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Some cards are from Credible partners.

As the name suggests, a secured credit card means that the extension of credit to you is “secured” by the deposit you put down — like a mortgage is secured by the house for which you are getting a loan. So, to get a secured credit card you have to put down a certain amount of money — typically a couple of hundred dollars — that you can then draw against when using your card.

Secured cards are similar to debit cards, except that the transactions you make on your secured card can affect your credit. These cards are typically for young adults who are just starting to build their credit profile or other people who have somehow damaged their credit and need a way to rebuild it.

While secured cards are great for individuals just starting out or those with poor credit, they’re typically only focused on helping you build or rebuild your credit, and generally don’t offer much in the way of rewards or cash back.

Below, you can find our top secured credit cards for 2018.

Best secured cards

Best cash back rate

Discover it® Secured

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on Discover Card's website

Terms apply. Rates and fees.

Summary

The Discover it® Secured card is a rare bird in the world of secured cards — while other secured credit cards offer no rewards to their cardholders, the Discover it® Secured card gives you the chance to earn 2% cash back on all your purchases, up to $1,000 in combined spending per quarter at gas and restaurants and 1% on everything else.

And yes, their annual fee is still $0.

Get it

Rewards programs on secured credit cards are practically unheard of, but the Discover it® Secured card offers cardholders a fantastic cash back opportunity.

Key highlights

  • No Annual Fee, cash back on every purchase, and helps you build your credit with responsible use.
  • Your Secured Credit Card requires a refundable security deposit up to the amount we can approve of at least $200 which will establish your credit line. You will need to provide your bank information when submitting your security deposit.
  • We will automatically begin reviewing your account starting at 8 months to see if we can transition you to an unsecured line of credit.
  • Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
  • Receive FREE Social Security number alerts-Discover will monitor thousands of risky websites when you sign up.

Skip it

If you already have a good credit score, you could probably qualify for a better rewards card that doesn’t require you to put down a deposit. The Discover it® Secured card also charges a 24.49% purchase variable APR.

Is the Discover it® Secured card right for you? Read our full review here.