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A secured credit card is the best option for individuals who are either new at building their credit or who have bad credit and want to start from scratch to improve it. A secured credit card is essentially controlled by the holder, as they are required to put money on the card that determines their credit line. Unlike prepaid debit cards, these cards enable you to establish or improve your credit history, with activity being reporter to one of the three credit bureaus, TransUnion, Equifax and TransUnion. Here are some of the best secured Visa Credit Cards available.

OpenSky Secured Visa Card

opensky-secured-visa-credit-cardThe OpenSky Secured Visa Card is a great option for people who are either just starting to establish credit or for those who are looking to improve their already existing credit. You can determine your credit line to anywhere from $200 to $3,000. This card carries a 17.64 percent APR rate for purchases and cash advances. You will not be charged interest any higher than $1. The annual fee for the OpenSky Secured Visa Card is $35. The penalty for a late payment is up to $27, while the penalty for returned payment is up to $25. In addition, the penalty APR for late payments is 21.75 percent. During your first billing cycle, there are no interest charges on your purchases.

Wells Fargo Secured Visa Credit Card

wells-fargo-secured-credit-card-reviewThe Wells Fargo Secured Visa Credit Card is good for establishing credit and allows you to eventually be upgraded to an unsecured card if you use it responsibly. It has a $25 annual fee and allows you to establish your own credit line, which is equal to your security deposit toward the card. You can set it to a minimum of $300 and increase it in increments of $100 up to a maximum of $10,000. The APR is 19.24 percent on both purchases and balance transfers. penalty for a late payment or returned payment is up to $37. If you are approved for an unsecured credit card at any point, your security deposit toward this card is refunded.

U.S. Bank Secured Visa Card

us-bank-secured-credit-cardThe U.S. Bank Secured Visa Card helps you to establish credit and comes with a 19.24 percent APR for purchases and balance transfers. Cash advances on the card carry a 24.24 percent rate. You can easily avoid interest on your purchases by making your payments 24 to 30 days after the end of each billing cycle. If there is an interest rate, that charge will not exceed $2. The annual fee for the credit card is $29. You are covered for theft of the card or if you lose it, as there is a zero fraud liability and fraud protection. Do your banking online and get access to customer service on a 24/7 basis. You can even take advantage of U.S. Bank’s FlexControl services, a tool that alerts you to when a payment is due.

These are only a few of the top options of secured Visa credit cards. You can quickly and easily establish your credit and then move on to an unsecured card.