Capital One® Secured Mastercard® Review

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Our Detailed Review of This Card

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The Capital One® Secured Mastercard® is a secured credit card, a good choice for individuals who have no or limited credit history, or have past or current credit issues. We really like this card because it reports your payment history to all 3 credit bureaus, so you can build and improve your credit by paying your card on time each month. Whether you choose to pay the minimum payment on your balance, or pay your card in full each month in order to avoid finance charges, the positive financial action will assist in boosting your credit. Another big plus is the fact that no one will know that this is a secured card, including the credit bureaus. It looks and works just like a regular credit card. The icing on the cake is that there is no annual fee — a relative rarity for secured credit cards and a very nice perk indeed.

Secured Credit Card

  • Guaranteed by your funds, which act as a “security deposit” in case you default on the loan extended by the credit card company.
  • Security deposit will be refunded in full if your account is up-to-date and paid on time when you close out your card.
  • Looks and works like any other credit card, so it won’t be apparent to others that this is a secured card.
  • You fund the card by depositing $49, $99, or $200 into a FDIC-insured account.

Helps Credit History

  • Helps boost your credit history by reporting to all three credit bureaus every month so you can establish or rebuild your credit.
  • Looks like any other credit card on the credit reports – there is no indication that you have a secured card.
  • If you make your payments on time, you can help improve your credit score with good payment behavior.

Fees and APR

  • Annual Fee: $0.
  • Foreign Transaction Fees: None.
  • Purchase APR: 26.99% (Variable).
  • Balance Transfer APR: 26.99% (Variable).
  • Balance Transfer Fee: $0.
  • Terms and Conditions
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Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.