How a secured card deposit works
A secured card asks for a refundable deposit that acts as collateral. Your credit limit usually equals the deposit, and deposits typically run $200–$2,000. Two points trip people up:
- The deposit doesn't pay your bill. You still owe the monthly payment, and the payment history is what builds your score.
- You get it back when you close the account in good standing or when the issuer upgrades you to an unsecured card, typically after 6–12 months of responsible use.
Some issuers give a higher line than the deposit. Capital One's $49 or $99 deposit for a $200 line is the best-known example.
Secured cards compared
| Card | Deposit | Annual fee | APR (as of October 2026) | Upgrade review |
|---|---|---|---|---|
| Capital One Platinum Secured | $49, $99 or $200 (up to $1,000) | $0 | 28.99% variable | Periodic; line increase considered in as little as 6 months |
| Capital One Quicksilver Secured | $200 minimum | $0 | 28.99% variable | With responsible use; no stated timeline |
| BofA Customized Cash Rewards Secured | $200–$5,000 | $0 | 27.49% variable | Automatic reviews; no stated timeline |
| BofA Unlimited Cash Rewards Secured | $200–$5,000 | $0 | 27.49% variable | Automatic reviews; no stated timeline |
| U.S. Bank Altitude Go Secured | $300–$5,000 | $0 | 28.74% variable | Possible automatic graduation |
| U.S. Bank Cash+ Secured | $300–$5,000 | $0 | 29.24% variable | After 12 months (CNBC Select) |
| Citi Secured Mastercard | $200–$2,500 | $0 | See Citi's site | Starting at 9 months, then every 12 months |
| OpenSky Plus Secured Visa | $300–$3,000 | $0 | 28.24% variable | After 6 months; invite to OpenSky Gold |
| OpenSky Secured Visa | $200–$3,000 | $35 | 23.89% variable | After 6 months; invite to OpenSky Gold |
| Self Visa | $100 minimum | $0 first year, then $25 | 27.49% variable | After 6 months; possible Self Plus |
Card terms change, so check the issuer's site before you apply.
Top picks
Capital One Platinum Secured: lowest deposit
If you qualify for the $49 or $99 deposit, you get a $200 line for less cash upfront than any other card here. You can also pay the deposit in installments of at least $20, with the full amount due within 35 days. No rewards, but no annual or foreign transaction fee. Full details in our Capital One Platinum Secured review.
Bank of America Customized Cash Rewards Secured: best rewards
Choose a 3% category (6% the first year), earn 2% at grocery stores and wholesale clubs, and 1% elsewhere. The 3% and 2% tiers share a $2,500 quarterly cap. A deposit of up to $5,000 lets you set a larger line, which can help keep utilization low.
U.S. Bank Altitude Go Secured: dining and everyday spending
Earn 4X points on dining (first $2,000 each quarter) and 2X on grocery, gas/EV charging and streaming. The deposit sits in a U.S. Bank secured savings account. The minimum is $300, higher than Capital One or Bank of America.
Citi Secured Mastercard: a published review schedule
Citi is one of the few issuers that states when it looks at graduation: starting at 9 months, then every 12 months. It is still offered on citi.com, even though some comparison sites no longer list it. There are no rewards.
OpenSky Plus Secured: no credit check
OpenSky Plus doesn't check your credit and doesn't require a bank account. The $300 deposit can be paid in installments over 60 days. After 6 months of responsible use you may be invited to the unsecured OpenSky Gold, which charges a $59 annual fee, so weigh that before accepting. Watch the 3% foreign transaction fee.
Other secured options worth knowing
- Chime Credit Builder: no minimum deposit, no interest and no credit check, but you need a Chime Checking Account. Chime says it does not report utilization, and the card does not graduate.
- Kikoff Secured Card: $50 minimum deposit, no annual fee, no credit check and 0% interest.
- Amazon Secured Card: a store-only option with a 10.00% APR on secured features and a review for the Amazon Store Card after 12 months. See store cards for bad credit.
Not available: Discover it Secured stopped taking new applications in June 2026, and existing accounts are moving to Capital One. Don't plan around it.
How to pick between them
- Short on cash: Capital One Platinum Secured, or Chime if you already bank there.
- Want rewards: Bank of America Customized Cash, U.S. Bank Altitude Go or Capital One Quicksilver Secured (1.5% back).
- Worried about denial: OpenSky Plus or Chime, which skip the credit check.
- Recent bankruptcy: any of the above can work after discharge; see rebuilding credit after bankruptcy.
Not sure a secured card is right? Compare costs in unsecured cards for bad credit, or see the full list of best cards for bad credit. Once you've graduated, a no-annual-fee cash back card is a natural next step.
Frequently Asked Questions
Yes. Secured cards that report to the bureaus show up like any other credit card account. What builds your score is paying on time and keeping your balance low relative to the limit.
No. The deposit is collateral and cannot be used to pay your monthly bill. You get it back when you close the account in good standing or when the issuer upgrades you to an unsecured card.
Among major banks, Capital One Platinum Secured is lowest: some applicants pay $49 or $99 for a $200 line. Chime Credit Builder has no minimum, but it works differently, since your spending limit is whatever you move into the secured account.
No. Discover stopped accepting new applications in June 2026, and existing cardholders are being moved to Capital One servicing between July 2026 and early 2027.
How does the deposit in a secured card work — Experian
Capital One Platinum Secured — Capital One
Capital One Quicksilver Secured — Capital One
Bank of America Customized Cash Rewards Secured review — Forbes Advisor
Bank of America Unlimited Cash Rewards Secured review — Forbes Advisor
U.S. Bank Altitude Go Secured — U.S. Bank
U.S. Bank Cash+ Secured review — CNBC Select
Citi Secured Mastercard — Citi
OpenSky Plus Secured review — NerdWallet
Discover cards moving to Capital One — NerdWallet
Card terms, rates and fees change often and APRs are variable. Information was checked in October 2026; confirm current terms on the issuer's website before applying. MoneyVerge may be compensated by some card issuers; this does not affect our assessments.