Secured Sable ONE Credit Card Review

A secured credit card with rewards is rare. A secured card with rewards earned on purchases, a welcome bonus, and other cardholder perks is almost unheard of. Until now.
By Jennifer Doss  CardRatings Editor  | Updated

Secured Sable ONE Credit Card

Secured Sable ONE Credit Card
Our Rating:   
Average, Fair, No Credit, Limited Credit, Poor Credit
on Sable's secure website

CardRatings Editor's Analysis: Pros & Cons

  • Get a dollar-for-dollar match on all the cash back you've earned at the end of your first year.
  • Earn 2% cash back on eligible purchases, and 1% on everything else.
  • Sable provides cell phone coverage in the event your covered cell phone is stolen or damaged if your cell phone bill is charged to your credit card.
  • To apply for the card you must first have a Sable Bank Account and Debit Card which you'll use to fund your security deposit and to pay your monthly balance. Sable's app makes banking easy, but if you prefer to keep all your banking needs under one umbrella and already bank elsewhere, this might not be the best option for you.
Terms and Limitations Apply.

HOW DOES THE SECURED SABLE ONE CREDIT CARD WORK?

The Secured Sable ONE Credit Card works the way any secured credit card does in that you must put down a refundable security deposit when opening an account, and that deposit will equal your initial line of credit.

Technically there is no minimum deposit amount required, but in order to apply for the Secured Sable ONE Credit Card you must first have a Sable Bank Account and Debit Card, which is what you'll use to fund your account. This makes the Secured Sable ONE Credit Card a little different from other secured credit cards which let you fund your account with any bank you want.

With the Secured Sable ONE Credit Card, funds can be added to your security deposit by using the "increase credit limit" option in your Sable app. This will automatically deduct the funds from your Sable banking account to your credit account to act as the security deposit for your credit limit.

Once you've funded your account, you can use your card to make purchases up to your credit limit (being mindful though to not use too much of your available credit as this can have a negative impact on your credit score). With on-time payments and responsible use of the card, you could then graduate to an unsecured card in as little as four months with no credit check or negative impact to your credit score.

Top Features

 Cash Back on Gas
1% cash back on all other purchases.
 Cash Back on Groceries
Earn 2% cash back on everyday purchases at Amazon, Uber, Uber Eats, Whole Foods, Netflix, Spotify, and more! Plus, earn 1% cash back on all other purchases.
 Cash Back on Other
1% cash back on all other purchases.

WHAT ARE THE BENEFITS OF THE SECURED SABLE ONE CREDIT CARD?

The Secured Sable ONE Credit Card has a surprising amount of benefits, considering it's a secured credit card. Secured credit cards don't generally have a great reputation - or they didn't – because they used to have pretty onerous fees and many still have pretty high interest rates. That's been changing a lot in recent years - although you can certainly still unfortunately find secured credit cards with annual fees and high interest rates. The Secured Sable ONE Credit Card is an example of why secured credit cards have a more favorable reputation than they used to.

The main benefits of the Secured Sable ONE Credit Card include:

  • A generous welcome bonus. You get your bonus at the end of your first year, but it's a doozy. All of the cash back that you have earned after a year, Sable will match that dollar for dollar. So if you earn, say, $500 cash back over the year, you'll be given another $500, making your first-year rewards earing $1,000. Welcome bonuses are very rare for secured credit cards; especially ones this lucrative.
  • A robust cash back feature. Another rare secured credit card perk is rewards earned on purchases. With the Secured Sable ONE Credit Card you can earn 2% cash back on everyday purchases at Amazon, Uber, Uber Eats, Whole Foods, Netflix, Spotify, and more. Plus, earn 1% cash back on all other purchases.
  • You can get your security deposit back quickly, if all goes well. Sable may return your deposit and switch you to an unsecured card after four months, which is quicker than most secured credit cards.
  • A lot of credit availability. You can get up to a $10,000 credit limit. Of course, you'd have to put down a $10,000 deposit, but still, it's nice to know you have the option if you need it.
  • No credit check or U.S. credit history required for application.
  • No Social Security number required for non-U.S. citizens.
  • Build American credit history quickly. According to Sable, it offers enhanced reporting on more data points than any other card so you can build your credit faster.
  • No annual fee.
  • No minimum security deposit.
  • Premium benefits usually reserved for unsecured cards. Your Secured Sable ONE Credit Card comes with phone insurance, so you'll be covered for damage, like a cracked screen, or loss, provided you're using your card to pay your monthly wireless bill. You'll also get car rental insurance, new purchase insurance (most items you buy with your card will be covered for theft and damage within 90 days of the purchase date), price protection (you'll be reimbursed the difference if you find a lower price within 90 days on the same item, provided it was bought with your Secured Sable ONE Credit Card), extended warranty, emergency roadside assistance and more.

WHAT MAKES THE SECURED SABLE ONE CREDIT CARD UNIQUE?

There are several features that really make the Secured Sable ONE Credit Card unique, and in a way, it's that it even has features at all that makes it stand out. For years, secured credit cards existed to help people build credit, and that was it. It was rare to see a secured card offer much in the way of rewards or perks.

The Secured Sable ONE Credit Card isn't unique in that it's the only secured card to offer perks for cardholders, but it's certainly a strong competitor. Often, a secured card might have a welcome bonus, or maybe offer ongoing rewards on purchases, but that's it. There aren't many cards out there that offer both. The Secured Sable ONE Credit Card steps it up even further by offering benefits such as cell phone insurance - a perk that's rare even in the unsecured credit card space.

Finally, for better or for worse, the Secured Sable ONE Credit Card is unique in that it requires you to first have Sable bank account, which leads to the next point…

WHAT ARE THE POTENTIAL DOWNSIDES OF THE SECURED SABLE ONE CREDIT CARD?

In order to apply for the Secured Sable ONE Credit Card you must first have a Sable Bank Account and Debit Card. This doesn't mean you can't bank with another bank if you want, but it does mean that you'll need to fund your Secured Sable ONE Credit Card with your Sable bank account. This may not be ideal if you prefer to keep all of your banking needs under one roof.

With that said, there is no minimum deposit required, no monthly account fees, no overdraft fees, and no insufficient funds fees associated with the Sable bank account, and the Sable app makes managing your finances easy.

To add your security deposit, all you need to do is navigate to the Secured Credit Card in the cards screen of the app and choose to "increase credit limit."" This will automatically deduct the funds from your Sable banking account to a reserve account to act as the security deposit for your credit limit.

To pay off your credit card balance, choose the "pay your secured credit card" option in the "move money" tab in the app. This will deduct the funds from your Sable banking account and pay off your outstanding balance.

One other potential downside to mention is that the Secured Sable ONE Credit Card charges a 2% fee on all foreign transactions, so it's not the best card to take with you when traveling abroad.

HOW TO BUILD CREDIT WITH THE SECURED SABLE ONE CREDIT CARD

Every month, Sable will send your information to the three credit bureaus, but that's typically how most secured credit cards work. In fact, if you are looking at a secured credit card and learn that it doesn't send your information to the credit bureaus, you probably shouldn't apply for it.

In four months, you may be able to graduate to an unsecured credit card, but do keep in mind, that isn't guaranteed. You may not be given an unsecured credit card and get your deposit back for six months or eight or longer. It often depends on not just how well you're doing with making timely payments on your secured credit card, but it may hinge on whether you're letting other bills be paid late - and in general, how your credit score looks.

But the bottom-line is - if you use the Secured Sable ONE Credit Card responsibly, your credit report should soon look better, and your credit score should climb.

HOW DOES THE SECURED SABLE ONE CREDIT CARD COMPARE TO OTHER CARDS?

The Secured Sable ONE Credit Card is definitely different from other secured credit cards, and yet, not so different, because these competing cards are pretty good cards, too. Here's how it stacks up with some of the other worthy secured credit cards out there:

Secured Sable ONE Credit Card vs. Discover it® Secured Credit Card

Like with the Secured Sable ONE Credit Card, the Discover it® Secured Credit Card offers cash-back rewards, too. You'll get 2% back on the first $1,000 spent each quarter at gas stations and restaurants (and then it goes to 1%), and 1% on all other purchases. Discover will also match all of the cash you've earned at the end of your first year. So there are just some subtle differences between the two cards when it comes to their cash-back rewards. You may like Sable's set up better, though, and you may like that it will possibly move you to an unsecured credit card in as little as four months; the earliest Discover will do it is seven months. Also, Discover has a $200 minimum deposit required to open an account, and Sable has no minimum deposit. With the Discover card though, you can fund your account with any bank account. Remember that with the Sable card, you must fund your account with a Sable bank account.

If you need to carry a balance with either card, you'll want to pay close attention to the APRs. With the Secured Sable ONE Credit Card, revolving balances will face a Prime + 6.99% APR (Variable) while the Discover it® Secured Credit Card has a 23.24% Variable APR.

Secured Sable ONE Credit Card vs. Capital One Quicksilver Secured Cash Rewards Credit Card

The Capital One Quicksilver Secured Cash Rewards Credit Card is another rare secured card that offers cash back. It doesn't have the 1% or 2% cash back feature, though, like with the Sable card. It just gives you flat 1.5% cash back on all purchases, with no caps.

That said, the Secured Sable ONE Credit Card has a cash-back bonus at the end of the year, where it looks at everything you earned over the year - and matches it. So you get a nice windfall at the end of your first year of card membership. The Capital One Quicksilver Secured does not have any sort of welcome bonus for new cardholders.

If you often travel internationally, though, the Quicksilver Secured has the advantage of no foreign transaction fees. This makes it a great companion for international travel.

Secured Sable ONE Credit Card vs. Chime® Credit Builder Secured Credit Builder Visa® Card

The Chime® Credit Builder Secured Credit Builder Visa® Card is a perfectly good secured credit card, but it lacks the cash-back pizzazz and perks (i.e., cell phone protection) that the others mentioned in this article have.

The main pluses are that there's no annual fee and no minimum security deposit required. Why would you consider it? Well, there's no interest with this card.

Wait, what?

Basically, with the Chime Credit Builder Secured Visa, you're using your own money, all the time. It isn't like you're putting down a deposit that you get back - you're spending your own money all the time with this card. But because the Chime Credit Builder Secured Visa reports your purchases and payments every month to the three major credit bureaus, it can still help you build up your credit. So it's a good card for somebody who may have had a bad experience with credit cards and may not even be sure if they want a credit card. If you'd like to build up your confidence with credit cards while building your credit score at the same, this could be a good choice for you.

WHO IS A GOOD FIT FOR THE SECURED SABLE ONE CREDIT CARD?

The Secured Sable ONE Credit Card can be a very good option for someone who doesn't have a bank and would like one, or for someone who doesn't mind opening a bank account with a new bank. It's marketed to people who are new to or working on their credit, or maybe new to the United States, but it can work for anybody looking for a secured credit card. For a secured credit card, as we've noted above, it's a pretty solid card, with some very good cash-back features and cardholder perks.

Secured Sable ONE Credit Card Compared to Other Cash back Cards

Apply online for Petal® 2 "Cash Back, No Fees" Visa® Credit Card
Petal® 2 "Cash Back, No Fees" Visa® Credit Card
Apply online for Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express
Apply online for Chase Freedom Unlimited®
Chase Freedom Unlimited®
Apply online for Citi<sup>®</sup> Double Cash Card - 18 month BT offer
Citi® Double Cash Card - 18 month BT offer
Cash Back on Gas
1% cash back on all other purchases. 
Cash Back on Gas
Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments. 1% cash back on eligible purchases right away. 2% - 10% cash back at select merchants. 
Cash Back on Gas
3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). 
Cash Back on Gas
1.5% cash back on all other purchases. 
Cash Back on Gas
1% when you buy plus 1% as you pay 
Cash Back on Groceries
Earn 2% cash back on everyday purchases at Amazon, Uber, Uber Eats, Whole Foods, Netflix, Spotify, and more! Plus, earn 1% cash back on all other purchases. 
Cash Back on Groceries
Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments. 1% cash back on eligible purchases right away. 2% - 10% cash back at select merchants. 
Cash Back on Groceries
6% at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) 
Cash Back on Groceries
1.5% cash back on all other purchases. 
Cash Back on Groceries
1% when you buy plus 1% as you pay 
Cash Back on other
1% cash back on all other purchases. 
Cash Back on other
Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments. 1% cash back on eligible purchases right away. 2% - 10% cash back at select merchants. 
Cash Back on other
1% Cash Back on other purchases. 
Cash Back on other
1.5% cash back on all other purchases. 
Cash Back on other
1% when you buy plus 1% as you pay 
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Petal credit cards are issued by WebBank, Member FDIC
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Terms and Limitations Apply

Disclaimer: The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.

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