Yes, Chase offers secured credit cards, but only through specific products
Chase does offer a secured credit card: the Chase Secured Visa Card. This card requires a cash deposit that becomes your credit limit, typically ranging from $200 to $2,500. The deposit stays in a savings account at Chase while you use the card, and you make monthly payments just like any other credit card.
However, Chase's secured card selection is narrower than some competitors. If you are looking for a secured card from a major bank, Chase has one main option. Other banks like Capital One, Discover, and U.S. Bank each offer multiple secured card products with different features and deposit requirements.
The Chase Secured Visa Card is designed for people rebuilding credit or establishing a credit history for the first time. It reports to all three credit bureaus, so on-time payments build your credit score over time. After you demonstrate responsible use—typically 6 to 18 months of on-time payments—you may be able to convert to an unsecured card and recover your deposit.
Key Takeaways
- Chase's secured card requires a cash deposit between $200 and $2,500 that serves as your credit limit.
- The deposit sits in a Chase savings account and earns interest, but you cannot touch it while the card is active.
- Monthly payments and account activity report to all three credit bureaus, building your credit history with on-time use.
- After 6 to 18 months of responsible payments, you may convert to an unsecured card and get your deposit back.
- Chase charges an annual fee for this card, which varies and should be confirmed before opening an account.
How the Chase Secured Card deposit works
When you open the Chase Secured Visa Card, you deposit money into a linked savings account at Chase. That deposit amount becomes your credit limit—if you deposit $500, your limit is $500. You cannot withdraw the deposit while the card is active, and Chase holds it as collateral against the credit risk you represent as a new or rebuilding borrower.
The deposit earns interest at the rate Chase offers on its savings accounts at the time you open the account. Interest rates on savings accounts change frequently, so the rate you earn depends on when you open the account and Chase's current rates. You do not pay interest on the card balance itself if you pay in full each month, but you do pay interest on any balance you carry, just like a regular credit card.
The minimum deposit is $200, and the maximum is $2,500. If you want a higher credit limit, you would need to deposit more money—up to that $2,500 cap. Some people open multiple secured cards to build more total credit, though that approach has trade-offs in how it affects your credit score.
What happens to your deposit when you convert to an unsecured card
Chase does not automatically convert your secured card to an unsecured card. You have to request the conversion, and Chase reviews your account history to decide whether to approve it. The bank typically looks at whether you have made all payments on time, kept your balance low relative to your limit, and maintained the account for at least 6 months—though some accounts take longer.
When Chase approves your conversion, your deposit is released back to you. You can have it transferred to your Chase checking or savings account, or you can withdraw it. At that point, your card becomes a regular unsecured credit card with a new credit limit that Chase sets based on your payment history and credit profile. The new limit may be higher or lower than your original deposit amount.
If Chase denies your conversion request, you keep the secured card and can request again later. There is no penalty for asking, and your account continues to report to the credit bureaus. Some people stay on secured cards longer than necessary because they are not aware they can request a conversion, so it is worth asking Chase directly about your account's status after 12 months of on-time payments.
Annual fees and other costs to know
The Chase Secured Visa Card charges an annual fee. The exact amount varies and should be confirmed on Chase's website or by calling the bank directly, as fees change over time. This fee is separate from any interest you pay on a balance you carry. If you pay your full balance each month, you avoid interest charges but still pay the annual fee.
There are no foreign transaction fees on this card, which is useful if you travel internationally. Chase also does not charge late fees or over-limit fees, though making a late payment will hurt your credit score and may trigger a higher interest rate. If you miss a payment, Chase reports it to the credit bureaus just as any other bank would.
Some secured cards offer rewards or cash back, but the Chase Secured Visa Card does not. You earn no points or cash back on purchases. This is typical for secured cards aimed at people rebuilding credit, since the focus is on demonstrating responsible payment behavior rather than earning rewards.
How to open a Chase Secured Card account
You can open a Chase Secured Visa Card online through Chase's website, by phone, or in person at a Chase branch. Online is usually the fastest route. You will need to provide your Social Security number, date of birth, address, and income information. Chase will run a credit check, though secured cards are designed for people with limited or damaged credit, so approval is more likely than with unsecured cards.
Once approved, you choose your deposit amount between $200 and $2,500. That money is transferred from your Chase checking or savings account to the linked savings account that secures the card. If you do not have a Chase account, you will need to open one first. The card itself typically arrives within 7 to 10 business days.
You can start using the card as soon as it arrives. Make purchases, pay your bill on time each month, and keep your balance low. The goal is to build a track record that shows you can handle credit responsibly, which takes time but is the whole point of a secured card.
Comparing Chase to other secured card options
Chase's secured card is one option, but it is not the only one. Capital One Secured Mastercard, Discover Secured Card, and U.S. Bank Secured Visa Card are other major-bank alternatives. Each has different deposit minimums, annual fees, and conversion timelines. Some offer cash back or rewards, while others do not.
Capital One's secured card has a $200 minimum deposit and no annual fee, which makes it cheaper to open than Chase. Discover's secured card also has no annual fee and offers 2% cash back on all purchases, which means you earn rewards while rebuilding. U.S. Bank's secured card has a $500 minimum deposit and charges an annual fee.
The best choice depends on your situation. If you want the lowest cost to start, Capital One or Discover may be better. If you already bank with Chase and want to keep everything in one place, the Chase card makes sense. If you are rebuilding credit and want to earn rewards while you do it, Discover is worth comparing. Check the current terms on each bank's website, since fees and features change.
What to expect after you get the card
Your first month with a secured card is straightforward: use it for small purchases, pay the bill in full or mostly in full, and repeat. The goal is to show Chase that you can manage credit responsibly. Do not max out your limit, do not miss payments, and do not apply for multiple new cards at once—each application triggers a credit inquiry that can lower your score temporarily.
After 6 to 12 months of on-time payments, your credit score should begin to improve. The exact timeline depends on your starting point and how much damage your credit history has. If you had no credit history before, improvement is usually faster. If you had late payments or collections, it takes longer.
Around the 12-month mark, contact Chase and ask about converting to an unsecured card. Have your account number ready and be prepared to discuss your payment history. If Chase approves, your deposit comes back and you move to a regular card. If not, keep using the secured card and ask again in 6 months. Either way, you are building credit with every on-time payment.
Frequently Asked Questions
Can I use my deposit as a down payment on something else?
No. Your deposit is locked in the savings account as long as the secured card is active. You cannot withdraw it, transfer it, or use it for anything else. This is what makes it "secured"—Chase holds it as collateral. You get it back only when you close the card or convert to an unsecured card.
What if I cannot make a payment on my Chase Secured Card?
Contact Chase immediately and explain your situation. Missing a payment will be reported to the credit bureaus and will damage your credit score. Chase may offer a hardship program or payment plan, but you have to ask. Do not ignore the bill—that makes things worse. If you default, Chase can use your deposit to cover the debt.
Does Chase Secured Card help me build credit faster than other cards?
No. All secured cards report to the credit bureaus the same way, so the speed of credit improvement depends on your payment history and overall credit profile, not which bank you choose. On-time payments matter more than the card itself. Some secured cards offer rewards, which can make the process feel more rewarding, but they do not build credit faster.
Can I increase my credit limit on the Chase Secured Card?
Yes, by increasing your deposit. You can add more money to the linked savings account, and your credit limit will increase by that amount, up to the $2,500 maximum. You cannot increase your limit without increasing your deposit—there is no way to get a higher limit without putting more money at risk.
What happens if I close the Chase Secured Card before converting?
Your deposit is returned to you, usually within 7 to 10 business days. However, closing the card can hurt your credit score because it reduces your total available credit and shortens your average account age. If you are rebuilding credit, it is usually better to convert to an unsecured card or keep the secured card open even after conversion, rather than closing it.