The Best Secured Cards with No Annual Fee

By Christina Majaski. Last updated 20 June 2017. 0 comments

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As one of the only options available for those with poor or no credit, secured credit cards have long carried a bad reputation for charging extra fees and high APRs, in addition to the security deposit required by card members just to carry the card. In many instances, these fees end up harming credit more than helping and the card user ends up with more debt and an even worse credit rating.

Over the years, secured credit cards have bounced back quite a bit by offering more reasonable opportunities for building or rebuilding credit. Not only do many secured options now offer extra incentives such as rewards programs and cardmember perks, there are cards that actually include manageable APRs and relatively low fees. Though secured cards without annual fees are rare, we've listed the best ones here. (See also: Best Secured Cards for Rebuilding Credit)

Capital One® Secured Mastercard®

Capital One removed the annual fee for their Secured Mastercard®, making this one of the best all around secured cards available. The card comes with all the benefits of their unsecured cards, such as extended warranty, auto rental insurance, 24/7 roadside assistance, price protection, and more. It has a 24.99% variable APR. As with all Capital One cards, there is no foreign transaction fee.

Click here to learn more and apply for the Capital One® Secured Mastercard® today!

Citi® Secured Mastercard®

The Citi® Secured Mastercard® from our partner Citi allows those with no credit history to begin to build one, without having to pay an annual fee for it. The card requires a $200 to $2,500 security deposit. Your card limit will be in the amount of your security deposit. The APR is 23.49% variable. 

Click here to learn more and apply for the Citi® Secured Mastercard® today!

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