It’s necessary to put down a cash deposit to get a secured credit card, but what happens to that money? In some cases the card issuer will put it into an interest bearing account for the card holder which will be given to them along with the security deposit when they either: graduate to an unsecured card or cancel their secured card. Below is a list of secured cards that allow card holders to earn interest on their security deposit:
- AeroMexico Visa® Secured Card
- LANPASS Visa® Secured Card
- LifeMiles Visa® Secured Card
- Harley-Davidson® Visa® Secured Card
- Navy Federal nRewards Secured Card
- DCU Visa Platinum Secured Credit Card
- Fifth Third Secured Mastercard
- USAA Secured Platinum American Express® Card
- U.S. Bank Secured Visa® Card
- SKYPASS Visa® Secured Card
As you can see this list is littered with some of the cards that we ranked as the best secured credit cards. The only noticeable absentee is BankAmericard® Secured Credit Card, but with interest rates so low at the moment the amount being earned in these interest bearing accounts will likely be pennies.
