Yes, Chase offers secured credit cards, but only through specific products and with requirements you need to know upfront
Chase does not have a dedicated secured card with the word "secured" in its name the way some banks do. Instead, Chase offers the Chase Sapphire Secured Credit Card, which functions as a secured card but is marketed under the Sapphire brand. This card requires a cash deposit that becomes your credit limit — typically between $500 and $2,500 — and reports to all three credit bureaus each month.
The card is designed for people rebuilding credit or starting from scratch. You put down a deposit, use the card like a regular credit card, and after 6 to 12 months of on-time payments, Chase may convert it to an unsecured card and return your deposit. The catch is that Chase's secured offering is narrower than what you'll find at other banks, and it comes with an annual fee.
Key Takeaways
- Chase's secured card is the Chase Sapphire Secured Credit Card, which requires a cash deposit between $500 and $2,500 that serves as your credit limit.
- The card charges an annual fee (currently $39) and reports your payment history to all three credit bureaus each month to help rebuild your credit.
- After 6 to 12 months of on-time payments, Chase may upgrade you to an unsecured card and return your full deposit.
- Chase also offers other cards that may work for credit building without a deposit requirement, depending on your credit history and income.
How the Chase Sapphire Secured Card works
When you open the Chase Sapphire Secured Credit Card, you deposit cash into a savings account that Chase holds. That deposit amount becomes your credit limit. If you deposit $1,000, your limit is $1,000. You cannot withdraw the deposit while the card is active — it stays locked in the account.
You then use the card to make purchases, just like any other credit card. You receive a monthly statement, and you pay your bill by the due date. Chase reports every payment — on time or late — to Equifax, Experian, and TransUnion. This reporting is what builds your credit history. The card carries a $39 annual fee, charged to your account each year.
Your deposit earns interest, though the rate is typically very low (often less than 0.5% annually). The interest accrues in your savings account and is not applied to your credit card balance.
When Chase converts your card to unsecured
Chase does not may provide conversion to an unsecured card, but the bank states it reviews accounts after 6 months of on-time payments. "On-time" means paying at least the minimum due by the due date every single month. Late payments, even by a few days, can delay or prevent conversion.
If Chase approves conversion, you keep the same card number and account. Your deposit is returned to you — usually within 7 to 10 business days — and your credit limit may increase or stay the same depending on your payment history and income. The annual fee continues on the unsecured version.
If conversion does not happen after 12 months, you can request a review or close the account and retrieve your deposit. Closing the account does not hurt your credit score, but it does remove an active account from your credit history, which can have a small negative effect on your credit mix.
What you need to open the account
Chase requires a Social Security number, a valid government-issued ID, and proof of a current address (utility bill, lease, or bank statement dated within the last 60 days). You also need a checking or savings account with a U.S. bank to link for payments, though it does not have to be a Chase account.
Chase will pull your credit report, which results in a hard inquiry. This lowers your credit score by a few points temporarily. The bank does not publish a minimum credit score requirement for the Sapphire Secured Card, but it is generally available to people with limited or damaged credit history.
You must be at least 18 years old and a U.S. citizen or permanent resident with a valid Social Security number.
Comparing Chase to other secured card options
Chase's secured card is one option, but it is not the only one. Other banks offer secured cards with lower or no annual fees. The Capital One Secured Mastercard, for example, has no annual fee and reports to all three bureaus. The Discover it Secured Credit Card also has no annual fee and includes cash back rewards.
The trade-off is that Chase's Sapphire brand carries more prestige and may be easier to convert to an unsecured card. If you are rebuilding credit and want to minimize fees while you rebuild, a no-fee secured card from another bank might save you money. If you value the Sapphire brand or already bank with Chase, the $39 annual fee may be worth it to you.
Some people with limited credit also may have access to for Chase's unsecured cards without a deposit — such as the Chase Freedom Flex or Chase Freedom Unlimited — depending on their credit history and income. If you have any credit history at all, it is worth checking whether you may have access to for an unsecured card before committing to a secured deposit.
What happens to your credit score
Opening the card results in a hard inquiry, which typically lowers your score by 5 to 10 points. This effect fades over time. The real credit-building happens through the monthly reporting of your payment history. Each on-time payment is recorded and helps demonstrate that you can manage credit responsibly.
Your credit utilization — the percentage of your limit you use each month — also affects your score. If your limit is $1,000 and you charge $500, your utilization is 50%. Keeping utilization below 30% helps your score more than higher usage, even if you pay in full each month.
After 6 to 12 months of on-time payments, you should see your credit score rise noticeably. The exact amount depends on your starting score and credit history, but rebuilding typically takes 12 to 24 months to move from poor to fair credit.
Fees and costs to know about
The $39 annual fee is charged every year the card is open, whether it is secured or unsecured. There is no foreign transaction fee, which is useful if you travel. Late payment fees explore if you miss a due date — typically $25 to $35 depending on how late you are. Cash advance fees are 5% of the amount withdrawn (minimum $10), and balance transfer fees are 5% (minimum $5).
Interest charges explore to any balance you carry past the due date. Chase's APR for the Sapphire Secured Card varies by creditworthiness but typically ranges from 18% to 24%. If you carry a $500 balance at 21% APR, you pay roughly $8.75 in interest per month. Paying your full balance each month avoids interest charges entirely.
Frequently Asked Questions
Can I use my Chase Sapphire Secured Card right away after opening it?
Yes. Once your account is approved and your deposit is received, you can use the card when ready. Most people receive their physical card within 7 to 10 business days, but you can request a digital card number to use online or in mobile wallets the same day.
What if I miss a payment on the secured card?
A missed payment is reported to all three credit bureaus and damages your credit score. It also delays or prevents conversion to an unsecured card. If you miss a payment, contact Chase when ready to bring the account current. One late payment can set back your credit rebuilding by several months.
Can I increase my credit limit without adding more money?
Not on the secured card. Your limit is tied directly to your deposit. Once you convert to an unsecured card, Chase may increase your limit based on your payment history and income, but that happens after conversion, not before.
What happens to my deposit if I close the account?
Your full deposit is returned to you, usually within 7 to 10 business days of closing. You can close the account anytime. If you close before conversion to unsecured, you lose the opportunity to build credit with that account, but you do get your money back.
Does Chase offer any rewards on the secured card?
No. The Chase Sapphire Secured Card does not earn cash back or points. Once you convert to the unsecured Sapphire card, you would earn rewards on that card, but the secured version is rewards-free.