secured capital one credit card

Secured capital one credit cardSecured capital one credit cardSecured capital one credit cardSecured capital one credit cardSecured capital one credit card

Secured Credit Card

  • Guaranteed by your funds, which act as a security deposit in case you default on the loan extended by the credit card company.
  • Security deposit will be refunded in full if your account is up-to-date and paid on time when you close out your card.
  • Looks and works like any other credit card, so it won't be apparent to others that this is a secured card.
  • You fund the card by depositing $49, $99 or $200 into a FDIC-insured account. Deposit amount is based on your credit history.

Helps Credit History

  • Helps boost your credit history by reporting to all three credit bureaus every month so you can establish or rebuild your credit.
  • Looks like any other credit card on the credit reports - there is no indication that you have a secured card.
  • If you make your payments on time, you can help improve your credit score with good payment behavior.

Fees and APR

  • Annual Fee: $0.
  • Foreign Transaction Fees: None.
  • Purchase APR: 24.99% (Variable).
  • Balance Transfer APR: 24.99% (Variable).
  • Balance Transfer Fee: $0.
  • Terms and Conditions


Capital One Secured MasterCard

Secured capital one credit card

The Capital One Secured MasterCard is a secured credit card, a good choice for individuals who have no or limited credit history, or have past or current credit issues. We really like this card because it reports your payment history to all 3 credit bureaus, so you can build and improve your credit by paying your card on time each month. Whether you choose to pay the minimum payment on your balance, or pay your card in full each month in order to avoid finance charges, the positive financial action will assist in boosting your credit. Another big plus is the fact that no one will know that this is a secured card, including the credit bureaus. It looks and works just like a regular credit card. The icing on the cake is that there is no annual fee #8211; a relative rarity for secured credit cards and a very nice perk indeed.

Capital One Secured MasterCard Benefits:

  • No annual fee, with all the credit building benefits
  • Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
  • Free access to your credit score and learn how everyday decisions can affect your score using Capital OneВ® Credit Tracker
  • Your minimum security deposit gets you a $200 credit line
  • You may qualify for a credit line increase based on your payment history and creditworthiness with no additional deposit required
  • Easily manage your account 24/7 with online access, by phone, or using our mobile app
  • It#8217;s a credit card accepted at millions of locations worldwide

  • No annual fee, and all the credit building benefits with responsible card use
  • Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
  • Free access to your credit score and learn how everyday decisions can affect your score using Capital One В® Credit Tracker
  • Your minimum security deposit gets you a $200 credit line
  • You may qualify for a credit line increase based on your payment history and creditworthiness with no additional deposit required
  • Easily manage your account 24/7 with online access, by phone, or using our mobile app
  • It#8217;s a credit card accepted at millions of locations worldwide

  • Guaranteed by your funds, which act as a #8220;security deposit#8221; in case you default on the loan extended by the credit card company.
  • Security deposit will be refunded in full if your account is up-to-date and paid on time when you close out your card.
  • Looks and works like any other credit card, so it won#8217;t be apparent to others that this is a secured card.
  • You fund the card by depositing $49, $99 or $200 into a FDIC-insured account. Deposit amount is based on your credit history.

  • Helps boost your credit history by reporting to all three credit bureaus every month so you can establish or rebuild your credit.
  • Looks like any other credit card on the credit reports #8211; there is no indication that you have a secured card.
  • If you make your payments on time, you can help improve your credit score with good payment behavior.

  • Annual Fee: $0.
  • Foreign Transaction Fees: None.
  • Purchase APR: 24.99% (Variable).
  • Balance Transfer APR: 24.99% (Variable).
  • Balance Transfer Fee: $0.


Capital One® Secured Mastercard®

  • Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed
  • Easily manage your account 24/7 with online access, by phone or using our mobile app
  • It's a credit card accepted at millions of locations worldwide

Secured capital one credit card

Offers.com receives compensation from the credit cards listed on our site. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Our offers do not represent all credit card companies and deals available. When considering a card, see the issuer's online application for official details about terms and conditions. Reasonable efforts are made to maintain accurate information; however, all credit card information is presented without warranty. APRs may vary depending on your credit background and current interest rates.

Credit scores are for guideline purposes and do not guarantee approval. Your personal financial situation and lender terms and conditions can impact credit approval.

Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.


Capital One® Secured Mastercard®

  • There's no annual fee with this card.

Capital One® Secured Mastercard Essentials

With no annual fee, a free credit tracking tool, Platinum Mastercard® benefits and Apple Pay capabilities, the Capital One® Secured Mastercard® goes beyond the basics secured cards typically offer. Plus, its low minimum security deposit requirement make it an even more attractive option for individuals looking to build or rebuild their credit history.

Capital One® Secured Mastercard®9rsquo;s best features:

  • No annual fee
  • Chip-enabled
  • Credit line of $200 - $3,000 based on your security deposit amount
  • Regular reporting to all three major credit bureaus
  • $0 fraud liability if your card is ever lost or stolen
  • Select your own monthly payment due date
  • Get Platinum Mastercard ® benefits, including auto rental insurance, price protection and 24/7 roadside assistance
  • Use with Apple Pay

What Our Editors Like Most About the Capital One® Secured Mastercard®

The Capital One® Secured Mastercard® has all the basics someone needs to build or rebuild their credit, with the addition of a few perks you don’t normally get with secured credit cards.

Pay a refundable security deposit of $49, $99 or $200 based on your credit history and receive an initial credit line between $200 and $3,000. Pay the minimum required $49 deposit and you’ll start out with a $200 credit limit. Want to go higher? Make an additional deposit and Capital One® will raise your credit limit by that exact amount.

Financial education is important when you’re building or rebuilding your credit. Capital One® makes sure cardmembers have access to this information through its Financial Education site. The site features content about budgeting, balancing a checkbook and investing as well as additional resources that connect cardmembers to financial literacy programs (some of which are free). And if you want more tips about how to use credit wisely, follow Capital One®9rsquo;s Twitter handle, @YourFutureEdge, to get more financial education.

The Capital One® Secured Mastercard®, which reports to all three major credit bureaus, also helps cardmembers learn how to improve and build their credit through CreditWise®. The tool gives you unlimited access to your credit score and free financial tools to help you better manage your credit. One unique feature of the tracker is a Credit Simulator, which shows you how specific actions can affect your credit score. With these tools, Capital One® is doing more than providing a platform for people to rebuild their credit, it's doing the proverbial teaching a man (or woman) to fish.

The Capital One® Secured Mastercard® also has Platinum Mastercard benefits like rental car insurance, 24/7 roadside assistance, price protection that reimburses you the price difference if you pay more for an eligible item, and automatic travel accident insurance when you use your card to purchase a trip.

But one of our favorite features of the Capital One® Secured Mastercard®, is the option to select your own due date, making bill management just a little bit easier.

Potential Downsides of the Capital One® Secured Mastercard®

The Capital One® Secured Mastercard® doesn’t have a points program, so you won’t get any rewards. But since this card is more about utility than perks, use it wisely to build your credit and then graduate to a rewards card when your credit history allows.

The card also has a higher APR than many of its competitors. If you’re concerned about interest charges, a secured card with a lower APR may work just as well for rebuilding your credit.

How the Capital One® Secured Mastercard® Compares to Other Secured Cards

Capital One® Secured Mastercard® vs. First Progress Platinum Select Mastercard®. Both cards report to all three major credit bureaus, but Capital One® determines your security deposit based on your creditworthiness, while First Progress® doesn’t require a credit history or minimum credit score for approval. Both cards require a refundable security deposit, but First Progress® matches your credit limit to your deposit amount (from $300- $2,000). Though it has a lower APR than the Capital One® Secured Mastercard®, it also has an annual fee $39. The First Progress Platinum Select Mastercard® isn’t chip-enabled, so if you’re traveling abroad, you’ll want to carry another card in your wallet. Because of the additional perks and no annual fee, the Capital One® Secured Mastercard® is the better pick.

Capital One® Secured Mastercard® vs. Citi® Secured Mastercard®. Neither the Capital One® Secured Mastercard® nor the Citi® Secured Mastercard® has an annual fee (Citi is a CardRatings advertiser). Like Capital One®, Citi® asks applicants to make a refundable security deposit that will be equal to their credit limit. In the case of the Citi® Secured Mastercard®, that minimum security deposit is relatively high at $200; however, Citi also offers the possibility of a higher credit limit up to $5,000. The card has perks similar to the Capital One® Secured Mastercard®, including roadside assistance, rental car insurance and travel accident insurance. If you’d like the same card benefits as the Capital One® Secured Mastercard® but want a higher credit limit, choose the Citi® Secured Mastercard®.

Capital One® Secured Mastercard® vs. OpenSky Secured Visa. The OpenSky® Secured Visa® Credit Card is another secured card option that comes with an annual fee, in this case $35. Pay your security deposit and enjoy a credit limit of $200-$3,000 with the opportunity to raise that limit to $5,000 within the first year with responsible use and payment. Once again, you're dealing with an annual fee, but if you foresee wanting a higher credit limit soon, this could be a better option for you. You can also open an OpenSky Secured Visa without a credit check or even a checking account, so this could be a great option for individuals starting from the ground up with their credit history.

Anyone who currently uses a prepaid debit card or unsecured credit card because of a credit history in need of rebuilding. The Capital One® Secured Mastercard® is also a reasonable option for college students and first-timers who need to establish credit, especially since it doesn't require an annual fee to carry.


Capital One Secured Mastercard Review

Secured capital one credit card

Credit Card Review Team

on Capital One's

· $200 - $3000 credit line available

· Security deposit required ($49, $99, or $200 depending on creditworthiness)

· Regular APR: 24.99%, variable

· Balance Transfer APR: 24.99%

· Credit line improvement with good credit practices

Secured capital one credit card

For consumers with good or excellent credit history, there is a wide variety of credit card packages and deals available that reward good credit practices. These enticing deals create avenues towards better credit and consequently better rewards; however, there are some who do not possess a reliable history with credit scoring.

These potential cardholders, with their bad credit or unreliable history, are essentially cut off from every obtaining a card with rewarding benefits, but there are still options to start building credit available. Capital One offers such an option to potential cardholders in need of an opportunity to salvage their credit score. This option, known as the Capital One Secured Mastercard, helps provide a solid base for consumers in need of strict guidelines leading to a better credit score.

Like most secured credit cards, the Secured Mastercard from Capital One does not offer any special benefits on par with any of its other credit cards; its sole purpose is to provide a landing ground for cardholders who have lost their footing in bad credit history. The main headline on the card is the promise of an established credit line that inspires responsible spending; the credit line is determined by the security deposit upon application.

With the minimum security deposit paid, the cardholder automatically qualifies for a $200 credit line; however, if the cardholder opts to pay extra and add more than the initial security deposit, then a higher credit line is available. A possible maximum credit line of $3000 is available which is only attainable through confirmation of responsible credit building or a high initial security deposit. Credit score progress is always available on the handy CreditWise®, the free program that allows Capital One members to view credit scores with ease.

Aside from the lack of special benefits, the Capital One Secured Mastercard comes with the full list of perks offered to all Capital One members. Any fraudulent activity on the card account costs the cardholder nothing with 100% fraud coverage; this is supplemented with 24/7 customer service which is accessible online or by phone.

The Secured Mastercard includes an extended warranty on eligible goods with a manufacturer warranty in the event of damage. Car rentals are covered when renting with the Secured mastercard, so the user need not worry about signing an insurance waiver with the rental company. If there is ever an accident while on board a plane, train, or ship, the cardholder is covered with travel accident insurance in case of loss of limb or life. Several 24/7 assistance services are available in the event of a lost card, malfunctioning vehicle, or any other mishap.

Since this is a secured credit card, it is only natural that the Secured Mastercard is accompanied by above average interest rates and fees for any practice of misconduct in credit building. In order to apply for the Secured Mastercard from Capital One, the potential cardholder must drop a security deposit of either $49, $99, or $200 depending on the standing of the applicant's credit (naturally, the worse credit the higher the security deposit). In spite of this security deposit, there is no annual fee associated with the Secured Mastercard which is unusual for a secured card, so cardholders can enjoy some respite in the midst of credit rebuilding. There is a $10 or 3% transaction fee on all cash advances with the rate decision deriving from whichever produces the higher value. Late payments garner a fee of up to $35 with any lower value as a possibility.

There are high annual percentage rates (APR) with this package due to the usual strict terms that follow with secured card membership. The APR for regular purchases is 24.99% (variable) which will not be charged lest there is a late payment on a billing statement. Similarly, the APR for any balance transfers is also set at 24.99% (variable). If there is ever a need for a cash advance, an annual percentage rate of 24.99% is assessed to the total cash advance amount.

The Secured Mastercard provided by Capital One definitely does not qualify as a heavy reward based credit card, but this is not the intention of the card nor does it target a consumer with a good credit score. This is a basic credit card meant to inspire good credit building responsibilities with the possibility of graduating in a way to better cards with rewarding benefits.