Adam McCann, Financial Writer
Yes, you can put $10,000 on some secured credit cards. For example, the Chime Credit Card allows customers to put down a deposit of $200* to $10,000, in return for a spending limit equal to their deposit amount.
Secured Credit Cards That Let You Deposit $10,000 or More
A secured credit card is a type of credit card that requires you to put down a security deposit to secure the credit line. The amount of the security deposit typically becomes your credit limit, and you can use the card like a regular credit card to make purchases and build your credit history. Secured credit cards have a minimum deposit requirement, often as low as $200 to $300, and have a maximum deposit set by the issuer. The deposit is fully refundable when you close the account with a $0 balance.
It’s worth considering that if you have a high income that allows you to put down $10,000 on a secured card, you may have luck qualifying for an unsecured card that won’t tie up your cash until you close the account. To find the best card for your situation, you can compare credit cards on WalletHub.
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