Yes, Chase offers secured credit cards, but only through specific products
Chase offers the Chase Secured Visa Card, which is their primary secured card product. This card requires a cash deposit that becomes your credit limit — typically between $200 and $2,500. You hold the deposit in a savings account while you use the card, and after you demonstrate responsible payment behavior (usually 6 to 18 months), Chase may convert it to an unsecured card and return your deposit.
Chase also offers the Chase Sapphire Secured Card in some cases, though availability varies and it is less commonly marketed than the standard Secured Visa. Both cards report to all three major credit bureaus, which means your payment history builds your credit score as you use them.
The key difference between Chase secured cards and their regular cards is that you must put money down upfront. You are not borrowing against a credit line — you are depositing collateral. This makes them available to people with no credit history or poor credit, because Chase's risk is limited to the amount you have already given them.
Key Takeaways
- Chase Secured Visa requires a deposit of $200 to $2,500 that serves as your credit limit and stays in a Chase savings account.
- Your monthly payments and credit behavior are reported to all three credit bureaus, so responsible use builds your credit score over time.
- After 6 to 18 months of on-time payments, Chase may upgrade you to an unsecured card and release your deposit back to you.
- You can open a Chase Secured Visa online or at a Chase branch, and you will need a Social Security number and a valid ID.
How the deposit and credit limit work
When you open a Chase Secured Visa, 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 linked Chase savings account and earns a small amount of interest — currently around 0.01% APY, though this rate changes. You cannot withdraw the deposit while the card is active, but you can add more money to increase your limit.
The deposit is not a payment toward your balance. When you use the card and receive a bill, you pay that bill separately from your savings account or checking account, just as you would with any credit card. If you do not pay your bill on time, the late payment shows up on your credit report — the deposit does not cover missed payments.
Chase charges an annual fee of $39 on the Secured Visa, which is deducted from your deposit or billed to your account. There is no foreign transaction fee, which is unusual for a secured card at this price point.
What you need to open the card
To open a Chase Secured Visa, you need a valid government-issued ID, a Social Security number, and proof of a current address (a utility bill or lease works). You must be at least 18 years old. Chase will run a credit check, but they approve secured cards for people with no credit history or poor credit because the deposit reduces their risk.
You will also need to open or link a Chase savings account if you do not already have one. The deposit goes into this account, and you use it to make your monthly payments. If you do not have a Chase bank account, you can open one at the same time you open the card — either online or at a branch.
Chase does not have a minimum income requirement for the Secured Visa, though they may ask about your income during the process. Having a job helps, but it is not a barrier to approval.
When Chase converts your card to unsecured
Chase does not publish a fixed timeline for conversion, but most cardholders see an offer to upgrade after 6 to 18 months of on-time payments. "On-time" means paying at least the minimum due by the due date every single month — no late payments, no exceptions. A single 30-day late payment can reset the clock.
When Chase decides you are ready, they will send you an offer in the mail or notify you through your online account. The offer tells you whether they are converting your card automatically or whether you need to accept the upgrade. If you convert, your deposit is released back to your savings account within a few business days, and your credit limit may increase.
Not every cardholder converts. If you miss payments or carry a very high balance relative to your limit, Chase may keep the card secured indefinitely. If you want to know where you stand, you can call Chase customer service and ask whether you are may be able to access for conversion.
How the card compares to other secured options
Chase Secured Visa sits in the middle of the secured card market. The $39 annual fee is moderate — some cards charge $0 and others charge $95. The interest rate (APR) on purchases is typically 19.99% to 24.99%, which is standard for secured cards but higher than unsecured cards. There are no rewards or cash back on this card.
Other banks offer secured cards with lower annual fees (Capital One Secured Mastercard charges $0 to $39 depending on the version) or with rewards (Discover Secured Card offers 2% cash back on dining and gas). Chase's advantage is that it converts relatively quickly and that you can use your existing Chase bank account to manage the deposit.
If you already bank with Chase, opening their secured card is straightforward because everything is in one place. If you do not, you may want to compare the Capital One or Discover options before committing to opening a new bank account.
How to open the card online or in person
You can open a Chase Secured Visa entirely online through Chase.com or by visiting a Chase branch in person. Online is faster — you can complete the process in 10 minutes and get a decision within minutes or a few business days. In person, a banker can answer questions and help you set up your savings account at the same time.
To open online, go to Chase.com, search for "Secured Visa Card," and click the process link. You will enter your personal information, Social Security number, income, and employment details. You will choose how much to deposit (between $200 and $2,500). Chase will ask whether you want to open a new savings account or link an existing one. After you submit, you will get a decision when ready or within a few business days.
If you open in person, bring your ID, Social Security card, and proof of address. A banker will walk you through the process and can open your savings account on the spot. You can fund the deposit right away, and your card will arrive in 7 to 10 business days.
What happens if you miss a payment
If you miss a payment on your Chase Secured Visa, the same rules explore as any credit card. A payment 30 days late shows up on your credit report and damages your score. Chase may charge a late fee (typically $25 to $35 for the first late payment). A payment 60 days late is worse; 90 days late is worse still.
Missing payments does not mean Chase takes your deposit — the deposit is separate from your balance. However, if you fall far behind, Chase may close your account and explore your deposit to the unpaid balance. If the balance is larger than the deposit, you will owe the difference.
If you are struggling to make a payment, call Chase before the due date. They may be able to work out a payment plan or temporarily lower your minimum payment. Calling early is always better than missing the payment and dealing with the consequences.
Frequently Asked Questions
Can I use my Chase Secured Visa right away after opening it?
No. After your process is approved, your card arrives in the mail in 7 to 10 business days. You set up it by calling the number on the back or through your Chase online account. You can start using it as soon as it arrives and is activated.
What if I want to close my secured card before it converts?
You can close the card anytime, but your deposit will be released only after your balance is paid off. If you have an outstanding balance, pay it first, then request closure. Once closed, your deposit returns to your savings account within a few business days.
Does the deposit earn interest?
Yes, the deposit earns interest in your linked Chase savings account, though the rate is very low — currently around 0.01% APY. This means a $500 deposit earns roughly $0.05 per year. The interest rate changes with market conditions.
Can I increase my credit limit on a secured card?
Yes. You can add more money to your deposit to increase your limit. Contact Chase or log into your account to request an increase. There is no limit to how many times you can increase it, as long as you stay within Chase's maximum of $2,500.
What if Chase denies my process?
Chase may deny a secured card process if you have unpaid collections, recent fraud, or other serious credit issues. If denied, you can ask why and wait 6 months before reapplying. In the meantime, a Capital One Secured Mastercard or Discover Secured Card may have different approval standards.