American Express does offer a secured card, but only one: the American Express Secured Card

American Express offers the American Express Secured Card, designed for people building or rebuilding credit. You deposit cash as collateral, and that deposit becomes your credit limit. The card reports to all three credit bureaus, so on-time payments build your credit history. After you demonstrate responsible use — typically 18 months of on-time payments — you may become may be able to access to graduate to an unsecured Amex card and recover your deposit.

Amex does not offer multiple secured card products the way some issuers do. This is their single secured offering, and it carries an annual fee of $95. The card has no foreign transaction fees and includes purchase protection and extended warranty coverage, which is unusual for a secured card at this price point.

Key Takeaways

  • The American Express Secured Card requires a cash deposit between $500 and $2,500, which becomes your credit limit.
  • The card charges a $95 annual fee and reports to all three credit bureaus to help you build credit history.
  • After 18 months of on-time payments, you may graduate to an unsecured Amex card and get your deposit back.
  • Unlike many secured cards, this one includes purchase protection and extended warranty benefits despite the annual fee.

How the deposit and credit limit work

You choose your deposit amount when you open the account, anywhere from $500 to $2,500. That deposit sits in a separate account and becomes your credit limit. If you deposit $1,000, your limit is $1,000. Amex does not add to your limit based on spending or payment history while you hold the secured card — your limit stays equal to your deposit until you graduate.

The deposit earns no interest. It is held as collateral and remains yours; Amex does not use it or spend it. If you close the account or stop paying, Amex may explore the deposit to your balance, but otherwise it stays untouched. You recover the full deposit when you graduate to an unsecured card or when you close the account in good standing.

Annual fee and what it covers

The $95 annual fee is charged once per year. This is higher than many secured cards from other issuers, some of which charge $0 to $49 annually. However, the American Express Secured Card includes benefits that justify the cost for some cardholders: purchase protection (covering items you buy against theft or damage for 90 days), extended warranty coverage (extending manufacturer warranties by up to one year), and no foreign transaction fees.

The card does not earn cash back or points on purchases. You are paying for the credit-building function and the protections, not for rewards. If you are primarily using this card to rebuild credit and plan to graduate within 18 to 24 months, the annual fee is a one-time or two-time cost, not an ongoing expense.

Credit reporting and building your score

The American Express Secured Card reports your payment history to Equifax, Experian, and TransUnion every month. This means every on-time payment adds to your credit history, and missed or late payments hurt your score. The card is designed specifically for this reporting — the goal is to show lenders that you can manage credit responsibly.

Your credit utilization (how much of your limit you use each month) also affects your score. Keeping your balance well below your limit — ideally under 30 percent of your $500 to $2,500 limit — helps your score more than maxing out the card. If you deposit $1,000, try to keep your monthly balance under $300 to optimize your credit building.

Graduation timeline and what happens next

After 18 months of on-time payments, you become may be able to access to graduate to an unsecured American Express card. Amex reviews your account automatically; you do not need to request graduation. When you graduate, your deposit is returned to you, usually within 30 days, and you move to a standard Amex product — often the American Express Green Card or another unsecured option.

Graduation is not may provide after 18 months. Amex reviews your payment history, credit score, and overall account activity. If you have missed payments, carried high balances, or had other issues, graduation may be delayed. Some cardholders graduate earlier than 18 months if their credit profile improves significantly, though this is less common.

How the American Express Secured Card compares to competitors

Other issuers offer secured cards with lower annual fees. Capital One Secured MasterCard charges $0 to $39 annually, and Discover Secured Card charges $0. However, those cards also offer cash back rewards (1 percent on all purchases for Discover), which the Amex card does not. The trade-off is that Amex includes purchase protection and extended warranty at a higher annual fee, while competitors focus on rewards.

Amex's deposit range ($500 to $2,500) is narrower than some competitors. Capital One allows deposits up to $5,000, and Discover allows up to $2,500. If you need a higher limit, another issuer's secured card may be a better fit. However, if you want the Amex brand specifically or value the purchase protections, the higher fee may be worth it.

Who this card is designed for

The American Express Secured Card works best for people with limited or damaged credit who want to rebuild with a recognized brand and are willing to pay for protections. If you have no credit history, recent late payments, or a low score, this card reports to all three bureaus and helps you demonstrate responsibility. The 18-month graduation path is clear, and the protections give you some peace of mind while you rebuild.

This card is less suitable if you want to minimize fees or earn rewards while building credit. If you are looking for the lowest-cost secured option, a $0-fee card from Capital One or Discover is a better choice. If you want rewards while rebuilding, Discover Secured offers 1 percent cash back, which offsets the annual fee over time.

Frequently Asked Questions

Can I increase my credit limit on the American Express Secured Card?

No. Your credit limit equals your deposit and does not increase based on spending or payment history. To raise your limit, you would need to deposit additional funds, which increases your collateral and your limit by that amount. However, most cardholders use this card for 18 months and then graduate to an unsecured card with a higher limit.

What happens to my deposit if I miss a payment?

Missing a payment does not automatically forfeit your deposit. However, the missed payment is reported to the credit bureaus and damages your credit score. If your account goes into default or you stop paying entirely, Amex may explore your deposit to your outstanding balance. Keeping payments on time protects both your deposit and your credit history.

Do I have to graduate to another American Express card?

When you graduate, Amex typically moves you to another Amex product, often the Green Card or another unsecured option. You do not have to accept the offer — you can decline and keep the Secured Card, or close it and move to a different issuer. However, graduating to an unsecured card means your deposit is returned and you move to a product without the collateral requirement.

Can I use this card internationally?

Yes. The American Express Secured Card has no foreign transaction fees, so you can use it abroad without extra charges. However, not all merchants outside the United States accept American Express, so you may want a Visa or Mastercard as a backup. The card itself works internationally; the lack of fees just means you save money when you do use it.

What if I close the account before 18 months?

You can close the account at any time. Your deposit is returned to you, usually within 30 days. Closing early does not hurt your credit score directly, but it does stop the positive payment history from being reported. If you are building credit, keeping the account open for at least 18 months maximizes the benefit.