If you have little or no credit, secured credit cards are a great way to get started! A lot of people use secured credit cards to rebuild credit, so people automatically just think of them as “for bad credit” but the reality of the situation is that they are great for anyone trying to build or rebuild credit.
They make great “starter” cards because of the following features:
- You submit a security deposit which becomes your credit limit. Since the bank has this security deposit, most of them do not do credit checks. Perfect for people with little or no credit. And of course a main reason people with bad credit use them.
- Many will submit your payment history to the credit bureaus. Thus building your credit rating. With on time payments you can create a solid credit history for yourself. The credit cards we have on this page will always submit your payment history to the credit bureaus. Not all secured credit cards do this, or some even ask for a monthly fee for a “credit builder” program. If they have a fee like this we will also post it in the description of the card.