menu-nav menu-nav

Capital One Secured MasterCard
Consumer Reviews, Credit Score and Income Needed, Credit Limits

Picture of Capital One® Secured Mastercard®
28 Reviews
Consumer Rating:
star ratingstar ratingstar ratingstar ratingno star rating

Apply Here apply here 4.2
Lowest:
400
Average Score:
539
Highest:
759

Key Features
Key Features

Annual Fee: $0
APR : 24.99%*V
Initial Deposit: $49, $99 or $200 for a $200 limit.
Credit Limit Increase without additional deposit: Review after 5 months
Reports as: Unsecured
Graduates to unsecured: Yes
Pros and Cons
Pros and Cons
Pros

  • No annual fee
  • Can deposit less than initial credit limit
  • Credit limit increase possible after 5 months with no additional deposit
  • Reports as unsecured
  • possible to graduate to an unsecured card

Cons

  • No Rewards (nitpicking here)

Our Take
Our Take

This is one of the best secured credit cards out there. The unique feature of this card is that you may only be required to put down a portion of the initial credit limit of $200 (making it a partially secured credit card). You are also eligible for a credit line increase without having to put up additional deposits after 5 months (we know of no other card that has this feature). They are also one of the rare secured cards that report as unsecured. The only thing we could nitpick is that they do not have a reward program!

All
5 Star
64%
4 Star
14%
3 Star
7%
2 Star
7%
1 Star
7%
1 Star 2 Star 3 Star 4 Star 5 Star
Sort By


 
Credit Score: 560 Credit Limit: 300 Age: 25-34
Posted 06/09 2017
Overall Rating: star ratingstar ratingstar ratingstar ratingno star rating
Capital One has been wonderful to me. I have never gotten into debt and always pay cash. But since my plan is to eventually buy a house, I knew I had to build up a credit history. After lots of research, I decided to apply for this card. The main reasons are that there is no annual fee, reports as unsecured, gives credit limit increases and even graduates. I started off with a $300 limit (had to deposit $300). I made sure my utilization was low and after 6 months (on my 6th statement), I saw that my limit was now $600. 9 months later, my score had gone up from 560 to 660. I got a pre-approved mail on their quicksilver with a $500 limit and an automatic increase after 5 months. I applied and was approved. I have also recently been approved for Discover it with a $4000 limit.
 
Credit Score: 480 Credit Limit: 300 Age: 35-44
Approved 6 months after Bankruptcy
Income On Application: $55000
Posted 04/21 2017
Overall Rating: star ratingstar ratingstar ratingstar ratingno star rating
I applied for the Capital One secured card six months after by BK discharge. Score was about 480. I got approved to $200 limit with $99 deposit. I deposited $199 instead to get a $300 limit. One of the cool things about Cap One is their app. It is really handy because you can track all your transactions, pay your bills and track your credit score. I took the advice of many folks here and simply charge a small amount every month and pay it off in full every month. On my 8th statement, I noticed that my limit has been upped to $600. A year later, I received a notification in the app that I was being upgraded to an unsecured card and my $199 would be credited against the account. A few months later, I got another CLI to $2000. Thanks CapOne for helping me rehab my credit. And BTW - my score is now 650.
 
Credit Score: 570 Credit Limit: 200 Age: 25-34
Posted 03/06 2017
Overall Rating: star ratingstar ratingstar ratingstar ratingno star rating
When I graduated from college, I got a very good job and carried a few credit cards. Life was good but my credit card debt kept going up. Then I lost my job and everything just went out of control. I had so many collections and settled some. Most are on the way to being dropped off from my credit report. I checked my score and was relieved that it was 570 (thought it was going to be in the 400s!). Anyway, I applied for this card and Cap One approved me. I had to put up a $200 deposit for a $200 credit line. After 7 months, I got a credit increase of $300 and the limit is now $500. My scores also improved to 660 (though I suspect this was helped my more negatives dropping off from my report).

My experience with the card has been good. Use the app all the time to check on the account also to pay the bill. If you are looking to rebuild, I would highly recommend Cap One.
 
Credit Score: 570 Credit Limit: 1000 Age: 25-34
Posted 05/09 2015
Overall Rating: star ratingstar ratingstar ratingstar ratingno star rating
I put down a $500 deposit and got a $1000 credit limit. Approval was easy and card arrived within a few days. After using for 6 months, I got a pre-approve mail from Cap One for their QuickSilver. I applied and was approved. This is the first unsecured credit card I have had in 3 years. My credit score also went from 570 to 680.

The app is also great. You can check your balance, pay with it and check your credit score. In fact, it is so good that I have not called customer service at all.