Capital One Platinum Secured Credit Card
Reviews
Trusted & Secure
Empowering over
50,000,000 card holders
Since 2005
- Regular Purchase APR 29.99% (Variable)
- Intro Purchase APR N/A
- Intro BT APR N/A
- Annual Fee $0
- Credit Needed Limited/Poor
- Card Brand Mastercard®
- Regular Purchase APR 29.99% (Variable)
- Intro Purchase APR N/A
- Intro BT APR N/A
- Annual Fee $0
- Credit Needed Limited/Poor
- Card Brand Mastercard®
Highlights
- No annual or hidden fees. See if you're approved in seconds
- Building your credit? Using the Capital One Platinum Secured card responsibly could help
- Put down a refundable security deposit starting at $49 to get a $200 initial credit line
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- Get access to your account 24 hours a day, 7 days a week with online banking to access your account from your desktop or smartphone, with Capital One's mobile app
- For Capital One products listed on this page, some of the benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
Card Fees
None
Balance Transfer Fee applies to balances transferred at a promotional rate
None
Ongoing Information
Non-rewards Card
$0
Expert Reviews
From the CompareCards.com Editorial Team, updated on May 07, 2024
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 refundable security deposit starts at $49 to get a $200 initial credit line. 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 29.99% (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 Platinum Secured Credit Card 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 Platinum Secured Credit Card
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 is a nice alternative for someone with poor credit who wants a chance to rebuild their credit.
The Good
With this card, 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 Not so Good
The APR is 29.99% (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
OFFER RATING
/5.0
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Highlights
- No credit score required to apply.
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See additional details for Discover it® Secured Credit Card
- Rewards Rate 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply)
- Credit Line Put down a refundable $200 security deposit to get a $200 initial credit line.
- Regular Purchase APR 29.99% (Variable)
- Annual Fee $0
- Credit Needed Limited/Poor
- Card Brand Mastercard®
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- Regular Purchase APR 29.99% (Variable)
- Annual Fee $0
- Credit Needed Limited/Poor
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Highlights
- No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
- Put down a refundable $200 security deposit to get a $200 initial credit line
- Building your credit? Using a card like this responsibly could help
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
- For Capital One products listed on this page, some of the benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
See additional details for Capital One Quicksilver Secured Cash Rewards Credit Card
- Improve Your Credit Score Free Credit Bureau Reporting
- Credit Line $200 - $2,000 Credit Line*
- Regular Purchase APR 15.24% (Variable)
- Annual Fee $49
- Credit Needed Limited/Poor
- Card Brand Mastercard®
- Improve Your Credit Score Free Credit Bureau Reporting
- Credit Line $200 - $2,000 Credit Line*
- Regular Purchase APR 15.24% (Variable)
- Annual Fee $49
- Credit Needed Limited/Poor
- Card Brand Mastercard®
Highlights
- 1% Cash Back Rewards on payments
- Choose your own credit line - $200 to $2000 – based on your security deposit
- Build your credit score.¹ Reports to all 3 credit bureaus
- No minimum credit score required for approval!
- ¹ Cardholders who keep their balance low and pay their credit card bill on time every month typically do see an increase in their credit score.
See additional details for First Progress Platinum Prestige Mastercard® Secured Credit Card
