The Perpay Credit Card is a strong no-deposit option — but it isn't the only credit-builder in town, and the $9 monthly fee isn't for everyone. Here are seven alternatives our editorial team would actually compare it against, and exactly who each one fits.
Three honest reasons. First, cost: the $9 monthly service fee adds up to roughly $108 a year, and several competitors charge nothing. Second, the payroll requirement: if your employer can't split your direct deposit — or you're self-employed — Perpay's core mechanic simply won't work for you. Third, rewards flexibility: Perpay's 2% back lands as Marketplace credits, not cash.
None of that makes Perpay a bad product. It means the right choice depends on your cash on hand, your payroll setup, and what you want from a card. Here's the field.
Works like a secured card funded from your own Chime account — but with no annual fee, no interest, and no credit check. Reports to all three bureaus. Requires a Chime checking account with a qualifying direct deposit.
Spends your own deposited funds while reporting activity like a credit card — no fees, no credit check, no interest. One of the simplest zero-risk ways to add positive history if you don't need actual borrowing power.
Starts as a small credit-builder loan; your payments unlock a secured Visa over time. Adds an installment account to your file — a different credit mix than a card alone, which can help your score profile.
A conventional unsecured Visa for fair-to-poor credit with soft-check pre-approval. No payroll linking required, and cash-anywhere usability — but annual fees vary by offer and the APR runs high, like most cards in this class.
The classic budget path: a refundable deposit as low as $49 (for qualifying applicants) opens a $200 line with a $0 annual fee, plus a real graduation path to unsecured Capital One cards over time.
A secured card that pays real cash back — 2% at gas stations and restaurants (on up to a quarterly cap) and 1% elsewhere — with automatic account reviews for graduating to unsecured. Deposit starts at $200.
The closest philosophical cousins to Perpay: no deposit, no hard check, limits based on your income and bank cash-flow rather than FICO. Worth a look if you like Perpay's model but can't split a payroll direct deposit.
If you have steady W-2 payroll, can split your direct deposit, and want an unsecured Mastercard without tying up cash in a deposit, Perpay's model remains hard to beat — automatic payments make missed due dates nearly impossible, and all three bureaus see every on-time month. Read our full Perpay Credit Card review or check your approval odds before deciding.
Checking your eligibility takes a couple of minutes and won't affect your credit score. Review Perpay's official disclosures on the issuer's site before completing your application.