You can get a credit card without credit history or a deposit, but your options and limits depend on your age and income
A credit card without a deposit requirement exists, but it is rare and usually comes with a catch: either a very high interest rate, a very low credit limit, or both. The more common path is a secured credit card, which does require a cash deposit — typically $200 to $2,500 — but that deposit is yours to keep and withdraw later. If you want to avoid a deposit entirely, you are looking at cards designed for people rebuilding credit or first-time cardholders, and they tend to come with annual fees, high APRs, or both.
The fastest way forward depends on whether you have any income at all. If you do, you have options. If you do not, a secured card is usually your only realistic path, because lenders need some way to know you can pay them back.
Key Takeaways
- Secured credit cards require a deposit but let you build credit from scratch; the deposit stays in your account and earns interest while you use the card.
- Unsecured cards for no-credit borrowers exist but typically charge annual fees of $25 to $99 and APRs above 20%, making them expensive to carry.
- Student credit cards and cards from credit unions may accept you without credit history if you have a student ID or membership, and often charge lower fees than mainstream no-credit cards.
- Your credit limit on any first card will be low — usually $300 to $500 — and will only increase after you make on-time payments for several months.
- Becoming an authorized user on someone else's established credit card can build your credit history without explore for your own card, though you do not control the account.
Secured credit cards: deposit required, but you own the money
A secured credit card works like this: you deposit cash into a savings account held by the card issuer, and that deposit becomes your credit limit. If you deposit $500, your limit is $500. You then use the card like any other credit card — make purchases, pay a monthly bill, build a payment history. The deposit stays in the account and typically earns a small amount of interest. If you stop paying, the issuer can take the money from the deposit, but otherwise it is yours.
Secured cards are the most straightforward way to build credit from zero because lenders have collateral. Most issuers report your payment history to all three credit bureaus (Equifax, Experian, TransUnion), so on-time payments actually improve your credit score. After 6 to 18 months of consistent payments, many issuers will convert your card to an unsecured card and return your deposit.
Common issuers of secured cards include Capital One, Discover, and many credit unions. Interest rates on secured cards typically range from 18% to 24%, which is high but standard for this category. Some charge annual fees ($0 to $39), and some do not. The deposit requirement means you need access to that cash upfront, but it is not gone — it is held in reserve.
Unsecured cards for no-credit borrowers: no deposit, but higher costs
If you want to avoid a deposit, unsecured cards marketed to people with no credit history do exist. Cards like the Chime Credit Builder Card, the Mission Lane Visa, or the Self Visa Card do not require a deposit. However, they come with trade-offs that make them more expensive to use than a secured card.
Most unsecured no-credit cards charge an annual fee between $25 and $99. Many also charge an APR above 20%, and some charge additional fees for late payments, foreign transactions, or even inactivity. Your credit limit will be very low — often $300 or less — and will not increase quickly. The card issuer is taking on more risk by not holding a deposit, so they offset that risk with fees and higher interest rates.
These cards make sense only if you cannot access a deposit for a secured card, or if you want to avoid the psychological barrier of locking money away. If you have the cash for a deposit, a secured card is almost always the better financial choice because the interest rate is usually lower and there are fewer surprise fees.
Student credit cards and credit union cards: lower barriers if you may have access to
If you are a full-time student, a student credit card may accept you without a credit history. Cards like the Discover Student Card or the Capital One Student Card are designed for people in school and often waive the deposit requirement. You will need a valid student ID and proof of enrollment. Interest rates are still high (typically 18% to 22%), but annual fees are often waived for students.
Credit unions also tend to be more flexible with first-time cardholders than large banks. If you are a member of a credit union, ask whether they offer credit-builder cards or secured cards with lower deposit minimums. Credit union rates and fees vary widely by institution, so it is worth calling and asking directly rather than checking online, because credit unions often do not advertise these products widely.
Becoming an authorized user: building credit without your own card
If someone you trust — a parent, spouse, or close relative — has an established credit card with a good payment history, you can ask them to add you as an authorized user. You do not need to explore or have a credit check. The primary cardholder straightforward contacts the issuer and requests that you be added to the account.
As an authorized user, the account's payment history reports to your credit file. If the primary cardholder makes on-time payments, your credit score can improve without you having to may have access to for your own card or put down a deposit. You may or may not receive a physical card in your name — that is up to the primary cardholder — and you may or may not have the ability to make charges.
The downside is that you do not control the account. If the primary cardholder misses a payment or carries a high balance, your credit score suffers too. This works best with someone whose financial habits you know well and trust completely. It is also a temporary solution; eventually, you will want your own card to build an independent credit history.
What to expect: credit limits, interest rates, and the path forward
Your first credit card — whether secured or unsecured — will come with a low credit limit. Most issuers start new cardholders with $300 to $500, regardless of the deposit amount. This is intentional; the issuer wants to limit their risk while they watch your payment behavior.
Your credit limit will increase only after you demonstrate a pattern of on-time payments. Most issuers review accounts after 6 months, and some will increase your limit without you asking. Others require you to request an increase. Do not expect a significant jump; increases of $100 to $200 are typical for the first year.
Interest rates on first-time cards are always high — 18% to 26% is normal. This is why carrying a balance is expensive. If you charge $500 and pay only the minimum, you will pay interest every month until the balance is gone. The best strategy is to charge small amounts you can pay off in full each month, so interest never accrues. This builds your credit score and costs you nothing.
Comparing your options: secured vs. unsecured vs. authorized user
| Option | Deposit Required | Annual Fee | Typical APR | Best For |
|---|---|---|---|---|
| Secured card | Yes ($200–$2,500) | $0–$39 | 18%–24% | Building credit from zero; deposit is refundable |
| Unsecured no-credit card | No | $25–$99 | 20%–26% | No access to deposit; willing to pay higher fees |
| Student card | No | Often $0 | 18%–22% | Full-time students with valid ID |
| Credit union card | Varies | Varies | Varies | Credit union members; often lower rates than banks |
| Authorized user | No | No | N/A | Building credit without your own account; requires trusted primary cardholder |
How to use your first card to actually build credit
Getting approved for a card is only the first step. How you use it determines whether your credit score improves or stays flat. The three things that matter most are: payment history (35% of your score), credit utilization (30%), and length of credit history (15%).
Make every payment on time, even if it is just the minimum. A single late payment can drop your score significantly and will stay on your report for seven years. Set up automatic payments if you can, so you never miss a due date by accident.
Keep your balance low relative to your limit. If your limit is $500, try not to carry a balance above $150. This shows lenders you can manage credit responsibly. The lower your utilization, the better your score.
Keep the card open even after you pay off the balance. Closing old accounts can hurt your score because it reduces your average account age and your total available credit. Use the card occasionally — a small charge every few months — to keep it active.
Frequently Asked Questions
Can I get a credit card with no credit and no deposit?
Yes, but the cards available are expensive. Unsecured cards for no-credit borrowers exist, but they typically charge annual fees of $25 to $99 and APRs above 20%. A secured card is almost always cheaper in the long run, even though it requires a deposit, because the deposit is refundable and the interest rate is usually lower.
What happens to my deposit if I miss a payment?
The card issuer can use your deposit to cover missed payments, but they usually will not do so when ready. Most issuers will charge you a late fee and report the late payment to credit bureaus first. If you fall far enough behind, they may take the deposit. Read your card agreement to understand the exact terms.
How long does it take to convert a secured card to unsecured?
Most issuers convert secured cards to unsecured after 6 to 18 months of on-time payments. Some do it automatically; others require you to request it. When conversion happens, your deposit is returned to you, usually within 7 to 10 business days. Check your issuer's specific policy before you open the account.
Does being an authorized user actually build my credit?
Yes, if the primary cardholder makes on-time payments. The account history reports to your credit file, and you benefit from their good payment behavior. However, if they miss payments or carry a high balance, your credit score suffers too. This only works if you trust the primary cardholder completely.
What credit score do I need to get a credit card?
Secured cards and unsecured no-credit cards do not require a credit score because you do not have one yet. They require income or proof of ability to pay, but not a score. Student cards require a valid student ID. Once you have a credit score, it typically needs to be 300 or higher to may have access to for any card, though most mainstream cards require 600 or higher.