What banks offer secured credit cards?

One of the best secured credit cards with a low deposit is the Capital One Platinum Secured Credit Card because new cardholders may be able to put down either $49, $99 or $200 and still get a $200 credit line, which would make the card only partially secured. And there’s a $0 annual fee.… read full answer

Other secured cards don’t have the potential to be quite as cheap, but there are a few really good options with a $200 minimum deposit. That’s still pretty low compared to several secured cards that ask for $300-$500+.

Here are some good secured credit cards with low deposits:

$49, $99 or $200 minimum deposit. $0 annual fee and $0 foreign transaction fee. $200 starting credit limit.

$200 minimum deposit. $0 annual fee and 3% foreign transaction fee.

$200 minimum deposit. $35 annual fee. 3% foreign transaction fee. No credit check when you apply.

$200 minimum deposit. 1.5% cash back on every purchase. $0 annual fee. $0 foreign transaction fee.

Capital One Platinum Secured doesn’t guarantee a low deposit, but it does offer the chance of one. If your credit is toward the bottom of the bad credit range, you’ll probably still have to put down a $200 deposit. But the higher your credit score is, the better chance you’ll have of being assigned a low deposit.

The best high limit secured credit card is the U.S. Bank Secured Visa® Card. You can put down a security deposit of up to $5,000 to receive a credit limit of the same amount. The card is available to people with bad credit and it has a $0 annual fee. The regular APR is 25.49% (V).… read full answer

With almost all secured credit cards, your credit limit is the same amount as the security deposit you put down. There is another high limit secured credit card that lets you deposit as much as $5,000: the Harley-Davidson® Secured Credit Card. But several others allow limits in the thousands. The OpenSky® Secured Visa® Credit Card lets you deposit up to $3,000 and doesn’t even do a credit check when you apply. And there are a few other high limit secured credit cards of note.

Best High Limit Secured Credit Cards

• $5,000 maximum limit: U.S. Bank Secured Visa® Card. $300 minimum deposit. $0 annual fee.
• $5,000 maximum limit: Harley-Davidson® Secured Credit Card. $300 minimum deposit. $0 annual fee.
• $3,000 maximum limit: OpenSky® Secured Visa® Credit Card. $200 minimum deposit. $35 annual fee. No credit check when you apply.
• $3,000 maximum limit: Merrick Bank Classic Secured Credit Card. $200 minimum deposit. Annual fee: $36 1st yr, $0 after that.
• $2,500 maximum limit: Discover it® Secured Credit Card. $200 minimum deposit. $0 annual fee. 2% cash back on $1,000 spent per quarter at restaurants and gas stations combined. 1% back on everywhere else. First year’s cash back matched.
• $2,500 maximum limit: Citi® Secured Mastercard®. $200 minimum deposit. $0 annual fee.

So, there are plenty of high limit secured credit cards that will give you a few thousand dollars to work with. Just keep in mind that you’ll have to deposit as much as you want credit limit-wise. But the deposit is fully refundable when you close the card with a zero balance.