Accepted Credit Scores 
Limited History, Bad Credit
Secured Mastercard® from Capital One
Editor’s Take
John Kiernan, Credit Card Editor
Jan 5, 2021
Review: Secured Mastercard® from Capital One
The Secured Mastercard® from Capital One is perfect for building credit at a low cost. In addition to a $0 annual fee and a $0 foreign transaction fee, the Secured Card from Capital One offers a $200 starting credit limit in return for a refundable security deposit that could be as low as $49. Or, the deposit requirement could be $99 or $200, depending on the specifics of your credit history and the current state of your finances. The Secured Card from Capital One also reports to all three major credit bureaus each month.
All in all, the Secured Mastercard from Capital One is among the very best credit cards for low-cost credit improvement. Below, you can learn everything else you need to know before applying.
At the end of the day, the Secured Card from Capital One is one of the very best credit cards for building or rebuilding your credit standing. It’s one of just a handful of credit cards for people with bad credit that does not charge an annual fee. And it’s one of the only secured cards whose spending limit can be higher than the amount of your refundable security deposit.
All in all, the Secured Mastercard from Capital One is among the very best credit cards for low-cost credit improvement. Below, you can learn everything else you need to know before applying.
Secured Card from Capital One Review Highlights
Could be partially secured
You will have to make a deposit of $49, $99 or $200 for a $200 spending limit. That means it’s possible for the spending limit you’re assigned to exceed the amount of the refundable security deposit you’re required to place. Bear in mind that you can’t necessarily count on being approved for any unsecured spending power, which might be important if you need an emergency loan. But it would be a pleasant surprise if building credit is your top priority. Also, Capital One will monitor your account activity and you may get your deposit back as statement credit if you use it responsibly.Will help you improve your credit
Like all credit cards, the Secured Card from Capital One reports account activity to the major credit bureaus on a monthly basis. As long as you pay your bill on time and avoid maxing out your spending limit, this information will be positive and will lead to credit score gains. WalletHub’s free daily credit score updates will help you track your progress.No annual fee helps keep costs low
Whether you need a credit card to (re)build your credit standing or to pay bills that you can’t afford in cash, not having to pay an annual fee will make your job much easier. The same can be said of the Capital One Secured Mastercard’s lack of monthly and one-time fees, which are far too common with credit cards for bad credit.Not available to folks with seriously damaged credit
You are not eligible for the Secured Credit Card from Capital One if you have a non-discharged bankruptcy, a past-due Capital One credit card or an over-limit Capital One card. Furthermore, you can’t have a Capital One credit card that has charged-off in the past year, and your monthly income must exceed your monthly housing payment by at least $425.At the end of the day, the Secured Card from Capital One is one of the very best credit cards for building or rebuilding your credit standing. It’s one of just a handful of credit cards for people with bad credit that does not charge an annual fee. And it’s one of the only secured cards whose spending limit can be higher than the amount of your refundable security deposit.
Jan 5, 2021
Secured Mastercard® from Capital One's Key APRs & Fees
| ONE-TIME FEES |
|---|
| None |
| ANNUAL FEE |
| $0 |
| MONTHLY FEE |
| None |
| REGULAR RATE |
|---|
| 26.99% (V) |
| GRACE PERIOD |
| 25 days |
Secured Mastercard® from Capital One's Highlights
| No annual fee |
| Unlike a prepaid card, there is regular reporting to the 3 major credit bureaus |
| Accepted at millions of locations worldwide |
| Make the minimum required security deposit and you'll get an initial credit line of $200. Plus, deposit more money before your account opens to get a higher credit line |
| Access to an authorized bank account is required to make your $49, $99 or $200 refundable security deposit |
| Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed |
| We will monitor your account, and as you use it responsibly by doing things like making on-time payments, you may be able to earn back your deposit as a statement credit |
| Easily manage your account 24/7 with online access, by phone or using our mobile app |
Secured Mastercard® from Capital One's Additional Info
| MAX LATE FEE |
$40 |
|---|---|
| MAX OVERLIMIT FEE |
None |
| MAX PENALTY APR |
None |
| FOREIGN TRANSACTION FEE |
$0 |
| SMART CHIP |
Yes, chip-and-signature |
-
CASH ADVANCE APR
26.99% (V)
-
CASH ADVANCE FEE
3% (min $10)
- Last updated on 1/5/2021
at Capital One's secure site
Related Credit Cards
If you are interested in the Secured Mastercard® from Capital One, check out the following credit cards as well:
Related Credit Card Categories
Secured Mastercard® from Capital One is related to the following categories:
Customer Questions and Answers
Don't see what you're looking for? Submit your question about Secured Mastercard® from Capital One to our community.
What's the Capital One Secured card age requirement? Reply 3
Jeff French
@jeff_french
The Capital One Secured card age requirement is 18 years.
Those under the age of 18 are forbidden to own a credit card in their name, but can become authorized users on an adult’s account.
It’s useful to have a credit card from a young age, as it will teach you responsible credit utilization and will help you build credit.
3
Upvotes
Car I rent a car with my Capital One Secured card? Reply 3
William Kiefer
@william_kiefer
Yes, you can rent a car with the Capital One Secured card.
Plus, this card comes with included car rental insurance offering up to 15 days of coverage for theft or damage of an eligible rented vehicle.
Depending on your initial deposit, your credit line will be somewhere between $200-$1,000 and won't cover car rentals above that.
3
Upvotes
What can I do if I lost my Capital One Secured card? Reply 3
Wendy Bush
@wendy_bush14
In case of a lost Capital One Secured card, you should immediately call 1-800-227-4825 to report it.
You can also do it on-line on Capital One's website. Report it by logging in to your account and clicking "Report Lost, Stolen, or Damaged Card" under the "Services" dropdown.
Capital One will lock your card so no one can use it and send you a replacement with a new card number.
Most credit card issuers, including Capital One, offer $0 fraud liability, meaning that once they verify it, you won't owe anything for unauthorized charges made on a lost or stolen card.
3
Upvotes
What documents do I need to apply for Capital One Secured? Reply 3
JOSEPH BULEBUSH
@joeybule
When applying for the Capital One Secured, Capital One only requires personal information, including your full name, SSN, physical address (not a P.O. box), estimated gross annual income and other personal details, but no documents.
However, if you’re under 21, you have to prove that you can independently make the minimum payments on the account. Or, if you can’t, someone with the ability to make payments will need to co-sign for you.
3
Upvotes
How can I get the Capital One Secured card without an SSN? Reply 3
Robin Williamson
@robin_will
You can apply and get approved for the Capital One Secured with an ITIN instead of an SSN. You will have the option when filling in the application form, both online and in-person.
Foreign credit doesn’t transfer to the United States, so you’ll need to start building credit from scratch. Once you have a credit card, use it responsibly and pay it off on time and in full.
3
Upvotes
What's the maximum amount I can deposit on my Capital One Secured card? Reply 3
MICHAEL BATTLE
@mikebattle
You can add to your deposit to reach an initial credit limit of up to $1,000 on your Capital One Secured, and deposits can be made online through your Capital One account.
Please note that once your Capital One Secured Mastercard is activated, you won't be able to add to your deposit to increase your credit limit.
3
Upvotes
Does Capital One Secured do a hard pull? Reply 3
Alicia Kane
@Alicia_K
Yes, the Capital One Secured will do a hard pull. You can apply for it with bad credit though.
You can prequalify for the Capital One Secured on Capital One's pre-qualification page, but you will need to submit an actual application if you want the card, which will result in a hard pull.
A hard pull usually causes an applicant's credit score to drop by 5-10 points. Most people’s scores bounce back within 3-6 months with responsible credit management, but it can take up to 12 months. You can learn more about how to minimize the credit score damage here.
3
Upvotes
My security deposit was taken out of my account, applied four business days ago. How soon will I receive my card? Reply 3
3
Upvotes
Does this require a credit check? Reply 32
WalletHub
@WalletHub
Yes, when applying for the Secured Mastercard® from Capital One the bank will place a hard inquiry to your credit score and report.
3
Upvotes
How will I know when my billing cycle starts? Reply 33
WalletHub
@WalletHub
It should be listed on your monthly statement, which you can always access online if you don’t have a physical copy. Please let us know if you have any other questions. Best of luck!
3
Upvotes
Secured Mastercard® from Capital One Video Review
Secured Mastercard® from Capital One Reviews
Share your insights and review the Secured Mastercard® from Capital One.
Oct 11, 2012
I have fairly poor credit due to a few bad decisions I made when I was 18. Namely lots and lots of shoes. Now that I am a few years older and wiser and my dreams have expanded to hopefully buying a house one day, I've set about trying to rebuild my credit. Capital one has given me that chance. For the most part my experience over this last year has been nothing but positive. There was possible fraud that they worked with me on. They have the option to make an emergency payment, with a fee of course, wherein they will actually pay your minimum balance one month. I have never needed to use this feature however it's very nice to know that it is there. A few things that I've found frustrating, You do not get an email reminder about your payment due date so often times I've found myself remembering the day that it is due! Secondly, your payment does not process until the next day after you submit the payment online so if you do remember the day it's due you still get hit with a late payment. Overall, it's a great card especially if you are working on rebuilding your credit.… show more
Comment
Oct 11, 2012
This card was a great way for me to begin rebuilding my credit, since gets reported to the major credit bureaus. I needed a second chance and this card allowed for me to have one finally. With out having credit in today's world, it can be difficult to make it and to survive. The good thing is that I could rebuild my credit even though I have destroyed it at a previous age.
Oct 11, 2012
I got this card about a year ago. I needed a little help with my credit score, so I was looking for a secured card. I shopped around with different card companies for which card looked the best, and capitol one won hands down. The process to actually get the card itself was very easy. Not only has the card helped me with my credit score, but it has also made my life much easier. After having this card for about six months they also raised my credit limit, without me having to put down more money to secure it. I never realized until I got this card how much easier it would make my financial situation to have a credit card for emergencies. I highly recommend anyone with lower credit to get this card.… show more
Sep 27, 2012
I have a history of poor credit and have had this card in the past. It does have high fees but is excellent for rebuilding credit. Capital One is pretty good about raising limits as long as you use it responsibly too. Over time the deposit becomes a small investment on the return you get in increased spending limit. It also opens up doors to cards with better rates eventually. I have no regrets using this card and would do it again if necessary.I have used it for small purchases to pay the balance monthly but keep most of it free for emergencies, which I have had and used it for in the past. It's like having a small safety net for unexpected moments. I am glad Capital One gives consumers the chance to rebuild their credit.… show more
Sep 27, 2012
I've made mistakes in the past with my credit and it's made it very difficult for me to get traditional cards. In an effort to rebuild my credit I obtained this card a few months ago and have been very happy with it. There's nothing on the design of the card to indicate that it's a secured card so I'm not embarrassed to use it. The few times I've had to call Capital One with questions they've always been very professional and friendly and, I believe, they treat me with the same courtesy as their customers with "traditional" cards. When all is said and done, I wish I could qualify for a regular card but until my credit is rebuilt this is the best alternative.… show more
Sep 17, 2012
The Capital One Secured MasterCard really helped rebuild my credit fast! I didn’t understand the importance of keeping a line of credit open, so when I paid off the balance of my credit card I closed my account. Doing this really damaged my credit score, I always paid on time and I didn’t know that having an open line of credit helps your credit score. I knew that I couldn’t just apply to lots of different credit card companies because that would damage my credit further so I came across this secured MasterCard and finally had an answer to my problem. I can’t thank Capital One enough for offering this credit rebuilding card for people like me who haven’t made the best decisions regarding their credit. All you need is a $200.00 deposit and you are on your way to improving your credit!… show more
Sep 14, 2012
The Capital One Secured MasterCard is a wonderful way to help re-build your credit! I had paid off my entire credit card debit and closed all my accounts thinking that this would help improve my credit, it did not. In fact, closing all the paid for accounts was a negative hit against my credit score. I soon learned the value of credit cards, they help build your credit and part of building your credit is having a credit history with each lender so closing those accounts did some real damage. I could not get an unsecured credit card even though I had almost zero debt, after doing some research; I found that this card, with a $200.00 deposit, was exactly what I needed. Once my credit was getting better, which you can track on their website, my limits went up and so did my credit score. I learned a valuable lesson from this experience and I am thankful to Capital One for offering such a credit saving option.… show more
Sep 14, 2012
I got this card about a year ago to slowly raise my credit score, but it has also been way more helpful than just that. I am not one to indulge in shopping and I am a believer that one should control their spending so I only use this credit card when I need to or for emergencies. It has definitely pulled me out of a tight situation and I am so glad to have had it! My debit card had a hold put on it because of unfortunate fraudulent activity and I was unaware of that until I came to a gas station to fill up my tank. I was in a big hurry and needed to get home to pick up the kids and my tank was empty. My debit card was rejected three times and instead of freaking out, I pulled out my trusty Mastercard and it saved the day. I also needed to complete the weekly grocery shopping that afternoon as well but left without any checks or my debit card, again my Mastercard came to my rescue!… show more
Sep 14, 2012
I got this card eight months ago as my first credit card since I had trouble qualifying for an unsecured card. I went with Capital One they had a lower deposit requirement and they're a well known company. I ended up having to pay a $200 deposit and I received my card within a couple of weeks. After a few weeks I still hadn't gotten the welcome packet so I called customer service and spoke with a rep who was very helpful. So far, I've only had positive experiences with Capital One's customer service. Since having this card it's raised my Experian credit score from 617 to 682 and my Transunion score from 587 to 658.… show more
Sep 14, 2012
I have had this card for over 10 years, in that time I have used it extensively for online and brick and mortar purchases. I have never had to pull out another card, it has been accepted everywhere I have gone. The website of Capital One is easy to log in to and easy to use. You just need to set up a bank account to sweep money from and it will remember it so you can pay the bill easily every month. This card does have an annual fee and sometimes that bothers me but I remember that the card is a service and all services come with fees. The interest rate is typical for a revolving line of unsecured credit so nothing to shout about there. All in all I have never had an issue with Capital One and I wouldn't hesitate to use their products in the future.… show more
Sep 14, 2012
I've had this card for a few months now and I'm so pleased that I chose to sign up for it. My credit score was pretty terrible, and this card is definitely helping. It's nice because I've been able to extend my credit line further than my deposit. It's really helping me to rebuild my credit score. If you need a second chance with credit, this is the way to go. I messed up my credit when I got my first credit card as a young customer. I'm trying to pay off debt and fix my credit score now, so this is where it's at. I've grown up a lot now and am much more controlled in my spending. If you're able to spend carefully, definitely consider this card. Though it's not the most competitive of it's type of credit card, it seems to be great. And Capital One has great customer service - they've been incredibly helpful whenever I've had to call in with questions or problems. Definitely a card worth checking out!… show more
Sep 14, 2012
This card has really worked out well for me. I've had it for about 2 years, and I've never had a problem. The feature of this card that I think is best is the fact that your security deposit doubles as your credit limit, thus not allowing for spending too much outside of your means. Additionally, the credit card reports to the credit bureaus, which, if you pay your bill on time, will halp to improve/rebuild your credit. The interest rates are a little high, but if you pay off the bill in full every time, this doesn't really matter. Overall, I think this is a solid credit card for a younger person with a smaller income.… show more
Sep 14, 2012
This is an awesome starter card. Even though you have to have a $200 minimum deposit to start, once you get going it’s easy to increase your credit line in increments. I think the best part of this card is the credit reporting. This card reports to all three major credit reporting bureaus and as long as you use your card once a month and pay it off you will see improvements in your credit rating in a short time. Not only that, but if you keep increasing your credit limit with deposits it’s reported as your high credit limit making your reports look even better. This is a great card to start with when you are on the road to credit repair, I’ll never be sorry I got it.… show more
Sep 05, 2012
After suffering a number of financial setbacks, I am trying to rebuild my credit. Based on my previous positive experience with Capital One, I thought this secured card might be a good fit. Nevertheless, I had some questions. Specifically, since they pay no interest on the deposit that they hold in escrow, I wanted to know if they charged interest only on purchases in excess of the deposit amount. So, before applying for the card I wrote to their support department requesting clarification about the interest rates they charged on the secured portion of the balance owed. I thought my question was simple and straightforward, yet, to my surprise, Capital One refused to respond via email, citing "privacy concerns."
I found their reticence strange and more than a little bit off-putting.Why are they afraid to tell a potential customer the truth? Therefore, despite my previous experience I decided to look for a company that was willing to be more up-front about the card and any associated cost. I would like to put my faith in them, but not if they are unwilling to be 100% honest with me.… show more
I found their reticence strange and more than a little bit off-putting.Why are they afraid to tell a potential customer the truth? Therefore, despite my previous experience I decided to look for a company that was willing to be more up-front about the card and any associated cost. I would like to put my faith in them, but not if they are unwilling to be 100% honest with me.… show more
Sep 05, 2012
I have had some bad luck in the recent past and I would have to say Capital One has been there for me. There were times that I have been late on a payment or two and without any grief they waived the late payment and did not pry about why the payment was late. My credit is not the best and they gave me a shot with a card and it has been improving my credit. I even started a minimal limit and they increased it a few hundred dollars as my score improved. This was a pleasant surprise and boosted my credit confidence.… show more
Aug 30, 2012
The Capital One Secured Mastercard is one of the best credit cards available to help build credit. I have had this card for a year and a half and when I first got it I had little to no credit. Capital One was the only company I was able to get a credit card through to help me start building credit. Now just 18 months later I have a credit score in the high 700's and have been approved for several major credit cards with high credit limits. Capital One also has a great customer service department that is very helpful in answering any questions you may have. I absolutely recommend this card to anyone, whether you are a student just starting to build credit, or someone who has bad credit and needs help rebuilding it. This card works very well, and as far as I'm concerned is the best option available.… show more
Aug 30, 2012
I have had a capital one secured mastercard for 4 years now and I have found it to be very convenient. As others have posted also, it has helped me build credit and increase my credit worthiness in the eyes of lenders. I have family members that had a shaky start to their adult life and by using a secured card they were also able to build credit even after bad financial decisions. I would recommend this card specifically because Capital One works with their customers and is always understanding and very professional. Payment options are great and as I stated before, even with shaky credit you can dig yourself out of a credit hole by using this card.… show more
Aug 30, 2012
I had no idea about what a secured credit card was and after applying for unsecured cards I had run out of hope for rebuilding my credit using credit cards. After a little research online I found this credit card and it has been the best thing for my credit score. If managed correctly you can raise your credit card in a short amount of time. I have used the card so well that I actually received a $100 increase on my credit line. This has been the best card for my situation and I got easily approved with the lowest deposit! The card came in a few weeks after I made the deposit and I have also got a free personalized card from them that has my picture on it.… show more
Aug 30, 2012
I have had pretty terrible credit for awhile and someone told me to try this card to rebuild it. I was shocked that the deposit was so low and they still gave me their own "line of credit" on top of it. 2 months after making my payments, it had already upped my credit score. The only issue I have run into is I had to verify my bank account twice since my husband got the same card and we used our joint checking account to sign up. It really wasn't a big deal, but I wanted to be sure that people know to expect that if you and your spouse use the same account to get the card. Very happy that I chose this card and glad to see it is doing what it is supposed to do so quickly.… show more
Aug 22, 2012
I got this credit card to use in case something serious came up and I needed some extra money quick. It's a great thing I did because not too long after I had some car problems and this came in so handy to have. I've used my card for over 6 months now and have had nothing but good experiences with it. The interest rate is a little bit high but I didn't have the best credit when I applied for it so I'm happy with what I got. The only regret I have with it is the annual fee, I didn't realize it had one til after it had gone through and made me have insufficient funds for a purchase. But overall I've had a good experience with Capital One and would definitely use their services again.… show more
Aug 22, 2012
This not a bad card and the service is pretty average. It definitely helped build my credit back up and saved it from crashing. So I think its greatest purpose is the credit ability, as all I've seen is my credit rating go up. The annual fees charge is not bad at all in comparison to other cards, as I found it to be one of the lower charges. Online statements are quick to updating, and pretty user friendly to navigate around. Overall, a solid card to have especially if you're looking to build up your credit score and maintaining it.… show more
Aug 22, 2012
This has to be one of if not the best card to ever get when you're trying to rebuild your credit. I researched numerous cards prior to getting this one and found this offered me the best deal! It's a secured card so it reports directly to the credit bureaus and allows for positive information to be added to your credit file every month. The security deposit that gets paid on the card works as your credit limit so in addition to you being able to have some control of what you want your limit to be, you also get the benefit of not going over your spending limit like what can tend to happen with unsecured cards. The huge difference between this card and other secured cards in the market is that is the only reasonably priced partially secured card. I've noticed that my spending power exceeds what my deposit is. A small deposit of $300 can yield a credit limit of up to $3000. It's an awesome perk which is why I don't have much issue with the annual fee I'm charged. Best way to go if you ask me.… show more
Aug 15, 2012
I've had good experiences with this card. To be honest, the fees usually don't effect me as I pay all my charges off at once. The cash advances are great, although I hardly use them. I really highly recommend this card for anyone who is quick to pay off their charges, otherwise you will get stuck with some unsightly interest. The online credit tracking is wonderful, my statements always arrive on time and it's always nice to see that I'm not owing anyone anything more than I've purchased. So if you're reading this, I highly recommend this card, it will serve you extremely well and will be an aid to you when shopping and saving money.… show more
Aug 15, 2012
I have had a very positive experience with this card. I have not had it for very long but I can tell you that the application process is very easy and does not take too much time. You do have to provide a security deposit depending on how bad your credit is. Mine was $49 dollars for a $200 dollar limit. I was thrilled to get this card. We are post bankruptcy and have been working so hard to get our credit where it needs to be and handle money and obligations differently. There is a yearly fee with this card. However, this fee is worth it as it posts to your credit every month. The best part of this card so far is free enrollment in a credit information program. It gives you complete access to your credit score and report and helps you understand it and how to improve it. I love this!… show more
Aug 15, 2012
I've had a capitol one card for over 4 years without any incident so far. Being my first credit card I'm extremely satisfied with both the customer service and the card itself. The reward points are nice and when I was fraudulently charged customer service immediately compensated me for my loss. This card came at a very reasonable price and being a secure card was just an added bonus. Not only this, but as a student, this was a great way to start building my credit and being learning a little more about credit and money management. I would definitely recommend this card to others.… show more
Aug 15, 2012
I am a college student and find that this card is great for my casual/uses and needs. It is incredibly helpful for making all the college related purposes when I am living between pay checks. It is also a great tool for building my credit score as I can easily use this card responsibly without causing any debt problems. It allows me to live my life easier and make the purchases I want without the money I have. Sometimes it's just necessary to buy them and this card makes it easy. The annual fee is also very affordable for a college student and if something happens and I owe money the late fees aren't that expensive either.… show more
Aug 15, 2012
This card is a good card to pick to help to build (or improve) your credit score. The rates and fees are heavily dependent on your score, whether considering your monthly or annual fee. Capital One’s customer service can be excellent at times, but there are also some times when I had a hard time both speaking with a representative, or properly communicating what my problems were and getting them sorted out. Being a Mastercard credit card, it’s accepted in practically any store or website, and I can’t recall being unable to use it as of yet. The security deposit required by the credit card is also relatively low compared to other available options.… show more
Aug 15, 2012
Back when I was first starting my credit, obviously it was non existent. I needed a way to help me build up my credit, and a secured credit card seemed to be the best and most cost effective option available.
I looked around for many different secured cards, but finally decided on the capital one secured mastercard. The APR is reasonable for a secured card. Also the fact you can choose just how much to deposit is great. The online payment interface is just what you would expect as well. My credit rose fast using this card regularly and making payments on time. They even offered to increase my credit limit without me making another deposit.
I would highly recommend this card to individuals who are looking to establish or build up their credit. Just use the card regularly, make payments on time, and try not to max it out all the time either. Follow those steps and your credit will rise in no time.… show more
I looked around for many different secured cards, but finally decided on the capital one secured mastercard. The APR is reasonable for a secured card. Also the fact you can choose just how much to deposit is great. The online payment interface is just what you would expect as well. My credit rose fast using this card regularly and making payments on time. They even offered to increase my credit limit without me making another deposit.
I would highly recommend this card to individuals who are looking to establish or build up their credit. Just use the card regularly, make payments on time, and try not to max it out all the time either. Follow those steps and your credit will rise in no time.… show more
Aug 06, 2012
Capital One was a terrible experience for me. I never used it much, just a few times and I paid what I owed right away. Soon I got a bill from Capital One claiming I owed a large amount of money, my credit card information was not stolen, they were just mistaken on my bill. Finally after a long process, they cleared my bill of the amount that I had never really owed, but they would not remove the interest. The interest had accumulated to a high amount because it took them so long to clear their false charges from my account, and even though the charges were not anything I had spent, they would not remove the interest on those charges from my account. I still owe them the interest, but I refuse to pay because I never owed the money that the interest is on in the first place.… show more
Aug 06, 2012
I had this card for a couple years. I got it because I banked with Capitol One and thought I could use another credit card. I was not impressed. The interest is sky-high (22.9%!), while my Citibank card is maybe 17% or 18%. I started off with a 900$ credit limit and was denied every time I requested an increase. In fact, they eventually lowered my limit by a couple hundred.
The annual fee of $29 is what ultimately caused me to cancel. I hardly used the card at all due to the high interest rate, and when I saw that Citibank had no annual fee, I canceled Capital One. They begged me to stay, but I declined. Maybe once their interest rates go down and they get rid of annual fees I'll return, but until then I will stay with Citi.… show more
The annual fee of $29 is what ultimately caused me to cancel. I hardly used the card at all due to the high interest rate, and when I saw that Citibank had no annual fee, I canceled Capital One. They begged me to stay, but I declined. Maybe once their interest rates go down and they get rid of annual fees I'll return, but until then I will stay with Citi.… show more
02/20/15
I don't understand why everyone makes such a huge deal about a $29 annual fee. It seems like such a small price to pay for having a credit card that will help you build credit and credit worthiness.
Aug 01, 2012
After having to file for bankruptcy, due to unforeseen circumstances, this is the first credit card I received. I went with the secured credit card so I wouldn't have to worry about my credit being checked (which a lot of people don't realize, just the act of a creditor checking your credit lowers your FICO score.) I was very impressed with what a fine job this card did of quickly raising my credit score (not drastically, but realistically.) I think it carries a little more wait than other companies cards just because it's Capital One. Cards like these are a Godsend for people who have gotten their credit scores ruined, often through something that could not be avoided. I think within a 6 months this had raised my score enough that I was able to get an unsecured credit card with a decent interest rate. I'm not sure how or if you go about getting your initial deposit back because I still have my card, that's how much I like it. In summation, if you have good enough credit, obviously look elsewhere, but if you're just starting out, or rebuilding your credit this Capital One card is just what you want.… show more
Aug 01, 2012
We had an issue with low credit scores. We searched around for a while and found this secure credit card. It was easy to apply and easy to set up. We really liked that this was a sure way to improve our credit. It does take some time for the credit agencies to get the information that you are paying on time, but eventually it really does work and you will slowly see your credit score start to improve. The Capital One Secured Mastercard is a good deal and customer service is always friendly and up front. I would recommend this card as one of the best ways to rebuild credit if your credit has been damaged in the past.… show more
Jul 25, 2012
As a college student, I have limited options regarding financing - what with student loans and limited hours available to work. Initially I was reluctant to apply for a card, as keeping track of my credit is new to me, however I have had nothing but good times since I got this card! It works wherever I try to use it with no hiccups at all. Also I haven't had any difficulties managing my payments, etc. Overall I would recommend this card to other people like myself who are looking for an easy credit card to handle. Also good to have in emergencies - just in case you need to get out of a sticky situation, which is always nice.… show more
Jul 25, 2012
This card is perfect for people who want to build up, or rebuild their poor credit score. While it does not have the best benefits or point rewards, it is a simple card that is stable, balanced, and good for people who are not quite fiscally responsible yet, but quickly on the road to fiscal responsibility. The limit is not that high, to be honest. They give a membership to a service where one can look at their credit score, and learn what happens “behind the scenes”. Personally, I recommend that, if your credit is bad, you use this card to get better credit and quickly apply for a better card, with rewards and whatnot as soon as they can.… show more
Jul 25, 2012
I've been using the Capital One Secured Card for about a year now with no problems. Before I was the type of person that only used cash, due to the fear of all the fees that are associated with credit cards, but for this one the $29 annual fee isn't too bad considering all the benefits they give. It''s much easier to pay with than having a load of cash in your purse, just pull the card out and you're done. The main reason for choosing this card was because I didn't have any credit, so needed to build my credit score. They allowed me to make my security deposit little by little instead of putting one big sum. I was pretty new to credit cards, so had to call customer service a few times asking about how it worked and each time they were pleasant. I would recommend this card to anyone that has low credit or needs to build their credit.… show more
Jul 25, 2012
I've had this card for about six months now and it has been great. I have had bad credit because of student loans and am in the process of rebuilding. After having this card for only three months I saw my credit score go up almost 80 points! Capital One customer service has also been very helpful with any questions I've had about my card. It does have a high interest rate but it's meant to be paid off every month. If you have bad credit and understand the steps you need to take to rebuild it this card is a great way to get started.… show more
Jul 25, 2012
I had no credit history and a really low checking account balance so my credit history wasn’t that extensive. I didn’t have parents to co-sign for anything so I decided to start with Capital One’s Secured MasterCard. I had to put down a deposit and the rates were a little high, but that was expected given my current dilemma. My credit limit wasn’t that high but I didn’t need it to be. I only got this card to fix my credit. I made all of my payments on time and never had any issues. My credit score increased significantly over time. Eventually, I was eligible for unsecured credit and the service representatives helped me find a card suitable for me.… show more
Jul 25, 2012
This card has been a solid fail-safe option for me so far in my experience. I'm very light on my credit spending, but there are times that simply require the use of a credit card without having to worry about immediate ramifications. Recently I took a trip to New York, a city that I'm not used to. I found myself stuck without a hotel. I had never used my Mastercard up to this point in my life out of the fear of sneaky on-piling debt that my parents and friends have seen in the past. Credit Card companies are made out to be dangerous and deceiving today and I think that some of them are, however my experience with my Capitol One Secure Card has shown otherwise as it has saved me from potentially dangerous situations and so far, the debt that I've put on has been easily payable and I'm still above water, despite my advanced fear of drowning in credit card debt.… show more
Jul 25, 2012
I only recently got my Capital One MasterCard, but I am already pleased with this card. They gave me a great credit limit, a decent APR below that of my long-time bank, and I was able to start using it just a few days later. The introductory APR of 0% is going to come in quite handy to pay off my other card using a balance transfer. The signup process was simple and fast, and their online banking seems to have all you would need. Because of it's low APR, this will probably be the card I hang on to as I close out my other accounts and rebuild my credit.… show more
Jul 25, 2012
I applied for this credit card about a year ago when my credit was not looking too good. They gave me a $200 credit limit with a $100 deposit and I have seen an increase with my credit score. The interest rate is way too high and they charge too much to withdraw money from the ATM's but I didn't have a lot of choices at that time. I do like their website and you can make your payments from your bank account, online. Whenever I have had to call for any reason, they are very polite on the phone and very helpful. All and all, I have enjoyed the credit card because it has helped me rebuild my credit.… show more
11/10/12
Out of all these comments, yours was most helpful. You've answered questions that I was looking for. Thanks! ^_^
WalletHub is an independent comparison service.
We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. When you click "Apply Now" you will be directed to the offering institution's website. In addition, keep in mind that actual rates and other information may vary for a number of reasons including the applicant's' creditworthiness and differences between an individual's situation and the criteria/assumptions used to generate the information displayed. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.
Ad Disclosure: Offers originating from paying advertisers are noted as “Sponsored” at the top of this page. Advertising may impact how and where offers appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.
Editorial Disclaimer: Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by the issuer. In addition, it is not issuer’s responsibility to ensure all posts and/or questions are answered.
Last updated on: January 5th, 2021 at 21:16
Related Credit Cards
If you are interested in the Secured Mastercard® from Capital One, check out the following credit cards as well:
Related Credit Card Categories
Secured Mastercard® from Capital One is related to the following categories:
WalletHub is an independent comparison service.
We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. When you click "Apply Now" you will be directed to the offering institution's website. In addition, keep in mind that actual rates and other information may vary for a number of reasons including the applicant's' creditworthiness and differences between an individual's situation and the criteria/assumptions used to generate the information displayed. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.
Ad Disclosure: Offers originating from paying advertisers are noted as “Sponsored” at the top of this page. Advertising may impact how and where offers appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.
Editorial Disclaimer: Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by the issuer. In addition, it is not issuer’s responsibility to ensure all posts and/or questions are answered.
Offer last updated: Jan 5th, 2021 at 21:16 ET