Chase offers two secured credit cards for people building or rebuilding credit

Yes, Chase offers secured credit cards through two main products: the Chase Secured Visa and the Chase Slate Secured. Both require a cash deposit that becomes your credit limit, and both report to the three major credit bureaus. The main difference is that Chase Slate Secured includes a $0 annual fee and an introductory 0% APR period on purchases, while Chase Secured Visa has a $95 annual fee but may be easier to open if you have limited credit history.

Chase secured cards are designed to help you build a credit history or recover from past credit problems. As you make on-time payments, you demonstrate creditworthiness to Chase and other lenders. After 6 to 18 months of responsible use, Chase may upgrade you to an unsecured card and return your deposit, though this is not may provide.

Key Takeaways

  • Chase Slate Secured has no annual fee and includes a 0% introductory APR on purchases for the first 60 days, making it the lower-cost entry point for most people.
  • Chase Secured Visa charges $95 per year but may accept applications from people with very limited credit history or recent negative marks.
  • Your cash deposit becomes your credit limit, ranging from $200 to $2,500 depending on the card and your circumstances.
  • On-time payments and low credit utilization are reported to credit bureaus and can improve your credit score over time.
  • Chase may convert your secured card to an unsecured card after 6 to 18 months of good payment history, returning your deposit.

Chase Slate Secured: No annual fee, introductory 0% APR

Chase Slate Secured is the entry-level secured card from Chase. It has no annual fee, which means your entire deposit works toward your credit limit without being eaten by yearly costs. The card also includes a 0% introductory APR on purchases for the first 60 days, giving you a window to make purchases without interest charges if you need to carry a balance while building credit.

After the introductory period ends, the variable APR ranges from 18.99% to 24.99%, depending on your creditworthiness at the time of approval. Your deposit can range from $200 to $2,500, and that amount becomes your credit limit. Chase reports your account activity to Equifax, Experian, and TransUnion, so responsible use directly affects your credit score.

The main trade-off with Chase Slate Secured is that it is designed for people with limited credit history or recent credit problems. If you have an existing relationship with Chase or a stronger credit profile, you may be directed toward Chase Secured Visa instead during the process process.

Chase Secured Visa: Higher annual fee, broader approval

Chase Secured Visa charges a $95 annual fee, but it may be easier to open if you have had recent negative credit events or very little credit history. The card has a variable APR of 18.99% to 24.99% after approval, with no introductory rate period. Your deposit ranges from $200 to $2,500 and becomes your credit limit.

The $95 annual fee is deducted from your available credit, so if you deposit $500, your usable credit limit becomes $405. This is an important distinction—you are paying for the card out of the deposit itself, not out of pocket. Like Chase Slate Secured, this card reports to all three credit bureaus and can help you build credit through on-time payments.

Chase Secured Visa may be the right choice if you have been declined for Chase Slate Secured or if you want a card from a major issuer despite a weaker credit profile. However, the annual fee makes it more expensive over time, so compare the cost against other secured cards from issuers like Capital One or Discover if you are shopping around.

Deposit requirements and credit limits

Both Chase secured cards require a cash deposit held in a savings account at Chase. This deposit is not a fee—it is your own money held as collateral. The deposit becomes your credit limit, so a $500 deposit gives you a $500 limit (or $405 after the annual fee on Chase Secured Visa).

Minimum deposits start at $200, and maximum deposits go up to $2,500. Chase may allow you to increase your deposit later, which would increase your credit limit. You can also request a credit limit increase without adding more money, though this depends on your payment history and creditworthiness.

Your deposit earns a small amount of interest while it is held, though the rate is minimal—typically 0.01% APY or less. The deposit is separate from your monthly payment and remains untouched as long as your account is open and in good standing. If you close the account or default on payments, Chase may use the deposit to cover unpaid balances.

How to move from secured to unsecured

Chase does not automatically convert secured cards to unsecured cards. Instead, you must request a conversion, and Chase will review your account history to decide whether to approve it. The timeline varies—some cardholders see conversion offers after 6 months, while others wait 18 months or longer.

To increase your chances of conversion, make every payment on time, keep your balance low (ideally below 10% of your credit limit), and use the card regularly. Chase looks at your payment history, credit utilization, and overall creditworthiness. If you are approved for conversion, your deposit is returned to your linked savings account, and you receive a new unsecured card with a new credit limit (which may be higher or lower than your deposit amount).

If Chase denies your conversion request, you can reapply after a few months of continued good payment behavior. There is no penalty for requesting conversion, and you can keep using the secured card while you wait. Some people choose to keep their secured card even after conversion, since it has no annual fee (Chase Slate Secured) or to maintain a longer credit history.

Comparing Chase secured cards to other issuers

Chase is not the only issuer offering secured cards. Capital One Secured Mastercard, Discover Secured, and other banks also offer secured products. The main reasons to choose Chase are brand recognition, the option of no annual fee (Chase Slate Secured), and the possibility of conversion to an unsecured card with a higher limit.

Capital One Secured Mastercard charges a $39 annual fee and has a lower APR range (18.9% to 24.9%), but it is often easier to open if you have very poor credit. Discover Secured has no annual fee and offers cash back rewards (1% on all purchases), which Chase secured cards do not provide. The trade-off is that Discover may have stricter approval requirements.

If you are choosing between Chase and another issuer, consider your credit score, how much you want to deposit, and whether rewards matter to you. If you have an existing Chase checking or savings account, opening a secured card with Chase may be simpler since you already have a linked account for the deposit.

What happens if you miss a payment

Missing a payment on a Chase secured card has the same consequences as missing a payment on any credit card. Late payments are reported to the credit bureaus and can damage your credit score. A payment 30 days late appears on your credit report and stays there for seven years. Payments 60 or 90 days late cause more severe damage.

If you miss a payment, Chase will charge late fees (typically $25 to $35 for the first late payment, up to $38 for subsequent ones) and may increase your APR to a penalty rate. If you fall significantly behind, Chase may close your account and use your deposit to cover the unpaid balance. This defeats the purpose of building credit, so setting up automatic payments or calendar reminders is essential.

If you are struggling to make a payment, contact Chase before the due date. They may be able to work with you on a payment plan or hardship arrangement, though this is not may provide. Proactive communication is better than silence, which leads to late fees and credit damage.

Frequently Asked Questions

Can I get a Chase secured card if I have no credit history?

Yes. Secured cards are designed for people with no credit history or limited credit. Chase Slate Secured is the easier option, but Chase Secured Visa may also accept you. You will need to be at least 18 years old, a U.S. citizen or permanent resident, and have a valid Social Security number. A checking or savings account at Chase makes the process simpler.

How long does it take to build credit with a Chase secured card?

Credit building is gradual. You should see small improvements within 30 to 60 days of opening the account and making on-time payments. Larger improvements typically take 6 to 12 months of consistent, responsible use. The exact timeline depends on your starting credit score and how much of your available credit you use each month.

What is the difference between a secured card and a prepaid card?

A secured card requires a deposit and reports to credit bureaus, helping you build credit. A prepaid card is funded upfront but does not report to credit bureaus and does not help your credit score. Secured cards have interest rates and fees; prepaid cards typically do not. If your goal is to build credit, a secured card is the right tool.

Can I use my Chase secured card abroad?

Yes, both Chase secured cards are Visa cards and work internationally wherever Visa is accepted. However, Chase charges a 3% foreign transaction fee on purchases made outside the United States. If you travel frequently, this fee adds up, so factor it into your decision.

What happens to my deposit if I close the account?

If you close the account in good standing (no unpaid balance or late payments), Chase returns your deposit to your linked savings account within 7 to 10 business days. If you have an unpaid balance, Chase uses the deposit to cover it and returns any remainder. If you default on the account, Chase keeps the deposit to offset the debt.