If you're looking for a secured credit card with flexible terms and higher cash back rates, there are several options to choose from. Many cards are eligible for credit checks and have very lenient underwriting requirements. The only requirement is that you can pay the security deposit. These cards can be costly and have high APRs. It is not possible to become unsecured.
Capital One Quicksilver Secured Cash Rewards Credit Card
People with bad credit ratings will love the Capital One Quicksilver Cash Reward Credit card. Applicants only need to make a $200 initial deposit and within six months they will receive a higher credit line. After six months of on-time payments, Capital One will consider raising the credit limit automatically. This credit card has a low interest rate, no annual fee, and no minimum balance.
Another great feature of the Capital One Quicksilver Secured Cash Reward Credit Card is its rewards program. It offers a maximum of 1.5% cash back for all purchases, and 5% cash back when you shop at Capital One Travel. This feature makes the Capital One Quicksilver Secured Cash Rewards Credit Card one of the most unique among secured credit cards. This card not only earns points but also provides other benefits like a zero fraud liability and a free monthly FICO score.
Find it Secure
The Discover it Secured credit card is a great choice for people who are looking for a secured credit card with a generous welcome offer. Cardholders who use the card for one year will receive 2% cashback at gas stations and restaurants, and an unlimited 1% cashback on all other purchases. It also offers a cash back match program, meaning that the first year of rewards will be matched by Discover. This means that you can immediately start earning cash back while still working towards establishing credit.
Discover it Secured credit card has a great rewards program. Cardholders have the option to earn rewards just by spending money in certain 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 has many benefits for those who have difficulty getting approved for traditional credit cards. The card comes with no annual fee and no foreign transaction charges. There are no fees for returned or late payments. It can be used for both online and in-store purchases.
The Platinum Secured Credit Card has been specifically created for those with bad credit or no credit. It offers credit lines up to $1,000. You can also access top-of the-line digital financial tools that allow you to monitor your credit history from anywhere. This card offers many practical benefits such as travel assistance and Apple Pay.
Capital One Secured Masterscard
The Capital One Secured Mastercard makes a great choice if you have bad credit or want to rebuild your credit. There is no annual fee and a credit limit of $200. The card is a secured one, so it can't be used to get cash advances. However, you are still able to make purchases and use it as a credit card to build your credit.
You can increase the credit line of your Capital One Secured Mastercard after you have made five on-time payments. To receive your card, you will need to pay a $49 security fee. A minimum of five timely monthly payments can allow you to increase your credit limit up to $1,000