What Santander credit cards offer and who they're built for
Santander offers credit cards through its U.S. consumer banking division, with products aimed at people rebuilding credit, those with limited credit history, and customers seeking cash back or travel rewards. The cards vary in annual fees, interest rates, and rewards structures — some charge nothing annually, others charge $39 or more. Unlike cards from Chase or Capital One, Santander's lineup is smaller and less widely advertised, which means fewer people know the terms or how they compare.
The main Santander cards in circulation are the Santander Secured Credit Card (for people with poor or no credit history), the Santander Select Secured Credit Card (a step up with higher limits), and occasionally a cash back card for customers with established credit. Each one reports to all three credit bureaus, which means on-time payments build your credit score over time. The catch: most require a cash deposit upfront, and interest rates run higher than cards offered to people with excellent credit.
Key Takeaways
- Santander secured cards require a cash deposit that becomes your credit limit, ranging from $200 to $2,500 depending on the card.
- Annual percentage rates (APRs) on Santander cards typically fall between 16% and 24%, higher than rates for people with strong credit scores.
- The cards report to all three credit bureaus monthly, so consistent on-time payments can raise your credit score within 6 to 12 months.
- Santander may offer a path to an unsecured card after 12 to 18 months of responsible use, at which point your deposit is returned.
- You can open an account online or at a Santander branch, and the card typically arrives within 7 to 10 business days.
How secured cards work and why Santander uses them
A secured credit card requires you to 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 like any other credit card — make purchases, receive a bill, and pay it back. The deposit sits untouched unless you stop paying your bill; then the bank can use it to cover what you owe.
Santander uses this structure because it reduces the bank's risk when lending to people with poor credit or no credit history. You're essentially borrowing against your own money, which is why the bank will approve you even if you've defaulted before or have no credit file at all. The trade-off is that you tie up cash upfront and pay a higher interest rate than someone with a 750+ credit score would pay.
The deposit earns little to no interest — Santander's secured cards typically offer 0% APY on the deposit account. That means your $500 sits there earning nothing while you pay interest on purchases you make with the card. This is the cost of rebuilding or establishing credit through a secured product.
Santander card fees, interest rates, and rewards
Santander's secured cards charge an annual fee, though the amount varies by product. The Santander Secured Credit Card charges $39 per year; the Select Secured card may charge more. These fees are deducted from your account or added to your bill, so factor them into your decision. Over five years, a $39 annual fee costs $195 — money you could avoid by choosing a no-fee secured card from another bank.
Interest rates on Santander secured cards range from 16% to 24% APR, depending on your creditworthiness at the time you open the account. This is substantially higher than the 8% to 12% APR that people with good credit might receive. If you carry a balance, you'll pay significant interest charges. For example, a $500 balance at 20% APR costs $100 per year in interest alone.
Rewards are minimal or nonexistent on most Santander secured cards. Some versions offer 1% cash back on all purchases or bonus categories, but this is rare and usually only available to customers who've already graduated to an unsecured product. The focus of a secured card is rebuilding credit, not earning rewards — if rewards matter to you, you may want to wait until your credit improves and you can move to a different card.
How to move from a secured card to an unsecured card
Santander's stated path is that after 12 to 18 months of on-time payments, you may be considered for an unsecured card. At that point, your deposit is returned to you, and you keep the credit line (or receive a new one) without the security requirement. This is the main reason people open secured cards — to use them as a stepping stone.
The timeline varies. Some customers report being offered an upgrade after 12 months; others wait 18 to 24 months. Santander doesn't may provide an upgrade, and the decision depends on your payment history, credit score improvement, and the bank's lending criteria at that time. Missing even one payment can delay or prevent the upgrade.
When you're upgraded, your credit limit on the unsecured card may be the same as your deposit amount, or it may be higher. Santander will return your deposit within 5 to 7 business days after the upgrade is complete. At that point, you can close the secured card or keep it open to maintain a longer average account age, which helps your credit score.
Opening a Santander credit card and what to expect
You can open a Santander credit card online through Santander's website or by visiting a branch in person. The online process takes about 10 to 15 minutes. You'll need your Social Security number, date of birth, address, and income information. Santander will pull a hard inquiry on your credit report, which temporarily lowers your score by a few points.
Once approved, you'll fund the card by transferring money from a bank account to your Santander deposit account. This must be done before the card is activated. The card itself typically arrives within 7 to 10 business days. You can then begin using it for purchases.
If you're denied, Santander may offer you a lower deposit amount or suggest you reapply after a few months. There's no penalty for being denied, and you can try again later. Some people are approved when ready; others with very recent negative marks may need to wait.
Comparing Santander to other secured card options
Santander is one of several banks offering secured cards. Capital One Secured MasterCard, Discover Secured Card, and U.S. Bank Secured Visa are common alternatives. The differences matter:
| Card | Annual Fee | APR Range | Minimum Deposit | Rewards |
|---|---|---|---|---|
| Santander Secured | $39 | 16%–24% | $200 | None |
| Capital One Secured | $0 | 18%–24% | $200 | None |
| Discover Secured | $0 | 16%–24% | $200 | 1% cash back |
| U.S. Bank Secured | $0 | 18%–24% | $500 | None |
Capital One and Discover both charge no annual fee, which gives them an when ready advantage over Santander. Discover also offers 1% cash back, meaning you earn something while you rebuild. U.S. Bank requires a higher minimum deposit. If your only goal is to rebuild credit and you have no strong reason to bank with Santander, Capital One or Discover are often better choices purely on fee structure.
That said, if you already have a Santander checking account or prefer to keep your banking in one place, the $39 annual fee may be worth the convenience. The APR ranges are similar across all four cards, so that's not a differentiator.
What happens if you miss a payment or carry a balance
Missing a payment on a Santander credit card has the same consequences as missing a payment on any credit card: a late fee (typically $25 to $35), a higher interest rate, and a negative mark on your credit report. A payment 30 days late stays on your credit report for seven years and significantly damages your credit score.
If you miss a payment, Santander may use your deposit to cover it. This reduces your available credit and defeats the purpose of the card, which is to demonstrate you can handle credit responsibly. If you're struggling to make payments, contact Santander before the due date — some banks offer hardship programs or payment deferrals.
Carrying a balance (not paying off the full amount each month) means you pay interest. At 20% APR, a $300 balance costs $60 per year in interest. The best use of a secured card is to charge small amounts you can pay off in full each month, building a perfect payment history without accumulating debt.
Frequently Asked Questions
Can I get a Santander credit card if I have no credit history?
Yes. Santander's secured cards are designed for people with no credit file, recent defaults, or poor scores. You'll need a Social Security number, valid ID, and a bank account to fund the deposit. Approval is nearly automatic once you meet these basic requirements.
What's the difference between the Santander Secured and Select Secured cards?
The Select Secured card typically offers a higher maximum deposit limit and may have a lower APR range for people with slightly better credit. Both require a deposit and charge an annual fee. The Select is aimed at people who've begun rebuilding credit but aren't yet ready for an unsecured card.
How long does it take to rebuild my credit with a Santander card?
Most people see measurable improvement within 6 to 12 months of on-time payments. Your score rises faster if you keep your balance low (below 30% of your limit) and pay on time every month. After 12 to 18 months of good behavior, you may be offered an unsecured card.
Will Santander return my deposit if I close the card?
If you close the card while it's still secured, Santander will return your deposit, but you lose the credit line. If you've been upgraded to an unsecured card and then close it, there's no deposit to return. It's usually better to keep the secured card open even after upgrading, to maintain a longer credit history.
What if I want to increase my credit limit?
With a secured card, you increase your limit by increasing your deposit. You can deposit more money into your savings account, and Santander will raise your credit limit to match. There's no hard inquiry for a deposit increase, so it doesn't hurt your credit score.