Credit Card Reviews Advertiser Disclosure

Capital One® Secured MasterCard®

Approval Odds
Apply Now
My Saved Cards
Title
Welcome to My Saved Cards
Save and compare credit cards to find the best fit for you. All you need to do is find cards you like and check the Compare This Card box. When you’re ready to review, click the compare button that appears in this menu.
Find Out More

Ratings by Category

Application Process
Customer Service
Cardholder Ratings
3.5 5

Card Details

  • Balance Transfer Intro APR Not Applicable
  • Balance Transfer Regular APR 24.99%* Variable
  • Annual Fee $0
  • Purchase Intro APR Not Applicable
  • Purchase Regular APR 24.99%* Variable

Most Helpful Positive Review

May 05, 2013
Satisfied in an understatment
Anonymous Cardholder

I don't usually leave comments, but I hope this helps someone in need. 10 months ago, I had no idea how credit worked and how important it is to establish it. For some reason, I was consistently denied by various credit card companies, including department stores. I had no hope.

Then I came across this secured card, I remember checking my score and it was estimated to be 550 (yeah, that's crap).

Now its been 10 months, $200 limit, no missed payments; my score is 669 with equifax and 680 with transunion. To top it off, I went to my bank (BofA) and was approved for credit card with a $2500 limit.

I have this secured card to thank for getting me started. I see a lot of people complaining about not being able to get the $200 back. I say, forget the $200 bucks, Capital One can keep it. The credit score increase has been invaluable as it literally jump started me to be able to do what I need in the future.

more ...
 

Most Helpful Negative Review

Aug 10, 2012
Anonymous Cardholder

It's a great card to recover your credit history, but read the fine print, realize that the APR is very high, and don't expect a real credit limit increase. I decided to get this secured card after I defaulted on my student loans before establishing any real credit history. I was finally able to recover my finances and pay off the loans, but the damage was done and no bank was going to look at my history and extend credit. Since I already had a Cap One banking and savings account, it made sense to stick with them for a secured card, given that they have a pretty solid reputation and my accounts would be streamlined. So, made a $300 deposit, got the card, and started using it responsibly. A year later, they increased my limit by $100. Cool!

So, after another year of careful use, I called them to see about another limit increase. No dice. Asked about having my deposit refunded and moving to a regular Cap One MC. Sure, but I would actually have to close the secured card and open a new unsecured card, but it would report as one card. Wait . . . what!? Is that even possible? Can two accounts be "tied" together to report as one card?

In the end, I pulled my scores, decided they were acceptable (despite my limited history), and found out that my student loan default had been changed to report as paid in good standing (guess someone I spoke to at the collection office had a heart!). Took a total shot in the dark and applied for a low APR rewards card with another bank and not only got an instant approval, but a $5000 credit limit!

So, this will get you out of trouble with careful use, but might become a burden later - now I'm stuck with a low limit, high interest card that has tied up $300 of my money, plus a yearly fee. And I don't dare close the account, because it's my oldest card.

I feel that Cap One's claim of a "refundable" deposit may be a but misleading, since many other secured cards will credit back the deposit once an account has remained in good standing for an amount of time.

more ...
 

Reviews (1644)

Add Review
Aug 31, 2016

Don't listen to their average approval score. I was well above the average credit rating the require and offered to place $500 down (with $3,000) still in the bank. Somehow was denied. And worst of all...it dinged my credit and added another inquiry. They say it is a soft pull but that's total bs.

more ...
Aug 30, 2016
They gave me a chance.
Ag99 Cardholder

I applied with a score of 650 got approved for 300. Only one item in collection at the time which was a medical bill! For 100

more ...
Aug 30, 2016

I'm trying to rebuild my credit, so I applied for this card, credit score in low 500's. I paid the $99 deposit, now waiting to receive card in the mail. I will update once I receive and use, and start to make payments.

more ...
Aug 29, 2016
It's working for me.
MikeNeedsHelp Cardholder

**All of the scores to which I'm referring are from CK.
I got this card about 6 months ago. Was approved for $200 with a $99 SD. Applied with a 534TU.  Soon after, maybe a month later, my score jumped to 664TU.  Similar result with EQ.  Recently, and with no alert at all, I recieved a $300 CLI.  Something that didn't surprise me because I had already read about it here.  Also, even though $300 isn't huge, it was a pleasant and welcomed surprise.  I have paid my card off in full every month, and I always keep it at below 10% utl.  Never been late.  I was actually logging on to my CO account because I remembered I had just about reached my 6-month mark, and had intended to request the CLI.

Details that may help you: I don't have any negative things reporting from 2 out of the 3 major bureaus.  EQ reports an old unpaid hospital bill.  No student loans on any reports.  I have 2 secured credit cards.  I got the CO cc first.  While I was applying for the CO cc, I was disputing the 2 or 3 bad things that were on my reports.  They came off with no fuss.  I got lucky.  I did it online.  That's something I have read was bad.  3 & 4 hard pulls reporting at this point more from when I didn't actually realize that applying for CC and other things that pulled your credit could negatively impact your credit.  They'll be mostly gone by the end of this year.  CO customer service is ANNOYING...  They are, presumably, not native English speakers, and they don't actually know the answers to your questions.  I imagine that, when you call with your problem, they look up the key words, and repeat back the automated response that is generated.  It's exhausting trying to get the help for which you called.  Bottom line though, I would recommend this card to people who need to improve their credit.  It has been a tremendous help to me and to my fiancé whom I talked into applying.  He got it.  His scores were lower than mine were, and they are now higher than mine are.

*I am not saying that, "If you have scores similar to or higher than mine were when you apply, you WILL get approved for this card."  I am simply trying to provide you with some information that may help you to make an educated decision.

Cheers!

& May the odds ever be in your favour...?

more ...
Aug 29, 2016
Great Card for rebuilding credit
Anonymous Cardholder

I put a 49$ deposit down for 200$ CL

Here the thing. I took almost a full month for the card to finally come into my hands. I called a few times as, I was concerned that it might be fraud or a scam. However its not. I applied with a credit score of  TU 600, Ex 550, EQ520. My Fico credit score is 563 and my Trans vantage score 3.0 is 581. 

I got the card on 8/27/2016. I am only using this card for food and gas. I plan to only make a purchase of 30$ and then paying it off as soon as it post to my account. Ideally you want to keep your balance at 30% but the magic starts happening at 10% so my target is 10-15%
 

I will update after a full month use and see if my credit score increases. I am really just wanting to be at 620 Fico score and 620 trans Vantage 3.0. After ready what most people have update. I think that this can happen withing the next 3-4 months.

-MS

more ...
Aug 29, 2016
Credit Score Went up 1st month reported
Mcallen3 Cardholder

My credit score didn't jump too dramatically but i'm still happy! Transunion went up 18 points, and Equifax 29 points!

I got approved for this card when credit score was at low 500's.

more ...
Aug 28, 2016
Jdn1014 Cardholder

Jumped my credit score 100 points after it reported the 1st month!

more ...
Aug 28, 2016
Newchances Cardholder

I've had this card since March 1st of 2016. On August 26 was my 6 months anniversary. I've always made my payments b4 the due date and always keeping my utilization below 10%. On August 27 the day after my 6 months n my statement closing I received an increase of 300, also within these 6 months my score has went up 90 points

more ...
Aug 28, 2016
Silvercadillac Cardholder

I am a holder of this card for six months now. I am 20 years old I had zero credit so getting anything else was impossible since I'm not I'm college and I don't have anyone to co sign, so they approve me for a 49$ deposit I put 100 down and they started me with a 251$ limit not alot but it's to build credit so it's cool. So a few days ago I log on to make a payment for next month and notice they increased my credit limit by 300$ so I'm now at 551$ it feels good to be on my way to successful credit health and good to prepare for big purchases in the future !!

more ...

Top Similar Cards

Search All Cards
Add a Review

Add Your Review

Rate this card overall

Please select a rating

I Own It I Had It I Applied

Please state your experience.

What should others know about this card?

Optional

How was application process?

How was customer service?

Statistics

Compare Holders of this Card

Current Balance
Credit Limit Utilized

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

Note: Sample data consists of Credit Karma members who hold this card.
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.

See Your Approval Odds Before You Apply

Sign up for a free membership, and Credit Karma can estimate your chances of approval based on your credit profile. You’ll also get:

  • Credit scores and reports
  • Credit monitoring
  • Personalized recommendations

† 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 and typical low score to the 5th 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 June 2014 through November 2014. 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.

Capital One® Secured MasterCard®