Best Secured Credit Cards for Young People: Top 5 Ranked by Cash Balancer

No credit history? Most regular credit cards will turn you down. A secured credit card is the easiest way in — and if you use it right, you can have a solid credit score within a year. This guide covers:

• What a secured credit card is
• How it builds your credit
• How to use one without paying interest
• Cash Balancer's top 5 secured cards for young people

What Is a Secured Credit Card?

• A credit card backed by a deposit you put down.
• Your deposit usually sets your credit limit — put down $200, get a $200 limit.
• It works like a normal card at stores and online.
• The card company reports your payments to the credit bureaus, which builds your history.

How It Works

1. Apply and pay your deposit. Many cards don't need a credit check.
2. Use it for small, planned purchases. A phone bill or groceries works well.
3. Pay the full balance every month. On-time payments are the biggest part of your score.
4. Graduate. After 6–12 months of on-time payments, many cards return your deposit and move you to a regular card.

How to Build Credit Fast (and Free)

Habit	Why it matters
Pay on time, every time	Payment history is about 35% of your FICO score
Use under 30% of your limit	Lower usage raises your score — under 10% is best
Pay the full statement balance	You pay $0 in interest
Keep the card open	A longer credit history helps your score

Best Secured Credit Cards for Young People, Ranked by Cash Balancer

• Ranked on cost, how easy they are to get, and online ratings.
• Track your progress with a free credit score tool.
• Terms change often, so check each card before you apply.

Rank	Name	Rating
1	Cleo Credit Builder	★★★★★ 5/5
2	Discover it Secured	★★★★★ 5/5
3	Capital One Platinum Secured	★★★★½ 4.5/5
4	Chime Card	★★★★ 4/5
5	Capital One Quicksilver Secured	★★★★ 4/5

1. Cleo Credit Builder — ★★★★★ 5/5

Cleo Credit Builder pros:

• No hard credit pull to apply
• Deposit as little as $1
• No interest
• Reports to all three credit bureaus

Cleo Credit Builder cons:

• Subscription fee required

2. Discover it Secured — ★★★★★ 5/5

Discover it Secured pros:

• $0 annual fee
• Cash back matched at the end of your first year
• Free FICO score
• NerdWallet's best card for building credit every year since 2018

Discover it Secured cons:

• $200 minimum deposit

3. Capital One Platinum Secured — ★★★★½ 4.5/5

Capital One Platinum Secured pros:

• $0 annual fee
• Deposit can start at $49 for a $200 credit line

Capital One Platinum Secured cons:

• No rewards

4. Chime Card — ★★★★ 4/5

Chime Card pros:

• No credit check, no annual fee, no interest
• No minimum security deposit
• Reports to all three credit bureaus
• 5% cash back on a category you choose, with qualifying direct deposit (formerly the Chime Credit Builder card)

Chime Card cons:

• Requires a Chime checking account

5. Capital One Quicksilver Secured — ★★★★ 4/5

Capital One Quicksilver Secured pros:

• $0 annual fee
• 1.5% cash back on every purchase

Capital One Quicksilver Secured cons:

• $200 minimum deposit

Which One Should You Pick?

• Can't spare a deposit? Choose one with a $1 or no minimum deposit.
• Want rewards? Choose a card with cash back.
• Want to avoid monthly costs? Choose a $0 annual fee card with no subscription.
• Ready for a regular card? See the best credit cards for young and new users.

Already carrying card debt? Use the free debt calculator to see what it's costing you, and read how credit card interest works.

The Bottom Line

• A secured card is the easiest first step to building credit.
• Pay in full every month and keep usage low.
• After 6–12 months, move up to a regular card.

Sign Up Links

• Cleo Credit Builder
• Discover it Secured
• Capital One Platinum Secured
• Chime Card
• Capital One Quicksilver Secured

Disclosure

Cash Balancer uses online reviews from multiple sources, including customers and online review sites. Star ratings are a mix of multiple online reviews, news, and the founder's opinion across all factors. Fees, limits, and features change often, so check each company's current terms before you sign up. The founder of Cash Balancer is an employee of Cleo. Cash Balancer may also receive compensation from companies for articles and posts. Cash Balancer discloses which companies pay for articles; if there is no such disclosure, the post reflects the opinion of Cash Balancer and its founder, with no input from the companies.