Yes, Chase offers a secured credit card called the Chase Secured Visa
Chase offers the Chase Secured Visa, a secured credit card designed for people building or rebuilding credit. With this card, you put down a cash deposit that becomes your credit limit — typically between $200 and $2,500. Chase reports your payment history to all three credit bureaus, which means on-time payments help you build a credit score from scratch or recover from past damage.
The card charges an annual fee of $39 and has a variable interest rate that changes with the market. Unlike some secured cards that charge process fees or require a minimum deposit, Chase's main cost is the annual fee and whatever interest you pay if you carry a balance. Your deposit stays in a separate account and earns a small amount of interest — currently around 4.5% APY, though this varies.
The card works like any other Visa: you can use it anywhere Visa is accepted, and your monthly statement and payment history get reported to the credit bureaus. After you demonstrate responsible use — typically 6 to 18 months of on-time payments — you can request that Chase convert it to an unsecured card and return your deposit.
Key Takeaways
- Chase Secured Visa requires a cash deposit between $200 and $2,500 that becomes your credit limit.
- The card costs $39 per year and charges a variable interest rate; your deposit earns interest while held.
- Chase reports all activity to the three major credit bureaus, so on-time payments build your credit score.
- After 6 to 18 months of responsible use, you can request conversion to a regular unsecured card and get your deposit back.
- You open the account online or at a Chase branch, and funding the deposit happens when ready.
How the deposit and credit limit work
Your deposit is not a payment toward the card — it is collateral that Chase holds in a separate savings account. If you deposit $500, your credit limit is $500. You then use the card and make monthly payments just like any other credit card. The deposit stays locked in place and does not decrease as you spend or pay down the balance.
Chase pays interest on the deposit, which accumulates in that separate account. You cannot withdraw the deposit while the card is active, but you can see the interest accruing when you log into your account. Once you convert to an unsecured card or close the account, Chase returns the full deposit plus all accrued interest to you.
The credit limit can increase over time. After you have used the card responsibly for several months, you can request a credit limit increase, and Chase may raise it without requiring an additional deposit. Some cardholders report increases happening automatically after 6 to 12 months of on-time payments.
Annual fees, interest rates, and other costs
The $39 annual fee is charged once per year and appears on your statement. There is no process fee or processing fee to open the account. If you carry a balance from month to month, you pay interest on that balance at the card's variable APR, which fluctuates based on the prime rate. The current APR range is typically between 18% and 24%, depending on your creditworthiness at the time of approval.
If you pay your full statement balance by the due date each month, you pay no interest — only the annual fee. This is the most cost-effective way to use the card while building credit. Late payments trigger late fees (currently $25 to $35 depending on how late) and can damage your credit score, so setting up automatic payments or calendar reminders is worth the effort.
There are no foreign transaction fees, which means you can use the card internationally without extra charges. There is also no penalty APR — if you miss a payment, your rate does not jump to a punitive level, though the late payment itself will hurt your credit score.
How to open a Chase Secured Visa account
You can open the account online through Chase's website or in person at a Chase branch. Online, you start by visiting Chase's credit cards page, finding the Secured Visa, and clicking to explore. You will answer questions about your income, employment, and any existing Chase accounts. The process takes about 10 minutes.
Once approved, you fund the deposit when ready. Chase will tell you the minimum and maximum deposit amounts you are approved for based on your process. You can transfer money from an existing Chase checking or savings account, or if you do not have one, you can fund it from an external bank account. The deposit must be in place before the card is activated, which usually happens within one to three business days.
If you explore in person at a branch, a banker can walk you through the process and help you fund the deposit on the spot. This can be faster than the online route if you want the card active when ready. Either way, you receive your physical card in the mail within 7 to 10 business days, though you can use the card number for online purchases as soon as it is activated.
Building credit and converting to an unsecured card
The purpose of a secured card is to build a credit history that lenders can see. Every payment you make — on time or late — gets reported to Equifax, Experian, and TransUnion. If you pay on time every month, your credit score should begin to improve within 2 to 3 months, with more significant gains after 6 months of consistent payments.
After you have demonstrated responsible use, you can request conversion to an unsecured card. Chase does not publish a specific timeline, but most cardholders are may be able to access after 6 to 18 months of on-time payments. When you request the conversion, Chase reviews your account history and decides whether to approve. If approved, your deposit is returned to you in full, plus all accrued interest, usually within 5 to 7 business days.
If conversion is denied, you can request it again after a few more months of on-time payments. Some cardholders eventually convert; others find that after building their credit, they may have access to for better unsecured cards from Chase or other issuers and straightforward close the secured card to get their deposit back.
When a Chase Secured Visa makes sense versus alternatives
A secured card is useful if you have no credit history, a very low credit score, or a recent negative event like a bankruptcy or collection account. It is also a good choice if you have been denied for unsecured cards and need a way to start rebuilding. The fact that Chase reports to all three bureaus means your efforts are visible to all lenders.
However, secured cards are not the only option. Some people with thin credit histories may have access to for unsecured cards designed for new credit builders, which do not require a deposit. Others may have access to a credit-builder loan through a credit union or community bank, which works differently but also builds credit. If you have a family member willing to add you as an authorized user on their existing card, that can also help build credit without a deposit.
The trade-off with Chase's secured card is the $39 annual fee. Some other issuers offer secured cards with no annual fee, though they may have higher interest rates or lower maximum credit limits. If you plan to convert to an unsecured card within a year, the fee is a small cost for building credit with a major bank. If you think you will keep the card longer, comparing the annual fee to alternatives is worth your time.
Frequently Asked Questions
Can I get approved for a Chase Secured Visa if I have bad credit or no credit history?
Yes. Secured cards are designed for people in exactly that situation. Chase approves most applicants who have a valid Social Security number, a U.S. address, and enough income to cover the annual fee. A bankruptcy or recent collection account will not automatically disqualify you, though Chase may approve you for a lower deposit amount.
What happens if I miss a payment on the Chase Secured Visa?
A late payment gets reported to the credit bureaus and damages your credit score. You will also be charged a late fee. However, Chase will not take money from your deposit to cover the missed payment — the deposit stays locked. Missing payments repeatedly could result in the account being closed, but a single late payment will not automatically close it.
Can I use the deposit as a payment if I cannot pay my bill?
No. The deposit is collateral and cannot be used to pay your statement balance. You must make payments from your income or other funds. If you cannot pay, contact Chase to discuss options — some cardholders have been able to work out payment arrangements, though this is not may provide.
How long does it take to convert from a secured card to an unsecured card?
There is no set timeline, but most cardholders become may be able to access after 6 to 18 months of on-time payments. Once you request conversion, Chase reviews your account and notifies you of approval or denial within a few days. If approved, your deposit is returned within 5 to 7 business days.
What is the difference between Chase Secured Visa and other secured cards?
Chase Secured Visa charges a $39 annual fee and offers interest on your deposit. Some competitors charge no annual fee but offer lower interest rates on deposits or smaller maximum credit limits. The main advantage of Chase is that it is a major bank with widespread acceptance and a clear path to conversion, which some smaller issuers do not offer.