If you open a secured credit card with a $200 deposit, you’d have a $200 limit to start. Your deposit usually doubles as your credit limit. For example, you might be able to open a secured card with $50, $100, $200, or more. The minimum deposit for a secured credit card can vary by the card issuer. A secured credit card is a credit card that typically requires collateral – namely, a cash deposit – to open.
