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Capital One® Secured Mastercard®

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Capital One® Secured Mastercard®

 

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  • Regular Purchase APR

    24.99% (Variable)

  • Intro Purchase APR

    N/A

  • Intro BT APR

    N/A

  • Typical Credit Needed

    500

    600

    700

    850

  • Annual Fee

    $0

  • Card Brand

    Mastercard®

Highlights

  • Click "APPLY NOW" to apply online
  • 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
  • You will get an initial $200 credit line after making a security deposit of $49, $99, or $200, determined based on your creditworthiness
  • 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

Card Fees

  • Late Payment Fees

    Up to $35

  • Foreign Transaction Fee

    None

  • Balance Transfer Fee

    $0

  • Cash Advance Fee

    3% of the amount of the cash advance, but not less than $10

  • Penalty APR

    None

  • Minimum Interest Charge

    See Terms*


Expert Reviews

  • Regular APR

    2.5

  • Intro APR

    2.5

  • Fees

    4.0

  • Benefits

    2.5

  • Overall Rating

    4.0 /5

From the CompareCards.com Editorial Team

The Capital One® Secured Mastercard® 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, depending on your creditworthiness, and can be paid over an 80 day time period after approval.  

The interest rate on this card is 24.99% (Variable) and there is now no annual membership fee. However, for people with damaged credit, 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.

The Bottom Line

This card now comes with no annual fee, making it one of the few secured cards without it. The Capital One® Secured Mastercard® by is a nice alternative for someone with poor credit who wants a chance to rebuild their credit.

The Good

There is no balance transfer fee, and you can sign up for free enrollment in online tools to help you track your credit. You can also earn opportunities for a credit line increase based on your payment history and credit worthiness.

The Not So Good

The APR is 24.99% (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.

Expert Reviews of the Capital One® Secured Mastercard®

  • Regular APR

    2.5

  • Intro APR

    2.5

  • Fees

    4.0

  • Benefits

    2.5

  • Overall Rating

    4.0 /5


Consumer Reviews 0 Reviews

Your Rating

There is nothing we value more than the opinions of our customers. We encourage open discussions among all users and hope we can all share advice. Please keep our site clean and safe by following our posting guidelines and please, don’t disclose personal information like your credit card numbers or account information.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

+-9 users submitted a rating without a full review

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By: | Jul 23, 2017

The people thatThey are here to help.

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By: | Jun 14, 2017

I needed to build up my credit score in order to get a mortgage. Capitol One gave me the opportunity to rebuild my credit score with no annual fee like most other credit card company. And the initial deposit was only $99.00 to get a $200.00 card awsome job Capitol One. I would recommend them for sure. In 3 months I will know for sure if it will help me or not. I will keep you posted on the outcome.

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By: | May 31, 2017

I have been denied twice by CapitalOne and wished they would just let me deposit an introduction fee. I am in a better financial place opposed to earlier in my life. Financial institutions should look at closely how long it was since a bad report was issued on a person's credit score, i.e., 1980 to the present.

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By: | May 15, 2017

Need help improving my credit

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By: | Oct 11, 2016

This card is supposed to be for people trying to rebuild their credit which is what I wanted to use it for. They denied me with a 575 credit score. The only reason I applied is because It said people with lower credit score than this will be approved. I was denied and now have a hard credit check on my credit report.

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By: | Sep 19, 2016

I absolutely love this card & this company!!! They have been very good to me with increases when I needed them in a pinch and customer service is great!!! Definitely recommend for new credit users/rebuilding credit users!!! 5 stars all the way, you can't go wrong with this company/card!!!

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By: | Aug 22, 2016

Ii think they truly care about the customers and go out of their way to help

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By: | Mar 2, 2016

I thought I wouldn't have any good options for a credit card since I have poor credit score, but this card is great! Helps me rebuild my credit and keep a track of it in a easy and secure manner.

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By: | Mar 1, 2016

Good starter card. Had this as my credit card when I was starting out. Definitely helped build my credit.


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