Neo Secured Mastercard®
Neo Secured Mastercard® charges a $5 monthly fee that earns competitive returns while rebuilding credit.
Rewards: Earn up to 4% cashback on gas and grocery and up to 1% everywhere else
Welcome Offer: Up to 15% cashback on first-time purchases
Annual Fee: $5 per month
Other Benefits and Drawbacks: An attainable secured credit card with a low security deposit of $50. It has an included Insights dashboard that helps track spending and links to their other financial products, which could be especially helpful for those just getting started on their financial journey.
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Home Trust Secured Visa Card
The Home Trust Secured Visa Card is an ideal choice for individuals who can benefit from lower interest rates.
Rewards: None.
Welcome Offer: None.
Annual Fee: $59
Other Benefits and Drawbacks: Cardholders will only pay 14.90% compared to 17.99 to 19.99% on other secured cards. Lower interest rates are a nice safety net for statements that can’t be paid in full because of an emergency or unplanned expenses. Although, this added assurance might not hold enough value in place of a rewards program offered by competing cards.
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Home Trust Secured Visa Card (No-Fee Option)
The Home Trust Secured Visa Card (No-Fee Option) can offer a safe way for students to establish a credit history.
Rewards: None.
Welcome Offer: None.
Annual Fee: $0
Other Benefits and Drawbacks: Credit limits are set by the security deposit amount to provide more control over spending habits. Any unauthorized charges are covered under the Visa Zero Liability Policy. Interest rates are on the high side of secured cards but only apply when there is an unpaid balance. Purchase or travel insurance would be a welcomed addition.
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Capital One Guaranteed Secured Mastercard®
The Capital One Guaranteed Secured Mastercard offers built-in purchase security and travel insurance for rental cars and baggage delays.
Rewards: None
Welcome Offer: None
Annual Fee: $59
Other Benefits and Drawbacks: Rewards still don’t make the cut, but there are some notable benefits that competitors are lacking. Beyond purchase and warranty coverage, customers also get 60 days of price protection. This service pays the difference on new items that drop in price within 60 days of purchase. An interest-free grace period and basic travel insurance round out the list of impressive features.