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Capital One® Secured Mastercard®

Capital One® Secured Mastercard®

 

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Your Rating:

3.9/5.0 from 24 Offer Ratings
Over the Past 60 Days!

(24) 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

  • Card Brand Mastercard®

Card Details

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

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

Ongoing Information

Rewards Rate Non-rewards card

Annual Fee $0

Expert Reviews

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.

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

Consumer Reviews

  • star rating mask

Offer Rating

3.9/5.0

24 Total Ratings

5 Star
 
 
(5)
4 Star
 
 
(12)
3 Star
 
 
(6)
2 Star
 
 
(1)
1 Star
 
 
(0)

Your Rating

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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.

+21 users submitted a rating without a full review

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117 Found this review helpful

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By: | Apr 28, 2016

This card has really helped to improve my credit score. Making my payments on time and the fact that it reports to the credit agencies really help. Someone attempted to use my card and it was declined right away and I was notified by the app and I was able to cancel my card and have a new card shipped to me right away. When I call, whoever I talk to is always polite and helpful!

153 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.

123 Found this review helpful

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By: | Sep 22, 2014

love this card

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