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Capital One Platinum Secured Credit Card

Capital One Platinum Secured Credit Card

 

Rated 4/5 stars by our editorial team

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Your Rating:

3.9/5.0 from 9 Offer Ratings
Over the Past 60 Days!

(9) Over the Past 60 Days!

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  • Regular Purchase APR 29.74% (Variable)
  • Intro Purchase APR N/A
  • Intro BT APR N/A
  • Annual Fee $0
  • Credit Needed

    Poor/Limited

  • Card Brand Mastercard®

Card Details

Highlights

  • Click "APPLY NOW" to apply online
  • 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 $0 at this Transfer APR

Cash Advance Fee 3% of the amount of the cash advance, but not less than $3

Penalty APR None

Ongoing Information

Rewards Rate Non-rewards Card

Annual Fee $0

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.  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 29.74% (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 Platinum Secured Credit Card

  • 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 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 at the 29.74% (Variable) balance transfer APR, and 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 29.74% (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

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Offer Rating

3.9/5.0

9 Total Ratings

5 Star
 
 
(1)
4 Star
 
 
(6)
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(2)
2 Star
 
 
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