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Capital One Platinum Secured Credit Card
Reviews
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CompareCards says issuers are providing such generous deals, they're virtually irresistible for those willing to switch.
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Those who always pay their balances in full and on time will usually come out ahead.
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The offers on the credit card landscape are constantly changing which is great news for consumers.
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In the future, the companies that will thrive are those able to give customers exactly what they want, the way they want it, when they want it.
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CompareCards was one of three sites that met all the criteria.
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- Regular Purchase APR 29.99% (Variable)
- Intro Purchase APR N/A
- Intro BT APR N/A
- Annual Fee $0
- Credit Needed Limited / Poor
- Card Brand Mastercard®
- Regular Purchase APR 29.99% (Variable)
- Intro Purchase APR N/A
- Intro BT APR N/A
- Annual Fee $0
- Credit Needed Limited / Poor
- Card Brand Mastercard®
Highlights
- No annual or hidden fees. See if you're approved in seconds
- Building your credit? Using the Capital One Platinum Secured card responsibly could help
- Put down a refundable security deposit starting at $49 to get a $200 initial credit line
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- Get access to your account 24 hours a day, 7 days a week with online banking to access your account from your desktop or smartphone, with Capital One's mobile app
- For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
Card Fees
Foreign Transaction Fee
None
Balance Transfer Fee
Balance Transfer Fee applies to balances transferred at a promotional rate
Penalty APR
None
Ongoing Information
Rewards Rate
Non-rewards Card
Annual Fee
$0
Expert Reviews
From the CompareCards.com Editorial Team, updated on Dec 12, 2024
This card is meant for those who have bad credit and want a card that helps them rebuild it, while also delivering the convenience of carrying plastic instead of cash. The refundable security deposit starts at $49 to get a $200 initial credit line. You can make partial payments but need to make sure you've made your full, required deposit within 35 days of being approved.
The interest rate on this card is 29.99% (Variable) and there is now no annual membership fee. For people with damaged credit though, those rates are a small price to pay for the chance to rebuild your credit. The Capital One Platinum Secured Credit Card also reports to the “big three” major credit bureaus on a regular basis. So, if you are paying your bills on time and not using more than 25% of your available credit – two strategies recommended by credit improvement experts – then that will help you in your credit building efforts.
Expert Reviews of the Capital One Platinum Secured Credit Card
The Bottom Line
This card now comes with no annual fee, making it one of the few secured cards without it. Capital One Platinum Secured Credit Card is a nice alternative for someone with poor credit who wants a chance to rebuild their credit.
The Good
With this card, you can sign up for free enrollment in online tools to help you track your credit score. You can also earn opportunities for a credit line increase based on your payment history and credit worthiness.
The Not so Good
The APR is 29.99% (Variable). You also have to put forth a security deposit in order to get this card.
Editorial Note: This content is not provided by Capital One. Any opinions, analyses, reviews, or recommendations expressed on this page are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by Capital One.
Consumer Reviews
OFFER RATING
/5.0
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- Rewards Rate 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply)
- Credit Line Put down a refundable $200 security deposit to get a $200 initial credit line.
- Regular Purchase APR 29.99% (Variable)
- Annual Fee $0
- Credit Needed Limited / Poor
- Card Brand Mastercard®
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Highlights
- No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
- Put down a refundable $200 security deposit to get a $200 initial credit line
- Building your credit? Using a card like this responsibly could help
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
See additional details for Capital One Quicksilver Secured Cash Rewards Credit Card
- Rewards Rate 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically
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- Credit Needed Limited / Poor
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- Credit Needed Limited / Poor
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Highlights
- No credit score required to apply. No Annual Fee.
- Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
- Raise your credit score by 30+ points.
- Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
- Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
- Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
- Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
- Terms and conditions apply.
See additional details for Discover it® Secured Credit Card
