Choosing a card
- Low annual fee, reports to all bureaus, reasonable deposit range.
- Upgrade path: Issuer explicitly supports graduating to unsecured and refunding the deposit.
Usage plan
- Deposit only what you need, keep utilization <10–30%, pay in full monthly.
- After 6–12 months of perfect payments, request an upgrade or limit increase.
Pro tip
If your bank offers prequalification (soft pull), check that before applying.
Frequently Asked Questions
How much should I deposit?
Start with $200-500. You can often add to it later to increase your limit.
When can I upgrade to unsecured?
Typically 6-12 months with perfect payment history and improved credit score.
Do I get my deposit back?
Yes, when you upgrade to unsecured or close the account in good standing.