Secured Credit Cards

Compare a variety of secured credit cards with guaranteed online approval!

Secured credit cards are credit cards secured in advance by funds provided by the applicant. These cards are also known as “prepaid credit cards” (pre-paid credit cards), “debit cards” or “stored value” cards. In practice, money is placed into your account in advance, serving as a "guarantee" that you will handle your credit account responsibly. When you go out and use the card, the bank simply withdraws the funds from your account.  When your balance reaches $0, you must ‘re-charge” your account by adding additional funds. This way, you’ll never have any problems with spending more money than you can afford, and you avoid costly interest charges.

Secured credit cards are typically required for people who have no credit, bad credit or poor or damaged credit histories, and can help people build, re-build or re-establish their credit report which may have resulted from previous defaults, bankruptcy, collections, repossessions, etc. These cards are also good for younger people, such as college students, who seek the convenience and prestige of carrying a MasterCard or Visa credit card, but also need to watch their budget closely.

The Executive Plus Prepaid MasterCard® Card, First PREMIER Card, and Orchard Bank MasterCard® from HSBC are among the most popular secured credit cards, designed for those who need to re-establish their credit or are in the early stages of building credit. The Orchard Bank Card from HSBC (formerly Household Bank) helps you establish or re-establish your credit, while providing you with numerous benefits like generous initial credit limits, periodic reviews for credit limit increases, competitive interest rates, complimentary online bill payment, and more.

First PREMIER Bank specializes in credit cards for rebuilding credit, and offers several other cards, First PREMIER Gold MasterCard, Centennial Gold Card, and the Centennial Card. These card offers are available for consumers with poor credit or no credit, and can also be considered by students, who need to start building their credit history. Along with attractive benefits like competitive interest rates, students can access special low interest loans, 24-hour online account access and more. Among PREMIER Bank's offerings include unsecured credit cards - available as a Visa or MasterCard, which helps repair your credit by reporting monthly to up to four major credit bureaus.

As you review the various secured credit card offers compiled here, you will see how fast and easy it is to get the card you need – many of the cards have guaranteed instant online approval!

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