SECURED CREDIT CARDS are a great way to establish credit, the challenge is choosing the right one.

Here are the major considerations I took when choosing the five best secured credit cards.

1) WHICH CRA'S DOES IT REPORT TO? The primary reason anyone has ever purposefully sought out a credit card, is so that is can build credit. Some secured credit cards only report to one or two of the major three credit reporting agencies (CRA's). The more bureaus it reports to, the greater value the secured card is.

2) HOW EASY IS IT TO GET APPROVED? Again, if you are looking to build credit - you are looking for secured credit card with some degree of ease-of-entry. It would seem like everyone who is willing to put down $300 up-front should qualify for a $300 secured credit card but that is often not the case.

3) HOW MUCH DOES IT COST TO OBTAIN/MAINTAIN The reason this falls last on the list is because while the primary goal is to build credit so you don't have to have a secured credit card forever - it is always nice to save some money in the process. And remember, a higher limit secured credit card does not earn you more credit than a secured credit card with a lower limit.

HERE IS OUR RECOMMENDATION FOR THE FIVE BEST SECURED CREDIT CARDS:

5) Green Dot primor® Visa® Gold Secured Credit Card

-Reports to all three bureaus

-No credit history required

-Secured limit as low as $200

-Annual fee of $49

-9.9% Fixed interest rate on purchases*

4) First Progress Secured Credit MasterCard®

-Reports to all three bureaus

-No credit history required

-Secured limit as low as $200

-Annual fee $39

-14.49% Variable Interest Rate*

3) Citi® Secured Mastercard®

-Reports to all three bureaus

-Credit check required

-Secured limit as low as $200

-No annual fee

-24.49APR Variable*

2) Capital One® Secured Mastercard®

- Reports to all three bureaus

- Credit check required

- Secured limit as low as $200

- No annual fee

-26.99% Variable Interest Rate*

1) OpenSky® Secured Credit Visa® Card

- Reports to all three bureaus

- No credit check

- Secured limit as low as $200

-$35 annual fee -19.39% Variable Interest Rate*

Any of these cards is a stepping stone to a traditional line of credit, that typically offer more competitive rates and incentives. Check out the best five credit cards here. *Terms and conditions are subject to change. Variable interest rates are based on market prime rates and are subject to change. See each credit card provider for most up-to-date terms and conditions.