Top 5 Best High-Limit Secured Credit Cards in USA

Secured credit cards have a couple of tricks up their sleeve. Sure, they are a fantastic choice for subprime consumers who need to possess a credit card but can’t (or don’t have any desire to) qualify for expensive unsecured cards that target folks with bad credit.

But secured cards’ other superpower is that several offer initial credit limits much higher than those of unsecured cards. These high-limit secured cards require a huge security deposit, but the card will eventually refund the cash.

Crunch the numbers: Would you rather claim a bad-credit unsecured card with monster fees and a puny credit limit? Or on the other hand a secured card with a refundable deposit, low costs, better perks, and a high credit limit? On the off chance that high-limit secured cards seem like the obvious answer, we invite you to continue reading to find out about the best available.

1. Secured Chime Credit Builder Visa® Credit Card

The Secured Chime Credit Builder Visa® Credit Card is a secured credit card with a credit limit that can go as high as $10,000. Your limit is based on what you transfer over to the secured account. You just need a Chime Checking Account with a qualifying direct deposit of $200 or more to apply.

The card is great for building credit without interest or annual fees, and there’s no credit check to apply. On the off chance that you misplace your card, you can disable it whenever to prevent fraudulent transactions.

2. First Progress Platinum Select Mastercard® Secured Credit Card

Although the initial maximum credit limit on the First Progress Platinum Select Mastercard® Secured Credit Card is $2,000, you can obtain a ultimate credit limit of $5,000 over the long haul. This secured credit card has the intermediate APR and annual charge, and is one of three similar offerings from Synovus Bank of Columbus, Georgia.

3. First Progress Platinum Prestige Mastercard® Secured Credit Card

The First Progress Platinum Prestige Mastercard® Secured Credit Card offers the same initial and ultimate credit limits of $2,000 and $5,000, respectively, as that of the Select version. The First Progress Platinum Prestige Mastercard® Secured Credit Card has the highest annual expense of the triplet but the lowest APR. You might favor this card on the off chance that you will quite often finance balances over multiple billing periods.

4. First Latitude Platinum Mastercard® Secured Credit Card

The First Latitude Platinum Mastercard® Secured Credit Card also comes from Synovus Bank and has the same initial ($2,000) and ultimate ($5,000) credit limits as the bank’s similar cards listed previously. It offers cash back rewards and the lowest initial credit limit — $100 — available from any secured card.

5. OpenSky® Secured Visa® Credit Card

The OpenSky® Secured Visa® Credit Card is a decent decision for subprime consumers who need to stay away from a credit check. You can deposit $200 to $3,000 to establish your credit line. This secured Visa credit card limits cash advances to 50% of your security deposit. After the account has been open for one year, you might request a decrease in your credit limit to an amount as low as $200. This Visa secured card requires an annual charge and does not repay cash rewards.