Capital One® Secured Mastercard® Reviews

Capital One® Secured Mastercard® Reviews
Approval Odds

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4.0 out of 5 stars
373 Reviews

From Cardholders in the last year

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ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4 out of 5 stars

Customer Service

4 out of 5 stars

4 5

Card Details

  • Balance Transfer Intro APR Not Applicable
  • Balance Transfer Regular APR 26.99%* Variable
  • Annual Fee $0
  • Purchase Intro APR Not Applicable
  • Purchase Regular APR 26.99%* Variable
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Most Helpful Positive Review

Jun 11, 2019
Works exceptionally well!!
Tyquaun Cardholder

So I promised myself I would add a review if things worked out well for me, and they did! I started with this card with virtually no credit score. I was approved for a $200 credit limit with no money down. However, I added additional money to give myself a higher limit. So I am near the six month mark and ck shows I have a score of EF 683 and TU 684. However, this was grossly off. When I was alerted I have a new FICO score from my bank, upon viewing it, my score was 747. Wow! So it took me a few days to make a decision of applying for a new card. I’m very mindful of how to use my credit after working so hard for it. I want to diversify my credit so I have to space out my credit applications. This is mostly for big purchases such as a home, car, etc... Generally, I will wait 6 months in between credit dings. So I applied for an Amex and I was approved! I’m very excited to say the least. 

I accomplished this by always allowing my statement balance to close and be reported at 1% utilization rate. After my statement balance closes, the very next day I pay off that 1%. So when the due date comes around to pay off my balance. I don’t have one! Also, pay multiple times per month just to keep your bill low. Just ensure your statement balance close at anything below 10% utilization. 1% is the most optimal range. 

Just wait, be patient, and vigilant and good things will come. Follow those rules and you will have amazing credit. Everything else comes with more time, higher limits, score increases = lower interest rates!

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Most Helpful Negative Review

Dec 05, 2018
Exemplary
ChasingCredit366 Cardholder

I just started caring about my credit at the age of 29. My score started out at 517and I was clueless on how to bring it up. I started asking around and started researching for myself. Literally everyone/everything always had "Capital One" somewhere in it. I decided to go for it but I knew my score was low and had NOT ONE previous credit card. I went with the secured card from Capital One and low and behold I was approved but did have to drop the $200 for my deposit. ALL WORTH IT! Not even a month in, my score jumped to 640! With all the research I done I knew to keep my utilization low and pay in full each month. I just hit my 6th month and Capital One gave me the $300 increase they promised and I applied for a store card which was approved for $200. My score is now 685 with a CL at $700. Probably still low compared to some but I'm extremely proud of myself and UP is the only way to go from here. Building credit definitely takes time so don't get discouraged. Be patient and DO IT RIGHT and I promise you it will come. Good looking Capital One!

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These reviews were written by current and former cardholders in the last year.

Nov 15, 2019
A little disappointed by their report
Rutitay07 Cardholder

I have the card for 7months now, and I was patiently waiting for updates of their reports. I like the card coz it helped me build my score way up for the 4mons using it but just 2 to 3mons ago I noticed that they report IMMEDIATELY the balance but it takes like 3months to for them report you already paid it off...3months ago I had to use the card for urgent in like 15% of my credit limit, then I paid it off before the due. I waited like 2months if it will show to my record, unfortunately it's already 3months now and the balance is still the same. Making my credit score lower or not moving. I am thinking to cancel this card and get a different one. Any suggestions?

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Nov 16, 2019

Do not close your card. I know you want to see if your credit scores have gone up but closing your card could cause your credit rating to drop. Just don't use the card for any further purchases. They should be reporting scores quarterly, normally that is how it is done. Use Credit Karma or a similar secured credit site to check your scores (I know Credit Karma is great for updates) and periodically check, (Credit Karma usually emails you.) But if you close your card now, it will have a negative impact on your credit rating. If you do need to use your card, use it for small purchases which you can pay off easily which will show consistency.

 
Nov 17, 2019

its not capital one its the Reporting agencies, the lag behind one another alot during certain times of the year be patient eventually your profile will calibrate itself in the CRA

 
Nov 14, 2019
Great starter card!

Got approved for this card with a $49 down payment. Just got my 6 month increase to $500 limit. Not sure why people are saying it’s inadequate, it worked and still works well for me. Capital One app is a breeze to use and my credit scores are going up due to responsible use. 

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Nov 11, 2019
Great Card to rebuild credit
Jolewilder Cardholder

This card along with one-time payments to my Mortgage company has help boost my CS from 408-599 in 6 months.
I keep my utilization between 1-5% and never carry a balance. The also increased my CL to $500 after 5 months just like they said they would automatically. Very happy with this Card

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Nov 10, 2019
Excellent starter card
LesleyF Cardholder

This card eill give your credit the boost it needs. Just always pay in full each month and remember to keep the utilization low.

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Nov 05, 2019
One Month in and already see CS increase

I am just finishing the bankcruptcy process so of course my CS across the board starting at an average of 460-ish.  After only one month with my card with a $300 limit I saw an increase of +58 points on Experian, +57 points on Equifax and +62 points on TU.  I keep my utlization between 30-40%, I make 2 payments BEFORE my due date. I will continue this as I know that this credit rebuild will take time but I am willing to wait for this hard work to pay off and so far, just one month in, it is showing positive benefits! 

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1 Reply
Nov 05, 2019

How long did you wait to apply after filing bankruptcy

 
Nov 05, 2019
Better then credit one hands down

It's a great card for begginers as long as you at least make your minimum payment on time every month before you know it you will get a credit limit increase and other offers will cone your way if you choose to take them.

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Nov 02, 2019
Nanomiami43 Cardholder

I apply for several cards trying to staring over my credit and finally I got approved by capital one platinum, the credit limit is only $300 but I am still exciting for the future... and I know this is the only the biguine for a new history... so I recommend for people like me have been applying and no luck ... my scores is 660 590 

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Nov 04, 2019

With high or low inquires? I am really nervous about applying for this card. I got declined a few years ago..

 
Nov 04, 2019

you should have got the Securdd Discover card because this catd do not Graduate no more and it will be stuck at 500 dollar limit until you close it

 
Nov 09, 2019

In my case with high inquires ... I don’t know I think it’s was just lucky... it’s my first card after a disaster and trying get back in track 😁

 
Nov 02, 2019
Good for rebuilding, bad for long-term
shortaru Cardholder

I was approved to open this card with the $49 deposit, so which I added an additional $500 deposit for a $700 credit limit.

After making payments on time for five months, my limit was only increased $300, so I applied for the the unsecured Discover It card and was immediately approved for a $2500 limit.

I find it strange that a company that I have no history with is willing to extend me more credit than one I've shown a history of responsible use for AND HAVE A DEPOSIT WITH.

Grab it if you need it, rebuild, then let it collect dust as soon as you're comfortable applying for a better card.

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Nov 01, 2019
lilaaron95 Cardholder

I love Capital One! Amazing card! Good for credit repair & score boasting!

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Nov 01, 2019
Hasn't been a good experience
MStanD Cardholder

I would not recommend this card for anyone Capital One Secured card never get unsecured and getting a credit line increase is like pulling teeth and we all know that's painful no matter how responsible you are with using the Capital One Secured card even after a year they will not give you a credit line increase they constantly tell you your account is periodically reviewed we all know that is BS  bypass on getting this card even if you have bad credit I recommend discover secured card they will unsecured the card after 5 months of making your schedule payments plus they will give you a major credit line increase unlike Capital One

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Sample Size: 97,465
Data Created: February 02, 2015

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Capital One® Secured Mastercard® Reviews

Capital One® Secured Mastercard®