What are the Capital One Platinum Secured credit card requirements? This question is about the Capital One Platinum Secured Credit Card

The main Capital One Platinum Secured requirements are that an applicant must be at least 18 years old with a valid Social Security number or Individual Taxpayer Identification number. Applicants must also agree to put down a security deposit of at least $49, $99 or $200 (depending on the specifics of their credit) before they can open the account. There’s no minimum credit score requirement, as the Capital One Platinum Secured card is designed for people with bad credit and beginners with little or no borrowing history. Capital One Platinum Secured Card Requirements At least 18 years old Physical U.S. address (no P.O. boxes) Proof of income to make the monthly minimum payment Checking or savings account Social Security number or ITIN $49, $99 or $200 security deposit (based on the specifics of your credit), at a minimum. While the Capital One Platinum Secured card has no minimum credit score requirement, Capital One may reject your application if there are serious negative entries on your credit report, such as a pending bankruptcy. Being past due or over the credit line on an existing Capital One card also makes you ineligible. The same is true if you’ve had a Capital One account charged off within the past year. And you cannot apply for a Capital One credit card 3 or more times in the last 45 days. In addition, if you apply for the Capital One Platinum Secured card, it’s vital that you enter all required information completely and accurately. Knowingly reporting false or misleading information on a credit card application is a federal crime.

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What are the Capital One Platinum Secured credit card requirements?

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This question is about the Capital One Platinum Secured Credit Card

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Michael Battle, WalletHub Credit Card Analyst

@mikebattle • 09/17/21 This answer was first published on 05/21/20 and it was last updated on 09/17/21.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The main Capital One Platinum Secured requirements are that an applicant must be at least 18 years old with a valid Social Security number or Individual Taxpayer Identification number. Applicants must also agree to put down a security deposit of at least $49, $99 or $200 (depending on the specifics of their credit) before they can open the account. There’s no minimum credit score requirement, as the Capital One Platinum Secured card is designed for people with bad credit and beginners with little or no borrowing history.

Capital One Platinum Secured Card Requirements

At least 18 years old
Physical U.S. address (no P.O. boxes)
Proof of income to make the monthly minimum payment
Checking or savings account
Social Security number or ITIN
$49, $99 or $200 security deposit (based on the specifics of your credit), at a minimum.

While the Capital One Platinum Secured card has no minimum credit score requirement, Capital One may reject your application if there are serious negative entries on your credit report, such as a pending bankruptcy. Being past due or over the credit line on an existing Capital One card also makes you ineligible. The same is true if you’ve had a Capital One account charged off within the past year. And you cannot apply for a Capital One credit card 3 or more times in the last 45 days.

In addition, if you apply for the Capital One Platinum Secured card, it’s vital that you enter all required information completely and accurately. Knowingly reporting false or misleading information on a credit card application is a federal crime.

Answer Question

What credit score do you need for the Capital One Platinum Secured card?

The Capital One Platinum Secured card is available to people with bad credit. That means people with credit scores below 640 have a shot at getting approved for this card.

Secured cards are easier to get than unsecured cards because they require a deposit to open the account, which Capital One will use as collateral to secure the account. The amount of your deposit will be your credit limit, in most cases. That said, though approval is likely, Capital One Platinum Secured approval is never guaranteed.... read full answer

How to Gauge Your Approval Odds

You can check your credit score for free, right here on WalletHub if you’d like to know where you stand. You can also check for pre-approval through Capital One’s website. This will have no impact on your credit score as it is based on a soft inquiry on your credit report. Just remember that while pre-approval indicates good odds (90%) of getting approved, it does not guarantee it.

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Can you be denied for a secured card?

Yes, you can be denied for a secured card if you have major negative items on your credit report such as an ongoing or recently discharged bankruptcy, collection accounts, or repossessions. You could also be denied if you don’t meet the issuer’s minimum requirements for approval. Those requirements typically include being at least 18 years old with a physical U.S. address, a Social Security number, and the ability to make payments on the account every month, among others.... read full answer

Other common reasons you’d be denied for a secured card might be incomplete or inaccurate information on your application, not enough funds to cover the required security deposit, or delinquencies on other payment obligations. If you are denied for a secured credit card, consider applying for one of our editors’ picks for the best no credit check credit cards, which are easier to get approved for than normal secured cards. You can also sign up for a WalletHub account and get free personalized credit analysis and advice on how to improve your credit score.

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Can you convert the Capital One Platinum Secured Card to unsecured?

You cannot ask for a Capital One secured to unsecured graduation, but graduation is definitely possible. The first option when it comes to graduating is the Capital One Platinum, which is a reasonable no-annual fee credit card.

So hang in there, and keep making those payments!

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