Capital One requires a refundable security deposit based on your creditworthiness. In addition, if you can’t pay your security deposit upfront, Capital One will let you pay it in installments. Just make sure to provide the full amount within 80 days of your approval. For those who need flexibility on a fixed income, this is a great benefit.
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Capital One Secured Mastercard Summary
Earning & Redeeming Rewards
Unfortunately, you can’t earn points or cash back with the Secured Mastercard from Capital One. That means there are also no rewards for using this card.
Instead, its main function is to help users with poor credit a chance to build a solid credit history over time, improving their credit scores.
Capital One Secured Mastercard Cardholder Perks
Although the Capital One® Secured Mastercard® is pretty bare-bone, that’s not to say you won’t get perks included with your card. Enjoy 24-hour travel assistance services, travel accident insurance, roadside assistance, auto rental collision damage waiver, extended warranty, and more. Here are the highlights:
Flexible Security Deposit: All secured credit cards require a security deposit which sets your credit limit. Unlike most secured cards, the Capital One Secured Mastercard may allow you to deposit a smaller amount, depending on your creditworthiness. Your deposit may be $49, $99 or $200 for a starter credit line of $200. For a higher limit (up to $3,000), make a bigger deposit before you activate your account. If you can’t pay your deposit all at once, Capital One allows you to pay in installments. Just pay the full amount by a due date after being approved. your deposit will be placed in an interest-bearing, secured, savings account. When you close your account, you’ll receive a deposit refund plus interest.
Credit Line Increase: Credit cards designed for people with poor credit often come with low limits. With the Capital One Secured Mastercard, you can be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed. Most cards will make you wait an average of 12 months before you can request an increased limit.
The Capital One® Secured Mastercard® is great for those seeking to rebuild credit. Though it doesn’t offer any welcome bonuses, rewards or value-added perks, it’s still an excellent option if you need to build your credit with its low minimum security deposit and very few fees.
Take control and rebuild your credit with responsible use. Sign up today if this could benefit you. Otherwise, find out which card is fit for you by checking out our complete list of credit card promotions and other Capital One credit cards today!
Learn more about this card and find out how you can apply here.
The Best Bank Offers are updated here. See the below pages to get started with some of the best offers:
• Chase Bank Offers. Chase offers a range of attractive Checking, Savings and Business Accounts. Chase has a great selection of sign-up bonuses in comparison to other big banks.
• HSBC Bank Offers. HSBC Bank routinely has offers for several of their Personal Checking and Business Checking accounts. They also have a good referral program.
• Huntington Bank Offers. Huntington Bank has high bonus amounts available through their Checking and Business Checking. Huntington also offers a Business Premier Money Market Account.
• Discover Bank Offers. Discover Bank offers top cashback, savings, money market accounts and CD rates for you to take advantage of. Discover has industry leading selections to cater to your banking needs.
• TD Bank Offers. TD Bank consistently offers a fantastic selection of checking accounts to cater to your banking needs. However, savings account offers are less frequently available.
|Chase Business Checking||$300 Cash||Review|
|Chase Total Checking®||$200 Cash||Review|
|Chase SavingsSM||$150 Cash||Review|
|Chase Private Client||$2,000 Cash||Review|
|HSBC Premier Checking Member FDIC||$450 Cash||Review|
|HSBC Premier Checking Member FDIC||Up To $600||Review|
|HSBC Advance Checking Member FDIC||$200 Cash||Review|
|HSBC Advance Checking Member FDIC||Up To $240||Review|
|TD Bank Beyond Checking||$300 Cash||Review|
|TD Bank Convenience CheckingSM||$150 Cash||Review|
|Huntington 25 Checking||$500 Cash||Review|
|Huntington 5 Checking||$200 Cash||Review|
|Huntington Asterisk-Free Checking®||$150 Cash||Review|
|Huntington Bank Unlimited Plus Business Checking||$750 Cash||Review|
|Huntington Bank Unlimited Business Checking||$400 Cash||Review|
|Huntington Bank Business Checking 100||$200 Cash||Review|
|Axos Bank Basic Business Checking||$100 Cash||Review|
|Ally Invest||Up to $3,500 Cash||Review|