Best Secured Credit Cards Of August 2022 – Forbes Advisor


The Bank of America® Customized Cash Rewards Secured Credit Card* offers a unique twist on earning rewards: Each cardholder can choose their own bonus cash back category. For those with spending habits that change regularly or who want to have some extra control over rewards earning, this card could be a good choice.

Rewards: 3% cash back in your category of choice: gas, online shopping, dining, travel, drug stores or home improvement/furnishings; 2% cash back at grocery stores and wholesale clubs; unlimited cash back on all other purchases. Earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%

Annual Fee: $0

Other Benefits and Drawbacks: A minimum security deposit of $300 is required to open this account, and deposits can be as high as $4,900. Bank of America will periodically review accounts for the return of the security deposit and could approve graduation to a non-secured account. Cardholders also have access to their FICO credit scores.



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