Semisecured card

A semisecured credit card is similar to a secured card in that both require you to put down a deposit that is used as collateral if you are late paying the bill. But unlike a secured card, a semisecured card’s credit limit is greater than the amount on deposit. That makes a semisecured card good for people who are trying to rebuild credit and are ready to graduate from a secured card but can’t yet qualify for a conventional credit card.