We know what building good credit takes time. Start with a secured card, use it wisely, and your score will improve!
Choosing the right secured credit card is not easy. There are many blogs and websites offering free financial tools. At Rental Kharma, we help individuals build their credit and help you research financial products and companies.
We DO NOT receive any compensation, commission or payment for recommending these companies or their credit cards.
1. Best for low deposit
Capital One® Secured Mastercard®
Annual fee: $0
Ongoing APR: 24.99%, Variable
No annual fee, and all the credit building benefits with responsible card use
Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureau
You will get an initial $200 credit line after making a security deposit of $49, $99, or $200, determined based on your creditworthiness
Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed
Easily manage your account 24/7 with online access, by phone or using our mobile app
It’s a credit card accepted at millions of locations worldwide
2. Best for rewards and upgrading
Discover it® Secured Card – No Annual Fee
Annual fee: $0
Ongoing APR: 24.24%, Variable
No Annual Fee, cash back on every purchase, and helps you build your credit with responsible use.
Your Secured Credit Card requires a refundable security deposit up to the amount we can approve of at least $200 which will establish your credit line. You will need to provide your bank information when submitting your security deposit.
We will automatically begin reviewing your account starting at 8 months to see if we can transition you to an unsecured line of credit.
Earn 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all your other purchases
Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
Receive FREE Social Security number alerts-Discover will monitor thousands of risky websites when you sign up.
3. Best for bad credit or no bank account
OpenSky® Secured Visa® Credit Card
Annual fee: $35
Ongoing APR: 18.64%, Variable
No credit check necessary to apply. OpenSky believes in giving an opportunity to everyone.
The refundable* deposit you provide becomes your credit line limit on your Visa card. Choose it yourself, from as low as $200.
Build credit quickly. OpenSky reports to all 3 major credit bureaus.
99% of our customers who started without a credit score earned a credit score record with the credit bureaus in as little as 6 months.
We have a Facebook community of people just like you; there is a forum for shared experiences, and insights from others on our Facebook Fan page. (Search “OpenSky Card” in Facebook.)
OpenSky provides credit tips and a dedicated credit education page on our website to support you along the way.