Rated 4/5 stars by our editorial team
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4.0/5.0 from 1 Offer Rating
Over the Past 60 Days!
Regular Purchase APR
Intro Purchase APR
Intro BT APR
Typical Credit Needed
Foreign Transaction Fee
Balance Transfer Fee
$0 at this Transfer APR
Cash Advance Fee
3% of the amount of the cash advance, but not less than $3
This card is meant for those who have bad credit and want a card that helps them rebuild it, while also delivering the convenience of carrying plastic instead of cash. The minimum security deposit can range from $49, $99, or $200. You can make partial payments but need to make sure you've made your full, required deposit within 35 days of being approved.
The interest rate on this card is 29.74% (Variable) and there is now no annual membership fee. For people with damaged credit though, those rates are a small price to pay for the chance to rebuild your credit. The Capital One Secured MasterCard also reports to the “big three” major credit bureaus on a regular basis. So, if you are paying your bills on time and not using more than 25% of your available credit – two strategies recommended by credit improvement experts – then that will help you in your credit building efforts.
This card now comes with no annual fee, making it one of the few secured cards without it. The Capital One Secured MasterCard is a nice alternative for someone with poor credit who wants a chance to rebuild their credit.
There is no balance transfer fee at the 29.74% (Variable) balance transfer APR, and you can sign up for free enrollment in online tools to help you track your credit score. You can also earn opportunities for a credit line increase based on your payment history and credit worthiness.
The APR is 29.74% (Variable). You also have to put forth a security deposit in order to get this card.
Editorial Note: This content is not provided by Capital One. Any opinions, analyses, reviews, or recommendations expressed on this page are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by Capital One.
4.0 out of 5.0