If asked to leave a security deposit,how much money is usually asked and what would be the credit limit

Question

If required to leave a security deposit,how do you base the amount of $ and what is the limit of the credit card?

Answer 1

Each credit card is different, but some secured cards have a security deposit between $75 to $300.  Depending on how the bank assesses your credit history, you may get a credit limit higher than your security deposit. Over time, and with responsible use of a secured card, your credit history should improve and your credit limit may rise.