Yes, Chase offers secured credit cards, but only through specific products
Chase does not have a dedicated secured credit card under its main consumer brand. However, Chase Bank customers can access secured credit products through Chase Slate Edge, which is a secured card designed for people building or rebuilding credit. The card requires a cash deposit that becomes your credit limit, and Chase reports your payment activity to the three major credit bureaus.
If you are looking for a secured card from Chase, Slate Edge is the primary option available to new applicants. It differs from Chase's standard cards because the deposit backs your credit line rather than your creditworthiness alone. This structure makes it possible to get approved even if you have limited credit history, a low credit score, or past credit problems.
Key Takeaways
- Chase Slate Edge is Chase's secured credit card and requires a cash deposit between $200 and $2,500 that serves as your credit limit.
- You must maintain the deposit for at least six months, and Chase may return it after you demonstrate responsible payment behavior.
- Chase reports Slate Edge activity to all three credit bureaus, so on-time payments help build your credit score over time.
- The card carries an annual fee, which varies and should be confirmed before you open an account.
- Slate Edge is available only to people who do not already have a Chase credit card or have had one closed for at least 24 months.
How the Chase Slate Edge deposit and credit limit work
When you open a Chase Slate Edge account, you choose a deposit amount between $200 and $2,500. That deposit becomes your credit limit. If you deposit $500, your credit limit is $500. Chase holds the deposit in a separate account and does not use it to pay your bills—you make payments from your regular bank account or income, just like any other credit card.
The deposit earns no interest while Chase holds it. Your responsibility is to make monthly payments on time and keep your balance below your limit, the same as you would with an unsecured card. After you have made on-time payments for at least six months, you can contact Chase to request that they return your deposit and convert the card to an unsecured account. Chase may approve the conversion, but approval is not may provide and depends on your payment history and current credit profile.
Annual fees and other costs
Chase Slate Edge charges an annual fee. The exact amount varies and should be confirmed on Chase's website or by calling their customer service line before you apply. Unlike some secured cards that waive the first-year fee, Chase typically charges the fee in the first year. This cost comes out of your available funds or is added to your balance, so factor it into your budget when deciding on your deposit amount.
The card does not charge foreign transaction fees if you use it abroad, which is a benefit compared to some other secured cards. There are no late fees or over-limit fees as long as you pay on time and stay within your credit limit. Interest charges apply to any balance you carry from month to month, and the APR (annual percentage rate) is set based on your creditworthiness at the time of approval.
Who can open a Chase Slate Edge account
Chase restricts Slate Edge to people who do not currently hold any Chase credit card. If you have a Chase card open now, you must close it and wait at least 24 months before you can open a Slate Edge account. This rule prevents people from using multiple Chase cards at once and limits Chase's exposure on new accounts.
You do not need to be a Chase checking or savings account holder to open Slate Edge, though having an existing relationship with Chase may make the application process faster. Chase will pull your credit report and review your credit history, but the secured deposit structure means approval is more likely even if your credit score is low or your history is limited.
How Slate Edge reports to credit bureaus and affects your credit score
Chase reports your Slate Edge account activity to Equifax, Experian, and TransUnion—the three major credit bureaus. This means every on-time payment you make is recorded and helps build your credit history. If you miss a payment or pay late, that negative information is also reported and can lower your credit score.
The card's credit limit (your deposit amount) counts toward your total available credit across all accounts. Using a small portion of your limit and paying it off each month helps your credit utilization ratio, which is one factor credit scoring models use. Over time, consistent on-time payments and low utilization can raise your credit score, making you a candidate for unsecured cards and better interest rates on loans.
Alternatives to Chase Slate Edge
If you cannot open a Chase Slate Edge account or prefer to explore other options, many banks and credit card issuers offer secured cards. Capital One Secured Mastercard, Discover Secured Card, and US Bank Secured Visa are common alternatives. Each has different deposit requirements, annual fees, and terms for converting to an unsecured card.
If you already have a Chase credit card and want to build credit without opening a new account, you could ask Chase about credit limit increases or look into becoming an authorized user on someone else's account. These routes do not require a deposit but also do not give you the same level of control over your credit activity. A secured card remains the most direct way to build credit from scratch or after credit problems.
Steps to open a Chase Slate Edge account
Start by visiting Chase's website and searching for Slate Edge, or call Chase customer service to confirm the card is currently available and to ask about current terms. Have your Social Security number, income information, and employment details ready. Chase will ask for your name, address, date of birth, and other identifying information to verify your identity and pull your credit report.
Once you are approved, you will choose your deposit amount and provide payment information. Chase will debit the deposit from your bank account (either a Chase account or an external bank account). The card typically arrives within 7 to 10 business days. Set up automatic payments or calendar reminders to ensure you pay on time each month, since payment history is the primary factor that will determine whether Chase converts your account to unsecured after six months.
Frequently Asked Questions
Can I use my Chase Slate Edge deposit to pay my credit card bill?
No. Your deposit is held separately and does not pay your bill. You must make payments from your regular income or bank account. The deposit only serves as collateral for your credit line and is returned to you after you meet Chase's conversion requirements.
What happens if I close my Slate Edge account before six months?
Chase will return your deposit, but closing the account early may hurt your credit score because it shortens your credit history and reduces your available credit. If you need to close the account, do so only if necessary, and consider keeping it open and unused if possible.
Can I increase my credit limit on Slate Edge without adding more money?
Not without increasing your deposit. Your credit limit is tied directly to your deposit amount. If you want a higher limit, you must deposit more money. After conversion to an unsecured card, Chase may offer limit increases based on your payment history and creditworthiness.
How long does it take to convert Slate Edge to an unsecured card?
Chase requires at least six months of on-time payments before you can request conversion. After that, approval is not may provide and depends on your credit profile at the time of request. Some customers report conversion taking an additional 30 to 60 days after approval.
Is Chase Slate Edge the same as Chase Slate?
No. Chase Slate is an unsecured card for people with fair to good credit and offers an introductory 0% APR period on balance transfers. Slate Edge is the secured version for people building credit. They are separate products with different requirements and features.