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Key takeaways
- If you want to build up your credit and don’t have a bank account, there are secured cards that accept a deposit using a money order or prepaid debit card.
- Some of them even offer rewards, but also consider their fees and APRs.
- If you open a bank account, you would have more options for secured cards and also get more ways to manage your money.
Secured credit cards can give you purchasing power while helping you to build credit. As a condition of approval, you’ll typically need to offer up a security deposit which may also be your credit limit. The credit card issuer may ask you to link a bank account in order to transfer the funds for your deposit.
And this is where you might hit a snag. If you’re part of the 6 percent of American adults who were unbanked according to the Federal Reserve’s Report on the Economic Well-Being of U.S. Households published in early 2024, you might be wondering whether it’s possible to get a secured card with no bank account. Here’s a closer look at what’s possible when it comes to funding your secured card, as well as which secured cards you might be able to get, no bank account required.
Can you get a secured credit card without a bank account?
Yes, there are some secured cards that allow you to pay your security deposit using methods other than a bank account. For instance, you might be able to mail in a money order or use a prepaid debit card to fund your account. Or, you might be able to open an account upon signing up for your card.
3 secured credit cards you can get with no bank account
When comparing secured credit cards, it helps to be conscious of your credit history and how much you can afford to put down as a security deposit. Some secured cards are suited to people with bad credit; others are designed for people who are starting from scratch with no credit history.
In terms of the minimum deposit, you might find cards that start as low as $49 for those who qualify, while others might require $200 or more. Rewards are rare with secured credit cards, but there are some that offer cash back on purchases, which is something else to consider. Also, remember to weigh the fees and the interest rates.
The following cards are all available without a traditional bank account, although some may be suited to your needs more than others.
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The OpenSky® Secured Visa® Credit Card is a secured card with a $35 annual fee that’s designed for people who need to build or rebuild credit. The minimum deposit for this card is $200, which you can pay by mailing in a check or money order or by transferring funds through Western Union. Your credit limit can be as little as $200 or up to $3,000 depending on the amount you submit as your security deposit. Security deposits are refundable if you decide to close your account.
You can also get your deposit refunded if OpenSky upgrades you to their unsecured card. The process for this can take as little as six months, and will happen automatically if you meet the issuer’s requirements.
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The secured Self Visa® Credit Card1 is a secured credit card with a unique twist. You don’t need a traditional bank account to open and fund this account, but you do need to have either a Self Credit Builder Account or a minimum $100 deposit.
This is a loan account that provides no money upfront, the way a traditional loan would. Instead, it’s held in a certificate of deposit account that you make monthly installment payments on, including interest and fees. And once the loan is paid off, you receive that money back. You can use a minimum of $100 of your Credit Builder savings to fund the deposit for the Self Visa Credit Card, as long as you’ve made at least three on-time payments toward your loan. The card has a $25 annual fee, but the fee is waived the first year.
The credit card plus the credit builder account gets reported to your credit bureaus as two different types of credit, which can help you build credit faster if both products are used responsibly. Why? Because credit mix makes up 10 percent of your FICO score, and while that’s not as high as other factors, it can still make a difference as you start your credit building journey.
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The First Progress Platinum Prestige Mastercard® Secured Credit Card is available to people with bad credit or no credit history at all and charges a $49 annual fee. There’s no minimum credit score or credit history required to apply. You can make a minimum deposit of $200 or deposit up to $2,000 if approved. Security deposits can be submitted using a prepaid debit card if you don’t have a bank account. The card also comes with a 14.24% (V) APR — well below the current average credit card APR of 20.12 percent (variable) — which can be helpful if you have to carry a balance on your card from time to time. Plus, it earns 1 percent cash back on payments you make toward your credit card balance.
If you want a lower annual fee and are willing to accept a higher APR, consider checking out the Platinum Prestige’s sister card, the First Progress Platinum Select Mastercard® Secured Credit Card.
Good starter banks
While it’s possible to open a secured credit card without a bank account, opening a bank account can give you more financial opportunities. Not only does a bank account allow you to access more credit options, but having a bank account also makes it easier to deposit and withdraw cash as you earn and spend.
Plus, bank accounts can help you save and manage your money — whether you’re planning a vacation, preparing for a big expense or setting up an emergency fund.
With that in mind, here are some of the best banks of 2025:
- Ally Bank, an online-only bank that offers checking accounts with no monthly fees and no minimum balance requirements
- Capital One, a rapidly growing bank with robust online services and limited in-person branches that also offers checking accounts with no monthly fees and no minimum balance requirements
- Chase Bank, a major financial institution that offers both online and in-person services at branches across the country
It’s also worth checking out any local banks and credit unions in your area. Community-based banking institutions may be especially welcoming to people who are hoping to open bank accounts for the first time.
The bottom line
Getting a secured card with no bank account is possible and it could be a good first step toward getting your credit on track. The secured cards listed here can be opened and funded without a bank account as long as you have access to money orders and/or prepaid debit cards.
If you’re interested in more secured credit card options, you may want to consider opening a bank account. A checking account would make it easier to qualify for a secured credit card, and it can also offer convenience for managing your money. For example, you can set up direct deposit for your paychecks, pay bills automatically and link your checking account to a savings account for easy transfers. If you’re ready to open a bank account, it’s easy to compare the best checking accounts online so you can find the right one.
*Information about the Associated Bank Secured Visa® Credit Card, the Associated Bank Max Cash Secured Visa® Credit Card and the First Progress Platinum Elite Mastercard® Secured Credit Card has been collected independently by Bankrate and has not been reviewed or approved by the issuer.
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