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Capital One® Secured MasterCard®

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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.

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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 (1533)

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Jul 27, 2016
Anonymous Cardholder

Almost every month my score jumps up, I keep the limit low and pay balance off before it's even due.

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Jul 26, 2016
lcampbell21 Cardholder

I applied for this card back in April of 2016 I believe. They give you 90 days to make your deposit so I made sure my deposit within the time frame. My deposit was $99 but I sent in $110 so my credit limit was set at $210. I had a capital one credit card years back in Highschool that was charged off so I was more than sure that they would decline my application for their secured card but to my surprise they didn't. My original scores prior to applying for the card were very low 500's. After I got the card my score dropped over 50 points because I was late on a student loan payment. I began using the card in June and my bill isn't due until August 19th . This will be my first bill but I've already made 4 payments on my account already. I checked my credit score yesterday and it went up 66 points!! Them today another 12, and last week it went up 48 points!! I'm so excited! I'm trying to be in the high 600's by October . Seeing my score increase so drastically so quickly, I know that it's possible! I'll keep you guys updated. 

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Jul 26, 2016

After you got the email that it was shipped how long did it take to receive the card?

 
Jul 27, 2016

When u say u made 4 payments already do u make a purchase and pay it off right away

 
Jul 26, 2016
Anonymous

Do not use capital one at all...scam...they just turn you down.if your credit score is low they wont give you a card. Get out if this. Capital one!!!!!!.

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Jul 26, 2016
Outstanding
Danidoll23 Cardholder

This card has really helped me. They actually sent me a pre-approval in the mail and it stated I did not have to put a deposit down. The credit limit was only $100 initially. I only used it for gas purchases since the limit was so low I didn't want to run the balance high. I paid my bill off every month (even though you are only required to make a minumum payment). I contacted them today, and I just made my 5th payment in full, and my credit limit will be increasing my next billing cycle to $500. This is my first credit card, and I really love they provided me an opportunity to establish good credit. I encourage you to apply, you will not be disappointed!!!

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Jul 26, 2016

Hi, question did they tell you that over the phone. I was declined credit increase because secure cards don't offer them upon request? How does that work then? I've had all my past 5 months on time I'm calling tomorrow morning to ask.

 
Jul 26, 2016
Garbage

Don't bother applying why would they even put it for people that are trying to rebuild the credit and you don't approve pice of shi$ should be taken off credit karma 

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Jul 24, 2016
STAY AWAY!!
babygirl31 Cardholder

I had this card for six months payings fees on top of fees. After some time I got a email saying that they closed my account do to (me) logging in and checking my account to much. REALLY?? Now I can't even use the card and they are still charging fees after fees until I pay it back... This card will hurt your credit more than help it. If you don't listen to this review I wanna say one thing six months down the run to you...I told you so!

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Jul 24, 2016

Only fee with CapOne comes to mind is the annual fee, they even stop with the annual fee, if you apply it after July/Augest of 2015. I want to listen to your review, however I am not understanding exactly what fees you are referring to. It's little bit difficult for me to grasp they would close your account only because you check your account frequently.

 
Jul 25, 2016

This review sounds bogus. I've had this card for 6 mos now, and the only fees I can think of are the interest fees. If you were paying your bill on time each month, then you would have had no problems with the account. No need to post a negative review when it's you who doesn't know how to maintain a credit card.

 
Jul 26, 2016

The only fee you could be speaking of is APR, which is when you do not pay your balance off in full. I get charged no fees on my card.

 
Jul 26, 2016

This card has been nothing but a blessing to me. I paid the entire 200$ deposit but I say keep it! This card opened so many doors for me because I used the heck out of it (that's just me) but I also paid in full every month and never a penny of any sort of fee! So what exactly did you do? Oh not to mention that I checked my account several times a day in the first few months. I've got the app on my phone and I use it quite frequently. This card is awesome! I know people that have over 1000 cl from this secured card from just there increases alone! Be wise and you will be just fine!

 
Jul 26, 2016

Check your grammar

 
Jul 24, 2016
Credit Refreshing!
kalisad Cardholder

I applied for this 1 wk before I was discharged from bankrupcty. My score was TU 566 and EQ 542.   I applied July 6, 2016 and my deposit of $49 was taken from my account on July 7, 2016. My score went down (as expected -1point TU and -2point for EQ). I got an email onJulu 20th saying that my card was being mailed, and July 22, 2016 I actually got my card. I can't wait to raise my credit score and practice my newly learned skills and learn from the mistakes from the past. I've activated my card and I've found out my billing cycle and due date. Right now, this card will be used for gas and grocoeries-simple.  My goal is to be in the high 600's by this time next year. Thank you Capital One!

As soon as I have updates I will report them!!

more ...
Jul 23, 2016
Great secured Card.
ImBigQ Cardholder

I applied for this card got approved for a 99 dollar deposit for a 200 dollar avaliable credit. After 5 months they gave me an increase to 500 dollars. I really like this card and would recommend to anyone. It's a nice gateway to other cards.

more ...
Jul 26, 2016

Did they increase it automatically?

 

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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.

† 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®