Do Secured Cards Have Rewards Programs?

Secured credit cards often serve as a beacon of hope for those with limited credit history or a less-than-stellar credit score. As a bridge to building or repairing credit, they demand a security deposit, which typically becomes your credit limit. While they may sound like a basic tool for financial rehabilitation, the question many ask is: Do secured cards have rewards programs?

If you’ve been steering clear of secured credit cards because you thought they lacked the perks of traditional credit cards, you might be in for a surprise. Let’s dive into the world of secured credit cards and uncover the rewards they can offer.

Secured Cards: Not Just for Building Credit

A widespread belief is that secured cards are plain, no-frills options meant only for credit-building. But this isn’t the entire truth. Many secured credit cards come equipped with rewards programs, ranging from cash back to travel rewards. Like their unsecured counterparts, these cards can offer you perks for your spending.

What are the different types of rewards available with secured credit cards?

Do secured cards have rewards programs?
What are the different types of rewards available with secured credit cards?

When pondering the question, “Do secured cards have rewards programs?”, it’s essential to understand the variety of rewards these cards can offer. Here’s a breakdown:

1. Cash Back: Cash back is a favorite for many, and rightly so. Who wouldn’t love a return on their expenditure? A plethora of secured credit cards allow users to earn cash back on their purchases. This cash back can then be redeemed in various forms, including statement credits, gift cards, or even travel rewards in some cases.

2. Points System: Points are versatile. They can be accumulated and later redeemed for a myriad of items. From travel rewards and merchandise to statement credits, the options can be enticing. Several secured cards offer points for purchases, making them an attractive choice for those looking to gain more than just credit-building from their card.

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3. Travel Rewards: For the wanderlust-infused individuals, some secured credit cards come with the added advantage of travel rewards. These can range from miles for flights to points redeemable for hotel stays or car rentals. If you thought traveling on rewards was only for premium credit cardholders, think again!

What are the pros and cons of secured credit cards with rewards programs?

Everything has its set of advantages and disadvantages, and secured credit cards with rewards programs are no different. Let’s weigh the pros against the cons:


1. Credit Building: The primary purpose remains intact. Secured credit cards are an impeccable way to build or repair credit, especially if you’re starting or restarting your credit journey.

2. Earning While Spending: Just like an unsecured card, secured credit cards with rewards ensure you’re earning something back. Whether it’s cash back or points, your spending doesn’t go unnoticed.

3. A Boost to Your Credit Score: Responsible usage, which includes timely payments and maintaining a low credit utilization ratio, can amplify your credit score.


1. The Security Deposit: One can’t talk about secured credit cards without mentioning the security deposit. This upfront amount, which can vary from card to card, is held as collateral by the lender.

2. Potential Annual Fees: Not all, but some secured credit cards come with an annual fee, which can eat into the rewards you earn.

3. Generally Higher Interest Rates: Compared to many unsecured cards, secured credit cards often come with heftier interest rates. It’s always wise to pay off your balance in full each month to avoid these charges.

What are some of the best secured credit cards with rewards programs?

As you navigate the landscape of secured credit cards, some names stand out for their rewards programs:

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1. Discover it® Secured Credit Card: Known for its cash back, this card gives you 2% back at gas stations and restaurants on combined purchases up to $1,000 every quarter. Plus, an unlimited 1% cash back on all other spending.

Do secured cards have rewards programs?
Discover it® Secured Credit Card

2. Capital One® Platinum Credit Card: A straightforward card that offers 1% cash back on all purchases.

Do secured cards have rewards programs?
Capital One® Platinum Credit Card

3. Bank of America® Secured Credit Card: Like the Capital One® Platinum, you can expect 1% cash back on all your expenditures.

4. Citi® Secured Credit Card: With a similar structure to the Discover it® card, you get 2% cash back on gas stations and supermarkets for combined purchases up to $1,000 every quarter, and 1% cash back on all other purchases.

5. Wells Fargo® Reflect Card: A rewarding option for those who frequent gas stations and supermarkets, offering 2% cash back on combined purchases up to $6,000 annually, and then 1%. All other purchases earn an unlimited 1% cash back.

Which secured credit card with rewards program is right for me?

Finding the perfect secured credit card that aligns with your spending habits and reward preferences might seem like looking for a needle in a haystack. However, it’s more straightforward than you think, provided you know what you’re looking for.

1. Analyze Your Spending Habits: If you spend more on gas and dining, a card like the Discover it® Secured Credit Card could be more beneficial. On the other hand, if your expenditures are spread out, a card offering a flat rate on all purchases, like the Capital One® Platinum Credit Card, might be apt.

2. Weigh Rewards Against Fees: Consider cards with no annual fees or those where the rewards substantially offset any fees. This ensures that the perks you’re earning aren’t being unnecessarily diminished.

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3. Consider Your Travel Preferences: If you’re an avid traveler or plan to start traveling, secured cards offering travel rewards can be a boon. Cards like the Wells Fargo® Reflect can help you accumulate miles or points that can be redeemed for your next trip.

4. Check the Credit Score Requirements: Even within secured cards, there might be variations in credit score requirements. Ensure the card you’re eyeing matches your credit profile to increase the likelihood of approval.


In conclusion, to the pressing question – “Do secured cards have rewards programs?” – the answer is a resounding yes. Secured credit cards have evolved over the years and are no longer just a tool for those looking to build or repair their credit. They now offer a plethora of rewards that can cater to various spending patterns and preferences.

The beauty of a secured credit card with rewards lies in its duality. As you work towards establishing a robust credit history or improving your credit score, you don’t have to miss out on the perks typically associated with unsecured credit cards. From cash back to travel rewards, the opportunities to earn and redeem are manifold.

If you’re considering diving into the world of secured credit cards, remember to do your research. Evaluate your spending habits, understand the kind of rewards you value, and choose a card that aligns with your financial goals and lifestyle.

In a world where every penny counts, getting rewards on a credit-building tool like a secured credit card is a win-win. It’s a testament to the fact that financial growth and perks can indeed go hand in hand. Happy spending and earning!

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