The 5+ best secured credit cards with low or no deposits

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.

Our Pick: OpenSky® Secured Visa® Credit Card

The OpenSky® Secured Visa® is great for people that are in need of simplicity with their credit card, need to build credit or improve a poor credit score.

• $35 annual fee
• 18.64% variable APR
• $200 minimum deposit

Go to Capital Bank N.A.'s website
More info

Secured credit cards with low or no deposit minimum

Secured Credit Card	Annual Fee	Minimum deposit	Upfront cost (security deposit + fees)	Purchase APR
Digital Federal Credit Union Visa Secured	$0	$5	$15	13.00% variable
Capital One Secured MasterCard	$0	$200	As low as $49	24.99% variable
Justice Federal Credit Union Visa Classic Secured Card	$0	$100	$130	16.90%
Discover it Secured Credit Card	$0	$200	$200	24.49% variable
Citi Secured Mastercard	$0	$200	$200	23.74% variable

Compare Secured Cards by Minimum Deposit

Card-by-card rundown

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.

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

Frequently asked questions about secured cards

• When I make a security deposit, will it earn interest?

  Most of the time, your provider won’t pay interest on your security deposit.

• Is a secured credit card a “normal” credit card?

  Yes. You can use it like any other credit card, as long as you stay within your credit limit.

• Will card providers check my credit?

  Many secured-card providers will check your credit. For that reason, you may be declined if your credit score is too low. If you’re declined for a secured card, consider applying with a provider that doesn’t check your credit.