Is there a Chase secured credit card?

Yes, you can be denied for a secured credit card, but it’s typically avoidable by choosing the right card to apply for. Secured credit cards are much easier to get than unsecured cards because they require a refundable deposit that also serves as your credit limit. Because there’s less risk for the issuer, secured cards are able to offer nearly guaranteed approval, even to people with damaged credit. But that doesn’t mean everyone is accepted. The … read full answermost common reasons people are denied for a secured credit card are having a bankruptcy or tax lien on their credit report, not having enough income to meet their monthly obligations, and having an extremely low credit score. Past delinquencies with the issuing bank, current delinquencies anywhere, and invalid application information could all be reasons as well.

The specifics vary by card, though. Some secured credit cards don’t even check your credit when you apply. So you’ll only be denied if you don’t have a U.S. mailing address, a Social Security number or Individual Taxpayer Identification Number, or enough money to fund your deposit.

With that being said, if you’ve already been denied for a secured card, you will receive a rejection letter explaining why. And that will help you determine what to do next.

Here’s what to do if you were denied for a secured credit card:

• Apply somewhere else: Just because you didn’t meet one credit card company’s requirements doesn’t necessarily mean you’re disqualified from every secured card on the market. And if your credit is already damaged, another hard inquiry shouldn’t be too big of a concern.
• Become an authorized user: If someone adds you to their account as authorized user, you’ll get a card and be able to make charges, but the primary cardholder will be responsible for paying them. And if they pay on time, your credit standing will improve.
• Get a co-signer: Bank of America and Wells Fargo both allow you to get a credit card with a co-signer. The co-signer is legally responsible for payment if you default, and it’s their credit rather than yours that determines acceptance.
• Focus on your open accounts: If you have a mortgage, student or auto loan, or an open line of credit, making your payments on time will help build up your credit score.
• Apply for a credit builder loan: Many credit unions and banks offer small loans to help people build or rebuild their credit. Much like a secured card, you’ll need to make a deposit when you apply for one.

If you were denied for a secured credit card, don’t lose hope. Just get one of the several secured cards with no credit check. Signing up for WalletHub’s free credit analysis can help you get back on track as well.

More than 30 banks and credit unions offer secured credit cards, including 7 of the 12 largest credit card issuers.

Here are the major banks that offer secured credit cards:

• Bank of America
• Capital One
• Citi
• Discover
• USAA (Visa and Amex)
• U.S. Bank
• Wells Fargo
  

A number of smaller banks and credit unions offer secured credit cards, too. They include Capital Bank, First Progress and Green Dot, among others. The major banks that do not offer secured cards are American Express, Barclaycard, Chase, PNC and Synchrony Bank.… read full answer
But remember, it’s not a secured credit card’s issuer that really matters. Your goal should be to find the card with the lowest possible annual fee, no matter who offers it. And you can achieve that goal by comparing secured credit cards using WalletHub's free comparison tool. You can also try our free CardAdvisor to get a personalized recommendation based on your answers to a few simple questions.