Yes, Chase offers the Chase Secured Credit Card
Chase does offer a secured credit card called the Chase Secured Credit Card. It requires a cash deposit that becomes your credit limit — typically between $200 and $2,500 — and you use it like a regular card. The deposit stays in a savings account at Chase while you carry the card and make purchases.
This card is designed for people building or rebuilding credit. Chase reports your payment history to all three credit bureaus (Equifax, Experian, and TransUnion), so on-time payments help raise your credit score over time. After you demonstrate responsible use — usually 6 to 18 months of on-time payments — Chase may convert it to an unsecured card and return your deposit.
The card charges an annual fee of $0, which is unusual for secured cards. Most competitors charge $25 to $99 per year. Chase also offers a rewards rate of 1% cash back on all purchases, meaning you earn money back while you build credit.
Key Takeaways
- The Chase Secured Credit Card requires a cash deposit between $200 and $2,500 that becomes your spending limit.
- You pay no annual fee and earn 1% cash back on all purchases, which is competitive for a secured card.
- Chase reports to all three credit bureaus, so consistent on-time payments will show up on your credit report.
- After 6 to 18 months of responsible use, Chase may upgrade you to a regular unsecured card and return your deposit.
How the deposit and credit limit work
When you open the Chase Secured Credit Card, you choose how much to deposit, and that amount becomes your credit limit. If you deposit $500, your limit is $500. The deposit sits in a Chase savings account earning a small amount of interest, but you cannot touch it while the card is active — it serves as collateral in case you stop paying.
You do not pay interest on the deposit itself. You only pay interest on purchases you make with the card if you carry a balance month to month. The deposit is separate from your monthly bill.
Starting with a smaller deposit ($200 to $500) is common if you are new to credit or rebuilding. You can request a higher limit later by adding more to your deposit, though Chase will not automatically increase it based on good payment behavior the way unsecured cards do.
What happens to your deposit when you graduate
Chase does not have a set timeline for converting your card to unsecured. The bank reviews your account periodically and looks at factors like payment history, how long you have held the card, and your overall credit behavior. Some cardholders report conversion after 6 months; others wait 18 months or longer.
When Chase converts your card, they close the secured account and open a new unsecured account. Your deposit is returned to you — usually within 5 to 7 business days — and your credit limit on the new card may be higher or the same as your deposit amount. Your credit score and payment history during the secured period determine the new limit.
You can also request conversion by calling Chase customer service. They will review your account and tell you whether you are may be able to access. Requesting early does not hurt, but Chase makes the final decision based on their internal criteria.
Comparing Chase to other secured card options
Chase's main advantage is the zero annual fee and 1% cash back. Most other secured cards charge $25 to $99 per year and offer no rewards or only 0.5% cash back. Capital One Secured Mastercard and Discover Secured Card are the most common alternatives.
Capital One Secured Mastercard charges a $29 annual fee (or $99 depending on your deposit amount) and offers no cash back. Discover Secured Card charges no annual fee and offers 2% cash back on purchases at gas stations and restaurants and 1% on everything else — higher than Chase — but Discover is not accepted everywhere Mastercard is.
Chase's card is accepted more widely because it is a Mastercard. If you plan to use your card internationally or at smaller merchants, Mastercard acceptance matters. If you want the highest cash back rate and shop mostly at gas stations and restaurants, Discover may be better despite narrower acceptance.
How to open the Chase Secured Credit Card
You can open the card online at Chase.com or at a Chase branch in person. Online, you will need your Social Security number, date of birth, address, and income information. Chase will run a credit check (a hard inquiry that briefly lowers your credit score by a few points) and tell you within minutes whether you are approved.
If approved, you choose your deposit amount and fund it immediately from a Chase checking or savings account, or by transferring money from another bank. The card typically arrives within 7 to 10 business days. You can start using it as soon as it arrives.
If you do not have a Chase bank account, you can open one at the same time or fund the deposit from an external account. Some people open a Chase checking account first to build a relationship with the bank, which may help with future credit decisions, though it is not required.
Interest rates, fees, and terms to know
The Chase Secured Credit Card has a variable APR (annual percentage rate) for purchases. The exact rate depends on your creditworthiness and current market rates, but secured cards typically carry higher APRs than unsecured cards — often 18% to 24%. This is normal because you are rebuilding credit.
There is no annual fee, no foreign transaction fee, and no penalty APR (a higher rate for late payments). Late fees are $25 to $35 depending on how late you are. If you miss a payment by 60 days or more, Chase may close your account and apply your deposit to the debt.
The card has no grace period for cash advances, meaning you pay interest immediately if you withdraw cash. Avoid cash advances — they are expensive and do not help your credit score the way regular purchases do.
When Chase Secured might not be your best option
If you have a very low credit score or recent negative marks (late payments, collections, bankruptcy), Chase may deny you. Chase's approval standards are stricter than some competitors like Capital One, which specializes in approving people with poor credit. Check your credit report first at AnnualCreditReport.com to see what Chase will see.
If you cannot afford a deposit right now, a secured card is not an option. You need the cash available to lock up. If you need credit immediately and cannot wait 7 to 10 days for the card to arrive, a secured card will not help — you need a card you can use right away, which usually means an unsecured card or a store card.
If you plan to carry a balance and pay interest, the higher APR on a secured card makes it expensive. Secured cards are meant to be paid in full each month while you build credit. If you cannot do that, focus on paying down existing debt before opening a new card.
Frequently Asked Questions
Can I use my Chase Secured Card internationally?
Yes. As a Mastercard, it works at most merchants and ATMs worldwide. Chase charges no foreign transaction fee, which is unusual and valuable. You will get the Mastercard exchange rate, which is typically better than what your bank offers for currency conversion.
What happens if I miss a payment?
A late payment is reported to the credit bureaus and damages your credit score. If you are 30 days late, Chase charges a late fee ($25 to $35) and may raise your APR. If you are 60 days late, Chase may close your account and use your deposit to pay the debt. Contact Chase immediately if you cannot pay on time.
Can I increase my credit limit without adding more money?
Not automatically. Your limit is tied to your deposit. To raise your limit, you must deposit more money into the account. After conversion to an unsecured card, Chase may increase your limit based on your payment history, but that happens after you graduate.
How long does it take to build credit with this card?
You will see changes within 30 to 60 days if you make on-time payments, because Chase reports to the bureaus monthly. Meaningful score improvement usually takes 6 to 12 months of consistent, on-time payments. The longer your payment history, the more it helps your score.
What if Chase denies me?
Ask Chase why you were denied — they will tell you if it was due to credit score, income, or another factor. If your credit score is very low, Capital One Secured Mastercard or Discover Secured Card may approve you. If income was the issue, reapply when your income increases. Do not apply to multiple cards in a short time, as each application lowers your score slightly.