Secured Credit Card Cost Calculator
See what a secured card could cost you over a year, from the fees and rate on the issuer’s page and how you plan to use it.
Quick answer
Shows what a secured card could cost you in fees and interest, using the deposit, fees and rate from the issuer and how you plan to use it.
Next step: compare secured cards from the issuers.
The amount you hand over. On many secured cards it sets your limit. The starting number is an example.
Use the issuer’s number. Enter 0 if there is none.
Some cards charge a monthly fee. Enter 0 if there is none.
Use the issuer’s number. The starting number is an example.
Paying in full every month means no interest on purchases. Enter 0 if you will.
Estimated total cost
$0
Cost per month
$0
Fees
$0
Interest on purchases
$0
Cash set aside as the deposit
$500
Share of a limit equal to your deposit used each month
20.00%
You entered that you pay in full each month, so the interest line is $0. The fees are the cost.
The deposit is not a cost. On many cards the issuer returns it after you pay off the balance and close the account, but the terms differ, so check the issuer. Over 12 months it is $500 you cannot spend elsewhere.
Secured card basics come from FCAC, Choosing a credit card (modified October 15, 2025, read November 10, 2026).
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Common questions
What is a secured credit card?
A card that needs a security deposit. The Financial Consumer Agency of Canada says the deposit typically sets your credit limit and is often a few hundred to a few thousand dollars.
Do I get my deposit back?
FCAC says the deposit is returned after you pay off the balance and close the account. Each issuer sets its own terms, so check the card's agreement.
What fees can a secured card have?
FCAC says there may be a non-refundable application or set-up fee and possibly an annual fee. This calculator lets you enter an annual fee and a monthly fee.
Who are secured cards for?
FCAC says they suit people with no credit history, a past bankruptcy or a low credit score.
Is the deposit a cost?
No, it is money you set aside. This calculator shows it separately from the fees and interest.
Next step: learn how this works
Read the guide behind these numbers, with sources and checked dates.