Compare secured credit cards with low deposits

Rebuild your credit without breaking the bank.

Last updated:

A secured credit card can be incredibly helpful if you’re looking to improve your credit score. But to get one, you have to put down a security deposit — and that can put a real dent in your savings and a strain on your budget. Banks and secured credit card providers typically require a minimum deposit of $500. Fortunately, there are a couple of secured credit cards on the market that don’t have to cost you as much.

Compare secured cards

Name Product Required Deposit Purchase Interest Rate Cash Advance Rate Annual Fee Reward
Refresh Financial Secured Visa Card
$200 - $10,000
Take advantage of a low annual fee, with no credit check and guaranteed approval once you secure your credit card with some funds.
Take advantage of a low annual fee, with guaranteed approval and no credit check.

Compare up to 4 providers

*The products compared on this page are chosen from a range of offers available to us and are not representative of all the products available in the market. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.

Card-by-card rundown

Many secured credit cards require a minimum deposit of around $500 on average. However, your minimum deposit can be as low as $75 or as high as $10,000 depending on your card. Remember that as long as you provide the minimum amount, you can control your credit limit. The deposit amount you provide will serve as your monthly credit limit.

Refresh Financial Secured Visa Card

Refresh Financial Secured Visa Card
Go to site

With this secured credit card, you can look forward to building up your credit score by making on-time payments. You’ll need to provide a minimum deposit of at least $200, with the option to provide up to $10,000 should you need access to a much higher credit limit.

While it has an annual and monthly fee, this secured card does not require a credit check and comes with a competitive purchase APR of 17.99%.

Capital One Guaranteed Secured Mastercard

The Capital One Guaranteed Secured Mastercard offers the lowest security deposit of all secured cards on the market – only a minimum of $75 is required. Although no credit card is ever guaranteed, this Capital One card guarantees approval, as long as you meet four conditions. These conditions are:

  1. Be 18 years of age or the age of majority in your province or territory
  2. You haven’t applied for a Capital One card in the last 30 days or had an account not in good standing in the last year
  3. You don’t have an existing Capital One account or a pending application,
  4. You provide the necessary security funds of either $75 or $300.

Bottom line

The security deposit you put down to get a secured credit card doesn’t have to wipe out your savings. Even a secured credit card with a $75 deposit can help you rebuild your credit if you spend responsibly and pay off your balance at the end of each month. Check out our full secured credit card guide to learn more about these powerful credit building cards.

Frequently asked questions about secured cards

Ask an Expert

You must be logged in to post a comment.

Go to site