The Best Secured Cards That Pay Interest on Your Deposit

By Christina Majaski. Last updated 12 December 2018. 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)

Green Dot primor® Visa® Gold Secured Credit Card

Green Dot offers several primor secured cards. The Green Dot primor® Visa® Gold Secured Credit Card requires a deposit between $200 and $5,000, which is held in an interest bearing savings account. It has a low fixed APR of 9.99%, but a $49 annual fee. This is a good option for those who need to leave a balance on their card. Most secured credit cards have high APRs.

Click here to learn more and apply for the Green Dot primor® Visa® Gold Secured Credit Card today!

Green Dot primor® Visa® Classic Secured Credit Card

The Green Dot primor® Visa® Classic Secured Credit Card also requires a security deposit of at least $200, which is held in a savings account that earns interest while it is held. The APR is higher at 13.99% fixed, but with a low $39 annual fee. If you won't be carrying a balance from month to month, a card with a lower annual fee would be the better option.

Click here to learn more and apply for the Green Dot primor® Visa® Classic Secured Credit Card today!

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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!