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 | $5 | $15 | 13.5% variable | |
| $0 | $200 | As low as $49 | 24.99% variable | |
 Justice Federal Credit Union (JFCU) VISA Classic Secured Card |
$100 | $130 | 16.9% variable | |
| $0 | $200 | $200 | 24.99% variable | |
| $0 | $200 | $200 | 24.49% |
Compare Secured Cards by Minimum Deposit
Card-by-card rundown
1. DCU Visa® Platinum Secured Credit Card
- No minimum deposit
The DCU Visa® Platinum Secured Credit Card 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.
Card Details
- Upfront cost. $15 — includes Reach Out for Schools membership and DCU savings account opening deposit.
- $0 annual fee.
- Low interest rate. 13.5% 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. Secured Card® from Capital One®
- As low as $49 minimum deposit
With the Secured Card® from Capital One®, 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.
Card Details
3. Justice Federal Credit Union (JFCU) VISA Classic Secured Card
- $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.
Card Details
4. Discover it® Secured
- $200 minimum deposit
The Discover it® Secured’s required deposit isn’t as low as the one for the DCU Visa® Platinum Secured Credit Card, Secured Card® from Capital One® or Justice Federal Credit Union (JFCU) VISA Classic Secured Card.
But it definitely gives better rewards, like cash back — a percentage of money refunded on eligible purchases.
Card Details
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.
Card Details
The five best secured cards with low deposits
Frequently asked questions about secured cards
I was inquiring about the DCU secured card and was told by their representative they had a minimum deposit of $300, is this true?
Hi Ray,
Thanks for getting in touch. As it says on this page, The deposit for this secured card works a little differently from other secured cards. Your deposit isn’t held separately as collateral. You borrow against your savings account, so this card acts more like a debit or checking card. Your deposit isn’t held and then returned after closing the account; it’s always available.
You need to have at least $5 in your account, and then however much you have up to your credit limit is how much you can put on the card. For example, if your limit is $300, you’d need at least $300 in your account, which includes the minimum $5.
Hope this helps!
Best,
Nikki
What would be the best card to gain better credit standing overall? Does any card in particular provided more credit worthiness?
Thanks in advance,
-Mike
Hi Mike,
Thanks for leaving a question on finder.
Credit card providers will carefully consider any “bad credit” details – such as late payments or defaults – that are listed on your credit report. So, if you want to apply for a credit card to help improve your credit rating, sticking to basic options can improve your chances of getting approval.
Another option is to consider credit cards with no annual fee or a low standard interest rate. These kinds of cards can help keep the cost of the account down and make it easier for you to avoid late payments, defaults and other problems that lead to bad credit.
Cheers,
Joel