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High limit secured credit cards
Some providers allow as high as $10,000 — some have no limits.
Secured card credit limits depend on your deposit. For example, if you deposit $200, your credit limit is $200, and a high credit limit of $5,000 requires a $5,000 deposit. The reason you need a secured deposit is for the provider to use your funds to cover your balance if you fail to pay your card bill.
You may find credit cards with maximum limits from $1,000 up to $10,000. The secured cards with the highest credit limits have no maximum limits at all.
Compare high limit secured credit cards
Here’s a list of cards that offer high maximum deposits. Note that while the DCU Visa® Platinum Secured Credit Card and SDFCU Savings Secured Visa Platinum Card are listed as having no maximum deposits, this is subject to change based on the credit unions’ discretion.
| Card | Minimum deposit | Maximum deposit | Annual fee | |
|---|---|---|---|---|
| OpenSky® Secured Visa® Credit Card | $200 | $3,000 | $35 | |
| Merrick Bank Secured Credit Card | $200 | $3,000 | $36 | |
| DCU Visa® Platinum Secured Credit Card | $500 | Unlimited* | $0 | |
| SDFCU Savings Secured Visa Platinum Card | $250 | Unlimited* | $0 | |
| Wells Fargo Secured Credit Card | $300 | $25,000 | $25 | |
| U.S. Bank Secured Visa® Card | $300 | $5,000 | $0 | |
| BankAmericard® Secured Credit Card | $300 | $4,900 | $0 | |
| Discover it® Secured | $200 | $2,500 | $0 | |
| Citi® Secured Mastercard® | $200 | $2,500 | $0 | |
| UNITY Visa® Secured Credit Card | $250 | $10,000 | $39 |
Pros and cons
Pros
- Flexibility. You’ll have more room to increase your credit limit if you need to.
- Higher chances of approval. If there are weaknesses in your credit report, other providers might not give you high starting limits. By opening a high-limit secured card, you can give yourself a substantial limit.
- Refundable security deposit. No matter what you deposit, your money is almost always refundable as long as you’re not in default.
Cons
- Your credit limit is based on your security deposit. While a high-limit secured card might sound enticing, remember that you get a substantial limit only if you’ve given your provider a large amount of funds. This money typically doesn’t earn you interest like a savings account would.
- Annual fees. Many secured cards with high limits come with annual fees of $25 to $49, though you’ll find select products without annual fees.
- High APRs. While it might be tempting to run up high balances if you have a high credit limit, secured cards often have higher-than-average APRs. This means your card debt could accumulate faster than you think.
Compare secured credit cards
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Bottom line
Secured-card limits vary widely, often from $1,000 to $10,000. With some providers, you’ll find no maximum limits. There are many great secured credit cards to choose from, so take your time and compare multiple options.
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