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The concept followed by a secured credit card is simple—spend the amount that you are capable of. The cards basically have a balance amount that is deposited by you. For example, you may deposit a balance of $100 and this becomes your credit card limit. Apart from being of help during an emergency, secured credit cards also help restore a good credit score in your favor. Moreover, it is a known fact that building a good credit score takes efforts. Hence, it is imperative that you start with a secured credit card before applying for other credit cards.

Find below four best secured credit cards in 2018 that you may count on to improve your bad credit or gain immense perks from.

• Capital One® Secured Mastercard®
  • Pros
    With a deposit of as low as $49 or $99, you are eligible to get a secured credit card limit of $200, depending on your credit.
  • Cons
    It is necessary for you to have a checking or savings account, without which, you won’t qualify to be a cardholder.
• Discover it®Secured
  • Pros
    The secured card has various perks such as cash back on gas, restaurants, and more. It evaluates the cardholder’s account to check if they are eligible for an unsecured card, after eight months. The biggest advantage is the $0 annual fee.
  • Cons
    Its maximum credit limit is $2,500, which may not be enough for many cardholders.
• OpenSky® Secured Visa® Credit Card
  • Pros
    The deposits can be refunded by the end of the credit tenure becomes the card holder’s limit which starts from $200 and goes up to a maximum balance of $3000.
  • Cons: Opensky Secured Visa Credit Card does not allow the transition of a secured card to an unsecured card.
• US Bank Secured Visa® Card
  • Pros
    The biggest benefit of the US Bank Secured Visa Card is its easy approval of applicants who have a low credit score and the longer grace period of 30 days to pay the credit money.
  • Cons
    The annual fee, late payment fees, and other such expenses are relatively high.

In a nutshell, considering each card has its set of positives and negatives, even if you pick one of the best secured credit cards to create a healthy credit score, ensure you go research well and opt for the one that suits your requirement.