The Best Secured Cards That Pay Interest on Your Deposit

By Kris Majaski. Last updated 9 June 2020. 0 comments

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Although secured credit cards provide an opportunity for those with less than stellar credit to carry a credit card while repairing credit, it doesn't come without a price. Not only are secured credit cards notorious for high fees and high APRs, they require a security deposit that is held while the account is open in case you default on the balance or don't make your payments.

Most of the time, this security deposit is held and returned when you close the account less any fees or outstanding balances. There are secured cards, however, which hold the deposit in savings accounts or CDs, allowing you to earn a little bit extra while the deposit is held. While the interest you earn isn't enough to make you rich, it can add up especially if you deposit a large amount, which also results in a higher credit limit on your card. Here are the best secured credit cards which pay interest on your deposit. (See also: Best Secured Cards that Rebuild Credit)

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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Guest Ronald T.

Although the Capital One Platinum secured Mastered is not listed, this was the card I used to rebuild my credit starting in 2013. With a $200 initial deposit in April of 2013 and credit scores in the very low 600's across the 3 credit bureaus. I was able to increase my scores in the 750+ range after 18 months of responsible use (no missed or late payments and keeping my credit utilization between 10% to 20%.} On July 17, 2015 I was approved for a Capital One Quicksilver Visa card with a $5,000 credit limit. The Capital One secured Platinum Master card is an excellent card to build or re-establish ones credit profile if used responsibly with the 3 credit bureaus Transunion, Experian and Equifax. Its like having "financial" training wheels!