Secured Credit Cards

Secured credit cards are issued to people with bad or no credit. In order to use a secured card, you must first deposit money into your card's account. Only then will you be able to spend with the card.

The credit card companies see this as a means to protect themselves from high-risk customers. In turn, customers use secured cards to repair their credit scores and to purchase things that otherwise wouldn't be available to them without a credit card. Making a hotel reservation, for instance, requires a major credit card number.


Credit Panda's Recommended Credit Card

Credit Panda recommends Applied Bank™ Secured Visa® Credit Card as our favorite Secured credit card.

  • CHOOSE Your Credit Limit Up To $5,000
  • 9.99% Low Fixed APR - Rate Won’t Change Even If You’re Late!
  • NO Credit Requirements
  • $0 Fraud Liability
  • NO Income Requirements
  • Apply now at the the card issuer's website.

Intro APR

Regular APR

Annual Fee

Credit Needed

No Introductory Rate Available

9.99% Fixed

$0

None

Applied Bank™ Secured Visa® Gold Card

  • CHOOSE Your Credit Limit Up To $5,000
  • 9.99% Low Fixed APR - Rate Won’t Change Even If You’re Late!
  • NO Credit Requirements
  • $0 Fraud Liability
  • NO Income Requirements
  • Apply now at the the card issuer's website.

Intro APR

Regular APR

Annual Fee

Credit Needed

No Introductory Rate Available

9.99% Fixed

$50

Good

Bank of America Secured Visa® Card

  • Set Your Own Credit Limit
  • Credit Lines Available From $300 to $10,000
  • Additional Details & Information
  • Build or Reestablish Your Credit
  • Card issued by FIA Card Services, N.A.
  • Apply now at the Bank of America website.

Intro APR

Regular APR

Annual Fee

Credit Needed

0% APR for 12 Billing Cycles

Varies

$29

Very Good

Orchard Bank MasterCard® Secured

  • Low Annual Fees
  • Initial Credit Limit Up To $1,000
  • Periodic Credit Limit Increase Review
  • Competitive APRs
  • Complimentary Online Services for Account Management and Payment
  • Apply now at the the card issuer's website.

Intro APR

Regular APR

Annual Fee

Credit Needed

n/app

Varies

$35

None

New Millennium Bank Secured Gold Visa® / MasterCard®

  • Approved Regardless of Credit History
  • No Credit Check
  • Reports to All 3 Bureaus
  • Total Credit Limit Up To $10,000
  • Get Cash at Over 740,000 ATMs
  • Apply now at the New Millennium Bank website.

Intro APR

Regular APR

Annual Fee

Credit Needed

No Introductory Rate Available

19.5% Fixed

$59

Good

New Millennium Bank Secured Black Diamond Visa®/MasterCard®

  • Approved Regardless of Credit History
  • No Credit Check
  • Reports to All 3 Bureaus
  • Total Credit Limit Up to $10,000
  • Get Cash at Over 740,000 ATM's
  • Apply now at the New Millennium Bank website.

Intro APR

Regular APR

Annual Fee

Credit Needed

No Introductory Rate Available

19.5% Fixed

$59

Good

New Millennium Bank Secured Platinum Visa®/MasterCard®

  • Free Companion Airfare
  • Get Approved for Up To $10,000 in Secured Credit with No Credit Check
  • Guaranteed Issue
  • Membership in TheWorldsBestTravelClub.Com, which Offers Cardholders a $69 Cash Rebate on Their First Condo Booking
  • Credit Amount Equals the Deposit
  • Apply now at the New Millennium Bank website.

Intro APR

Regular APR

Annual Fee

Credit Needed

No Introductory Rate Available

19.5% Fixed

$59

Good