Capital One Platinum Secured Credit Card
- Annual fee
- None
- Recommended credit
- Poor / No Credit Required
- Card network
- Mastercard
- Regular purchase APR
- 30.49% variable based on the Prime Rate
At a glance
The Capital One Platinum Secured Credit Card is a useful tool for building credit, so long as you make the required, refundable security deposit and follow through with the responsible behavior that credit bureaus tend to look for. You can also gain access to a higher credit line after making your first 5 monthly payments on time, sans any further security deposits. Of course, you can always deposit more money on top of that to further boost your credit line.
Our review of the Capital One Platinum Secured Credit Card
If you’re looking to build your credit score from scratch, the Capital One Platinum Secured Credit Card is a great option. With a refundable deposit as low as $49, $99, or $200, based on your creditworthiness, you can start with a $200 credit line that can increase in just five months if you make your first 5 payments on time.
Comparing No Annual Fee Secured Cards
| Card | Annual Fee | Deposit Required | Credit Limit Increases | Credit Reporting |
|---|---|---|---|---|
| OpenSky® Plus Secured Visa® | $0 | $300 to $3,000 | Yes, in as little as 6 months | Experian, Equifax, TransUnion |
| Capital One Platinum Secured | $0 | $49, $99 or $200 | Yes, in as little as 6 months | Experian, Equifax, TransUnion |
| Citi® Secured Mastercard® | $0 | $200 to $2,500 | Yes | Experian, Equifax, TransUnion |
Access to a Higher Credit Line
One of the standout features of the Capital One Platinum Secured Credit Card is the opportunity for a higher credit limit. This card provides a clear path for those with bad credit to improve their credit score and eventually move on to an unsecured card.
Other Card Features
In addition to a higher credit line, this card offers no foreign transaction fee, no balance transfer fee, and no annual fee. You can also take advantage of price protection benefits and 24/7 online account management via their mobile app.
Should You Apply for the Capital One Platinum Secured Credit Card?
While not the most flashy option, the Capital One Platinum Secured Credit Card is a solid choice for building credit. With straightforward terms and features, it’s a popular option among secured cards from major issuers.
If you’re looking to build your credit with a secured card, the Capital One Platinum Secured Credit Card is a reliable choice to consider.
Card features
Benefits as listed on the original card page. They can change; confirm details with the issuer.
- 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 wo'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
Who this card may suit
- You want to quickly build your credit using a secured card
- You do not want to pay annual fees or foreign transaction fees
- You want a Capital One card accepted at millions of locations worldwide
Rates, fees and terms
| Annual Fee | None |
|---|---|
| Regular Purchase APR | 30.49% variable based on the Prime Rate |
| Balance Transfer APR | 30.49% variable based on the Prime Rate |
| Balance Transfer Transaction Fee | 3% of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you. None for balances transferred at the Transfer APR. |
| Cash Advance APR | 30.49% variable based on the Prime Rate |
| Cash Advance Transaction Fee | 3% of the amount of the cash advance, but not less than $3 |
| Late Payment Penalty Fee | Up to $40 |
| Minimum Deposit Required | $49, $99, or $200 based on your creditworthiness |
Confirm before you apply: rates, fees and offers change often. The figures above are the ones listed on the original card page, not a current quote from the issuer. APRs are typically variable, and the rate you receive depends on your creditworthiness. Recommended credit: Poor Credit Limited or No Credit.
Apply Now for Capital One Platinum Secured Credit Card (opens in a new tab)View issuer terms for Capital One Platinum Secured Credit Card (opens in a new tab)
Capital One Platinum Secured Credit Card
Apply Now for Capital One Platinum Secured Credit Card (opens in a new tab)You will leave this site for the issuer’s page. Confirm current terms there.
Similar cards
OpenSky® Plus Secured Visa®
- New feature! Earn up to 10% cash back on everyday purchases
- No credit check to apply. Find out instantly if you are approved- Zero credit risk to apply
- Annual fee
- $0
- Recommended credit
- Fair / Poor / No Credit Required
- Purchase APR
- 29.49% (Variable)
First Progress Platinum Select Mastercard® Secured Credit Card
- Get a First Progress Platinum Select Card and Earn 1% Cash Back Rewards!
- Secure your credit line with your refundable security deposit – choose from $200- $2,000 - with the ability to increase…
- Annual fee
- $39
- Recommended credit
- Poor / No Credit Required
- Purchase APR
- 18.74% variable based on the Prime Rate
Current Build Card
- Build credit with no minimum deposits and no annual fee
- Up to 4% APY on savings
- Annual fee
- $0.00
- Recommended credit
- Good / Poor / Fair
- Purchase APR
- 0.00%