Chase offers secured credit cards, but only through specific products
Chase does not currently market a dedicated secured credit card under its own brand. However, Chase issues the Capital One Secured Mastercard through a partnership, and you can also build credit with Chase's standard products if you have a deposit account with them. The most direct path to a secured card from Chase is to open a Chase checking or savings account first, then ask about credit-building options tied to that relationship.
A secured credit card requires you to put down a cash deposit that becomes your credit limit. You use the card like a regular credit card, make monthly payments, and the bank reports your activity to the credit bureaus. After 6 to 18 months of on-time payments, many issuers convert you to an unsecured card and return your deposit.
If you have poor credit or no credit history, a secured card is one of the few ways to get a card in your name and start building a payment record. Chase's approach differs from other banks because they emphasize their checking and savings products as the foundation for credit access.
Key Takeaways
- Chase does not offer its own branded secured credit card, but you can access secured card products through partnerships or by establishing a deposit account relationship first.
- A secured card requires a cash deposit that matches your credit limit, and you pay interest on purchases just like a regular card.
- Chase may offer credit-building products to existing checking or savings customers, so opening a deposit account can open doors to credit products.
- The Capital One Secured Mastercard is available to Chase customers and requires a deposit between $200 and $2,500.
How a secured credit card works at Chase
When you open a secured card, you deposit money into a savings account held by the bank. That deposit amount becomes your credit limit—if you deposit $500, your limit is $500. You then use the card to make purchases, and you pay a monthly bill just like you would with a regular credit card. The deposit sits untouched in the background; it is not automatically used to pay your bill.
You will pay interest on any balance you carry, just as you would on an unsecured card. Most secured cards also charge an annual fee, which varies by product. The key difference is that the bank has your deposit as collateral, so they are willing to issue a card to someone with limited or damaged credit history.
Chase reports your payment history to all three credit bureaus—Equifax, Experian, and TransUnion. On-time payments build your credit score over time. Late payments, high balances, or missed payments will hurt your score, just as they would with any credit card.
What Chase requires to open a secured card
Chase typically requires you to be at least 18 years old, have a valid Social Security number or ITIN, and pass a background check. They will pull your credit report, so you will see a hard inquiry on your credit file. This inquiry may lower your score slightly, but the impact is temporary.
You will need to provide a government-issued ID and proof of address. Chase may also ask about your income and employment, though secured cards are designed for people with lower incomes or poor credit, so these requirements are usually flexible.
If you are applying for a secured card through Chase's partnership with Capital One, you will apply directly through Capital One's website or through Chase's banking portal if you are an existing customer. The deposit must be made upfront, usually by transferring funds from a Chase checking account or by providing a debit card.
Deposit amounts and credit limits
The Capital One Secured Mastercard, available to Chase customers, requires a minimum deposit of $200 and a maximum of $2,500. Your deposit equals your credit limit. If you deposit $500, you get a $500 limit. If you later want to increase your limit, you can add more money to your deposit account.
Some secured cards allow you to graduate to an unsecured card without increasing your deposit. Others require you to add more money if you want a higher limit. Chase's terms depend on which product you use and your payment history over time.
The deposit is held in a separate savings account and earns little to no interest. It remains yours—the bank cannot take it to pay your bill or cover late payments. The only way you lose the deposit is if you default on the card and the bank uses it to cover the debt, which is rare if you make regular payments.
Annual fees and interest rates
Secured cards typically charge an annual fee between $25 and $99. The Capital One Secured Mastercard charges an annual fee, though the exact amount varies based on your creditworthiness at the time of approval. Some versions charge $39 or $49 per year.
Interest rates on secured cards are higher than rates on unsecured cards. You can expect an APR (annual percentage rate) between 18% and 24%, depending on your credit profile and current market rates. This means if you carry a balance of $500 for a full year without paying it down, you will owe roughly $90 to $120 in interest charges alone.
To avoid interest charges, pay your full balance each month. This also helps your credit score, because credit bureaus look at your payment history and your credit utilization ratio—the percentage of your limit you are using. Keeping your balance below 30% of your limit is ideal for credit building.
Timeline to convert to an unsecured card
Most secured cards convert to unsecured cards after 6 to 18 months of on-time payments. The exact timeline depends on the issuer and your credit improvement. Capital One, for example, may review your account after 6 months and convert you if your payment history is clean and your credit score has improved.
When you convert, the bank returns your deposit to you. You keep the card, but it is now unsecured, meaning there is no deposit backing it. Your credit limit may stay the same or increase, depending on your payment history and credit score at the time of conversion.
You do not have to wait for automatic conversion. If your credit score improves significantly, you can contact Chase or Capital One and ask to be converted early. Some issuers will do this; others will not. There is no harm in asking.
Alternatives if Chase secured cards do not work for you
If you cannot meet Chase's requirements or do not want to use a secured card, other banks offer secured cards with different terms. Discover, Capital One (directly), and US Bank all offer secured cards. Some have lower minimum deposits or different fee structures.
Another option is a credit-builder loan, offered by credit unions and some online lenders. You borrow a small amount of money—usually $500 to $1,000—and the lender holds it in a savings account while you make monthly payments. Once you pay off the loan, you get the money back and have built a payment history. This approach does not give you a card, but it builds credit faster for some people.
If you already have a Chase checking or savings account, ask a Chase banker directly whether you are may be able to access for any credit products. Existing customers sometimes have access to products not advertised to the general public, or they may be able to move to an unsecured card more quickly.
Frequently Asked Questions
Can I use a secured card to build credit if I have no credit history?
Yes. Secured cards are designed for people with no credit history or poor credit. As long as you make on-time payments, the card issuer reports to the credit bureaus, and your score will begin to build. Most people see a noticeable improvement within 6 to 12 months of consistent payments.
What happens if I miss a payment on a secured card?
A missed payment is reported to the credit bureaus and will hurt your credit score. The bank may charge a late fee, typically $25 to $40. If you miss multiple payments, the bank may close your account and use your deposit to cover the debt. Always pay at least the minimum by the due date.
Can I withdraw my deposit while the card is still active?
No. The deposit must remain in the account as long as the card is open. You can withdraw it only after the card is closed or converted to an unsecured card. Some issuers allow you to add to your deposit to increase your credit limit, but you cannot reduce it.
Do I need a Chase bank account to get a Chase secured card?
It depends on the product. If you are applying for the Capital One Secured Mastercard through Chase, having a Chase checking account may make the process faster or give you access to better terms. If you do not have a Chase account, you can still apply directly through Capital One, though you may not see it promoted through Chase's website.
How long does it take to get approved for a secured card?
Approval typically takes 1 to 3 business days. Once approved, the card arrives by mail within 7 to 10 business days. You can usually activate it online or by phone as soon as it arrives, and you can start using it immediately.