rewards Secured Credit Card, similar to the U.S. Bank Cash+® Visa® Secured Card, allows you to choose your own bonus categories. You'll earn 3% cash back from one of the following categories: Gas, online shopping, dining, travel, drug stores, and home improvement/furnishings.

These are extremely practical bonus categories that powerfully complement the spending habits of most of us. You can change your bonus category once per calendar month, so if you anticipate spending a lot on home furnishings in the coming month, you can prepare for it. You'll also get 2% back at grocery stores and wholesale clubs and 1% back on everything else.

You can further boost your rewards if you're also a member of Bank of America Preferred Rewards. For those with a certain amount of assets in a Bank of America or Merrill account, you could earn between 25% and 75% more cash back — bringing your potential rewards up to a whopping 5.25%.

Bank of America Customized Cash Rewards Secured Credit Card review

U.S. Bank Altitude® Go Visa® Secured Card

The U.S. Bank Altitude® Go Visa® Secured Card is likely your best bet for a meaningful return on spending if you eat out regularly. You'll get 4 points per dollar on dining, takeout, and restaurant delivery. You'll also get 2 points per dollar at grocery stores, gas stations/EV charging, and for eligible streaming services, which include popular platforms such as Amazon Prime Video, Apple TV+, Hulu, Netflix, YouTube TV, and many more.

You'll receive 1 point per dollar for everything else. The points you earn with this card can be redeemed for a flat 1 cent each — meaning this card effectively earns 4% back on dining.

One other benefit of this card (which is excellent for a no-annual-fee credit card) is its annual streaming credit. For each 12-month period that you make a qualifying streaming purchase, you'll automatically receive a $15 credit on your account.

U.S. Bank Altitude Go Secured Credit Card review

Capital One Quicksilver Secured Cash Rewards Credit Card

The Capital One Quicksilver Secured Cash Rewards Credit Card might appear to underdeliver when it comes to earning rewards for everyday spending, especially compared to the other cards on this list. You'll get 5% cash back on hotels and car rentals booked through the Capital One Travel Portal and a flat 1.5% cash back on all other eligible purchases.

However, this card has a secret ability that others do not: You can turn the cash back you earn into valuable Capital One miles at a rate of 1 mile per cent. The key is to also hold a Capital One miles-earning card such as the Capital One VentureOne Rewards Credit Card or the Capital One Venture Rewards Credit Card. Per Insider's points and miles valuations, Capital One miles are worth 1.7 cents each when you transfer them to airline and hotel loyalty programs such as British Airways, Air Canada Aeroplan, Wyndham, and more.

If your future goals include travel, refrain from cashing out the rewards you earn with this card. Once your credit score is around 700, open a Capital One miles-earning card and combine your rewards. You may instantly have enough for a free trip to just about anywhere.

Capital One Quicksilver Secured Card review

Discover it® Secured Credit Card

The Discover it® Secured Credit Card is a pretty straightforward cash-back card with few bonus categories that are easy to keep track of. It earns a simple 2% back at gas stations and restaurants on up to $1,000 in combined purchases each quarter (then 1% back). You'll earn 1% cash back on everything else.

This card is exceptionally valuable during the first year of cardmembership, however. Discover will match all the cash back you earn during your first 12 months. That means you'll earn up to 4% cash back at gas stations and restaurants and 2% cash back on all other purchases.

If much of your everyday spending doesn't fall into the bonus categories of the other credit cards on this list, the Discover it® Secured Credit Card is the clear winner for you, as you'll earn no less than 2% back during your first 12 months.

Discover it Secured Credit Card review

Joseph Hostetler, CEPF

Credit cards reporter

Joseph Hostetler was a credit cards reporter for Insider who also covered helpful miles and points tricks. He is also a Certified Educator in Personal Finance (CEPF). Joseph has more than six years of experience writing professionally about credit cards, previously authoring and editing for The Points Guy and Million Mile Secrets. 

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Angela Fung

Marketing Compliance Manager

Angela Fung is the marketing compliance manager at Personal Finance Insider, overseeing a team that ensures content accuracy and editorial independence so readers are always getting up-to-date and objective financial advice. She is the primary contact for credit cards compliance and has experience managing content and partnerships for the banking, loans, and investment verticals as well.  The compliance team's mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.

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