Here is a useful article from Bethany at Quizzle.com:

The time has come to look into applying for a secured credit card. I’m learning one of the downsides to not having credit or low credit, is that no one trusts me to borrow money. Batting my eyelashes and pinky-promising to pay back the creditors doesn’t seem to work as well with them as it does with Dad. Who knew? To them, I’m a financial risk. They don’t have a clue whether I’ll pay back the money owed or not. At least my Dad has 22-years of history to base it on. To the other guys, I’m a huge financial risk. Much like my Dad, credit card issuers go off proven, responsible action. Well, it’s time to take that action.

But first: What’s a secured credit card?

Secured Card 101

A secured credit card is meant for people like me. Users who are 20-somethings with low credit, or people looking to rebuild their credit. The money (unlike a regular credit card) gets deposited into an account. This guarantees a line of credit to the bank. I’m looking for a secured card mostly to make small, regular payments that can be easily paid in full every month. These on-time payments will get reported to the credit bureaus and help boost my credit score.

First Progress Platinum Prestige Secured MasterCard (had most stars)

– Deposit of $300-$2,000 submitted with application, refundable when card closes

– Reports to all 3 major credit bureaus

– No credit history needed

– 11.99% Purchase APR

– Annual fee $44

First Progress Platinum Select MasterCard Secured Credit Card

– Deposit of $300-$2,000 submitted with application, refundable when card closes

– Reports to all 3 major credit bureaus

– 24/7 online access

– 14.99% Purchase APR

– Annual fee $39

First Progress Platinum Elite MasterCard Secured Credit Card

– Deposit of $300-$2,000 submitted with application, refundable when the card closes

– Reports to all 3 major credit bureaus

– 19.99% APR

– Annual fee $29

I still need to plan a card budget, weigh my options, and make a final decision before I apply for any of these secured cards. For me, one of the most important things to consider in a secured card is determining how much of a deposit (this will also be my monthly card limit) I want to make.

And finally: here is a link with some secured credit cards that you might find helpful.

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