Best Secured Credit Cards of March 2024 (2024)

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The information for the following product(s) has been collected independently by Business Insider: U.S. Bank Cash+® Visa® Secured Card, Bank of America® Customized Cash Rewards Secured Credit Card, U.S. Bank Altitude® Go Visa® Secured Card. The details for these products have not been reviewed or provided by the issuer.

Getting a secured credit card is one of the best ways to boost your credit whether you're applying for your first credit card, new to the U.S. and looking to improve your credit score, or are trying to rebuild your credit after previous financial blunders.

Secured credit cards tend to be devoid of flashy ongoing benefits and high earning rates. Instead, they serve just one primary purpose: to get someone with poor (or no) credit on their financial feet.

Let's take a look at the best secured credit cards available to help you decide which is best for your lifestyle and your future credit card goals.

Compare the Top Secured Credit Cards

Best Secured Credit Cards of 2024

• U.S. Bank Cash+® Visa® Secured Card : Best overall
• Discover it® Secured Credit Card: Best welcome offer
• Bank of America® Customized Cash Rewards Secured Credit Card : Best for choosing your own bonus categories
• Capital One Quicksilver Secured Cash Rewards Credit Card: Best for collecting travel rewards
• U.S. Bank Altitude® Go Visa® Secured Card : Best for dining

Secured Credit Card Reviews

Best Overall: U.S. Bank Cash+® Visa® Secured Card

The U.S. Bank Cash+® Visa® Secured Card might not look exciting at first glance, but it's a surprisingly valuable product available to those new to the world of credit.

First, you'll earn 5% cash back on prepaid air, hotel, and car reservations booked through the US Bank Rewards Travel Center. The bonus cash you can earn is uncapped.

You'll also get 5% cash back on your first $2,000 in combined spending each quarter in two categories you choose. Eligible categories are fast food, home utilities, TV/internet/streaming, department stores, cell phone providers, electronic stores, sporting goods stores, gyms/fitness centers, ground transportation, movie theaters, furniture stores, and select clothing stores. That's a healthy number of categories to choose from — though seemingly well selected to eliminate much possibility of spending too much per quarter.

Additionally, you can receive 2% cash back on eligible purchases in your choice of one of the following categories: Grocery stores and grocery delivery, restaurants, and gas stations/EV charging stations. You'll earn 1% cash back on all other eligible purchases.

Read our U.S. Bank Cash Plus Secured Credit Card review

Best Welcome Offer: Discover it® Secured Credit Card

The Discover it® Secured Credit Card is a pretty straightforward cash-back card with few bonus categories that are easy to keep track of. It earns a simple 2% back at gas stations and restaurants on up to $1,000 in combined purchases each quarter (then 1% back). You'll earn 1% cash back on everything else.

This card is exceptionally valuable during the first year of cardmembership, however. Discover will match all the cash back you earn during your first 12 months. That means you'll earn up to 4% cash back at gas stations and restaurants and 2% cash back on all other purchases.

If much of your everyday spending doesn't fall into the bonus categories of the other credit cards on this list, the Discover it® Secured Credit Card is the clear winner for you, as you'll earn no less than 2% back during your first 12 months.

Read our Discover it Secured Credit Card review

Best for Choosing Your Own Bonus Categories: Bank of America® Customized Cash Rewards Secured Credit Card

The Bank of America® Customized Cash Rewards Secured Credit Card, similar to the U.S. Bank Cash+® Visa® Secured Card, allows you to choose your own bonus categories. You'll earn 3% cash back from one of the following categories: Gas, online shopping, dining, travel, drug stores, and home improvement/furnishings.

These are extremely practical bonus categories that powerfully complement the spending habits of most of us. You can change your bonus category once per calendar month, so if you anticipate spending a lot on home furnishings in the coming month, you can prepare for it. You'll also get 2% back at grocery stores and wholesale clubs and 1% back on everything else.

You can further boost your rewards if you're also a member of Bank of America Preferred Rewards. For those with a certain amount of assets in a Bank of America or Merrill account, you could earn between 25% and 75% more cash back — bringing your potential rewards up to a whopping 5.25%.

Read our Bank of America Customized Cash Rewards Secured Credit Card review

Best for Collecting Travel Rewards: Capital One Quicksilver Secured Cash Rewards Credit Card

The Capital One Quicksilver Secured Cash Rewards Credit Card might appear to underdeliver when it comes to earning rewards for everyday spending, especially compared to the other cards on this list. You'll get 5% cash back on hotels and car rentals booked through the Capital One Travel Portal and a flat 1.5% cash back on all other eligible purchases.

However, this card has a secret ability that others do not: You can turn the cash back you earn into valuable Capital One miles at a rate of 1 mile per cent. The key is to also hold a Capital One miles-earning card such as the Capital One VentureOne Rewards Credit Card or the Capital One VentureRewards Credit Card. Per Business Insider's points and miles valuations, Capital One miles are worth 1.7 cents each when you transfer them to airline and hotel loyalty programs such as British Airways, Air Canada Aeroplan, Wyndham, and more.

If your future goals include travel, refrain from cashing out the rewards you earn with this card. Once your credit score is around 700, open a Capital One miles-earning card and combine your rewards. You may instantly have enough for a free trip to just about anywhere.

Read our Capital One Quicksilver Secured Cash Rewards Credit Card review

Best for Dining: U.S. Bank Altitude® Go Visa® Secured Card

The U.S. Bank Altitude® Go Visa® Secured Card is likely your best bet for a meaningful return on spending if you eat out regularly. You'll get 4 points per dollar on dining, takeout, and restaurant delivery. You'll also get 2 points per dollar at grocery stores, gas stations/EV charging, and for eligible streaming services, which include popular platforms such as Amazon Prime Video, Apple TV+, Hulu, Netflix, YouTube TV, and many more.

You'll receive 1 point per dollar for everything else. The points you earn with this card can be redeemed for a flat 1 cent each — meaning this card effectively earns 4% back on dining.

One other benefit of this card (which is excellent for a no-annual-fee credit card) is its annual streaming credit. For each 12-month period that you make a qualifying streaming purchase, you'll automatically receive a $15 credit on your account.

Read our U.S. Bank altitude Go Visa Secured Card review

Secured Credit Card Frequently Asked Questions

Why You Should Trust Us: How We Chose the Best Secured Credit Cards

With little exception, secured credit cards do not provide ongoing benefits that are worth mentioning, since their primary function is to help consumers build credit. The approval requirements are also extremely similar across the board. Therefore, we chose the best credit cards based on each card's earning rate and rewards currency.

Many secured credit cards come with no return whatsoever for spending. The cards on our list not only earn rewards, but they also rival — and even outperform — some of the best no-annual-fee cash back credit cards on the market.

Here's a full breakdown of how we rate credit cards at Business Insider.