Capital One Secured Mastercard Review

A Lower Deposit to Build Credit

Close-Up Of Credit Cards
••• Richard Theis / EyeEm / Getty Images

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 one of the lowest security deposits offered by any secured credit card.

Capital One Secured Mastercard Details

Ongoing APR 26.99%
Balance Transfer APR 26.99%
Late Payment Fee Up to $39
Security Deposit Required Minimum security deposit amount will be either $49, $99 or $200
This card has no annual fee, sign-up bonus, rewards rate, intro APR, balance transfer fee, 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 no 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 with 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.

Next Steps

To apply for the Capital One Secured Mastercard, go to the Capital One website.

Article Table of Contents Skip to section