2021 Sable ONE Credit Card Review

Sable One Credit Card Review
GUIDE
Eric Bank
By: Eric Bank
Updated: October 20, 2021
Advertiser Disclosure

This Sable ONE Credit Card review explores a card that is specifically designed for consumers who have faced challenges with their credit. It is a secured credit card that offers cash back rewards and premium benefits, two features not often found in this type of card. 

If you are looking to rebuild your credit and quickly graduate to an unsecured credit card, the Sable ONE Secured Credit Card may be a perfect choice.

Earn Cash Back On Every Purchase, Every Day

The Sable ONE Secured Credit Card lets you earn 2% cash back at select merchants on up to $20,000 spent annually. All other purchases earn an unlimited 1% cash back.

  • Earn 2% cash back on everyday purchases at Amazon, Uber, Uber Eats, Whole Foods, Netflix, Spotify, and more! And 1% cashback on everything else.
  • No credit check or U.S. credit history required. No SSN required for non-US citizens.
  • Build U.S. credit history from day 1 at major credit bureaus (get $25 when you build your credit score to a 700+ credit score within 12 months of use).
  • Get unsecured in as little as 4 months!
  • No annual fee, no foreign transaction fees, no minimum security deposit.
  • Premium benefits like Cell Phone Protection (including cracked screens) and Car Rental Insurance coverage.
  • Click here for terms and conditions.
  • Click here for official site and application.
   
★★★★★

4.8

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
10 minutes 10.24% (Variable) Yes 7.0/10

Even more unusual is the dollar-for-dollar match of all the cash back you’ve earned at the end of your first year. That’s a feature that will draw the attention of Discover fans.

Sable ONE Benefits

Your Sable credit card provides several valuable benefits, including:

  • Phone insurance: You’re covered against damage (including cracked screens) and loss when you use the Sable ONE card to buy your cellphone and pay the monthly bill. 
  • Car rental insurance: Pay your car rental bill with the Sable card to receive free coverage for theft and physical damage. 
  • New purchase insurance: Most items purchased with the Sable credit card are covered for theft and damage within 90 days of the purchase date. 
  • Price protection: You’ll be reimbursed the difference if you find a lower price within 90 days on the same item purchased with the Sable card. 
  • Extended warranty: Sable will double the original manufacturer or store warranty on eligible items.
  • Satisfaction guarantee: You’re covered for 60 days if you become dissatisfied with a new purchase.
  • Travel assistance: You’ll receive help arranging emergency roadside assistance.
  • Zero liability: You aren’t held liable for unauthorized spending on your card.

To Sable ONE’s credit, this is a robust list of benefits for any credit card designed for consumers with poor credit, and even more so for a secured credit card. Please refer to Sable’s terms for a full list of benefits and details.

Good Credit Is Not Required

The Sable ONE Secured Credit Card does not perform a hard credit check when you apply, meaning there is no effect on your credit score. But that is only the first of several features this card offers. Others include:

  • Fast approval: Sable promises an approval decision in just three minutes.
  • No minimum deposit: You can deposit as much (up to $10,000) or as little as you want to establish your secured credit line.
  • Fast graduation: By paying your bills on time and keeping a low unpaid balance, you can graduate to an unsecured credit card in as little as four months. Sable sets achievable milestones, like minimums for transaction volume, direct deposit volume, and credit limit, that let you quickly establish your creditworthiness. Upon graduation, your deposit will be fully refunded, and there will be no hard pull of your credit.
  • Enhanced reporting: The card reports an unusually wide array of data to the major credit bureau trio, including credit utilization and length of credit history. This should enhance the content of the resulting credit report. A typical credit report may omit some of the data included in this card’s reporting scope, such as certain details in your positive credit history.
  • Automatic reminders: Sable alerts you when payments are due so you never miss one. 
  • Low fees: The card lets you apply more of your money to pay your bills by not charging an annual fee, late payment fee, or foreign transaction fee.
  • Low variable APR: Sable charges a low variable APR of Prime + 6.99%. This APR will vary with the market based on the Prime Rate.

The accompanying Sable mobile app monitors your FICO Score, letting you see how your score responds to your use of the Sable ONE card. 

Note that the Sable ONE card does not support balance transfer transactions. But it’s not unusual for secured cards to omit support for a balance transfer. 

5 Alternatives to the Sable ONE Secured Credit Card

We’ve given high ratings to the following five secured cards in case you are looking for an alternative to the Sable ONE card.

  • If approved, fund your Security Deposit to open your account.  Once open, you will have the opportunity to build your credit limit up to $5,000.
  • Opportunity to build your credit card limit over time by adding funds to your Security Deposit.
  • Reports to consumer reporting agencies help you monitor your financial progress to begin your credit building journey (build credit by keeping your balance low and paying all your bills on time every month)
  • You don’t need perfect credit for a First PREMIER® Bank Secured Credit Card
  • Make your payments on time each month, and keep your balance low relative to the credit limit, for positive marks on your credit report.
  • If approved, make your first six monthly minimum payments on time and we may send you an offer to apply for an unsecured credit card. Some restrictions apply.‡
  • ‡If you apply for the second account, which is unsecured, you will be approved if you can demonstrate the ability to pay your bills, meet our minimum income requirements, do not reside in New York or Wisconsin and are not covered under the Military Lending Act.
  • FICO scores are used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any First PREMIER® Bank product.
  • Click here for official site, terms, and details.
★★★★★

4.8

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
4 minutes See Issuer Website Yes 9.0/10

The First PREMIER® Bank Secured Credit Card is a secured card that’s easy to get approved for. Your account balance and payment history will be reported to the bureaus to help improve your credit score. However, the APR and annual fee are a little higher than that of other secured cards.

  • Better than prepaid…Go with a secured card! Load one time – keep on using
  • Absolutely no credit check or minimum credit score required
  • Automatic reporting to all three national credit bureaus
  • 9.99% low fixed APR – Your rate won’t go up even if you are late
  • Activate today with a $200 minimum deposit – maximum $1,000.
  • Increase your credit limit up to $5,000 by adding additional deposits anytime
  • Click here for official site, terms, and details.
★★★★

4.4

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
10 minutes 9.99% Fixed Yes 7.5/10

The Applied Bank® Secured Visa® Gold Preferred® Credit Card offers a low, fixed APR — but there’s a catch. There’s no grace period for purchases, so only consider this card if you plan to make payments to your account shortly after you make purchases, lest you be charged interest fees.

  • No credit check necessary to apply. OpenSky believes in giving an opportunity to everyone.
  • The refundable deposit you provide becomes your credit line limit on your Visa card. Choose it yourself, from as low as $200.
  • Build credit quickly. OpenSky reports to all 3 major credit bureaus.
  • 99% of our customers who started without a credit score earned a credit score record with the credit bureaus in as little as 6 months.
  • OpenSky provides credit tips and a dedicated credit education page on our website to support you along the way.
  • View our Cardholder Agreement located at the bottom of the application page for details of the card.
  • Click here for official site, terms, and details.
★★★★

4.2

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
9 minutes 17.39% (Variable) Yes 7.0/10

The OpenSky Secured VISA credit card does not perform a hard credit check when you apply. Its initial credit line ranges from $200 to $3,000, which is secured by your cash deposit. The card charges an annual fee plus the customary fees for each cash advance, foreign transaction, and late or returned payment.

  • Receive Your Card More Quickly with New Expedited Processing Option
  • No Credit History or Minimum Credit Score Required for Approval
  • Quick and Complete Online Application; No credit inquiry required!
  • Includes Free Real-Time Access to Your Credit Score and Ongoing Credit Monitoring powered by Experian
  • Full-Feature Platinum Mastercard® Secured Credit Card; Try our new Mobile App for Android users!
  • Good for Car Rental, Hotels; Anywhere Credit Cards Are Accepted!
  • Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
  • Credit Line Secured by Your Fully-Refundable Deposit of $200 — $2,000 Submitted with Application
  • Just Pay Off Your Balance and Receive Your Deposit Back at Any Time
  • 24/7 Online Access to Your Account
  • Nationwide Program though not yet available in NY, IA, AR, or WI ** See Card Terms.
  • Get a fresh start! A discharged bankruptcy still in your credit bureau file will not cause you to be declined.
  • Click here for rates and fees.
 
★★★★

4.0

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
9 minutes 13.99% (V) Yes 7.5/10

It’s easy to obtain the First Progress Platinum Select Mastercard® Secured Credit Card. The card has a competitive purchase APR that comes with a generous 25-day grace period. But you will be charged specific fees, including an annual fee, foreign transaction fee, cash advance fee, and fees for late or returned payments.

  • Initial deposits can be from $200 to $3,000. You can increase your credit line at any time by adding additional money to your security deposit, up to $3,000.
  • After 9 months, we review your account for a credit line increase. No additional deposit required!
  • Secured credit cards are great for people looking to build or rebuild credit and are available to people with all kinds of credit backgrounds.
  • Unlike a debit card or a pre-paid card, it helps build your credit history. As you pay your bill every month, we report to all three major credit-reporting agencies.
  • Get 100% U.S.-based customer service & get your FICO® credit score for free each month.
  • Card issued by Merrick Bank, Member FDIC.
  • Click here for official site, terms, and details.
★★★★

4.0

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
10 minutes 17.45% (Variable) Yes 7.5/10

The Classic Secured Visa® Credit Card lets you choose from among several colors to fit your personal style. Use the card responsibly to build credit and be considered for an automatic credit line increase with no additional deposit required. 

Is Sable ONE a Good Credit Card?

We give the Sable ONE Secured Credit Card high marks for its generous benefits, cash back rewards, and low fees. We like its aggressive graduation program that tries to rapidly promote you to an unsecured account. 

You don’t need to pass a credit check to get the card, and the credit card issuer shares extra data with the major credit bureau trio (Experian, Equifax, and TransUnion) to help you build credit. The card’s dollar-for-dollar cash back match rewards every new cardmember at the end of the first year of ownership. 

In sum, a new credit card company is shaking things up in the secured credit card arena, and we expect this one to prove quite popular. 

What Type of Credit Card Is Sable ONE?

Sable ONE is a secured credit card, meaning you deposit cash to collateralize your credit line. This is the type of credit card you seek when you have a low FICO Score and either don’t qualify for or don’t like the selection of unsecured credit cards designed for bad credit.

Secured vs Unsecured Chart

Because secured credit cards are easy to obtain, they can serve as the first step in your effort to operate as a responsible credit builder. By paying your bills on time and keeping your credit utilization ratio below 30%, you may soon qualify for an unsecured card available from the same or a different credit card company. 

The cash deposit is refundable when you graduate from or otherwise close your account. However, don’t expect to earn interest on your deposit, although the money should be insured by the card issuer.

What Is the Highest Credit Limit For the Sable ONE?

Sable ONE has an unusually high maximum credit limit of $10,000, whereas many competitors max out below $5,000. Moreover, the card has no minimum deposit requirement, presumably meaning you may be able to open an account with as little as $1. 

If you exceed your credit limit, Sable ONE expects you to promptly cough up the overage. The issuer may block transactions that would cause you to exceed your limit or change your credit limit at any time without notice. It also reserves the right to decline particular transactions or limit spending over any particular period.

What Is the Difference Between Sable ONE and the Sable Debit Card?

Whereas your security deposit backs the Sable ONE Secured Credit Card, backing for the Sable Mastercard Debit Card comes from the balance in your Sable banking account

Your Sable mobile bank account is provided by Coastal Community Bank, Member FDIC, pursuant to license by Mastercard International Inc. Sable operates as Sable Money, Inc., a mobile bank and financial corporation.

Photo of the Sable Debit Card
The Sable Debit Mastercard connects to the Sable Bank Account — the secured card does not.

Sable markets its products to international consumers living in the United States. When you open a banking account with Sable, you will be issued a debit card that you must activate before using.

You can use the Sable debit card to pay for purchases, make cash withdrawals, and obtain your most recently available account balance. As with most debit cards, the one from Sable has minimal fees, mainly charging for overdrafts, money wires, expedited card replacement, and ATM withdrawals (e.g., third-party ATM fees).

A debit card, including the one from Sable, won’t affect your credit score unless you fail to uphold a financial commitment, such as paying your overdraft fees. 

Your Sable debit card allows you to withdraw up to $750 a day at an ATM and make point-of-sale purchases of up to $5,000 a day.

As of this writing, Sable does not offer a prepaid card (i.e., a reloadable debit prepaid card backed by your cash deposits). It also doesn’t offer an unsecured traditional credit card.

However, by refunding your security deposit, the Sable secured credit card transforms into the equivalent of an unsecured traditional credit card.

Does Sable ONE Increase Your Credit Limit?

Your credit limit is up to you, meaning you can increase it by depositing more cash (with Sable’s permission) to your security account. The credit limit question for the Sable secured credit card is almost moot, given Sable’s aggressive program to promote you to an unsecured card as quickly as possible. 

Sable One’s maximum credit limit of $10,000 is among the highest in the secured credit card industry. If you need a higher limit, you may first have to raise your credit score so you can qualify for an unsecured credit card with high limits.

So, Is the Sable ONE Secured Credit Card a Good Choice? 

This Sable ONE Credit Card review is strongly positive. If you are considering a new secured card, we think you should give the Sable ONE offering a good look.

Of course, you should read the full cardholder agreement before accepting any credit card, secured or unsecured. More importantly, use your credit cards to rebuild your credit by keeping your balances in check and paying your bills on time, every time, without fail. 

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