Can I put $5,000 on a secured credit card? This question is about Secured Credit Cards

Yes, you can put $5,000 on a secured credit card if the card’s maximum security deposit amount is at least that high. Most secured cards do not allow deposits of $5,000 and above, though there are some cards like the Chime Credit Card and the Secured Sable ONE Credit Card that will. Both of these secured cards permit deposits up to a maximum of $10,000. Popular Secured Credit Cards with High Maximum Deposit Amounts $5,000: U.S. Bank Secured Visa® Card $5,000: Navy Federal Credit Union nRewards® Secured Credit Card $5,000: Harley-Davidson® Secured Credit Card $10,000: Chime Credit Card $10,000: Secured Sable ONE Credit Card $25,000: Wells Fargo Business Secured Credit Card Secured credit cards are designed for people with bad credit , so you will have to put up a refundable security deposit to serve as collateral on the account. Usually, the amount of your deposit also becomes your credit limit. In some cases, if you manage your account responsibly, you may be eligible for a credit limit increase without adding any money to your deposit.

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Can I put $5,000 on a secured credit card?

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This question is about Secured Credit Cards

Chip Lupo, Credit Card Writer

@CLoop • 05/10/22 This answer was first published on 05/10/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Yes, you can put $5,000 on a secured credit card if the card’s maximum security deposit amount is at least that high. Most secured cards do not allow deposits of $5,000 and above, though there are some cards like the Chime Credit Card and the Secured Sable ONE Credit Card that will. Both of these secured cards permit deposits up to a maximum of $10,000.

Popular Secured Credit Cards with High Maximum Deposit Amounts

$5,000: U.S. Bank Secured Visa® Card
$5,000: Navy Federal Credit Union nRewards® Secured Credit Card
$5,000: Harley-Davidson® Secured Credit Card
$10,000: Chime Credit Card
$10,000: Secured Sable ONE Credit Card
$25,000: Wells Fargo Business Secured Credit Card

Secured credit cards are designed for people with bad credit, so you will have to put up a refundable security deposit to serve as collateral on the account. Usually, the amount of your deposit also becomes your credit limit. In some cases, if you manage your account responsibly, you may be eligible for a credit limit increase without adding any money to your deposit.

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Putting More Money on Your Secured Credit Card: Things to Know

Some credit card issuers require that you make additional deposits, up to the maximum amount allowed before the account opens.… read full answer

There might be a cap as to how much you can deposit. So, it’s always better to check your card’s deposit limits with the issuer.

If you make several consecutive timely payments, some issuers may increase your limit without an additional deposit.

Keep in mind that the amount of your deposit determines your credit limit. At the same time, the deposit serves as collateral for the issuer should you default on the account.

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