Capital One® Secured Mastercard®

Cardholders' Choice i
Cardholders' Choice i
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  • 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
Annual Fee:
$0
Purchase Intro APR:
N/A
Purchase Regular APR:
24.99%*
Variable
Balance Transfer Intro APR:
N/A
Balance Transfer Regular APR:
24.99%*
Variable

Details, Rates & Fees

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* See the online Provider's credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the 'Apply Now' button, you can review the credit card terms and conditions on the provider's website.

Cash Advance Rate 24.99%* Variable
Cash Advance Fee 3%, Min: $10
Late Fee Up to $35
Penalty APR None
Balance Transfer Fee $0
Foreign Transaction Fee None
Return Payment Fee See Terms*

Cardholders' Reviews

The following information and reviews are brought to you by Credit Karma and/or its users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.
Most Helpful Positive Review
Thelma85
Great to help build credit!
by Thelma85
Helpful to 2237 out of 2313

I applied for this card with a score of 560 in Feb 2016 and was approved with a minimum deposit of $99. I made a $100 deposit and they gave me a limit of $201. I use this for small purchases here and there (Birchbox subscription, gas, fast food) and paid more than my minimum payment every month, usually I would pay the entire balance. I logged in this evening to pay my balance of $43 and now my credit limit says $501! So in 11 months they upped me $300. More importantly, in 11 months my credit score has gone from a 560 to a 682 and I was approved for a Southwest Airlines Rapid Rewards card with a $4,000 limit! 

The following information and reviews are brought to you by Credit Karma and/or its users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.
Most Helpful Negative Review
Verapera
Good, but there are better options
by Verapera
Helpful to 847 out of 902

I applied without a credit history, and this card did help me build my credit from mid 600 to 720 in 8 months. I have no complaints about customer service or the card itself, but I will say that there are better options. I have used the card responsibly, but am ineligible for a credit limit increase or product change. My secured Discover card, on the other hand, became automatically unsecured at 6 months, and I was recently approved for a $2,500 increase. In addition, it even offers cash back and a matched bonus after the first 12 months. In short, this card is fine, but there are other secured cards that may allow you to build credit even faster. I would recommend shopping around before settling on this one, depending on your situation.


Our Take

The Capital One® Secured Mastercard® is a good option for people with little or no credit history who are looking to build their credit.

What to Like

This Capital One® Secured Mastercard® has no set up or processing fees. Capital One® reports to all three major credit bureaus so you can take steps to build your credit history. While this card does require an initial security deposit, Capital One® may increase your credit limit without any additional deposits if you use your credit responsibly.

Look Out For

Secured credit cards are great for building credit, but they typically come with annual fees and a required security deposit - and without rewards. It’s important to use your credit responsibly in order to build toward a card with more attractive perks.

Similar Offers

† Credit Karma looks at how your credit profile compares to other Credit Karma members who were approved for this product. Of course, there's no such thing as a sure thing, but knowing whether your Approval Odds are Very Good, Good, Fair or Poor may help you narrow down your choices.

‡ Average score refers to the arithmetic mean, typical low score to the 5th percentile and typical high score to the 95th percentile of, in each case, available VantageScore 3.0 credit scores provided by TransUnion of Credit Karma members who were approved for this product from March 2017 through August 2017. Average and typical approved scores are provided as guidelines only and approval is not guaranteed. You can learn more about credit card approval through our in-depth article.

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