The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Yes, the TD Cash Secured Credit Card is not the cheapest offer on the market. It is possible to find secured credit cards with $0 annual fee and a relatively low security deposit. For example, the First Latitude Assent Secured Mastercard® has no annual fee and requires a $200 security deposit.

Another option you may like is the secured Chime Visa® Credit Card. With this card you won't pay any interest or annual fee, and there is no minimum security deposit required. However, you will need to open a Chime® Checking Account to apply for the Chime Card.

When you open a secured credit card, your security deposit works as collateral. Plus, your credit limit is usually equal to the deposit you put down. Some credit card issuers may extend higher credit limits while requiring lower security deposits if they consider you creditworthy enough. When you close or upgrade your secured credit card, you will get your deposit back (provided it hasn't been used).

tags : Credit Cards Secured Cards

Disclaimer: This editorial content is not provided or commissioned by the banks or credit card issuer(s). Opinions expressed here are the author's alone, not those of the banks or credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the banks or credit card issuer(s). Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult with the issuing bank of the card or account for terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are accurate as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.