After a bankruptcy discharge or a major financial reset, the traditional banking system often shuts the door. You apply for a card, and the algorithm instantly rejects you. This cycle is frustrating, but there is a backdoor: Secured Credit Cards.
Think of a secured card as "training wheels" for your credit score. You put down a cash deposit (usually $200), and that deposit becomes your credit limit. Because the bank holds your money as collateral, they are willing to approve you even with a bankruptcy on your record.
However, not all secured cards are created equal. Some charge predatory fees; others help you "graduate" to an unsecured card in as little as 6 months. We evaluated the top cards of 2025 based on Fees, Reporting (do they report to all 3 bureaus?), and Graduation Speed.
Quick Comparison: Top Picks
| Card Name | Best For | Min Deposit | Annual Fee |
|---|---|---|---|
| Discover it® Secured | Rewards & Cash Back | $200 | $0 |
| Capital One Platinum | Low Deposit | $49, $99, or $200 | $0 |
| OpenSky® Secured Visa® | NO Credit Check | $200 | $35 |
| Chime Credit Builder | Safety (0% Interest) | None* | $0 |
| Self. Credit Builder | Forced Savings | $25/mo (Loan) | $25/yr (Admin) |
| Mission Lane | Unsecured Option | $0 | $0 - $59 |
Detailed Reviews
1. Discover it® Secured
Top Pick: RewardsThis is rare: a secured card that acts like a premium card. It offers 2% cash back on gas and restaurants (up to $1,000/quarter) and matches all your cash back at the end of the first year. More importantly, Discover is famous for its "Graduation" speed. Starting at month 7, they automatically review your account to see if they can return your deposit and switch you to an unsecured card.
The Good
- ✔ Earns real cash back rewards.
- ✔ Clear path to "unsecured" (deposit returned).
- ✔ No annual fee.
The Bad
- ✘ Hard pull credit check required.
- ✘ High APR (standard for secured cards).
Pricing
Min Deposit: $200 | Fee: $0
2. Capital One Platinum Secured
Best For Low DepositIf you are tight on cash, this is your winner. Capital One is unique because they offer a "tiered" deposit system. Based on your credit, you might be allowed to put down a deposit of only $49 or $99 to get a $200 credit limit. That is essentially a partially unsecured line of credit.
The Good
- ✔ Lowest deposit requirement ($49).
- ✔ Automatic credit line increase reviews in 6 months.
- ✔ No annual fee.
The Bad
- ✘ No rewards (no cash back).
- ✘ Hard pull credit check required.
Pricing
Deposit: $49-$200 | Fee: $0
3. OpenSky® Secured Visa®
Best For Recent BankruptcyIf you were rejected by Discover or Capital One, OpenSky is your safety net. It does not require a credit check. They do not pull your credit report, which means your score (or recent bankruptcy) is irrelevant. As long as you have the deposit money and income, you are generally approved.
The Good
- ✔ NO Credit Check (Hard Pull).
- ✔ Almost guaranteed approval with deposit.
- ✔ Reports to all 3 credit bureaus.
The Bad
- ✘ $35 Annual Fee.
- ✘ No clear path to graduation (you usually have to close it to get deposit back).
Pricing
Deposit: $200 | Fee: $35/yr
4. Chime Credit Builder
Best For SafetyChime takes a different approach. You move money from your Chime Spending Account to your Credit Builder card. That money becomes your limit. When you spend it, the money is already there to pay it off. Because of this mechanism, there is 0% Interest and no risk of going into debt.
The Good
- ✔ No credit check to apply.
- ✔ No interest and no annual fees.
- ✔ Impossible to overspend/miss payments if using "Safe Credit Building."
The Bad
- ✘ Must have a Chime Checking Account with Direct Deposit.
- ✘ Doesn't "graduate" to an unsecured line.
Pricing
$0 Fee | 0% Interest
5. Self.
Best For Forced SavingsSelf isn't a traditional card; it's a Credit Builder Loan. You pay Self a monthly amount (e.g., $35) for 24 months. They hold that money in a CD (Certificate of Deposit). They report your payments to the bureaus as a loan. At the end, you get your money back (minus interest/admin fees). It builds credit history without the temptation to spend.
Pricing
$9 Admin Fee + Monthly Interest
6. Mission Lane Visa®
Best Unsecured OptionIf you hate the idea of a deposit, Mission Lane is an unsecured card designed for fair/rebuilding credit. You might get a lower limit ($300-$500) and pay an annual fee ($0-$59), but you don't have to lock up $200 cash.
Pricing
$0 Deposit | $0-$59 Fee
How to Choose: The Decision Framework
Stuck between these options? Use this logic to decide.
Hard Pull vs. No Credit Check
If you filed bankruptcy less than 2 years ago, a "Hard Pull" might result in rejection. Play it safe.
- Safe Bet OpenSky or Chime. They do NOT check your score. Guaranteed approval if you have funds.
- Growth Bet Discover or Capital One. They check your score, but they offer graduation. Use these if your discharge was 2+ years ago.
Frequently Asked Questions
When will I get my deposit back? ▼
It depends on the card. Discover reviews your account starting at month 7. Capital One reviews at month 6. For OpenSky, you generally only get it back when you close the account and pay off the balance.
Do secured cards say "SECURED" on them? ▼
Usually, no. The physical card looks identical to the unsecured version. The cashier or bartender won't know the difference.
Does the credit limit matter for my score? ▼
Yes. A higher limit helps your "Utilization Ratio." If you have a $200 limit and spend $100, you are at 50% utilization (which hurts your score). If you deposit $500, that same spending is only 20% utilization (which helps).
Conclusion: Your Rebuild Starts Here
If you want the best card on the market and can pass a credit check, get the Discover it® Secured. It pays you to rebuild.
If you need guaranteed approval today without a credit check, get OpenSky.
Whatever you choose, remember: the card is just a tool. Use it to buy one tank of gas a month, pay it off in full, and watch your score climb.