Minimum Credit Score Needed 
Limited History
Capital One® Secured Mastercard®
Minimum. Security Deposit:
$49, $99 or $200
$49, $99 or $200
By:
Capital One
Info about the Capital One® Secured Mastercard® has been collected by WalletHub to help consumers better compare credit cards. The financial institution did not provide the details.
Editor’s Take
John Kiernan, Credit Card Editor
Apr 7, 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.
Apr 7, 2020
Capital One® Secured Mastercard®'s Key APRs & Fees
| ONE-TIME FEES |
|---|
| None |
| ANNUAL FEE |
| $0 |
| MONTHLY FEE |
| None |
| REGULAR RATE |
|---|
| 26.99% (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
26.99% (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:
Related Credit Cards
If you are interested in the Capital One® Secured Mastercard®, check out the following credit cards as well:
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.
What credit bureau does Capital One Secured use? Reply 1
Frieda Reiss
@freiss
Capital One will pull credit reports from TransUnion, Equifax and Experian.
They pull all three for their secured offering because they want to reduce their risk by getting the most complete information possible.
1
Upvote
How much is the Capital One Secured credit card minimum payment? Reply 1
Robert Stark
@robert.stark
Your Capital One Secured credit card minimum payment will be the greater of $25 or 1% of your balance plus new interest and late payment fees.
1
Upvote
Can I get a Capital One Secured card limit of $1000 if I deposit $1000? Reply 1
JOSEPH BULEBUSH
@joeybule
You can get a $1,000 limit on your Capital One Secured card if you deposit $1,000. To increase your initial credit line, simply deposit more than your minimum required security deposit within 35 days of being approved and before you activate your card.
You can raise your initial credit line by the amount of your additional deposit, up to $1,000.
1
Upvote
Do I need to have a checking account to get the Capital One Secured? Reply 1
JAMIE THOMPSON
@ExTaxMan
You need a checkling account/bank account to get the Capital One Secured card.
1
Upvote
How quickly do I have to pay the Capital One Secured card security deposit after getting approved? Reply 1
HECTOR MOLINA
@hectormolina
You must make your required security deposit payment within 80 days of being approved. If you do not meet this deadline, the offer will expire and they will not be able to open an account for you.
1
Upvote
From what I’ve read it takes 2-3 weeks to receive your secured card after paying your initial deposit Is it possible to get it faster Reply 11
1
Upvote
Can you get approved for the Capital One secured card if you had a previous charge off with them? Reply 11
GINA MARTE
@ginamarte
It's hard to tell, as they will be evaluating the bigger picture: current credit score, time since the charge off, job status, income, etc. Many cardholders report being approved after a couple of years from the charge-off, so it that's the situation, you should give it a try.
1
Upvote
Can I use my Capital One Secured card with Apple Pay or Google Pay? Reply 1
Monica Durante
@monica_durante
Yeah, you can use your Capital One Secured card both with Apple Pay and Google Pay.
1
Upvote
Can I transfer this to a non-secure card after a certain time, as well as keep the same card number? Reply 1
1
Upvote
Does this card report as secured or unsecured? Trying to find the couple of cards floating out there that report as unsecured. Reply 1
Andrew McKinley
@andy_mckinley
It will not report as secured. It looks the same as an unsecured card on your report.
1
Upvote
Capital One® Secured Mastercard® Reviews
Share your insights and review the Capital One® Secured Mastercard®.
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
Comment
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! ^_^
Jul 18, 2012
I got my Capitol One secured card about 9 months ago, I've been really happy with it. I needed a secured card to help fix my credit score, but I'd been burned before getting one with a lesser known company. I like that Capitol One was legit, I also REALLY liked that they report your card to the big 3 credit agencies the same as a regular unsecured card so you get the full credit score bump available. I've been using my card regularly and paying it off within 30 days, and I just called and they let me convert it to a regular unsecured card! I've also seen the bump I was hoping for in my credit and it's helped me alerady, just got approved for a new apartment that had a minimum allowed credit score that I wouldn't have reached before I got this card. I definitely recommend it.… show more
Jul 18, 2012
I use this card as my main credit card. I recommend it, application was easy, customer support is awesome. Capital one's website is easy to use and have never had any problems. You have to remember that a credit card is a revolving loan though, you can't be irresponsible when using them. In many instances using a credit card such as this one is better than a card tied directly to your bank account. Credit cards have many advantages, and it's much easier to deal with reversing charges on a stolen credit card than a debit, as you don't lose any cash on hand.… show more
Jul 18, 2012
As a young college student, I don't have many options in my area for the type of credit card I can obtain. The card lets me build credit without having to worry a lot about not being able to pay it back because they allowed me to keep a low limit which was easy to manage. I didn't care much for MasterCard after having a Visa for so long, but the change wasn't noticeable and I was able to use the card in most places to help me grow my credit and apply for a more favorable credit card.… show more
Jul 18, 2012
Also, if you feel you are capable and if you continue to make your payments on time for six months, they extend you a higher line of credit. You can choose to keep this or reject it. If you can afford it and keep it, it will continue to build your credit, but like I said previously don't abuse it.
Jul 18, 2012
This card is a great way for people with poor credit to rebuild their credit. This is a secured card, but they did not require me to make a deposit which for me was awesome. This card does a great job at helping to rebuild credit as long as you don't abuse it. Don't overextend yourself and you will remain pleased with this card.
Jul 18, 2012
I have had a decent experience with Capital One. I was building my credit and actually had no other credit cards or loans, so I was doubtful they would even give me a card but lo and behold they did. It had a $300 credit limit so I could start to build up my credit, after 6 months they raised that up to $500 automatically which I felt was a very consumer friendly thing to do. The only downside to Capital One is for one, when you call their customer service you get someone with a very thick accent and they are nice enough, but they don't seem to grasp the English language as their first language. This is somewhat frustrating as it is difficult for them to understand what you are trying to say, they can help with basic things such as balance, make a payment, resend a statement, but specific problems they have a hard time grasping. Also to note is their interest rate is pretty high if you have bad credit or no credit. Very high APR so be careful about keeping a high revolving/cash advance balance as they make a killing off the monthly interest.… show more
Jul 12, 2012
I've had many credit in many companies, but to be honest this one has served me the greatest, most other companies "credit cards" usually take one or two days to transfer money or whatever this one helps me get it in 5 - 6 minutes, even when I left for work in another country it still worked, I recommend it not like on of those company advertisements, I'm a normal person just advising because I just like to make the world a better place, and this is one step their... and by that I mean that you can help yourself first then the rest, and who ever disagrees with me, can go ahead and try other credit cards, and see if it doesn't close in 4 months or so.… show more
Jul 12, 2012
When my credit rating was shot, I was in desperate need for something to help repair it. I had tried other credit cards by other companies but that only seemed to compound the problem. Then I came across this beauty. This card is the best thing I have in my wallet. I've really never been that great with money so the fact that this card has checks and balances to make sure that I'm not spending too much is perfect. The rewards are pretty great also. The flexibility and functionality are primarily what drew me to this card but I stayed for all of the awesome benefits that are also offered. I highly recommend this to anyone who is looking to get back on their feet financially or who just needs a solidly dependable credit card.… show more
Jul 12, 2012
The Capital One Secured Mastercard is a decent card. I was given a meager credit line when I first received my card. I simply waited a few months, made a couple purchases and requested a limit increase, which they granted. My interest rate is very high, but I have brought it down by paying my bills on time; however, it is still much too high for my liking. I only had one issue with my customer service reps, and it occurred when I was mistakenly given a late fee for a bill that I paid on time. I called about it and they took it off my account with no hassle. They were very kind and worked with me quickly to resolve the issue.… show more
Jul 12, 2012
If you need to rebuild or improve your credit, this is a great card. It does have a monthly fee (which is low) and a high interest rate (makes sense considering their high approval rate) but if you pay off your balance each month the interest rate won’t be an issue. I got this card to help my credit, I put a few things on each month and pay my bill in full at the end of the month. Capital one has a good online banking setup and good customer support. If you’ve had issues with credit in the past, this is definitely a card to consider to help you rebuild your score.… show more
Jul 12, 2012
I got the Capital One Secured Mastercard a few months ago, and since that time it has been not only reliable but also a wise decision on my part. I decided to go through Capital One because aside from being a well known credit card company, it also had the lowest initial deposit I have personally experienced. I received the card within a few weeks, but at the time it hadn't come with a welcome packet. So I called the 800 number and spoke to a very helpful and genuinely concerned representative who went ahead and resent the kit with no hassle at all. I have had nothing but good experiences with this card, and since having it my credit score has gone up a bit. Capital One has so far done an outstanding job accurately reporting payments and increases in credit. I am more than looking forward to my continued use of this card.… show more
Jul 11, 2012
Nothing but kudos from me for the Capital One secured card. I started with a Capital One prepaid card and was very pleased when a representative from Capital One called and suggested I move into their secured Mastercard program. Did it mean more money for Capital One? Absolutely, but the benefits to me far outweighed the slightly higher fees and requirements. Maybe I got lucky, but the representative worked with me for many months as I slowly built up a good reputation and they increased my credit line more and more with no further security deposit required. After 11 months of responsible use, while my credit started getting better and better, I was upgraded to a full credit account with Capital One.
I did not have the issues others have reported regarding my security deposit because I had it transferred to my new account and it was used a credit on that account. I do know that it definitely helps to get to know the name and extension of a representative and work with them exclusively, or for as long as possible. And don't be afraid to be perfectly honest with whomever you speak with. If your goal is credit repair, they can give you some great tips.
Pre-paid cards have their place for many and are great starter cards to learn financial responsibility, but they do little to nothing to help repair poor credit unless they report to the credit reporting agencies. Capital One reports to the big three and provided the biggest boost to my credit rating in the shortest amount of time.… show more
I did not have the issues others have reported regarding my security deposit because I had it transferred to my new account and it was used a credit on that account. I do know that it definitely helps to get to know the name and extension of a representative and work with them exclusively, or for as long as possible. And don't be afraid to be perfectly honest with whomever you speak with. If your goal is credit repair, they can give you some great tips.
Pre-paid cards have their place for many and are great starter cards to learn financial responsibility, but they do little to nothing to help repair poor credit unless they report to the credit reporting agencies. Capital One reports to the big three and provided the biggest boost to my credit rating in the shortest amount of time.… show more
Jul 03, 2012
the card is pretty good. I started with a low limit but after a few months of careful and responsible use the upped the limit and then again about a year later. The online system the have in place is great and reliable. It updates quickly so you don't have to worry about whether or not the site has been updated with your recent purchases or not. My credit score has gone up since I got this card and overall I have had a very pleasant experience. I recommend this card to anyone who has a low credit score and seeking to increase their score.… show more
Jul 03, 2012
I have to say that this card helped me rebuild my credit history. I was in the tank about 5 years ago as far as credit is concerned and within a year, I had rebuilt my credit rating with this card. It truly is a miracle worker. I do regret one thing...not keeping it the way it was. I rebuilt my credit, and then bought a house. After all of that, I really wanted to purchase a few things for my new home, so I changed this card with Capital one to an unsecured one (yes, one that charges interest!). Still, I didn't go hog wild. I just kept it to a minimum and tried to pay it off every month.
This really is a good card to have.… show more
This really is a good card to have.… show more
07/16/12
Great idea trying to pay off your credit card bill every month. US consumers are projected to add $50 billion in credit card debt this year, largely because people spend more than they can afford to pay back each month. It’s important to note, however, that secured credit cards charge interest, just like unsecured credit cards. I guess the fact that you didn’t notice just means you were always on top of your payments!
Jul 03, 2012
This was one of the worst companies that I have ever had the displeasure of dealing with. The card was in my husband’s name and even though he put my name on the account, we always had problems when I would call. Every time I would call customer service, I would be on hold for god knows how long and then everyone would be so rude and condescending even when I had just a simple question. They were not helpful when I had suspicious charges on my card. Someone had bought a television and I knew something about it. It turns out my husband’s card had been stolen and he didn’t know. They insisted that he bought it and was hiding it from me. It was ridiculous. Closing this account was the best thing I've ever done.… show more
Jul 03, 2012
The capital one card is a very good card, they are one of the few cards that will allow those with bad credit to acquire a credit card. This card has been extremely essential in bringing up our credit scores and getting some positive credit reporting. The credit card is convenient and accepted at every location in which I made a purchase. My only complaint is that you must pay your account a few days ahead of time; because if you pay the day of or the day before you stand a chance of the payment being late. Other than this one incident I truly do enjoy this credit card.… show more
Jul 03, 2012
I have had this card for about six months, and I tell you I am happy that I got it. My credit score has already gone up and because of six months of good credit with this card I was able to open up a credit card with my bank that I was previously denied because I did not have any credit of this type. This card is for those who need a second chance and understand how to be responsible and open up a card and not spend more than you know you will be able to pay back. I am happy about second chance cards like this. The first time around when I got a card back in my teens I messed up my credit. Many years later I am able to rebuild my credit. Thank you Capitol One for giving me a second chance.… show more
Jun 27, 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
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: April 7th, 2020 at 06:12
Editor's Pick
Capital One® Secured Mastercard® is an Editor's Pick for:
Related Credit Cards
If you are interested in the Capital One® Secured Mastercard®, check out the following credit cards as well:
Related Credit Card Categories
Capital One® Secured Mastercard® 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: Apr 7th, 2020 at 06:12 ET