Capital One Secured MasterCard Review

A Lower Deposit to Build Credit

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If you're looking for a secured credit card to build your credit, you might find that the Capital One Secured MasterCard one of the better secured credit cards on the market. Depending on your credit, you could pay the lowest security deposit offered by any secured credit card.

Capital One Secured MasterCard Details

Ongoing APR 26.99%
Late Payment Fee Up to $39
This card has no annual fee, sign-up bonus, rewards rate, intro APR, balance transfer, foreign transaction fee, or recommended credit score

Pros & Cons of Capital One Secured MasterCard

What We Like

  • No annual fee

  • As little as $49 deposit for $200 limit, if your credit qualifies

What We Don't Like

  • High APR

  • No perks

Capital One Secured MasterCard Sign-up Bonus

This card has not sign-up bonus.

Earning Points & Rewards

This card has no points or rewards.

The Capital One Secured MasterCard is for people trying to build or rebuild their credit. This card is unique in that, if your credit is sufficient, you can get a $200 credit limit was as small a deposit as $49.

Capital One Secured MasterCard Additional Fees

Cash Advance APR 26.99%
Cash Advance Fee Either $10 or 3% of the amount of each cash advance
This card has no penalty APR, returned payment fee, or overlimit fee

Is This Card Right For You?

The Capital One Secured MasterCard doesn't pay any rewards on purchases, unlike the Discover It Secured Card, but that doesn't mean it's any less attractive.

Perhaps the best feature of the Capital One Secured MasterCard is the security deposit. With most secured credit cards, your credit limit is equal to your security deposit. Here's where the Capital One Secured MasterCard shines. If you qualify based on your creditworthiness, you can pay a lower security deposit of $49 or $99, and still get a $200 credit limit.

And even if you don't qualify for one of the lower security deposits, you can make a minimum security deposit of $200 to get the credit card. You can pay a higher security deposit if you prefer. Capital One allows you to make a security deposit of up to $3,000, but you must make the deposit before your account opens.

Once you're approved, you can use the credit card to start rebuilding your credit history.

If you make your first five payments on time, Capital One says it will give you an automatic credit limit increase, and you won't have to pay an additional security deposit to get it.

Next Steps

To apply for the Capital One Secured MasterCard, go to the .

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