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 crimp in your savings. (For more info, check out our guide to secured credit cards.)
Fortunately, a secured credit card doesn’t have to cost much if you pick the right one, and there’s even a secured credit card with no deposit. We’ve searched the market for you to find the top five secured credit cards with low or no deposit minimums.
Secured credit cards with low or no deposit minimum
|Secured Credit Card||Annual Fee||Minimum deposit||Upfront cost (security deposit + fees)||Purchase APR|
|$0||$200||As low as $49||24.99% variable|
Compare Secured Cards by Minimum Deposit
1. Digital Federal Credit Union (DCU) Visa® Platinum Secured Credit Card
- No minimum deposit
The DCU Visa Platinum is the rare secured card that requires no minimum deposit. For that reason, it’s the winner in our list of secured cards with low deposits.
You can get this card by joining the Digital Federal Credit Union. If you can’t meet DCU’s eligibility requirements, you can become eligible by joining Reach Out for Schools — a nonprofit that raises money for schools, school programs and education — for $10 at the same time you open a DCU account. Then, just fund your DCU savings account with a minimum of $5. In total, it’ll cost as little as $15 to open your secured card. Learn more about joining the DCU.
- Upfront cost. $15 — includes Reach Out for Schools membership and DCU savings account opening deposit.
- No annual fee.
- Low interest rate. 12.75% variable APR for purchases, balance transfers and cash advances.
- Light on the fees. No balance transfer, cash advance or foreign transaction fees.
- Watch out for required membership with the Digital Federal Credit Union.
2. Capital One® Secured Card
- As low as $49 minimum deposit
With the Capital One Secured Card, you may qualify to deposit only $49 or $99 and still get a $200 credit line. After you pay your bill on time for the first five months, you’ll automatically qualify for a higher credit line.
3. Visa® Classic Secured by Justice FCU
- $100 minimum deposit
The Visa Classic Secured requires a relatively low $100 minimum deposit. It also offers an intro APR, which is rare for secured credit cards. You’ll get 0% APR on purchases, balance transfers and cash advances for the first six months. On top of that, you won’t pay fees for balance transfers.
To apply for the card, you need to be a member of the Justice Federal Credit Union. If you don’t meet the criteria to become a member, you can satisfy that requirement by joining one of the credit union’s affiliate organizations — click here for a list of affiliates. Furthermore, you’ll need to make a $5 deposit to open a Justice FCU savings account. Learn more about joining the Justice FCU.
4. Discover it® Secured Credit Card
- $200 minimum deposit
The Discover it Secured Credit Card’s required deposit isn’t as low as the one for the DCU Visa Platinum, Capital One Secured or Justice FCU Secured.
But it definitely gives better rewards, like cash back — a percentage of money refunded on eligible purchases.
5. Citi® Secured Mastercard®
- $200 minimum deposit
The Citi Secured Mastercard is a solid secured card that requires only a $200 minimum deposit. It’s not loaded with features, but it does include Mastercard benefits like travel benefits and purchase protection.
The five best secured cards with low deposits
US Annual Fee
Min credit limit
DCU Visa® Platinum Secured Credit Card
Capital One Secured Mastercard
Justice FCU Visa® Classic Secured
Discover it® Secured Credit Card
Citi® Secured Mastercard®
Frequently asked questions about secured cards