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Capital One® Secured MasterCard®

Approval Odds
Card Holder (674 Reviews)
Application Process
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3.7611000537872 5
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Card Details

Balance Transfer Intro APR Not Applicable
Balance Transfer Regular APR 24.9%* Variable
Purchase Intro APR Not Applicable
Purchase Regular APR 24.9%* Variable
Annual Fee $0

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Most Helpful Positive Review

Satisfied in an understatment
Helpful to 6877 out of 7149 people

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.

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Most Helpful Critical Review

Helpful to 2343 out of 2463 people

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.

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Reviews (674)

Great Rebuilder
Helpful to 6 out of 7 people

My husband and I both have this card. We started with a $200 deposit at the end of December on each card. I'm proud to say that today we're both increased to $500... Very unexpected. Thank you Capital One!!!

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TruelyBlessed2015's review was:    

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apply for platinum first
Helpful to 3 out of 5 people

i like the card just disappointed to find out that the platinum capital one approves people with bad scores also. after i recieved the secured i found and old letter that i was already pre approved for the platinum. called capital one and nothing could be done. you can't get an unsecured credit limit increase  with the secured and it never upgrades to unsecured. so now im stuck with 250 secured. 

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businessman1's review was:    

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Good card to rebuild credit
Helpful to 11 out of 13 people

Approved with a 589 transUnion lost my job got hit with 2 late payments. Went back to work kept limit at 15-20% usage I've had the card for 3 years started with a 250.00 limit 2 years later I got a CI to 750.00 current transUnion is 722 no increase  thinking about just getting an unsecured card. Overall this card did what I needed it to do.

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Best card out there for bad credit!
Helpful to 15 out of 22 people

So like many reviewers here, I had very bad credit for various reasons and needed to do damage control (collections accounts, past due payments, etc)... I got the Capital One Secured Card, paid $99 for $300 limit. This was the first card I attempted to get in years (I couldn't even get a basic checking account on my own- used a joint account to pay the deposit). After only 2 months and using the card responsibly, I decided to apply for the Cap One Quicksilver (why not, I already had the hit on my credit) and got approved for a $500 limit on an unsecured card! Whoop whoop! I then applied for 2 cards through Comenity Bank (Victoria's Secret and Marathon) and was approved for both with a $200 on each. Small, but at least I was approved! I use them all responsibly, however I have maxed them all out several times but pay it in full (or at least to 50%) every month. In just 3 months, no joke, my score has gone from 530 Trans Union and 548 Equifax to 560 TU and 578 Equifax. That's a 30 point increase in 3 months!!  I got super excited and applied for many other cards (Discover, another Capital One, Chase) and did NOT get approved. I have 5 hard inquiries on my report now, so I need to wait 2 years for them to drop off and for these cards to help improve my score. I am fortunate enough that I have a husband with good credit, so I am an authorized user on one of his cards and we use that sparingly to help my credit as well. I have looked into many other cards for people with poor credit and Capital One is hands down the ONLY way to go. They are a reputable company and have done well for me, they don't charge outrageous fees and I am extremely happy with them. Not to mention they have a smart phone app where you can make a payment and it posts right away, super handy and there's no waiting & wondering where your money is. I am considering making another deposit just to increase my limit seeing as that will help my score. I will need to keep this card for at least 7 years, so the higher the limit the better and in my opinion it's a small price to pay for being irresponsible. Love love love Capital One! :)

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lovedogs1315's review was:    

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Excellent for rebuilding credit
Helpful to 16 out of 18 people

About 7 months ago I decided I wanted to rebuild my credit so I signed up for credit karma and was recommended the Capital One Secured Card I applied that day and was instantly approved to put down 100 and get a 200 credit limit. I put down 200 and got 300. I wanted extra incase I wanted to rent a car. It took about 2 weeks to get my card which was a little longer than I wanted but no biggie. Instantly when I was issued the card my credit score jumped about 25 points. I use it mostly for gas and as soon as the bill comes out I pay it and it has been increasing my credit every month. Just the other day credit karma recommended me for the Capital One QuickSilver One unsecured credit card. I applied and was instantly approved for a $500 limit. One thing I dont like is it cannot be converted to an unsecured card you have to apply for it. But I recommend not applying for unsecured until credit karma gives you the recommendation just because you may not want the inquires if you done end up being approved or if you apply to soon. This is a great way to rebuild your credit. 

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Great start to your repair journey!
Helpful to 15 out of 16 people

I started out attempting to restore my credit by simply not applying for anything. Needless to say that wasn't helping me at all. Well, I applied for  a secured card and initally had to give a $200 deposit. My starting score was like 515 in the VERY POOR category. However, with ontime payments my score eventually begin to improve. They automatically increased after a few months only $500. It did not indrease after that and according to the FAQs they don't typically allow credit increases on secured cards. However, I was later approved for the Quicksilver with 0 annual fee/no APR intro. One year later my score has climbed to over 680s! This card is definitely worth a try if you are serious about getting your credit back on track. 

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Capital One understands their Customer!
Helpful to 20 out of 21 people

My credit scores were abyssmal in January. I went for a car loan in February and my mid-score was a 560... Needless to say, I never thought I could rebuild until I applied for the Capital One Secured card. 

In less than six months after receiving my Capital One Secured Card, my credit outlook has changed substantially. Capital One just approved me for their Signature Visa with a $5K credit line. I was able to re-fi my 16% interest car loan to 5%. I see the light at the end of the tunnel now and don't feel like I'm at the bottom of a pit with no way out. My scores are now in the 620-680's (I have a bankruptcy and tax lien).

For all those who feel like they can't be helped, trust me when I say you can. Capital One will grow with you. Work hard on cleaning your report, pay your bills on time and spend wisely.

I want to thank Capital One for taking a chance when others would not. I will be a Capital One customer for life.

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Highly recommend it!!!
Helpful to 12 out of 13 people

Back in september 2014 applies for capital one credit card. Wasn't approved :(. I had no idea whats my credit score was and how it works. A month later got message from Capital One offering  this secured credit card. Deposit of $100 was required. And I  got approved for another $100, Totaling $200. Not a lot but hey, if you looking to get your credit  score up, start from small. So I paid on time, along with other bills. Now, 9 month later, my score is flactuating 650 - 690, but have that Chase freedom card, which is kinda hard to get approved for. Basically I'm very glad I started from this card.

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Stillimroving's review was:    

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Great Credit Rebuilder
Helpful to 17 out of 17 people

I always regret attending a trade school back in 2006 which lead me to my years of bad credit because of the school loan. I also had missed payments on a few credit cards a couple of other loan companies. Over the years, I had tried to apply for a credit card to try to get back on track, but was declined after one another. I did some reading online and came across good reviews for this card. I have also continuously kept getting pre approved mail offers for a Capital One Credit Card, so I finally decided to apply for the Secured Mastercard and was approved. I deposited $49 and received $300. I have been using this card for just 3 months. My score on the credit tracker was at 569 and now it has risen to 603. I noticed people have been complaining that this card does not graduate you to an unsecure credit card or other credit line increases, but what do you expect? This card is only meant for credit rebuilding. My credit karma scores says I have a 683, but I don't fully trust it since I have read a lot of complaints about that site being unaccurate, but I still use it as a reference to keep track of any changes in the score. I have been making multiple payments on time. Will wait to see by September 2015 to see if I will get any credit line increase. I am very happy that my credit score is rising.

Once my credit tracker shows my score to be in the mid 600s, I will try to apply for a Capital One Journey & a Discover. I never thought I would be able to repair my credit again. I realize how important it is to have good credit because you will need it in the future when financing a home or a car.

Thank you Capital One for giving chances when nobody else would. Better late than never!

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The Capital One Journey card is pretty easy to get approved for (it says it's a student card but, you don't have to be a full time student). I would be hesitant to apply for Discover as their standards are usually high and they'll decline you if you have baddies on your credit report. You might want to consider the Capital One Quicksilver One MC or the Barclaycard Rewards MC.

hulkamaniac69's reply was:    

love this card
Helpful to 18 out of 19 people

i owe everything to this card and Capital One

Aug 2014 i started rebuilding ,score in the 400 s!!!! 10 collections 12k 

7 fell off my report ( 7 years) and i paid off 3 ,but not only paid ,made sure they REMOVED them ,not just CLOSED

I got this card with $ 200 deposit , and used more than 50% every months, but almost p[aid off every month.

After the 5 payments, they automatically increased me to $500 without me asking.

now i have anoither unsecured Capital one platinum mastercard 1500 , just got an increase today 500- to 1500 after just 3 payments( i requested the CLI) and got approved last week for an AMEX prefferd card :)

EQ 653, TU 683 EXP 693 

So ,thank you Capital One , and please take this card ,is really helping ,and don't complain about high rate!!!!! as many people do around here.

Just think of it as an investment!!!

It is!!!

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rebuildingrebuilding's review was:    

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

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Company Overview

Capital One offers numerous credit cards to fit consumers’ needs, including rewards cards, competitive rate cards, student cards, secured cards, and several co-branded cards. Capital One's Card Finder Tool also helps consumers determine which card is the right fit, with a quick online form to determine the best card offers according to each consumer's spending needs and finances, with results in about 60 seconds. Headquartered in Virginia, credit cards are issued by Capital One Bank and available in branch and online. Capital One serves banking customers in branches located primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. Credit cards are available online to all customers nationwide.

Capital One, founded in 1988, is a Fortune 500 company and is a diversified financial services company, offering an array of credit, savings, and loan products for consumer, small business, and commercial clients.

† Credit Karma estimates your Approval Odds by comparing your credit profile with data about other members who were approved for this product. Though Approval Odds do not guarantee approval, they can show you which products may be a better fit for you.

‡ 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.

Approval Odds

Capital One® Secured MasterCard®

674 Reviews
Balance Transfer Purchase Intro APR Regular APR