Man and a woman in the outdoors, images of Visa credit cards

Secured Credit Cards

Secured credit cards help you establish or reestablish your credit.

Contact Us

Secured Credit Card Rates as Low As

APR Effective 2/1/2024*

13.24
%
APR

Low Rate Credit Card

Variable Rate

*See important information about rates, fees and other costs

What Are Secured Credit Cards?

A secured credit card looks and operates like a regular credit card. The difference is that it requires a cash security deposit that the lender “holds” to secure the funds. They're an ideal way for people to build credit or reestablish a credit history.1

Features & Benefits | Who's it For? | How they work | How to Apply | FAQs | Related Content

Features & Benefits

  • No monthly or annual fees2
  • Approval is often easier (although not guaranteed)
  • Can help you establish or re-establish good credit history
  • May improve your credit score

Who's it For?

Anyone can apply for a secured credit card, but it's best for people with little to no credit history. They're ideal for building credit, and a great first step to take when trying to get a credit score that will help you get approved for larger forms of credit down the road, such as a home loan, personal loan, auto loan, or another credit card with a higher limit. 

How Do Secured Credit Cards Work?

Secure credit cards are just like any other traditional credit card. The most important and critical piece to remember, though, is factoring in the aforementioned security deposit.

A security deposit does not mean a cache of money you can draw upon to make your monthly payments. Instead, think of it like the deposit you give your landlord when you rent an apartment.

How to Apply

To apply for this card, you'll need to call us directly at 844-232-8562 or stop by a BECU Location.

Compare BECU Secured Credit Cards

No matter which card you choose, all BECU cards offer great benefits that are designed to directly benefit you, the member, not our bottom line.

Secured Low Rate Credit Card

  • Rates as low as 13.24% variable APR
  • No annual or cash advance fees
  • Choose from four card design options

Secured Cash Back Credit Card

  • Rates as low as 16.24% variable APR
  • Unlimited 1.5% cash back3
  • No annual or cash advance fees
  • Choose from four card design options

Balance Transfers

Transfer high-interest debt to your BECU credit card with just a few clicks in Online Banking.3

Frequently Asked Questions

  • Unsecured cards are traditional credit cards that rely on a cardholder having an established credit history and do not require a security deposit.
  • Secured cards are credit cards that require a security deposit and have lower credit limits than other cards. More detailed information is in the article above.

Yes. Secured credit cards can help improve your credit score. Using a credit card regularly and making payments each month helps you establish or rebuild your credit. Your secured credit card usage is reportable to credit bureaus (Equifax, Experian and TransUnion) and is factored into your overall credit score.

Yes! You always need to make a monthly payment any time you have a charge to your credit card. The security deposit is not to be used for regular payments.

Yes! The security deposit on your secured credit card is fully refundable once the applicant qualifies for and receives a traditional credit card.

Yes. To car rental agencies, the secured credit card is just a credit card.

$250 - $10,000

Similar to a traditional credit card, a missed payment with a secured credit card will result in a late fee, plus additional interest charges. Missing payments may also negatively impact your credit score.

$250 - $10,000 depending on credit limit

Have more questions?  Contact us at 844-232-8562 or stop by a BECU Location to talk to a Member consultant.

Related Content

 

1Approval subject to BECU membership, credit approval and other underwriting criteria; not every applicant will qualify. Credit Card programs, services, rates, terms and conditions are subject to change without notice. Contact BECU for the most current information. Your APR will vary with the market based on the Prime Rate. Please refer to the Credit and Security Agreement for the terms and conditions, fees, and charges, and other information regarding your credit card account. A secured credit card requires a collateral deposit equal to the approved credit limit. The funds will be held in an interest-bearing savings account with BECU and will be refunded to the cardholder upon voluntary closure of the credit card or if the secured credit card is replaced by a traditional BECU credit card product. The funds used to secure the collateral may be used to pay off any balance owed on the secured credit card in the event you default the account.Approval subject to BECU membership, credit approval and other underwriting criteria; not every applicant will qualify. Credit Card programs, services, rates, terms and conditions are subject to change without notice. Contact BECU for the most current information. Your APR will vary with the market based on the Prime Rate. Please refer to the Credit and Security Agreement for the terms and conditions, fees, and charges, and other information regarding your credit card account. Other fees may apply.

2BECU's credit card rates in effect as of 9/1/2023 range from 13.24% to 27.24.% variable APR and are subject to change without notice. The actual APR will be determined when you apply and will be based on your credit worthiness.

3Cash advances and cash like transactions do not qualify as purchases.

4It may take up to 7-10 business days to post balance transfers, so you may need to make payments to your other account(s) to keep them current. Balance transfers cannot be used toward amounts you owe BECU and will not earn reward points or cash back. You may not make Balance Transfers payable to cash, to you, to any individual, to a deposit account, or to any BECU loan account and, if you do make any such Balance Transfer request, BECU reserves the right to convert the transaction to a Cash Advance. BECU may decline one or more requests in whole or in part. Balance transfers are contingent upon the available credit on your credit card account. In the event that your requests exceed the amount we approve to process, we will fulfill your requests in the order provided in your response. We are not obligated to fulfill a request if any part of the request would exceed your credit limit. BECU does not charge Balance Transfer fees. We will apply minimum payments at our discretion, and we will apply amounts that exceed the minimum payment amount due to balances with the highest APRs first. Please ensure information about the accounts to be paid-off is correct. If you provide inaccurate information in the requested fields the balance transfer process may be delayed. If a payment is sent to an incorrect company, you may need to work with that company to recover the funds.