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 (1625)

Add Review
Aug 24, 2016
Cocoalicious Cardholder

I was approved with a $49 deposit. My current TU score is 566, which is the report they pulled. Will you keep you posted over the next few months.

more ...
Aug 23, 2016
Drummy99 Cardholder

Got this card 7 months ago fico score was 540 now fico is 615 and climbing
Credit limit was $200 have me an increase to $500 last week no additional deposit required. Heading in the right direction, great credit here I come. Also have 2 high interest credit cards I only charge gas with and pay in full monthly.

more ...
Aug 23, 2016
Great for rebuilding credit!
rroman86 Cardholder

Application process was easy and quick! They asked me for $49 down payment and was given a $300 credit limit. The capital one app is amazing! You can check your balance, pending transactions, payments etc at anytime. The app also lets you link you checking acct to your card allowing you to make payments with just a swipe of your finger. Most payment clear on the same day unless you pay on the weekend then it clears on Monday. Card doesn't offer and "benefits" but after 5 on time payments they raise your limit to $500. 

more ...
Aug 23, 2016
Credit Score Up in One Month
MogulRaven Cardholder

I received my card in July, 2016 and made my first payment Aug 7, 2016. My credit score is already  up 114 points!!! I am well on my way to credit repair. I will keep you updated as time progresses.

more ...
Aug 24, 2016

how long after did it show up on your credit report? I received mine in July and just made my first "official" payment before my due date August 19th.

 
Aug 24, 2016

it hasn't shown up on my credit report yet.

 
Aug 24, 2016

I just got this card and my first payment isn't due until September 18th, was curious how long it took to start showing up on reports as well

 
Aug 23, 2016
Does what it promises.
thepartycrasher Cardholder

I have this card and have never had an issue. Applying was easy as I was pre-approved and my card arrived quickly. I use their apps to keep on top of my alerts and have not gone over my limit. They even waived the late fee when I was out of work and caught a fraudulent transaction proactively. Their customer service always makes me feel valued when I call. For a secured card, this is hands down the best one offered!

more ...
Aug 23, 2016
It Does what it's designed to do
CreditMama2016 Cardholder

Update! After 6 months of on time payments and less than 10% utilization reporting every month, I received an automatic $300 CLI. I applied for the platinum card after having this one for 4 months and was approved for a $500CL. So I went from $200 to $1000 overall credit lines in 6 months. My starting score was low 500s across the board with about 19 collection accounts. Now my highest score is 600 (FICO). I can't wait to keep rebuilding thanks to cap 1.

more ...
Aug 22, 2016
Not approved
Anonymous

Credit score of 588. Just had a BK discharged a month ago.  Denied this secured card.

more ...
Aug 22, 2016
Nice starter card.
PedroJudith Cardholder

After a long stretch of time with no credit history, I was unable to qualify for any "real" cards. I was thankful that Capitol One gave me a shot with this card. AutoPay is simple to use, and with 6 months use of this card, my credit score seems to be climbing rather quickly with on-time payments and low-utilization (and limit was raised from $200 to $500 pretty quickly). Given that it's no-annual, it's really a no-brainer for anyone trying to build/rebuild credit. Having a chance to get the inital $200 limit with only a $49 deposit is also a nice plus. 

The Capital One secured card seems to be about the best out there (along with the Discover secured). With those two not having annual fees, I can't see any reason to get a secured card with an annual fee. For a lot of people, it'll make sense to keep their secured card for a very long time for the history, so it would stink to be in a situation where you are paying annually to keep that account open.

more ...
Aug 22, 2016

Credit karma said I had good odds for getting approved,  however I did not o got denied. Really wish I hadn't applied and gotten an inquiry on my credit now. When I applied I had a credit score of 498 and 501

more ...
Aug 22, 2016

I applied for this credit card since I have no credit score because I have no credit. They denied me on a secured credit card even though its my $200 I would be giving then as a deposit. I don't recommend this card or company.

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®