Disclosure: Some links are sponsored. We may earn a commission if you apply through them and are approved, at no extra cost to you. This is general information, not financial advice.
Last reviewed: by the Smart Savings Guides editorial team. How we research and update articles.
Yendo car-secured credit card
Check if you qualify for YendoSponsored link: we may earn a commission if you sign up, buy or are approved, at no extra cost to you.
A credit card secured by your car's value instead of a cash deposit; it reports to all three credit bureaus. Purchase APR 24.88% to 35.88%, a $40 annual fee, and your car is collateral. US only, not in every state.
Ad / affiliate disclosure: every link in this box is sponsored. We may earn a commission if you use one, at no extra cost to you. The full guide starts below.
There's no true secured credit card without a deposit, because the deposit is what secures it. But you may not need a big lump of cash. Some secured cards accept a deposit as low as $49 for a $200 limit if you qualify; the Chime Card uses money you move into an account instead of a fixed minimum deposit; car-secured cards use your vehicle as collateral; and a credit-builder loan or becoming an authorized user needs no deposit at all. Which is right depends on what you have: a little cash, a bank account you can route money through, or a car.
Key takeaways
- Low deposit: Capital One Platinum Secured asks for a $49, $99 or $200 refundable deposit for a starting line of at least $200, depending on your application.
- No minimum deposit: the Chime Card is a secured card where the money you move in sets your spending limit; you need a Chime Checking Account.
- Car instead of cash: Yendo uses your vehicle as collateral. Higher cost and real risk to the car.
- No card at all: credit-builder loans and authorized-user status can build history without a deposit.
Own a car and have no cash for a deposit?
Sponsored link: we may earn a commission if you sign up, buy or are approved through it, at no extra cost to you.
Yendo is a credit card secured by your vehicle instead of a cash deposit. It reports to all three bureaus, but it costs more and puts your car at risk, so compare the options below first.
Check if you qualify for Yendo
Yendo says checking your offer doesn't affect your credit score; accepting an offer triggers a full credit check, which can. APRs 24.88% to 35.88%; annual fee $40 on the Auto Card per Yendo's FAQ ($40 to $69 across its cards, per its disclosures). Your car becomes collateral, so you could lose it if you don't repay. US only and not in every state; see our Yendo review.
Why secured cards need a deposit
A secured card gives the issuer collateral: if you don't pay, it keeps the deposit. That's why issuers approve people with thin or damaged credit. The deposit is refundable when you close the account in good standing or the issuer upgrades you to an unsecured card. Our secured credit cards explained guide covers how graduating works.
Option 1: a low-deposit secured card
Capital One's Platinum Secured card page lists a $49, $99 or $200 minimum refundable deposit, which opens an initial credit line of at least $200. You can deposit more (up to a $1,000 line) within 35 days of approval, and pay the deposit in installments of at least $20. There's no annual fee, but the purchase APR is 29.24% variable (checked October 17, 2026), so pay in full each month. Capital One says you can still be declined based on your income and existing debt.
Option 2: a card funded with your own money (Chime Card)
Chime says its Chime Card, which replaced Chime Credit Builder, is a secured Visa credit card with no minimum security deposit, no annual fee, no interest and no credit check to apply. You must open a Chime Checking Account. The money you move into the card's secured account is what you can spend, and an optional setting uses that money to pay your balance on time each month. Chime reports to TransUnion, Experian and Equifax, and doesn't report a utilization percentage because there's no preset limit.
The trade-off: your own money does the work, so it builds payment history but doesn't give you extra spending power, and its best perks depend on direct deposits.
Option 3: a car-secured card
If you own a car outright (or have an auto loan it can refinance), Yendo offers a credit card secured by the vehicle. Yendo says limits run from $450 to $10,000, based on the vehicle's value, your income and your credit, and that it reports to all three bureaus each month. Costs are higher than a regular secured card: fixed APRs of 24.88% to 35.88%, a 3% cash advance fee and a lien placement fee of up to $25. If you stop paying, you could lose the car. Read our Yendo review and Yendo vs a regular secured card before applying.
Option 4: no card, no deposit
- Credit-builder loan: a lender holds a small loan in a savings account while you make monthly payments, then releases it. See how credit-builder loans work.
- Authorized user: someone with good habits adds you to their card. Their payment history can help your file, but their late payments can hurt it too.
- Starter unsecured cards: some issuers accept thin files. See can you get a credit card with no credit history?
Which option fits you?
| Your situation | Usually the best first step |
|---|---|
| You can spare $49 to $200 | A low-deposit secured card with no annual fee |
| You can't lock up cash but get paid into a bank account | A card funded with your own money, such as the Chime Card |
| You can afford a small fixed monthly payment | A credit-builder loan |
| A trusted family member has a well-managed card | Authorized-user status |
| You own a car, need a higher limit and accept the risk | A car-secured card, only after comparing the options above |
Avoid these traps
- Prepaid cards don't build credit, because they don't report to the bureaus.
- Upfront "processing" fees to get approved are a red flag.
- Car title loans aren't the same as a car-secured card and are usually far costlier. See car title loan vs a car-secured credit card.
Whichever you choose, habits do the building: pay on time every month and keep balances low. Our guide to how long it takes to build credit sets realistic expectations.
Check if you qualify for Yendo
Sponsored link: we may earn a commission if you sign up, buy or are approved, at no extra cost to you. Check current prices and terms on the provider's own site first.
Free: 10 checks before you apply for a credit-builder
A printable checklist to compare secured cards, credit-builder loans and similar products before you apply, so you don't pay for something that won't help your score. Join our email list and it opens right away.
We haven't started sending emails yet. When we do, expect a few a month at most: new guides, reminders and occasionally a sponsored offer, always labeled. Every email will have an unsubscribe link. We store only your email address, the list you joined, the page and the date, and we never sell or share it. See our privacy policy.
Frequently asked questions
Can I get a secured credit card with no deposit?
Not a traditional one, since the deposit is what secures it. Alternatives include low-deposit cards (from $49 at some issuers), cards funded with your own money such as the Chime Card, car-secured cards, and credit-builder loans.
What is the lowest deposit for a secured card?
Capital One's Platinum Secured card lists a $49, $99 or $200 minimum refundable deposit for a starting line of at least $200, depending on your application. Many other secured cards require $200 or more.
Is the Chime Card a secured credit card?
Yes. Chime says the Chime Card is a secured Visa credit card with no minimum security deposit: the money you move into its secured account sets what you can spend. You need a Chime Checking Account.
Is a car-secured credit card a good idea?
Only after comparing cheaper options. Cards like Yendo can offer higher limits without cash, but APRs are high and your car is collateral, so missed payments could cost you the vehicle.
Sources
Official sources this article relies on, checked October 17, 2026. Rules and prices change, so confirm details at the source.
More guides
- Thin or No Credit File? How to Start Building Credit
- Secured Credit Cards Explained: How They Work and How to Graduate
- How Credit-Builder Loans Work (and When They Make Sense)
- Credit Utilization Explained: The 30% Rule and What Really Matters
- How to Check Your Credit Report for Free on AnnualCreditReport.com
- Yendo vs a Regular Secured Credit Card: Which Fits You?
- Can You Get a Credit Card With No Credit History?
- Car Title Loan vs a Car-Secured Credit Card: Key Differences
- How Long Does It Take to Build Credit From Scratch?
- Yendo Credit Card Review: A Card Secured by Your Car