Secured credit cards are meant primarily for one single purpose and that is to rebuild credit. In this article you will get to know about those secured cards which are in ranking top ranked. This article specifically focuses on top 10 secured credit cards, their ranking and necessary information relevant to them is given.
Top ten secured cards List:
|Sr. No||Name of secured card||Issued by|
|1||Navy Federal Credit Union nRewards||Navy Federal Credit Union|
|2||USAA Secured Credit Card||United Services Automobile Association|
|3||Discover it Secured Credit Card||Discover|
|4||Citi Secured Mastercard||Citi Bank|
|5||Capital one secured mastercard credit card||Capital One Bank|
|6||Wells Fargo Secured Card||Wells Fargo|
|7||Bankamericard secured visa credit card||Bank of America Corporation|
|8||US Bank Secured Visa card||US Bank|
|9||Aero Mexico visa Secured Card||US Bank and Aero Mexico|
|10||Harley-Davidson Visa Secured Credit card||US Bank and Harley-Davidson|
10. Harley-Davidson Visa card:
Harley-Davidson visa secured credit card is first that comes under discussion and is enlisted as tenth most secured and best one. This is one of the best credit card issued by Bank of United States. It does not make any difference if you are not much into motorbikes, you must watch it and I am sure you will definitely like it. Neither Harley- Davidson card carries any balance nor does it have any cost for it. Along with all this other exciting things about it are that its annual fee is absolutely zero and APR is a variable 22.99 %. Security deposit varies from $300 to $5000 for it and you can definitely earn very exciting and excellent interest on it as well. Payment history of it follower is reported to all the three very main credit bureaus and in this way user can maintain credit if he is little bit responsible.
9. Aero Mexico Visa Card:
Next one that I enlisted as ninth most secured among top ten most secured credit cards is Aero Mexico Visa Secured Card. Just like our formerly discussed card this one is also issued by United States Bank. United States Bank has credit of issuing few other most secured one as well just like Lanpass Visa Secured Card Skypass visa secured card and LifeMiles visa secured card. Aero Mexico Visa Secured Card has $25 annual fee but it is temporarily delayed for first year after its use and APR is a variable 16.24 %. Security deposit for it ranges from $300 to $5000 and user can entertain excellent interest on it as well.
8. US Bank Visa Card:
US Bank Secured Visa Card is another one in the list of most secured credit cards and is considered as eighth most best card to rebuild credit. US Bank Credit Card has annual fee of about $35 every year and after using it for one whole year it will be labeled as unsecured card to rebuild credit. And variable rate which user can get on it is 20.99 %. And when we talk about security deposit range of US Bank visa card it is absolutely same like other US bank issued credit cards and that is $300 to $500 and just like all other credit cards, user can get very excellent interest on it as well. US Bank issued its user complete credit history to all the three leading credit bureaus which is helpful for user to manage credit.
7. Bankamericard Visa credit Card:
When we talk about secured cards rating next name that comes in mind is Bankamericard Secured Visa Card and it is enlisted as seventh best one among top ten secured cards. It is considered as completely and confidently secured one that shows that credit limit on it and security deposit amount matches to each other. Security deposit range on Bankamericard Secured Visa Credit Card is $300 to $4900 and unhappiest thing about this it is that there is no interest earning on it. Just like all other previously discussed secured cards this card also reports its user’s payment history to main credit bureaus and if it does not happen then it’s not possible for user to rebuild credit so it’s quite good for this sake. And variable rate which user can get on it is 20.24 %.
6. Wells Fargo credit Card:
Next one that is enlisted as best secured credit card to rebuild credit is Wells Fargo Secured Credit Card and in rating it is sixth most secured card. It has few eligibility restrictions like you will not be considered as liable for this if in previous year you were bankrupt or you have possession of unsettled liens. Amazing thing about Wells Fargo Card is you can qualify for when you are 18 until and unless you are not resident of Alabama where age limit required is 19 and in Mississippi required age for qualifying is 21. Now comes to security deposit and security deposit for Wells Fargo is $300 to $10,000 and which is referred as “collateral account”. APR variable rate which consumer can get with it is 18.99% which is pretty good.
5. Capital one mastercard credit card:
In rating of best secured credit card to rebuild credit next one that comes is known as Capital one secured mastercard and comes on fifth position in list of top ten secured credit cards. Capital one’s annual fee that consumer is bound to pay annually is $29 per year and variable rate which one can get on Capital one secured card is 22.9 %. Amazing favor which Capital one offers to its consumers is zero charges on any foreign transaction. Yes if you are suppose to travel overseas in coming time and you have limited credit then Capital one secured mastercard credit card is the best choice in this case.
4. Citi Mastercard:
Next in my list of top ten secured credit cards is Citi Secured Mastercard and in rating it is fourth best one among all others to rebuild credit. Annual fee that one has to pay in every year is $29 an APR variable rate when user can get is 18.24 %. When we come to security deposit point then it operates little bit in different manners. Security deposit ranges from $200 to $5000 and Citibank invests its users deposit in 18 month (CD) savings account where you can get on your deposit 1.01 annual percentage yields and this is difference in this and others. And Citi Secured Mastercard has foreign transaction fee and that is 3 %.
3. Discover it:
Next good secured credit card which I would like to discuss is Discover it Secured Credit Card and it is in rating third most secured in rating of top ten secured credit cards. If someone applies online for “Discover it card” and do not receive a positive response at this moment that person gets an offer to qualify for secured card. On the basis of user’s payment history and creditworthiness of one complete year a person might be able to graduate to an “unsecured Discover it card” and can get back his/her deposit as well. So this is the best fact about Discover it card that you can enjoy same reward as of the unsecured credit card. And you won’t have to pay any annual fee as well. APR variable rate that customer can get with this is 22.99 %.
2. USAA Credit Card:
So here comes another good and best one that is USAA secured Credit Card and in ranking of top ten list it attains second position among them. But sad and unfortunate fact about USAA card to qualify for it you have to be in military forces or having terms with someone who is connected to military. When you qualify for it then comes security deposit point and security deposit for USAA starts from$250 and ends with $5000. And APR variable 9.9% you can get with this very card. Although military oriented person and their relatives are eligible for it but some of these USAA’s financial products are given to them as well who join it.
1. Navy Federal Credit Union nRewards:
Which secured credit card attains first position in ranking among top ten list?
Secured card which is considered as top ranked and good to rebuild credit is Navy Federal Credit Union nRewards. One sad thing about this card is just like previous one you are eligible for this card only and only if you have any sort of connection with military either you yourself are serving or you are related to one who is serving in military. And you can get variable 8.99% APR with Navy Federal card along with all this there are no annual charges on it. And when we talk about interest which consumer earns while using it, it varies and is not fixed it depends on credit score of user.
So, here comes an end of this topic and I am sure everything that is of worth importance as far as this topic (top ten secured credit cards) is concerned is mentioned in the article. APR, annual charges, security deposits range etc are discussed what else one wants to know about this topic.