Best Secured Credit Cards

I have a lot of personal experience with secured cards and wanted to give some advice. There are some freaking terrible secured cards out there in fact a few of them have insane fees. I personally used one that had crazy fees and honestly it wasn’t worth it. I also used a really great one that I would recommend to anyone. That card was a crucial step in improving my credit score from under 500 to 770.

The Winner

The best secured credit card I used was the Orchard Bank Secured Mastercard. It was the best deal I found and they were pretty cool to work with. Here are some of the details of the card:

• $200 Security Deposit
• No Annual Fee For The First Year ($35 per year after that)
• Reasonable Fees ($35 over-limit fee, etc.)

If you compare that to some of the other cards I’ve used it’s simply amazing. One of the cards I used had a $48 annual fee, a $97 processing fee, a minimum deposit of $300, and a $8 per month participation fee.