Minimum Credit Score Needed 
Limited History
Capital One® Secured Mastercard®
Editor’s Take
John Kiernan, Credit Card Editor
Jan 10, 2020
Review: Capital One® Secured Mastercard®
A rare partially-secured credit card, the Capital One® Secured Mastercard® is perfect for building credit at a low cost. In addition to a $0 annual fee and a $0 foreign transaction fee, the Capital One® Secured Mastercard® offers a $200 starting credit limit in return for a refundable security deposit that could be as low as $49. The deposit requirement also could be $99 or $200. The Capital One Secured Card also reports to all three major credit bureaus each month.
All in all, Capital One Secured is among the very best credit cards for low-cost credit improvement. Below, you can learn everything else you need to know before applying.
Capital One Secured Card Review Highlights:
All in all, Capital One Secured is among the very best credit cards for low-cost credit improvement. Below, you can learn everything else you need to know before applying.
Capital One Secured Card 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.
- Will help you improve your credit. Like all credit cards, the Capital One Secured Card 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 Capital One Secured Credit Card 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.
Jan 10, 2020
Capital One® Secured Mastercard®'s Key APRs & Fees
| ONE-TIME FEES |
|---|
| None |
| ANNUAL FEE |
| $0 |
| MONTHLY FEE |
| None |
| REGULAR RATE |
|---|
| 26.74% (V) |
| GRACE PERIOD |
| 25 days |
Capital One® Secured Mastercard®'s Highlights
| 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 |
| Access to an authorized bank account is required to make your $49, $99 or $200 refundable security deposit |
| 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 |
| 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 |
Capital One® Secured Mastercard®'s Additional Info
| MAX LATE FEE |
$39 |
|---|---|
| MAX OVERLIMIT FEE |
None |
| MAX PENALTY APR |
None |
| FOREIGN TRANSACTION FEE |
None |
| SMART CHIP |
Yes, chip-and-signature |
-
CASH ADVANCE APR
26.74% (V)
-
CASH ADVANCE FEE
3% (min $10)
at Capital One's secure site
Editor's Pick
Capital One® Secured Mastercard® is an Editor's Pick for:
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Related Credit Card Categories
Capital One® Secured Mastercard® is related to the following categories:
Customer Questions and Answers
Don't see what you're looking for? Submit your question about Capital One® Secured Mastercard® to our community.
How can I get a Capital One Secured Card credit limit increase? Reply 122
Jane Parker
@parker16
There are two ways to get a Capital One Secured Card credit limit increase: depositing more money than required and consistently paying your monthly bill on time. The first option is available prior to account opening and the second after your account has been open for at least five months. I’ll walk you through both below.
Capital One Secured Card Credit Limit Increase Options:
1. Over-Deposit Before Getting Your Card
If you get approved, Capital One will require you to place a security deposit of $49, $99 or $200 to actually open your account. The deposit amount you’re assigned depends on your overall creditworthiness, but everyone starts with a $200 credit limit – unless you deposit more than is required, that is. Any amount you deposit above what’s required will boost your spending limit by the same amount. For example, if you’re required to place a $49 deposit and you put down $149, your credit limit will be $300 instead of $200.
You can actually raise your credit limit up to $1,000 this way. But that’s the absolute maximum, and you can only do it when you first send your deposit.
2. Pay On Time For 5+ Months
After account opening, the only way to get a Capital One Secured Card credit limit increase is to pay on time for 5 months. If you do, Capital One will likely raise your credit limit during the 6th month. By how much, though, is completely up to them. If you pay on time but other aspects of your credit get worse, you might not get an increase.
It’s also possible that Capital One will eventually return your deposit and transition you to an unsecured credit card with a higher credit limit. But that depends on how financially responsible you are.
Final Take
Different secured cards have different rules regarding security deposits and spending limit increases. You can usually increase your limit by depositing more money, often at any time. But you generally can’t just call and ask for more spending power without giving the credit card company something in return. And Capital One certainly doesn’t allow that.
The only chance you have to get yourself more credit is at the very start when you send in extra money on top of your deposit. Otherwise, you’ll have to speak with your actions by paying on time until Capital One raises the limit themselves.
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Upvotes
What will my Capital One secured card credit limit be with $200 deposit? Reply 157
WalletHub
@WalletHub
Your Capital One Secured card credit limit will be $200 with a $200 deposit.
You may deposit more than your minimum required security deposit before your account opens to receive a higher initial credit line, up to your maximum approved line of $1,000.
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Upvotes
How do I get a Capital One secured card deposit refund? Reply 32
Syd Jones
@syd.jones
You can get your Capital One Secured credit card deposit refund in two ways:
First, once your credit has improved and you’re ready to move on from your secured card, you can close the account and your full deposit will be returned to you.
The second scenario is when Capital One feels as though your credit situation has improved and you are ready for an unsecured product. They may automatically upgrade your card to the Platinum and refund your deposit.
3
Upvotes
How can I convert my Capital One Secured card to unsecured? Reply 21
Carl Blake
@carl_blake
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!
2
Upvotes
Can you convert the Capital One Secured Card to unsecured? Reply 44
Mr Miles
@mrmiles42
One way to go from a Capital One secured to unsecured card is applying for a new Capital One credit card that doesn’t require a security deposit. There are also reports of Capital One graduating secured cards to unsecured, but you can’t be sure they’ll make the switch in your case. It doesn’t hurt to ask, though.
If you would like to request a switch, you can call Capital One customer service at 1-800-227-4825. Enter your card number and ask to speak to a representative. Then, ask about your options for graduating to an unsecured card. The longer you’ve been making timely payments, the better your chances will be.
There are a few more points to think about before you take action.
Here’s what to consider before going from a Capital One secured to unsecured card:
- Your two options are applying for a new Capital One card or asking Capital One to graduate your existing card. Neither is a guaranteed success.
- You can ask Capital One to graduate your secured card to unsecured by calling 1-800-227-4825.
- Capital One might offer to graduate your secured card even if you don’t ask. That would mean you’ve been a very responsible cardholder.
- Some users report graduating from Capital One secured to unsecured after anywhere from 8 months to 2 years.
- The more your credit score rises, the better your chances are of getting a new unsecured card or graduating from your secured card. On-time payments are crucial to that.
- Other than the deposit, there’s little difference between a secured card an unsecured card. Both report to the credit bureaus and have the same credit building potential.
- You can increase your Capital One secured credit limit up to $1,000. You can do this by adding more money to your deposit within 80 days of opening the account. Capital One may also increase your limit after you make your first five payments on time.
If you want to go from a Capital One secured to unsecured card, the best thing you can do is make your payments on time and generally using your credit responsibly. Aside from that, it’s mostly a matter of patience. Once your score has improved, you can either try for a new card or ask if Capital One will graduate you.
4
Upvotes
How to make a higher deposit? Reply 4537
Patrick Murphy
@stpatrick1982
You can just deposit more money for a higher limit before opening your account. But after opening, you can only get a higher limit by paying your first 5 monthly bills on time. If you do, you won’t even have to add to your deposit.
45
Upvotes
Does this bank perform a credit check before issuing you a card? If so, what is the impact on my credit score? Reply 3424
WalletHub
@WalletHub
Yes, all credit cards perform credit checks -- the short term hit to your credit score will be small. We have a very informative article on this topic here. If you have below average credit you should focus on improving your credit over the long-term and not get overly worried about the short-term. To keep yourself up to date with credit improvement tips and get your free credit report, you can sign up for WalletHub. You'll also benefit from free credit scores updated on a daily basis and free 24/7 credit monitoring. You can try it here. Hope this helps.
34
Upvotes
We just got rejected for a different secured credit card. (Wells Fargo).Is there any way to find out if we would get rejected for this one as well? We have bad credit. Delinquent accounts and going through credit counseling with an agency (Armada Debit Solutions). I don't want to go through the hassle of setting up an account, just to find out we are rejected. Reply 2818
Syd Jones
@syd.jones
You're probably less likely to get approved for this card, as it is a partially-secured card - which means your credit line has the potential to be higher than the amount of your deposit. You may want to apply for the Harley-Davidson Secured Card instead. It doesn't charge an annual fee and may have lower approval requirements. You can find it at: https://wallethub.com/d/harley-davidson-secured-credit-card-444c/ .
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Upvotes
Does this card report my credit to the 3 major credit bureaus, if so how often? Thanks! Reply 2216
WalletHub
@WalletHub
This card reports to the three major credit bureaus on a monthly basis.
22
Upvotes
Capital One® Secured Mastercard® Reviews
Share your insights and review the Capital One® Secured Mastercard®.
Jan 17, 2020
I was cheated over fake internet website to purchase the gift cards. I thought I was calling to Apple store. But then I suspected a fraud. I immediately call to Capital One about it, the agent on the other side of the line from fraud department, after I told him the whole story, how I was cheeted, promise to me that they will resolve the issue. I asked the agent if I have to report the fraud act to the police, his answer was its not necessary, that they will deal with this problem themselves, so I was stupid enough to trest him. In the beginning they removed the charges, then they put them back. When I call them again they told me that its not there issue the dispute department should handle this matter. So they transfer me to dispute department and the charges was removed again till they investigated this, but then charges was placed back again. To make story short . Now they want me to deal with issue myself, after 4 months passed they want me go to the police, which I offer to them in the beginning, when it was not to late and police could still catch those criminals and may be return my money. They connected me to the merchant over the phone to deal with them about an issue, put the charges back in my account and charged me the late fees. I don't know what the fraud departments and dispute departments for? If they don't do there job correctly and direct there customers to the wrong directions? Also why the stores sale those gift cards which criminals using for there purposes and nobody can't stop them for doing that? And why fraud and dispute department instead helping us helping those criminals and making us paying for there mistakes?… show more
Comment
Jan 16, 2020
I have the Capital One secured card for 2 years, paid in full every month, have a Discover credit card with twice the limit of Capital One and Capital One told me there is no way to upgrade from a secured card to an unsecured card.
The only way to get an unsecured card from Capital One is to apply for a new credit card, which they can't tell me if I qualify for or not without doing a full application for a new card.
I only have 3 negatives on my credit report that are 4-5 years old. Otherwise have perfect credit and paid my Discover card in full every month.
And when you call Capital One you always get someone in India or Philippines or some other place with an accent so thick its almost impossible to understand them.… show more
The only way to get an unsecured card from Capital One is to apply for a new credit card, which they can't tell me if I qualify for or not without doing a full application for a new card.
I only have 3 negatives on my credit report that are 4-5 years old. Otherwise have perfect credit and paid my Discover card in full every month.
And when you call Capital One you always get someone in India or Philippines or some other place with an accent so thick its almost impossible to understand them.… show more
Dec 15, 2019
Horrible card/company. Very subject to fraud, recurring events. Clients /YOU are left to pay Fraudulent charges due to run around techniques used by Capitol One, even though you're paying for coverage.
Dec 05, 2019
Wow! I am so happy that I went with this card. I use this card to increase my credit score. That it did! I like a lot of young people messed up my credit being young and dumb. Making choices without taking my credit score into account. So I can a point when I realized how important credit was. So I was blessed with a wonderful good paying job, I paid off all my debt. My debt was paid off and paid off all my cards that I had and closed accounts. My score was a 420 before I started paying things off. Once everything was paid I got my score to a 500. In a year it went up slowly to 511, one or two point here and there. On Oct 8, 2019, is when I applied for my Capital One Secured Card (511 Credit Score). I was approved for a $200 credit limit. Which I was excited for because I wanted to use the card for small purchases. Received the card Nov, 11, 2019, Activated it and used it for gas within a week of receiving it. (I also, downloaded the Capital One App. Helps keep track of spending and payment due date and also your credit score). First Payment was due Nov 29. I made a payment in full Nov 25. A week later my score went up 21 points. I was sitting at 532. Dec 1st made another small purchase. I checked my score Dec 4th and my score went up 46 points. Now 578. Dec 5th I just made another payment in full so I’m excited to see what my score will be ina week. I definitely recommend this card if you are trying to build your credit. $200 May not be much, but this card intended to be manageable when you want to build your credit. Best decision I made for my credit.… show more
Dec 03, 2019
I arrived in Spain in May of 2019. I tried to use my Capital One card to pay for dinner for friends and colleagues. The card would not work. I went on line. Unfortunately customer service consisted of a computer that indicated it was a bank problem and that I need a land line to resolve the problem. This is all the help the company would offer. I seriously thought my identity had been stolen! After considerable trouble I was able to get access to land line and call the number. Because of time difference I was told to call back in a few hours. When I finally was able to speak to some one I was told that the card was blocked because I still owed 13 cents. I was then forced to call my bank and transfer a $1 to cover the 13 cents missing from my payment. When I returned to the states I was informed by a supervisor that Capital One was in their legal right to block my card. They ignored the larger issue of their problem with customer service. My advise --- make sure it is not in your wallet especially when traveling! I recommend Schwab who have no cost accounts that will reimburse ant ATM fee.… show more
Nov 29, 2019
I’ve had this card for over ten years. I became seriously ill and fell behind on payments. Their harassment has been relentless even though I have spoken to them many times about what my situation is. They have no programs set up for an unexpected illness or accident. And no sympathy either. Get your card somewhere else. These people make their money breaking the backs of the poor.
Nov 01, 2019
Why is 0 not an option? I have had this card many many years, always paid my bill on time. The customer service is beyond terrible!!!! I have never been so frustrated that it resulted in my asking to cancel my card. As soon as it was canceled (and I had a small balance still on the card that I needed to pay off) I realized I had $300 in points I could redeem. I immediately called back to redeem the points and they refused, saying the card had been cancelled! I could not believe they would not honor since the card was technically still active. Not a good business practice by any means. Why did the agent not point that out to me prior to cancelling the card. I have always referred people to Capital On in my business of debt consolidation, but I refuse to every recommend such a bad business practice.… show more
Aug 13, 2019
It was good for rebuilding my credit but my credit line was never increased as stated. They say after 5 months of on time payments you will get an increase. I've had the card for 2 and a half years of on time payments and no increase. I even requested an increase, only to be told that increases were not an option for the card.
Now, I just paid off the card and it sounds like the only way to get my deposit back is to completely close the account. If I close the account it will negatively effect my score by bringing down the age of my on time payment history. So ultimately I cannot get my money back without effecting my credit.… show more
Now, I just paid off the card and it sounds like the only way to get my deposit back is to completely close the account. If I close the account it will negatively effect my score by bringing down the age of my on time payment history. So ultimately I cannot get my money back without effecting my credit.… show more
Aug 09, 2019
I give them 0 stars but I had to rate so that's why I had to give them a one. I was with them for only a few short months. PAID my bill every month in full and on time. Minus when they screwed up and blamed my bank, also turned around and said my payment was returned for insufficient funds! Complete and utter joke. The customer service is a bigger joke, they might be nice but they are dumb and don't do crap for you minus tell you over and over in sorry but don't help you. The supervisors are even worse rude and won't even work with you. They closed my account with no warning and the reason was complete b.s. They screwed up and took absolutely no accountability for it. Instead they blamed me and my bank lmao, what a joke! I use to like them until they treated me so poorly and closed my account for no good reason and their reason was b.s and inaccurate information. I also am going to the BBB. Don't even get me started on not being able to understand anyone who works in customer service minus the supervisors and they are rude. So yeah, I would never recommend them I rather pay high annual for a unsecured card then deal with this crap for my OWN money. Best part they told me that I can reapply for another credit card! I about died when they told me that. So yeah capital one is a horrible and scamming company never will I have anything opened with them.… show more
Aug 08, 2019
worst customer service, and 1 day late will keep you form getting a credit limit increase there are better card companies out there, they are not interested in helping you they are more interested in finding ways they can charge you late fees and keep from increasing your limit to help your utilization rate
use a different credit card company stay away from this one
use a different credit card company stay away from this one
Aug 06, 2019
Once again I was correct just to prove u shouldnt get Capital One credit card . Even a secured credit card I got turned down . . Capital One is a joke .....................................................
Aug 04, 2019
Excellent card! I received in the mail a request for a Capital One Platinum with pre-approval code and without having any credit history, they approved me $ 300 without having to make a deposit. After 5 months paying the minimum they increased the credit limit to $ 700. I recommend it 100%.
-- ¡Excelente tarjeta! Recibí por correo una solicitud para una Capital One Platinum con código de preaprobación y sin tener ningún historial de credito, me aprovaron $300 sin tener que hacer depósito. Luego de 5 meses pagando el mínimo ellos me amentaron el límite de credito a $700. La recomiendo al 100 % .… show more
-- ¡Excelente tarjeta! Recibí por correo una solicitud para una Capital One Platinum con código de preaprobación y sin tener ningún historial de credito, me aprovaron $300 sin tener que hacer depósito. Luego de 5 meses pagando el mínimo ellos me amentaron el límite de credito a $700. La recomiendo al 100 % .… show more
Apr 09, 2019
I'm a college student working 2 jobs and in the need to build my credit history and build my score. My first credit card I got, I missed payments and wasn't responsible with it, therefore making my initial credit score around a 470. Yes, I've been paying on that card and only had a debt of about $300. I applied for the Capital One card after being denied everywhere for any other card and they approved me. I put the 200 down and received my card about 3 weeks later. I've had this card about 2 months and my score has jumped over 100 points! I am able to now apply for more credit cards and be approved, and I'm approaching a 600 score. The app is so easy to use, and although I haven't received a credit increase in the 2 months I've had it, I make multiple payments a month and am always on time. I highly recommend this card to anyone!… show more
Feb 27, 2019
I applied for this card and was told to send a deposit of $300 so I could have a credit limit of $300. The information I was given explained the only way to increase the credit limit was by increasing my deposit. I was hesitant as I had a previous horrid experience with Capital One and their customer service confusion. I had an unsecured card with $300 limit that had not been activated and was in a car accident. It became part of the vehicle. To replace the card, they required the number - which I did not have as I no longer had the card. Okay, fair enough. They said they would send out a replacement card and it would be expedited. I waited and a month later, called again. Oh - you have to verify your identity. For a replacement card? Oh - ignore that. We sent you the card - it will be there any day. Another three weeks pass and I call again. I ask where the card is, when it was sent, why it hasn’t arrived. Oh - we didn’t send it. I ask to speak to a supervisor and an hour later, a nice lady in Nova Scotia explains my account was closed and the card cancelled. Would I like to reapply? Considering the number of different stories I had heard from the call centre reps, I passed on it.… show more
Jan 10, 2019
This deserves no stars.
I tried setting up a mobile payment on my CapitalOne app. At the time I was out of the country in Mexico. 3 separate times the payment came back as returned over the course of no more than 4 days. When I got back home to San Diego I called to take care of it - I was placed on hold for close to 45 minutes. I hung up because I had to go into a meeting. Called back in the very next day because when I checked my account both of the credit cards had been closed off due to the returned payments.
I had NEVER missed a payment with them. I got absolutely no call or heads up that they were going to close my account. They closed both of my accounts even when the other one had no returned fees.
Now they are saying neither account can be re-opened. Keep in mind I never had a late payment, called in to make it right, wasn't given any warning, and they come back with this. It's ridiculous. This is going to adversely affect my credit when their app was the reason I wasn't able to get my payment scheduled properly.
I DO NOT recommend this company to anyone. Unfair, unjust, unworthy. Don't open a credit line with them. I will be reporting their practices to the BBB as well as sharing this information with my network on every social media platform I have. Don't trust the cheerful TV commercials - it's all bullshit.
**The reviews on their website are fake since there is no where to leave one.
- Antouan Benbalit… show more
I tried setting up a mobile payment on my CapitalOne app. At the time I was out of the country in Mexico. 3 separate times the payment came back as returned over the course of no more than 4 days. When I got back home to San Diego I called to take care of it - I was placed on hold for close to 45 minutes. I hung up because I had to go into a meeting. Called back in the very next day because when I checked my account both of the credit cards had been closed off due to the returned payments.
I had NEVER missed a payment with them. I got absolutely no call or heads up that they were going to close my account. They closed both of my accounts even when the other one had no returned fees.
Now they are saying neither account can be re-opened. Keep in mind I never had a late payment, called in to make it right, wasn't given any warning, and they come back with this. It's ridiculous. This is going to adversely affect my credit when their app was the reason I wasn't able to get my payment scheduled properly.
I DO NOT recommend this company to anyone. Unfair, unjust, unworthy. Don't open a credit line with them. I will be reporting their practices to the BBB as well as sharing this information with my network on every social media platform I have. Don't trust the cheerful TV commercials - it's all bullshit.
**The reviews on their website are fake since there is no where to leave one.
- Antouan Benbalit… show more
Dec 29, 2018
This card is TRASH! I've had it 3 almost 4 years, no spending limit increase! Pays bill on time and I have other cards with higher limits (trust me, I know how credit works! ;-) )They have taken my available credit twice and not applied it my purchases! Saying I owe more than what is due! STAY AWAY FROM THIS CARD! TRASH. TRASH. TRASH
Dec 19, 2018
I'm a student who also works and makes $21,000 a year. I've never had a loan or credit card, and am looking to build credit. Capital One denied me for both their student card and this secured card. I give up with Capital One.
Oct 23, 2018
So far, so good. I got approved with a CS of 512 with a deposit of $200 for a limit of$200. After 6 moths they raised my credit by $300 for a total of $500 without further deposit. I haven't received my deposit back yet. I think it's too early or my CS is not high enough.
May 28, 2018
I applied for this card on March 16th, 2018 with a deposit of $49, which I paid right away. I received my card in the mail on March 27th. My first payment was due on May 14th which I paid in full about a week early. Capital One first reported to the credit bureaus on May 18th. My score was at 520 and increased to 604, that is an increase of 84 points! All that I could say was wow! And that was just from one report, I can\'t wait to see how much my score continues to go up! If you are debating on getting this card or not, don\'t hesitate you won\'t regret it. Thanks Capital One, I could not be happier!… read more… show more
May 09, 2018
I am very thankful for Capitol One.My scores have increased and I actually have offers now. I started with the CS with a 49 down for the 200 limit in January 2018. My scores were 520 Experian 572 Transunion and 612 Equifax. We are now in May and Transunion is 618 with Experian at 598 and Equifax is few points higher.They also will give you an increase after your 5th on time payment but the secure card will always stay secure.Also with the CS you have to wait 6 months to apply for the non secure platinum or the quicksilver a mistake i made at 5 months but thankfully did not get 2 inquires because you are not eligible till after that.They gave me a chance, when after many attempts i thought i had 0% chance will always be appreciative.… show more
May 02, 2018
Seems like several problems mentioned in the lower ratings could be avoided if people bothered to READ.
I've had this card for eight months. Got it because having no credit was not doing me any favors. I gave the minimum I had to ($99) for a $200 limit and, after reading it's best to stay under 10% of the limit, only ever spent $20 at a time before I paid it off. My credit score shot up faster than I imagined after two or three months. After six months of on-time payments, I was given a $300 increase for my credit limit. Completely unexpected, but very much appreciated, though I still stay under 10% of the limit. I've since gotten two more cards (Discover and CareCredit), but Capital One remains my favorite for its feature to lock the card. I know the account has to be closed get your deposit back. I honestly don't care. As long as I continue to have a positive experience with Capital One, I don't want to close to my account.… show more
I've had this card for eight months. Got it because having no credit was not doing me any favors. I gave the minimum I had to ($99) for a $200 limit and, after reading it's best to stay under 10% of the limit, only ever spent $20 at a time before I paid it off. My credit score shot up faster than I imagined after two or three months. After six months of on-time payments, I was given a $300 increase for my credit limit. Completely unexpected, but very much appreciated, though I still stay under 10% of the limit. I've since gotten two more cards (Discover and CareCredit), but Capital One remains my favorite for its feature to lock the card. I know the account has to be closed get your deposit back. I honestly don't care. As long as I continue to have a positive experience with Capital One, I don't want to close to my account.… show more
Mar 30, 2018
Applied for this card in Jan 2018 been paying on time my credit went from 540 to 680 yay!!!! It’s really builds your credit I only use my card for small purchases to keep my card active I love this card can’t wait till I’m in the 700 club lol
Mar 10, 2018
I wown this card for 5 Years and this is possibly the worse unsecure credit card that I’ve had and company that I ever dealt with. So First off I used to have an annual fee for this card in 2013 and when came around they got rid of it (apx 2015), so I called them and guess what they said ...NO to annual waivers. Ok cool. That was just one issue at that time but honest To me, This card is basically a way for Capital One to keep your money interest free for years until you close the account. Why? Well Basically you won’t get your money back until you close the account so it defeats the purpose of helping you build credit because you need to close it and lose points.. So yes they did help me get to a 790, well I did it because I knew what I was doing, but I lost 10 points for closing.. Now after a 780 credit score they offered me a credit card with 22.16% apr and all I did was laugh at them. So Instead I upgraded my card to a quicksilver (MISTAKE) and kept my $1500 credit limit and 22.16% apr? ** oh by the way it was a 25.99 quicksilver because I had the platinum and the other rate transfered over but after a call I got it to 22.16% omg I was jumping for joy!!! (sarcasm). By the way the highest rate stated 24.24% but I had 25.99% .....So now I wound up getting a Citibank, Wells Fargo(terrible), and my Hsbc cards with $36k limit and my highest apr is 14%.. Capital One bank are just crooks and they don’t value you as a customer but they see you as money and more money only.. 5 yrs meant nothing with this bank 750-790 credit score also meant 0 and all I get is $1500 with 22.16% apr QuickSilver because they declined my Savor!! They treat you like crap once you’re a customer.. I will never ever do business with these people.. Do yourself a favor and get the discover secure or Citibank secure card, because at least you get your money back without closing the account and they upgrade your card from a unsecure to secure.. Please take my review seriously.. I got myself from 490 to a 780 in 5 yrs.. Now my credit is spotless never been late, no derogatory comments, no nothing.. Thank You Capital One for being Snakes...… show more
Feb 27, 2018
I applied 2 times and were denied both times. My credit score is 590 and I have nothing but a few medical bills on my credit report. Don’t waste your time. Discover is much better. Discover actually says what it means when it says bad credit score.
Jan 29, 2018
Great card for those with bad credit or no credit. I had a $510 security deposit, which they increased by $300 in December. So, now I have an $810 limit after paying on time for 6 months! I usually pay in full on my cards. But I left a balance on my secured card ($25 - $50), and paid in full any additional charges I made on the card during that month. But I don't think it matters, as long as you pay on time for 6 months, they will increase your limit.… show more
Dec 07, 2017
I had no credit history, got approved for a basic $200 limit with $99 cash deposit. Capital One also enrolls you in Credit Steps, where you get an automatic increase in credit after 5 on time monthly payments. Mobile app is so easy to use, I can't imagine how I could mess it up. I'm 22 and working to build excellent credit, this is definitely a great first step if you're like me.
Nov 11, 2017
I got this card somehow with 10 collection accounts and a credit score of 500, 200 security deposit for 200 credit limit, Not sure how but am very glad I did, It has not reported yet as am excited to see what it will do for my score as I have raised my score to 549 and the simulator tools say I will get an 88 point bounce putting me at around 630, I have used the card a lot since I got it and have paid it all except 1 dollar, Am happy to have the oppertunity because am really getting serious about fixing my credit… show more
Sep 27, 2017
Not worth getting, choose a different company like discover. From high apr to low approval rate, even with the 25$ min isnt approved not to mention the hard inquiry that ruins your credit. Also lied about the annual fee.
01/29/18
What card are you referring to? Because the secured card doesn't have an annual fee, so you're accusing the wrong card. The only card they have with an annual fee is the Quicksilver, and they don't like about the annual fee. It's clearly stated in the fine print, and stated upfront before you apply for it. You either didn't read (like every consumer), posted a review about the wrong card, or posting false information to mislead people. But one thing is certain is that you do NOT have a capital one secured card because you would NOT have an annual fee.… show more
Sep 26, 2017
Don't waste your time unless you have 5 grand cash in hand to fund your account before you even get started...
Unlike all the other secured cards out there, Capital One will not let you add funds into the security account to increase your credit limit.
So if you opened the account with the minimum 49.00 to see if you like the card/services with plans on adding a couple of grand from future pay checks then do not bother.
My Secured Cards from Discover and Elan Financial both let me add funds daily if I wanted to.
Cancelling this card with 200.00 limit that is locked at 200.00, can't even use it to buy groceries or pay a power bill with it - useless!… show more
Unlike all the other secured cards out there, Capital One will not let you add funds into the security account to increase your credit limit.
So if you opened the account with the minimum 49.00 to see if you like the card/services with plans on adding a couple of grand from future pay checks then do not bother.
My Secured Cards from Discover and Elan Financial both let me add funds daily if I wanted to.
Cancelling this card with 200.00 limit that is locked at 200.00, can't even use it to buy groceries or pay a power bill with it - useless!… show more
Sep 03, 2017
Good so far , haven’t had any problems & they starting reporting a to credit bureaus a month later . Just waiting for my CL increase . Which is supposed to be next month with atleast $100 extra or more with no additional security deposit . As of right now I would definitely recommend . Helped my credit score almost right away
Aug 14, 2017
Beggars can't be choosers, but they can try with this secured card. Its the best bad credit, credit card you can put in your wallet. They even give people another chance, if you have had a card with them in the rears, so long as you show signs of getting things in order. The iPhone app is clean and updated to latest technology, payments post to available credit fast and its a big bank that doesn't scream, I have horrible credit when you use it. From personal life experience, Use it well and understand how to use it and they will keep you happy too.… show more
Jul 11, 2017
This card is the BEST to start off with. Post-bankruptcy discharge five year waiting period before credit re-build, got this one and a Discover (one month after this Capital One card; security deposit for Discover was $200, respectively, but necessary to build relationships with each of these companies). FICO score of 500. I put $200 security down on Capital One Secured credit card, acquiring a $351 credit line. Planned to keep it at the "sweet spot" of 10% (not 0 and not 30%), but wound up having to max out each month. The trick here for reporting is to pay most of it off (down to the 10%) either the same day, or the day after the charge, and even then, only well within the first week of the new cycle only, so as to always allow a buffer of at least 7-10 business days book-ending cycles (time for processing and or possible snafus). This shows high activity, immediate/ or very quick, near-full pay off, then, with AutoPay set up, it cleans up that remaining 10% on the account each month, and thus, reports that I am at 10% usage, at the time of reporting. Wait till the reporting period closes each monthly cycle, then (if absolutely necessary, do it again). After three and a half months (and monthly online credit line increase requests - which are not hard inquiries, so do not affect your credit report), I got a credit limit increase of DOUBLE, at $651. This was early according to all I read. I find it tremendously important and absolutely worth the some $30 odd bucks per month, to use my Experian account. I also have Credit Karma, but BE WARE, Credit Karma is free for a reason - it is a rough estimate and often inaccurate on various levels. Use both, but definitely Experian, and check it regularly. Also, get your AnnualFreeCreditReport; this is from the government, free, and a solid, accurate cross-reference resource tool. This IS NOT THE SAME THING AS FREECREDITREPORT.COM - which is shyte...don't pay for it (clue: .com verses .gov.). Two months later, I applied for several cc again (risking hard hits to my steadily climbing FICO score, which vacillated, yet rose up to 638), and got approved for two more cc's: my first unsecured card, a Capital One Premier (this might be on the "step system" also, along with the Secured card - I double, and triple-checked this with Capital One representatives regarding the initial Secured one). This new Unsecured card is with a credit line limit of $300. I immediately requested an increase on that one, and it is pending, though I am not sure if it will go through. If not, they say, request again in six months, as it is very likely to go through at that time, whether I get the increase now as well, or not. Another unsecured cc was approved too for a different company, credit line limit of $500, but I do not think that it is worth it in the mid-run: not a good card overall, for a quick (1-2 year) secured card duration of quick credit rebuild. Will decline and choose not to activate it. Would have to take a hit to credit score if I kept this one for only a year, and then closed it out, so not worth it. At this point, I am golden: wanted an unsecured, good credit card as soon as possible. Now I no longer will apply for cc's and thereby no longer take hits to my credit score by getting the hard inquiries. Will now, just maintain for the next 1-2 years, and wait for good unsecured offers (might apply for good/ great cards 3-6 months after FICO score has maintained at 700 or so, if not getting solid offers by then). Will also continue to add to my security deposit to the max ($2,500) for Discover, and get another Capital One Secured with an account opening security deposit of the max ($3,000), if at all possible. Will only do this for whichever company rolls the cash over into an unsecured account...can't recall at the moment which one does that, but pretty sure it is Capital One due to their "step system" for initial small secured and unsecured cards that I have verified as such with them for their current contracts. Won't do it for both though, as it is a waste of big cash for a card that, really, only needs to be used for a relatively short time (1-2 years maximum, pending solid offers from unsecured cards). Additionally, might go ahead and become an "Authorized Card User"; on a friend's cc (with no access or use of their card, of course), as they have terrific credit, and this will boost my credit in a safe way for their own credit (first, need to pay off current cc's, and keep all actively used at the "sweet spot" of 10%). Plan is going well, and it has only been a few months (Feb -July = 5 months). At this rate, if all keeps according to plans, and as I carefully pay down recent accounts and (even more carefully) pay old accounts (only directly to each company with correspondences, and proof of payment records, along with hawk eye on Experian reports to all three credit bureaus in case I have to dispute - and that is a whole other risk...)....will be in the Fair (650-699) to Good (700-749) credit range of FICO scores within a year and a half to two years. At that point, will be getting offers for good unsecured real credit cards. Capital One (and Discover) have the BEST CUSTOMER SERVICE too, which is of absolute high value to me. Oh, one other thing! This whole time, I have been getting offers in mail for slowly increasing amounts of credit. These are all forms: autos, cc, loans. They are awful cc offers, but I keep them in my records (along with all cc receipts for records on each account), so as to, a- keep motivated, and b- watch the pattern of offers that should be rolling into me in response to thorough reporting. I never use these bad offers, but they are good incentive, and check systems for my progress and reporting agencies double-checking. My goals soon after this are big (doctoral program, car, big move), so I need fantastic credit as soon as possible. Since credit is a lot about newly habituated patterns practiced and reported over time, I need to optimize every moment of that time that I can. I love to research with solid, non-affiliated parties too (Consumer Reports, NerdWallet, WalletHub, etc.), and learn all about this, and the next steps...personal wealth building with investments, and portfolios (gotta self-teach, as no one in my family knows money sense). It is fun! Good luck, fellow builders! :)… show more
Apr 22, 2017
ONLY if you must really have a credit card. Otherwise, stay away from this card. Took 4 months to report....and then only reported 1 month worth of payment history. Kinda sucks if you ask me. Better off trying DISCOVER and JETBLUE MASTERCARD... Much better credit limits and much better fair reporting.
Mar 18, 2017
First. There is an annual fee. It's said there isn't, and there is.
Next. Abysmal customer service; good customer service is necessary when dealing in personal financial matters. At least I think so; if I have a problem with an institution in regards to my money, I like being able to talk with someone directly about it. Capital One is one of those companies which make it difficult, to nearly impossible, to be able to get through the voice system or web interface to communicate with an actual living person.
Using the card isn't so much of a problem since MasterCard is accepted nearly everywhere.
Also? What has been noted about your deposit merits attention:
You give Capital One a deposit, and the deposit is held forever. Essentially you are paying for a credit card.
Update: After I posted this review my card was canceled. Capital One, evidently, does not enjoy lively public discussion about their customer's experiences.
Renewed Update: After I sent Capital One a copy of this review to their facebook page, asking for an explanation, my card was reinstated. Not my preferred way of doing business, which is the point of my review.
Another Update: Every time I try to use the card Capital One Card they decline the purchase ...with the continued level of customer service already described.… show more
Next. Abysmal customer service; good customer service is necessary when dealing in personal financial matters. At least I think so; if I have a problem with an institution in regards to my money, I like being able to talk with someone directly about it. Capital One is one of those companies which make it difficult, to nearly impossible, to be able to get through the voice system or web interface to communicate with an actual living person.
Using the card isn't so much of a problem since MasterCard is accepted nearly everywhere.
Also? What has been noted about your deposit merits attention:
You give Capital One a deposit, and the deposit is held forever. Essentially you are paying for a credit card.
Update: After I posted this review my card was canceled. Capital One, evidently, does not enjoy lively public discussion about their customer's experiences.
Renewed Update: After I sent Capital One a copy of this review to their facebook page, asking for an explanation, my card was reinstated. Not my preferred way of doing business, which is the point of my review.
Another Update: Every time I try to use the card Capital One Card they decline the purchase ...with the continued level of customer service already described.… show more
Mar 09, 2017
I am in love ;) Capital One is the best credit card I have ever dealt with. Started out with $200 deposit...in 6 months steady use without missing a payment I was given $500 in credit; after my first yr without missing a payment I got my $200 back in the form of a credit. The interest is the lowest I could find; out of all the other cards out there. (10% more at least) I have never had to use customer service since the day I called to get the card :D My credit has risen 50 points in this past year. Thanks Capital One… show more
Jan 01, 2017
this card been great to me would recommend this card n customer service been great to me
Dec 02, 2016
Finally got a decent paying job about a year ago. Currently making 35,605 a year. Filed a chapter 7 bankruptcy back in 2007, and have 6 negative collection accounts on my account. Current credit score 597. Ive messed up a lot but actually started at credit karma and they recommended this card to me saying I had a excellent chance of getting it. This site says i have a good chance. Just a heads up to some that are trying to rebuild their credit and think like i thought well if its a secure card and your giving them the money up front than what risk is it to them to approve you. Well after applying for it within 60 seconds it told me i wasnt approved and were going to be sending me a letter on the reason why. Now I have a hard inquiry on my account. Just giving a heads up for people that think its a guarantee because its not at all.… show more
Nov 11, 2016
I think it is a fair offer, I wish it would tell you how much you have to put down so you would know if you want to do it.
Jul 17, 2016
This card was recommended to me by my father, after I came to him asking about which credit card would be best for me in my married life. He recommended this card, as the down payments were relatively low, and could be made lower based on how well i am doing in my job. I've had this card for a little over a year, and all I can say is that I can't complain. My interest rates are a lot better than my past credit card.… show more
Jun 26, 2016
It wasn't hard to find a pre-paid card online. There are so many advertised.capital one prepaid card was my first choice after performing a simple google search, reviewing information on several sites,comparing the annual and monthly fees, withdrawal fees, swiping fees, for several cards. I decided capital one was, by far, the less pricey option and went with that one. Other cards charged too much,such as MasterCard pre-paid cards for example.. Their fees are ridiculous. So, I applied for my capital one card on their website and received the actual card about a week later. It was easy to activate online. No issues there. The fees are exceptional and if you activate direct deposit, there are none. I get to use the card and essentially pay nothing to do .… show more
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Last updated on: January 10th, 2020 at 09:43
Editor's Pick
Capital One® Secured Mastercard® is an Editor's Pick for:
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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 10th, 2020 at 09:43 ET