Bianca Smith, WalletHub Credit Cards Analyst
@bianca_stoian
The minimum deposit for a secured credit card is usually $200, as cards will rarely allow lower deposits. The deposit amount, which the credit card issuer holds as collateral to protect against non-payment, also acts as the card’s credit limit in most cases.
While most secured credit cards don’t accept deposits lower than $200, you will likely be allowed to put down more than the minimum required. Many secured credit cards also impose a maximum limit on deposits.
Minimum Deposit for Secured Credit Cards
It’s important to note that security deposits are fully refundable, as long as you don’t have any outstanding balance when the account is closed. The credit card issuer will also return the deposit if the card graduates to an unsecured version.
You can check out more secured credit cards and their minimum deposit amounts on WalletHub.

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