Secured credit cards with no deposit

Although secured credit cards without deposit requirements are rare, there are secured cards that don’t require a deposit upfront — and don’t check your credit score, either. These nifty secured cards work similarly to a debit card and are backed by a bank account instead of a cash deposit. But if those aren’t your cup of tea, there are plenty of low-deposit secured cards to consider too.

Secured credit cards with no deposit

While rare, some secured credit cards don’t require a security deposit. Instead of a security deposit, they require you to link an existing bank account to back the card. The account’s balance is what sets your spending limit.

Current Credit Building Card

4.6

★★★★★

Finder score

Go to site Read review

Current, a fintech company with banking services, offers the secured Current Build Card. This card has no deposit requirements, no credit check, no APR and no annual fees. The Build Card requires you to have a Current all-in-one bank account. That account has savings pods, paycheck advances for eligible users, early payday, and is free to open and maintain. The amount in your Current account sets your credit limit for the Build Card, so you can only spend what you have. You can set up autopay to pay off your Build Card and earn rewards points at over 14,000 participating merchants. But if you don't opt into autopay and are late on a payment, there's a 3% late fee. Current only reports to TransUnion, but does have plans to report to other bureaus eventually.

• Pros and cons

  Pros

  • No deposit required
  • 0% APR and $0 annual fees
  • No hard credit pull
  • Points rewards program
  • Tons of perks with Current account

  Cons

  • Only reports to TransUnion
  • 3% late fee

• More details

  Annual fee	$0
  Purchase APR	0% APR - Purchases are made using your Current Account balance
  Welcome Offer	N/A
  Rewards	Up to 7% cash back

Welcome Offer	n/a
Rewards	Up to 7% cash back
Annual fee	$0
Minimum credit score	New / limited credit

Go to site Read review

Step Black Card

Go to site

The secured Step Black Card offers up to 8% cashback rewards, credit-building opportunities, Visa Signature perks and more. There's no opening deposit or interest charges, either. Similar to other secured cards with no deposit, the Step Black Card is backed by an account, and this one is secured by the Step account. Opening a Step account is free to open, and the Black Card's credit limit is based on your Step account balance. The downside is there's a $99 annual fee, but that's a typical price for credit cards with rewards. Step also offers a free secured card option with no monthly or annual fees that can earn up to 3% cash back.

• Pros and cons

  Pros

  • $0 deposit and 0% APR
  • No credit check
  • Up to 8% cashback rewards
  • Reports to major credit bureaus

  Cons

  • $99 annual fee for Step Black
  • Requires Step account

• More details

  Annual fee	$99
  Purchase APR	N/A
  Balance transfer APR	N/A
  Welcome Offer	N/A
  Rewards	Up to 8% cash back

Welcome Offer	n/a
Rewards	Up to 8% cash back
Annual fee	$99
Minimum credit score	New / limited credit

Go to site

5 low deposit secured credit card alternatives

Most traditional secured credit cards require at least $200 to open, but you’ve still got other options that accept lower amounts or simply require setting up direct deposit.

Capital One Platinum Secured Credit Card

4.4

★★★★★

Finder score

Go to site Terms apply, see rates & fees Read review

A more traditional secured card option, the Capital One Platinum Secured Card has one of the lowest deposit requirements in the market. You can make a security deposit as low as $49, $99 or $200, and those minimum deposit amounts offer a $200 credit limit. You can also raise your credit limit by depositing more. Enjoy no foreign transaction fees or card replacement fees, and Capital One reports to all three credit bureaus. You'll also have upgrade options if you stay on top of the payments — not something included with debit-credit cards. However, like a regular credit card, you'll have to deal with interest charges, which is a high purchase rate of 30.74% variable APR.

• Pros and cons

  Pros

  • Deposit as low as $49
  • No foreign transaction fees
  • Upgrade options with good repayment history
  • Reports to major credit bureaus

  Cons

  • High 30.74% purchase APR
  • Credit check

• More details

  Annual fee	$0
  Purchase APR	30.74% variable
  Balance transfer APR	30.74% variable Balance Transfer Fee applies to balances transferred at a promotional rate (0% at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you)
  Welcome Offer	N/A
  Rewards	None

Welcome Offer	n/a
Rewards	None
Annual fee	$0
Minimum credit score	New / limited credit

Go to site Terms apply, see rates & fees Read review

Cleo Credit Builder card

Go to site

The Cleo Credit Builder Card and membership can amount to a full all-in-one banking experience with credit-building opportunities. The Cleo Credit Builder card is backed by the Cleo account. To qualify for this card, you'll need a Cleo account and the Credit Builder paid membership for $14.99 per month — equivalent to about $180 yearly — and a deposit of at least $1. There's no hard credit pull and no interest charges, and Cleo reports to all three credit bureaus. The paid membership also gives you access to other features, such as cash advances, cashback rewards and challenges, a Cleo wallet and more. However, the membership cost makes this card more expensive than other options.

• Pros and cons

  Pros

  • Low $1 deposit
  • No APR and no hard credit pull
  • Reports to all three credit bureaus
  • Access to cash back, cash advances and more

  Cons

  • Requires $14.99 monthly fee
  • Requires Cleo account

• More details

  Annual fee	$179.88
  Balance transfer APR	N/A
  Welcome Offer	N/A
  Rewards	Up to 7% cash back

Welcome Offer	n/a
Rewards	Up to 7% cash back
Annual fee	$179.88
Minimum credit score	300

Go to site

Self Secured Visa® Credit Card

4

★★★★★

Finder score

Go to site Read review

With a low minimum deposit of $100, the Self Visa Credit card doesn't have any credit score requirements or hard credit checks. To get this card, you must first open a Credit Builder Account, make three payments on the account and save at least $100 — that's where the $100 deposit comes from. Then, you can apply for the Self Visa Credit card and choose your credit limit. In short, the Credit Builder account secures the credit card, and you'll need to have saved at least $100 to get the line of credit. While it takes some time to set up, the lack of credit check might be worth it. It's also worth noting that the APR is surprisingly low at 29.24% to 28.24% variable, as most credit cards without a credit check can charge APRs well above 30%. But there's a $25 annual fee.

• Pros and cons

  Pros

  • No hard credit pull
  • Low $100 deposit
  • Fair APR

  Cons

  • Requires opening Credit Builder Account
  • No rewards program
  • One-time $9 administrative fee

• More details

  Annual fee	$25
  Purchase APR	29.24% variable
  Balance transfer APR	N/A
  Welcome Offer	N/A
  Rewards	None

Partner terms and conditions

Self Visa® Credit Card issued by Lead Bank, First Century Bank, N.A., or SouthState Bank, N.A., each Member FDIC. See Self.inc for details.

Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., SouthState Bank, N.A., First Century Bank, N.A., each Member FDIC. Subject to credit approval.

Active Credit Builder Account in good standing, 3 on-time payments, $100 or more in savings progress, and satisfy income requirements. Requirements are subject to change.

Sample loans: $25/mo, 24 mos, $9 admin fee, 15.92% APR; $35/mo, 24 mos, $9 admin fee, 15.97% APR; $48/mo, 24 mos, $9 admin fee, 15.72% APR; $150/mo, 24 mos, $9 admin fee, 15.88% APR. See self.inc/pricing

Welcome Offer	n/a
Rewards	None
Annual fee	$25
Minimum credit score	300

Go to site Read review

Discover it® Secured

4.4

★★★★★

Finder score

A top secured card option, the Discover It card requires a security deposit of at least $200. While not as low as other options, this card offers 2% cash back up to $1,000 at gas stations and restaurants, unlimited 1% on all other purchases and unlimited dollar-for-dollar match for all cash back earned in the first year. After seven months, Discover evaluates your payment history, and if you made all your payments on time, your security deposit is refunded. However, you'll have to watch out for the APR, which is 28.24% for purchases, and there's a hard credit pull.

• Pros and cons

  Pros

  • 1% to 2% cash back
  • Cashback match in first year
  • Can earn deposit back

  Cons

  • 28.24% purchase APR
  • Requires $200 deposit
  • Hard credit check

• More details

  Annual fee	$0
  Purchase APR	28.24% variable
  Balance transfer APR	10.99% intro for the first 6 months (then 27.99% variable) Balance transfer fee of 3%
  Welcome Offer	Discover will match cash back earned at the end of your first card year
  Rewards	Up to 2% cash back

Welcome Offer	Other
Rewards	Up to 2% cash back
Annual fee	$0
Minimum credit score	300

Chime® Credit Builder Secured Visa® Credit Card

4.8

★★★★★

Finder score

Go to site See terms and conditions

Chime is a financial technology company, not a bank. The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.
To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
*Out-of-network ATM withdrawal and OTC advance fees may apply. View the Bancorp agreement or Stride agreement for details; see back of card for issuer.

Chime is a fintech company with banking services provided by its partner banks. To qualify for the Chime Credit Builder card, you must have Chime's Spending account and make direct deposits of at least $200 per month. However, there's no upfront cash deposit required. The balance in your Chime account acts as your credit limit on the Credit Builder Card, so you can only spend what you have. There are also no interest charges, no annual fees and Chime won't check your credit. Also, Chime doesn't use ChexSystems, so your banking history isn't a factor in approval odds for its accounts. And Chime's checking doesn't have any monthly or annual fees.

• Pros and cons

  Pros

  • 0% APR and $0 annual fees
  • No hard credit pull
  • Doesn't check ChexSystems report

  Cons

  • $200 in monthly direct deposits
  • Requires Chime Checking Account
  • No rewards program

• More details

  Annual fee	$0
  Purchase APR	N/A
  Balance transfer APR	N/A
  Welcome Offer	N/A
  Rewards	None

Partner terms and conditions

Chime is a financial technology company, not a bank. The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.
To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
*Out-of-network ATM withdrawal and OTC advance fees may apply. View the Bancorp agreement or Stride agreement for details; see back of card for issuer.

Welcome Offer	n/a
Rewards	None
Annual fee	$0
Minimum credit score	300

Go to site See terms and conditions

Chime is a financial technology company, not a bank. The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.
To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
*Out-of-network ATM withdrawal and OTC advance fees may apply. View the Bancorp agreement or Stride agreement for details; see back of card for issuer.

Can secured credit cards with no deposit help with bad credit?

Yes, they can — provided the bank or fintech reports to the credit bureaus and you make payments on time they’re a good option if you want to improve your credit. The plus side of secured cards backed by a bank account is that your account balance determines your credit limit, and your credit utilization ratio isn’t reported to the credit bureaus, but your payment history is.

Most credit-building cards, like Fizz and Current, offer autopay to help with timely payments. Secured credit cards also tend to have less stringent credit score requirements when applying, and many debit-credit cards don’t check your credit history. If your goal is to build your credit score, get a card that reports to all three major credit bureaus, as this will help maximize your chances of recovery.

Second chance credit cards with no deposits

Second chance credit cards are designed for those with lower credit scores who can’t qualify for other cards. These are traditional unsecured credit cards, so they won’t require a cash deposit but have less stringent credit score requirements.

Upgrade Cash Rewards Visa®

3.3

★★★★★

Finder score

Go to site Terms apply, see rates & fees

Though it's not a real credit card, Upgrade's Cash Rewards card can work like one. Offering a 0% intro APR and 14.99% to 29.99% APR after that, a 1.5% cashback rewards rate, and a credit line between $500 to $25,000, it's a good starter card or one you can use to improve your credit score. This card works a little differently than regular credit cards and can be thought of as getting a line of credit you repay with mini installment loans. If approved, you can use the card to make purchases and earn cash back, and then you repay your balance in equal installments like a personal loan. This card can also accept those with credit scores as low as 600. There's no annual fee or security deposit, but you'll have to endure a hard credit pull when you apply.

• Pros and cons

  Pros

  • 0% intro APR and $0 annual fee
  • No security deposit
  • Accepts 600+ credit scores

  Cons

  • Hard credit pull required
  • APR up to 29.99%
  • Requires monthly installment payments

• More details

  Annual fee	$0
  Purchase APR	14.99% to 29.99% variable
  Balance transfer APR	14.99% to 29.99% variable
  Welcome Offer	$200 bonus after opening a Rewards Checking account and making 3 debit card transactions
  Rewards	Up to 1.5% cash back

Partner terms and conditions

Terms apply, see rates & fees

To qualify for the welcome bonus, you must open and fund a new Rewards Checking Plus account through Upgrade and make 3 qualifying debit card transactions from your Rewards Checking Plus account within 60 days of the date the Rewards Checking Plus account is opened. If you have previously opened a checking account through Upgrade or do not open a Rewards Checking Plus account as part of this application process, you are not eligible for this welcome bonus offer. Your Upgrade Card and Rewards Checking Plus account must be open and in good standing to receive a bonus. To qualify, debit card transactions must have settled and exclude ATM transactions. Please refer to the applicable Upgrade VISA® Debit Card Agreement and Disclosures for more information. Welcome bonus offers cannot be combined, substituted, or applied retroactively. The bonus will be applied to your Rewards Checking Plus account as a one-time payout credit within 60 days after meeting the conditions.

Welcome Offer	$200
Rewards	Up to 1.5% cash back
Annual fee	$0
Minimum credit score	600

Go to site Terms apply, see rates & fees

Credit One Bank® Platinum Visa® for Rebuilding Credit

3.5

★★★★★

Finder score

Designed to help you rebuild your credit history, Credit One's Platinum Visa accepts credit scores as low as 500. This card offers 1% cash back on gas, groceries, and things like phone and cable bills. There are also limited-time offers with up to 10% cash back on eligible purchases. Credit One will review your payment history regularly to see if you qualify for a credit line increase. The annual fee is $75 for the first year and $99 after that, which is standard for rewards credit cards. There's no security deposit since this is an unsecured credit card, and the minimum credit line is $300. However, the APR isn't great at 29.24%, so be sure to repay your balance on time to avoid excessive interest charges.

• Pros and cons

  Pros

  • Can accept 500+ credit scores
  • Credit line increases available
  • 1% to 10% cashback rewards

  Cons

  • $75 first year annual fee
  • 29.24% variable APR

• More details

  Annual fee	$0 to $99
  Purchase APR	29.24% variable
  Balance transfer APR	N/A
  Welcome Offer	N/A
  Rewards	Up to 1% cash back

Welcome Offer	n/a
Rewards	Up to 1% cash back
Annual fee	$0 to $99

Petal® 1 "No Annual Fee" Visa® Credit Card

4.5

★★★★★

Finder score

Petal is a top card for turning around a bad credit score or a great starter card, as there's no security deposit, annual fee or foreign transaction fees. Cashback rewards range from 2% to 10% at eligible merchants, which isn't a given with most other starter cards. Petal accepts a variety of credit scores, ranging from no credit to fair or credit scores from 580 and up. The credit limit is decent as well, ranging from $300 to $5,000, and you could become eligible for credit line increases with timely payments, but there's no set timeline for these increases. The APR is okay, and depending on your creditworthiness, you may get a variable APR from 25.24% to 34.74%.

• Pros and cons

  Pros

  • Accepts low to fair credit
  • 2% to 10% cash back
  • No security deposit
  • No annual fee

  Cons

  • APR can reach 34.74%

• More details

  Annual fee	$0
  Purchase APR	25.24% to 34.74% variable
  Balance transfer APR	N/A
  Welcome Offer	N/A
  Rewards	Up to 10% cash back

Welcome Offer	n/a
Rewards	Up to 10% cash back
Annual fee	$0
Minimum credit score	550

Do second-chance credit cards come with guaranteed approval?

Nothing is guaranteed with credit cards. Even if a provider states they won’t check your credit score, they’re still likely to look at other factors, such as your income, other debts and work history, to be sure you can repay the card.

While no credit check cards are likely to have a higher approval rate than those that require good credit, you’ll still have to meet some other requirements to be approved.

Bottom line

A variety of secured, unsecured and unique credit card options are available for those of all credit types and lifestyles. Rewards, travel and second-chance credit cards are abundant, and for more options, compare the best credit cards.