Rates Current as of Sunday September 24, 2017

Best Secured Credit Cards

Find a list of the best secured credit cards available today. Compare the best secured credit card offers, read secured credit card reviews and find professional ratings on the card promotions.

Numerous banks offers secured credit cards, the key is to find the best secured credit card to fit your needs. The Bestcreditcardrates.com database displays secured credit cards that are offered from major banks and large credit card issuers as well as tips for finding the best card with the best credit card rate.

Secured credit cards are designed for consumers looking to reestablish credit or build their credit for the first time. There are a variety of secured credit cards with different options and credit card interest rates that are very good options for consumers to establish or rebuild their credit history.

The best secured credit cards have the lowest credit card rates and charges, report to all three major credit bureaus and offer additional options to account holders. Search and choose among the top secured credit card offers by comparing rates, terms and options quickly and easily.

* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the - Apply Now - button, you can review the credit card terms and conditions on the issuers website.

DCU Secured Credit Card

DCU secured credit card

The DCU Visa Platinum secured credit card is one of the best credit cards available in the secured credit card category based on the rates and fees associated with the card.  The credit card is issued by Digital Federal Credit Union based in Massachusetts.  Membership in the credit union is required to apply and obtain the credit card.

This secured credit card is a top ranking card due to the very low interest rates for purchases, balance transfers, and cash advances.  The current credit card rate on the DCU Visa Platinum Secured Credit Card is 11.50 percent for all three transaction types.  The credit card rate is a variable rate, tied to the Prime Rate, and can change monthly.

There is no annual fee for the DCU secured credit card nor is there a balance transfer fee or cash advance fee.  The card is compatible with Apple Pay and comes with a host of standard credit card features including free auto rental collision damage waiver, extensive Visa travel services, and extended warranty on most purchases.

There is a minimum deposit of $500.00 needed as collateral for the secured card.  Account holders will earn interest on the deposit although; the current rate is very low.

Account holders will have their payment history reported to all three major credit bureaus, allowing customers to rebuild or establish a credit history if they use the credit card responsibly.  For consumers are looking to establish or improve their credit history, this card is a great way to get started with low, low costs. 

DCU is one of the largest credit unions in New England serving over 450,000 members across all 50 states.  DCU offers a full range of financial services to consumers and businesses, including banking, lending, financial management, insurance and realty.

More information about the credit union and the DCU Visa Platinum secured credit card can be obtained by visiting the institutions web site at dcu.org or by calling the DCU customer service number at 800.328.8797.

Reasonable efforts are made to maintain accurate information reading all credit card offers.  However all credit card information is presented without warranty.  Review the online credit card application for details about current credit card terms and conditions.

Bestcreditcardrates.com presents this credit card review along with additional tools and resources to help consumers research the best credit card offers with the best credit card rates available.

How a Secured Credit Card Works

Consumers shopping and comparing the best secured credit cards should start with a good understanding of how secured credit card works.  Secured credit cards operate the same as standard credit cards with one notable exception.  Secured credit cards require the payment of a minimum deposit as collateral to open the account.

The deposit acts as collateral for the credit card company in the event that the account holder defaults on their payments.  Most credit cards companies will use the deposit amount to establish the maximum credit card limit on the account and then operate the credit card like a standard credit card.  Some banks pay interest on this deposit, as if it were a standard savings account at the bank.

The secured card will not have any special features that identify it as a secured credit card; it will work just like a regular credit card.  Just like a normal credit card, secured credit card holders are expected to pay the credit card payments for a secured credit card balance on a monthly basis.

Signing up for a new secured credit card can be very easy because the risk of loss for the credit card company is limited.  Often, credit card applicants can get instant approval for secured credit card online.  Secure credit cards have a very high approval rate.

With some credit card companies, if the account holder manages their secured credit card prudently, the bank may choose to increase the credit limit without requesting additional deposits.  In addition, once a secure credit card holder has built up a strong credit history, they are increasing their chances of being approved for a standard unsecured credit card.

Since these credit card are geared towards consumers with less than perfect credit, credit card rates and credit card fees are a critical factor.  The range of credit card rates and credit card fees offered on these cards can be substantial. 

Secured credit cards are a good alternative for consumer to start building their credit history. Consumers who are shopping for a bank secured credit card generally have a limited or no credit history and do not qualify for a standard bank credit card.  A secured credit card will offer very little incentives to a consumer who can qualify for an unsecured credit card.

Consumers can use a secured credit card to start building their credit history and improve their credit score.  A key aspect with regards to establishing a good credit history with a secured credit card is to make sure the credit card issuer reports the payment history to the three major credit reporting companies.  By establishing a credit history with a secured credit card, an individual can boost their credit score and obtain access to credit without running a high risk of default.

Since there are different variations of secured credit cards with a range of fees and rates, it’s important to read the individual terms and conditions for the card before filling out the credit card application.  For consumers searching for a secure credit card, refer to the secure credit card listings at securedcredit cards and for those consumers that believe they may qualify for something other than a secured credit card, refer to the listing of credit cards that includes; low interest credit cards, cash back credit cards, rewards credit cards, prepaid credit cards, balance transfer credit cards and credit cards for bad credit.