5. Capital One Secured Master Card
Score: 10 points;
Card Rate’s rating: 5.0 stars (5 points);
Credit needed: bad credit (3 points);
Initial credit line: $200 (1 point);
Required security deposit: $49 – $200 (-2 points);
Annual fee: $0 (2 points);
Processing fee: $89 (1 point);
The Capital One card is the only secured card on the list that is being issued by the popular credit company. The card doesn’t offer too many features, but it reports your dealings to all three credit bureaus on a regular basis. Since this is a secured card, it requires you to pay the deposit. The deposit amount depends on your credit score, and it can range from $49 to $200 for the initial credit line of $200. After five regular payments, you can apply for a higher credit line, without paying an additional deposit.
Goran Bogicevic/Shutterstock.com
