Capital One Platinum Secured Credit Card | CompareCards.com

Capital One Platinum Secured Credit Card

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Capital One Platinum Secured Credit Card

 

Rated 4/5.0 stars by our editorial team

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Rates & Fees
  • 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

Foreign Transaction Fee

None

Balance Transfer Fee

Balance Transfer Fee applies to balances transferred at a promotional rate

Penalty APR

None

Ongoing Information

Rewards Rate

Non-rewards Card

Annual Fee

$0

Expert Reviews

From the CompareCards.com Editorial Team, updated on Apr 16, 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

  • 2.5

    Regular APR

  • 2.5

    Intro APR

  • 4.0

    Fees

  • 2.5

    Benefits

  • 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 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.

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Rated 4/5.0 stars by our editorial team

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