The Secured Sable ONE Credit Card is a unique credit product. For starters, it’s aimed at those who might have trouble qualifying for some other credit cards — people who are new to credit, have no credit or are interested in rebuilding their credit. And while it’s a secured credit card (requiring a security deposit in the amount of your desired credit limit), it doesn’t have a minimum deposit requirement like most other secured cards, instead allowing cardholders to choose their deposit amount.

On Sable’s website, the company tells the story of its founders experiencing difficulties as new immigrants struggling to access U.S. bank accounts and credit cards. In light of that, Sable allows non-U.S. citizens to apply for the Secured Sable ONE Credit Card without a Social Security number. Sable’s banking services are provided by Coastal Community Bank, which is located in Washington state.

• No minimum security deposit

  A typical secured credit card requires you to make a minimum security deposit. It’s often set at $200, but you may encounter cards that require a higher minimum deposit ($500, as an example).

  By contrast, the Secured Sable ONE Credit Card does not require a minimum deposit, which makes it more accessible for someone who might not be able to afford to commit $200 or $500 upfront. If you want to deposit $50 or $100 instead, you can do that — such flexibility is rare.

  Just know that keeping your utilization (how much of your credit limit you’re using) at less than 30% is important for maintaining good credit. And remember that your deposit amount determines your credit limit. So, for example, if your credit limit is $100, your balance should never exceed $30.

  The maximum security deposit the Secured Sable ONE Credit Card allows is $10,000.

• Doesn't require a credit check

  When you apply for most credit cards, the issuer will pull one or more of your credit reports — this is known as a credit check. If you have negative marks on your credit report, or if you don’t have as much credit history as the issuer is looking to see, you’re likely to be denied for the card.

  Plus, when an issuer checks your credit, this generates a hard inquiry and drops your credit score by a few points. The Secured Sable ONE Credit Card doesn’t require a credit check, so if you’re looking to rebuild your credit and worry that you might be denied for other cards, this could be a good option.

  The OpenSky^® Secured Visa^® Credit Card is another card that doesn’t require a credit check to apply, but it comes with a $35 annual fee.

• Rewards program

  Earn 2% cash back on everyday purchases at Amazon, Uber, Uber Eats, Whole Foods, Netflix, Spotify, and more! Plus, earn 1% cash back on all other purchases.

  Many secured cards don’t offer rewards at all, so it’s a definite plus that the Secured Sable ONE Credit Card offers rewards on purchases with these popular merchants. Note that there’s a spending cap of $20,000 per year, after which you won’t earn cash back on your purchases.

• No annual fee

  Some cards aimed at people with less-than-stellar credit charge an annual fee, but not the Secured Sable ONE Credit Card. With this card’s $0 annual fee, you can build your credit history without paying for the privilege of doing so.

• No foreign transaction fee

  If you travel outside the U.S., you can bring this card with you and have peace of mind thanks to its lack of a foreign transaction fee.

• Bonus for getting your credit score up

  If you build your credit score to 700 or higher in your first year with the card, Sable offers a $25 statement credit. (The issuer will use Experian and TransUnion to verify your credit score.)

• Apply even if you don't have an SSN

  Sable allows non-U.S. citizens to apply with a passport and a U.S. Visa. If you are a U.S. citizen, you’ll need to provide your SSN to open a Sable bank account.

• Reasonable APR

  Many secured credit cards come with interest rates above 20%. The Secured Sable ONE Credit Card comes with a reasonable APR of Prime + 6.99% (Variable). However, we still recommend paying off your card in full every month so as to avoid incurring interest charges at all.

• Opportunity to graduate to an unsecured card

  Sable offers the chance to graduate to an unsecured card in as little as four months. Be aware that graduating to an unsecured card is not guaranteed — however, having this opportunity and knowing the timeline for when you might be considered are positive features.

  On Sable’s website, there are milestones listed which will increase the likelihood you might graduate from the Secured Sable ONE Credit Card to an unsecured card, including:

  • Making on-time payments to your card every month.
  • Spending at least $250 on your card every month.
  • Making 15 or more transactions on your card each month.
  • Maintaining a credit limit of at least $500 for the last four months.
  • Receiving monthly payroll direct deposits to your Sable bank account of at least $500 per month for the last four months.

  If Sable determines that you’re eligible, the company will notify you and you’ll have to opt in, after which you’ll receive your security deposit back as a credit balance.

• You must have a Sable bank account

  To make the security deposit for the Secured Sable ONE Credit Card, you need a Sable bank account. This might not be a bad thing if you don’t already have a bank account — Sable’s emphasis on online banking through its mobile app could provide an easy way to manage your money, and each account is FDIC-insured up to $250,000 per depositor through Coastal Community Bank, Member FDIC.

  However, if you already bank elsewhere, you might prefer a different secured card that will let you pay your deposit from your existing bank account, such as the Capital One Platinum Secured Credit Card.

• Restrictions on cash back

  This card’s 2% cash back rate is for purchases at select merchants such as Amazon, Uber, Uber Eats, Whole Foods, Netflix, Spotify. Other purchases will earn 1% cash back. If you don’t do much shopping at merchants qualifying for the 2% rate, you might find the rewards program less attractive.

  Also, note the annual $20,000 spending cap, after which you won’t earn cash back on your purchases.

 

The Discover it^® Secured Credit Card consistently ranks among our best cards for people with poor/limited credit. It requires a reasonable $200 minimum deposit, reports to all three major consumer credit bureaus, and comes with the promise that Discover will conduct monthly reviews of your account (starting at seven months) to see if you qualify to graduate to an unsecured Discover card.

There’s also a cash back program. Cardholders earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically.

For new cardmembers, there’s a unique sign-up bonus: Discover will match all the cash back you’ve earned at the end of your first year.

The annual fee is $0 and the foreign transaction fee is none. However, note that the card comes with a high 27.24% Variable APR. If you pay your card off in full every month, though, you can avoid interest charges.

Also be aware that there is a credit check when you apply for this card, and you’ll need to provide an SSN.

The Secured Sable ONE Credit Card offers flexibility in setting your deposit amount, cash back rewards on purchases with popular merchants, and some travel benefits you likely won’t find on other secured cards.

However, you’ll have to open a Sable bank account to fund the card’s security deposit. If that isn’t an issue, this could be a good card to build credit with. But if you’re looking for a card that doesn’t require you to open a new bank account, the Discover it^® Secured Credit Card is worth considering instead.