Capital One® Secured MasterCard®

Card Details

 

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Your Rating:

4.0/5.0 from 127 Cardholder Reviews Over the Past 60 Days!

(127) Over the Past 60 Days!

  • Regular Purchase APR

    24.99% (Variable)

  • Intro Purchase APR

    N/A

  • Intro BT APR

    N/A

  • Annual Fees

    $0

  • Credit Needed

    Limited/Bad

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
  • Your minimum security deposit gets you a $200 credit line
  • You may qualify for a credit line increase based on your payment history and creditworthiness with no additional deposit required
  • 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

Returned Payment Fee See Terms*

Penalty APR See Terms*

Minimum Interest Charge See Terms*

Ongoing Information

Rewards Cap Non-rewards card

Rewards Rate Non-rewards card

Annual Fee $0

Grace Period 25 days

Expert Reviews

From the CompareCards.com Editorial Team

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, 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. 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.

Expert Reviews of the Capital One® Secured MasterCard®

  • 2.5

    Regular APR

  • 2.5

    Intro APR

  • 4.0

    Fees

  • 2.5

    Benefits

  • star rating 4.0/5

    Overall Rating

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 have not been reviewed, approved or otherwise endorsed by Capital One.

Consumer Reviews

  • star rating mask

Overall Rating

4.0/5.0

127 Total Ratings

5 Star
 
 
(5)
4 Star
 
 
(114)
3 Star
 
 
(7)
2 Star
 
 
(1)
1 Star
 
 
(0)

Your Rating

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+125 users submitted a rating without a full review

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38 Found this review helpful

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By: | Sep 22, 2014

I applied five months ago and did not have a credit score at all as I had not had any reporting on my bureau in years. With 5 months of on-time payments I now have a decent score and was able to qualify for an unsecured card with another lender.

19 Found this review helpful

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By: | Sep 22, 2014

love this card