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Capital One® Secured MasterCard®

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Ratings by Category

Application Process
Customer Service
Cardholder Ratings
3.5137 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.

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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.

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Reviews (1096)

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Feb 13, 2016
Great for repairing damaged credit
JMayer621 Cardholder

Applied for this card with a 580 credit score in August of 2015. Got declined constantly for any unsecured cards and always had to pay deposits on everything.

Put a $200 deposit down and then added $100 after (although as of January 2016 you can no longer increase your deposit/limit). Used the card wisely not going over 20% utilization, wrote goodwill letters to past collections and 6 months later of on time payments, I got a $300 increase to a $600 limit. My score in 6 months went up over 50 points and got approved for 2 unsecured cards. This card is the first step to rebuilding or starting new credit. I am very satisfied with this card and the ability to fix your credit.

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Feb 12, 2016
Best Decision I've ever made
phwill1976 Cardholder

Ok. My first time ever posting on here. So I applied Jan 06 with a 487 Equifax score and 515 Transition. I was approved for 200.00 with 99.00 deposit. Taken out checking account, got card couple weeks later. I've kept my usage under 30%. So Feb 04, they reported to credit bureaus. My Equifax jumped 30 points and Transition up 35 points....So, today I decided to apply for another CC...So applied for the Quicksilver Unsecured card because I read the criteria and met it. Well, I was approved for $500.00 limit....only 1 month after getting the secured card and paying on time and keeping balance under 30%. I know everyone situation isn't the same, but though I'd share my experience because credit was shot to hell but I'm moving in the right direction and didn't have to wait 6 months before applying. I did get hit 4 points for inquiry for the new card, but minor thing since I was approved. And best part is that I know they will be increases both cards limits over time with me keeping the same payment and utilization measures. Hope it helps someone. Capital One has great customer service. The mobile app is great too. My experience so far as been great...no exaggerations!

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Feb 13, 2016
te5

Awesome! I applied back in December and I've been nervous about applying for an unsecured CapOne credit card. I was going to wait the 6 months but I guess I will try it. The reviews I read that waited the 6 months or more got approved for a $1000-$2000 credit limit. I think I might wait. Keep up the good work bud!

 
Feb 12, 2016
MY FINGERS ARE CROSSED
sharrelldarg Cardholder

When i applied for the card, my credit karma tu(502) eq(535) i was approved for $200 with $99 deposit. I sent an additional $100 on 12/14/2015 in order to bring my limit to $300.00. My card arrived on January 4 2016. Since then I have used my card and paid it to a zero balance within a week. My first statement has arrived ending 1/21/2016, due on 2/18/2016. I have yet to see a change on my credit karma report, nor do i see where they are reporting it as of yet. I will keep you all updated when my report changes.

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Feb 13, 2016

You should be able to sync your credit card to your credit karma account.

 
Feb 11, 2016
Anonymous Cardholder

Applied for this card with a low score of 540, I had to put $200 as a secure amount. 6-7 months passed and my credit limit was raised by itself to $500!!!!!! This card actually worked and helped me. Give it a try it does work. As long as you pay it on time and keep it under 15% utilization like I did. 

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Feb 11, 2016
Fantastic
Anonymous Cardholder

After the first full monthly cycle of having this card and keeping it under. 30% utilization , my credit jumped up 63 POINTS !!!! I let a balance carry over (25%) of credit limit so it could show usage , and I paid that in full right after it hit. I'm very excited to see what making on time payments will do in the future ! Good luck.  I deposited only $100 for limit of $251

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Feb 11, 2016
Anonymous Cardholder

I have had this card for 2 months and it still does not show up on any of the three CB. I am not in credit steps and use the card multiple times and make multiple payments as well. I sure hope this card reports this month or I will need to close the card. The while idea of getting the secured card is to build credit history.

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Feb 13, 2016
te5

Call them and ask them to start reporting it.

 
Feb 13, 2016

I did they said they have sent the information. It still does not show on any of my credit reports. Don't know what else to do but to close this card...

 
Feb 11, 2016
Great Card
bahjaa Cardholder

I got approved on July 2015 .i deposited $300 that was my credit limit .using the card and paying on time .sometimes I use 90 % of my credit but I make few payment in the same month (I don't advice anyone to max out the card )then i asked for increase couple of times the answer was always no I started to give up on capital one I was planing to change the bank then on January 2016 I woke up with a message that my credit limit is $600 .i was chocked because 2 days earlier I was denied

just don't give up on this card great bank 

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Feb 10, 2016
Great so far

My scores as reported on cresit Karma are terible, 548 and 572. Last Year in October I applied for the Capital One Secured Mastercard and could get one with a $200 minimum deposit. I misplaced the reference number but never followed up one getting it, just paid a few bills. Last week I applied for one again, ready to make the deposit. 

Things have changed. Starting January 2016, you can no longer increase your credit line by making additional deposits, so be prepared to make the initial deposit be appropriate. I don't plan to use the card with a high balance anyway. Capital One said this is because they are rolling out new features to customers.

I got an email today saying I was approved for their new Credit Builder program. The card is on its way to me and is not secured. The initial limit will be $100, which will raise automatically to $500 after five months of on time payments. 

Very cool. I figured I would post this info because I hadn't seen ayone else do it yet.

I will post any helpful updates here in the future.

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Feb 09, 2016
Best to build credit
Anonymous Cardholder

I had a 554 before i applied got approved for 200 w a 100 deposit. I downloaded the app and added my checking account info so i can make payment from the application. Its been one month i used it 4 times and paid 4x on the app week after i used it . My new score is 615 i can't believe it. I use credit karma to get my credit score monthly.

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Feb 09, 2016
Best to build credit
Anonymous Cardholder

I had a 554 before i applied got approved for 200 w a 100 deposit. I downloaded the app and added my checking account info so i can make payment from the application. Its been one month i used it 4 times and paid 4x on the app week after i used it . My new score is 615 i can't believe it. I use credit sesame to get my credit score monthly.

more ...

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

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

† We look 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®