Best low deposit
Capital One Platinum Secured Credit Card
Capital One · Secured
- Annual fee
- $0
- Purchase APR
- 29.99%
- Deposit
- from $49
- Min. score
- 300
No rewards programme
Approval odds
Good
Best overall secured card
Discover it® Secured Credit Card
- Annual fee
- $0
- Purchase APR
- 27.24%
- Min. deposit
- $200
- Credit needed
- Poor to Fair
Your approval odds
Fair · 55%
Rewards: 2% at gas stations & restaurants (up to $1,000/quarter), 1% everywhere else
Welcome offer: Unlimited Cashback Match — Discover matches all cash back earned in your first year
What works
- $0 annual fee
- Rewards on gas and dining
- Clear, automatic path to an unsecured card
- Free FICO® Score on statements and online
What to watch
- Requires a refundable security deposit of at least $200
- Discover is less widely accepted outside the U.S.
- No option to pay the deposit in instalments
The full terms
| Annual fee | $0 |
|---|---|
| Purchase APR | 27.24% variable |
| Security deposit | $200 – $2,500 |
| Credit limit | $200 – $2,500 |
| Minimum score | 500+ (Poor to Fair) |
| Foreign transaction fee | None |
| Reports to | Experian, Equifax, TransUnion |
| Upgrade path | Automatic reviews starting at month 7 for transition to an unsecured line |
| Pre-qualification | Not offered |
Who this card suits
Discover it® Secured Credit Card is aimed at people in the poor to fair range. As a secured card you'll put down a refundable deposit of at least $200, which becomes your credit line. That deposit is what makes approval realistic when your score is low — the issuer isn't taking a risk.
Using it to actually raise your score
- Pay on time, every time. Payment history is the biggest single factor in your FICO score. Set autopay for at least the minimum.
- Keep utilisation low. Stay under 30% of your limit, ideally under 10%. On the starting limit of $200 that's $60 and $20 respectively.
- Don't chase more cards yet. Every application is a hard inquiry. Let this one age.
- Watch for the review. Automatic reviews starting at month 7 for transition to an unsecured line Keep the account clean until then.
Before you apply. Rates, fees and deposit requirements are set by the issuer and change often. Confirm the current terms on the issuer's own application page — the figures here were last reviewed 2026-08-24 and are not a guarantee of the terms you'll be offered.
Also consider
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Capital Bank N.A. · Secured
- Annual fee
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- Purchase APR
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- Deposit
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Best for fast approval
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- Annual fee
- $29
- Purchase APR
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- Deposit
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Approval odds
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