If you're looking for a secured card, try your local bank where you have a checking account. If they have a secured card, it's possible they offer their customers good terms. But if you're looking in the open market, Capital One is a bank that offers a secured credit card. The Capital One Secured MasterCard reports to the major credit bureaus. This card has a $29 annual fee and a variable APR of 22.9 percent for purchases. That APR is a little high so you don't want to carry a balance.
Of course, your goal with a secured card is to rebuild your credit. Pay your credit card bill in full and on time. With persistence and patience, your credit score should climb and you'll qualify for an unsecured card.
- Will going from a secured credit card to an unsecured credit card improve my credit?
- Does a credit union secured credit card make as positive an impact on credit scores as one held by a major commercial bank?
- Does an unsecured card build credit faster than a secured card? Does FICO rate them differently?
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