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Secured credit cards with low deposits

Spend as low as $50 to start building your credit now.

Our pick for a low deposit: Citi® Secured Mastercard®

Citi® Secured Mastercard® logo

from $200

Security deposit

  • No annual fee: A rare feature for a secured card
  • Build credit with reporting to all 3 major credit bureaus
  • Deposit between $200 - $2,500
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Kliment Dukovski
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Use our table to compare secured credit cards with low or no deposit minimum. Select up to four cards and hit "Compare" to see how their features stack up. You can also select "Show filters" to narrow your search.

Name Product Filter values Minimum deposit required Purchase APR Annual fee Recommended minimum credit score
Citi® Secured Mastercard®
Citi® Secured Mastercard®
Starting at $200
22.49% variable
$0
New to credit
A no annual fee secured card for people who are new to credit or have limited credit history.
Apply now
View details
Self Visa® Credit Card
Self Visa® Credit Card
Starting at $100
21.74% variable
$25
300
Build your credit with a low minimum security deposit of $100 and no credit score required.
Apply now
View details
OpenSky® Secured Visa® Credit Card
OpenSky® Secured Visa® Credit Card
Starting at $200
17.39% variable
$35
300
Apply for this card with no credit check if you're new to credit or have bad credit.
Apply now
View details
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To use a secured credit card you have to make a deposit, typically $200, which acts as your credit line. But to build credit, the card provider must report your activity to the three major credit bureaus — Experian, Equifax and TransUnion. After you improve your credit score, some providers may even return your deposit and upgrade your card to an unsecured one.

Should you decide to close your account before that, the bank will return your deposit as long as you don’t have outstanding debt. If a $200 deposit sounds like a lot, you can get a secured card with a deposit as low as $50, while still getting a $200 credit line. That said, it’s unlikely that you’ll qualify for such a low deposit if you have poor credit. But don’t despair, there are alternatives.

What is considered a low deposit?

The most common secured card deposit is $200. Anything below that is considered a low deposit. As of January 2021, the Capital One® Secured Mastercard® is the only secured card with the lowest deposit of $49, while still providing a $200 credit limit. However, if you have a poor credit score or no credit history, you will likely have to deposit either a $99 or a $200 to get a $200 credit limit with this card.

Are there secured cards with no deposit?

Technically, a secured card with no deposit is an unsecured card. There are unsecured cards for building credit, but they often come with higher annual fees than a secured card.

Here are three secured cards with low security deposits. See which ones you might qualify for based on your credit score.

DepositMinimum credit scoreAnnual fee
Capital One® Secured Mastercard®$49, $99 or $200 depending on your credit score580$0
Justice Federal Credit Union (JFCU) VISA Classic Secured Card$100300$0
Self Visa® Credit Card$100300$25

Alternatives to secured credit cards

If you can’t afford to shell out $200 right away, consider an unsecured card. Unsecured cards for building credit can cost anywhere from $0 to $299 annually. The cards that cost $299 are often paid in monthly instalments, but it’s best to avoid them altogether as they often come with many hidden fees.Those who have good financials but don’t have a credit history, should consider applying for the Petal® 1 “No Annual Fee” Visa® Credit Card. It has no annual fee and it looks beyond your credit history to determine your eligibility.

Bottom line

The security deposit you put down for a secured card doesn’t have to wipe out your bank account. Even a $50 deposit secured credit card 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 how to use secured credit cards.

Frequently asked questions

  • 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.

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    6 Responses

      Default Gravatar
      LarryMarch 2, 2019

      What would you consider to be the best secured card for someone who has no bank account and a card that require no credit check to ensure getting approved?

      Reply
        Avatarfinder Customer Care
        JoshuaMarch 5, 2019Staff

        Hi Larry,

        Thanks for getting in touch with Finder. I hope all is well with you. :)

        As a comparison website, we are not permitted to provide specific recommendations. However, I can help you by providing you options.

        As of now, we don’t have a list of secured credit cards for a person who doesn’t have a bank account. Nevertheless, we have a page that lists secured credit card providers that don’t require a credit check.

        On that page, you will see a list of secured credit cards that don’t require a credit check. On the same list, you will read about their description to help you know more about their offer. You can directly get in touch with your chosen provider and ask them if they require a bank account.

        I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

        Have a wonderful day!

        Cheers,
        Joshua

        Reply
      Default Gravatar
      RayNovember 30, 2018

      I was inquiring about the DCU secured card and was told by their representative they had a minimum deposit of $300, is this true?

      Reply
        Avatarfinder Customer Care
        nikkiangcoDecember 6, 2018Staff

        Hi Ray,

        Thanks for getting in touch.

        The deposit for DCU Visa Platinum secured credit 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

        Reply
      Default Gravatar
      MikeFebruary 28, 2018

      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

      Reply
        Default Gravatar
        joelmarceloMarch 7, 2018

        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

        Reply
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