November 24, 2022
  • November 24, 2022

The best secured credit cards with a high limit

By on October 25, 2022 0

A secured credit card – which uses a deposit as collateral for a credit line – can help you improve your credit score, whether you’re rebuilding your credit or starting your credit history from scratch. You should know that these credit cards are known to have lower credit limits which means you need to remember to keep your balance on them.

There are, however, some higher limits secured credit cards it might be better for you. Here are a few secured tab options to explore if you want a little more room to move around when it comes to carrying balance on your card.

US-secured Visa card: the best with a high credit limit

  • Credit limit: Up to $ 5,000
  • APRIL: 26.99 percent variable
  • Annual fee: Thread

We like the Visa with US bank security * because there is no annual fee and you have the option to choose your credit limit and payment date. In particular, your credit limit can be anywhere from $ 300 to $ 5,000 – a solid advantage for potential cardholders who have enough funds to provide a higher limit.

Your deposit is held at Insured by the FDIC account and is fully refundable. After at least a year of responsible use, US Bank offers an easy path to transition to unsecured card version.

You simply call customer service and request an account review. If your request is approved, you will receive a new account number and your deposit will be refunded.

Secure OpenSky Visa credit card: the best with a low APR

  • Credit limit: $ 3,000
  • APRIL: 19.64 percent variable
  • Annual fee: $ 35

The Visa® OpenSky® secure credit card offers a comparatively lower regular APR of 19.64 percent, while other cards on this list charge an APR of between 25.49 and 26.99 percent. Moreover, OpenSky Secured Visa offers a credit limit that can go up to $ 3,000 provided you want to walk away with a larger amount of money and you don’t need to check your creditworthiness during the application process.

One downside is that there is no upgrade path to the unsecured version of the card. The only way to “switch” to a regular credit card is to apply for a new credit card from another issuer, which may determine whether or not The secure OpenSky Visa is worth it.

Discover this Secure credit card: the best one for cashback

  • Credit limit: $ 2,500
  • APRIL: Variable 25.99 percent
  • Annual fee: Thread

In addition to offering cardholders the opportunity to: build credit with a secured card no annual fee, Discover it® secure credit card also offers cash prizes. With this card you will get 2% at gas stations and restaurants up to $ 1,000 of total purchases every quarter (then 1%) and 1% back on all other purchases. To sweeten the offer, as a welcome bonus, Discover will match all the money you earned in the first year.

We also like this tab as there is a way to upgrade to the unsecured version, Discover it® Cash Back. After seven months, your account is automatically reviewed to see if you’re eligible.

Citi Secured Mastercard: Best for simplicity

  • Credit limit: $ 2,500
  • APRIL: variable 25.49 percent
  • Annual fee: Thread

The Citi® Secured Mastercard® there aren’t many bells and whistles but it has made the list because of the higher credit limit you can get on that account.

You can open your card for as little as $ 200 or even $ 2,500. And after 18 months of timely payments, you can switch to an unsecured Citi credit card and get your deposit back.

Should you get a credit card with a high limit?

If your credit score isn’t good enough for a traditional credit card to improve your credit, these secured cards can put you on the right path to a better credit score. We do not recommend going this route if you are unable to make the payment on time and as agreed as making late payments or missing payments can damage your credit even more.

Also, if you carry the balance on a secured credit card, not only will you pay interest, but you can also increase yours credit utilization rate. The use of credit is an important factor in maintaining a good credit score.

Lastly, you should be comfortable with a larger deposit to get a higher credit limit. If you don’t mind putting aside $ 1,000 or more for a secured card, this could be beneficial to your credit building journey. If you are unable to part with a large amount of money, you should consider waiting for your financial situation to improve.

How do I choose a secured credit card with a high limit?

Here are some handy features to look out for when choosing a secured credit card.

Possibilities to increase the credit limit or upgrade the card

Some secured credit cards automatically check your credit account and increase the credit limit. It’s not something you need to initiate, but it’s built into the credit issuers’ credit line build-up process.

Even if there is no automatic evaluation, ask if there is an easy way to increase your credit limit. Some publishers may also offer an upgrade path to the unsecured version of your secured credit card.

Low fees

Some secured credit cards may have a number of fees that include annual fees, foreign transaction fees, late fees or even higher interest rates. It’s best if you choose a card with minimal fees to help you save money on this credit building strategy.

Building a loan

Not all secured credit cards will report your activity to credit bureaus. Before you get a secured credit card, make sure the issuer reports your business to a credit reference agency.


While this is not very common in the secured credit card space, there are some secured credit cards that offer cashback and other benefits such as a welcome bonus. They will not be as attractive as the benefits of the standard credit card rewardsbut they can provide an incentive to use your credit card even while repairing your creditworthiness.

The most important thing!

While secured credit cards can be a great tool to build credit, a downside can be from notoriously low credit limits – which can make it difficult to keep your credit utilization rate low. For this reason, we recommend that you consider a credit card with security with a higher limit. However, make sure your secured credit card has other desired features in addition to a higher credit limit, such as lower fees, rewards, and automatic account reviews.

It can also help you compare your selections with other cards on our list best secured credit cardsin case other features grab your attention and turn out to be more valuable.

* Information on US bank backed Visa cards has been compiled independently by The card details have not been checked or approved by the card issuer.