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Secured credit cards with no deposit

Explore a variety of no deposit, low deposit and second chance secured credit cards.

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.

Step Black Card

4.3
★★★★★

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Welcome Offern/a
RewardsUp to 8% cash back
Annual feeSee terms
Minimum credit scoreNew / limited credit

Current Credit Building Card

4.6
★★★★★

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Welcome Offern/a
RewardsUp to 7% cash back
Annual fee$0
Minimum credit scoreNew / limited credit

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
★★★★★

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Welcome Offern/a
RewardsNone
Annual fee$0
Minimum credit scoreNew / limited credit

Cleo Credit Builder card

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Welcome Offern/a
RewardsUp to 7% cash back
Annual fee$179.88
Minimum credit score300

Self Visa® Credit Card

4
★★★★★

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Welcome Offern/a
RewardsNone
Annual fee$25
Minimum credit score300
The secured Self Visa® Credit Card is issued by Lead Bank or First Century Bank, N.A., each Member FDIC.

Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, 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.

$25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR. See self.inc/pricing.

Discover it® Secured

4.4
★★★★★

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Welcome OfferOther
RewardsUp to 2% cash back
Annual fee$0
Minimum credit score300

Chime® Credit Builder Secured Visa® Credit Card

4.8
★★★★★

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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 Offern/a
RewardsNone
Annual fee$0
Minimum credit score300
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
★★★★★

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Welcome Offer$200
RewardsUp to 1.5% cash back
Annual fee$0
Minimum credit score600
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.

Credit One Bank® Platinum Visa® for Rebuilding Credit

3.5
★★★★★

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Welcome Offern/a
RewardsUp to 1% cash back
Annual fee$0 to $99

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

4.5
★★★★★

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Welcome Offern/a
RewardsUp to 10% cash back
Annual fee$0
Minimum credit score550

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.

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To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.
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Editor, Banking

Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

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5 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?

    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?

      Default Gravatar
      nikkiangcoDecember 6, 2018

      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

    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

      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

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