Capital One Secured Credit Card

Capital One Secured Credit Card Reviews

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About Capital One Secured Credit Card

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Capital One Secured credit cards are best for rebuilding credit after a few financial missteps. Depending on your credit history, you could qualify for a partially secured credit card — Capital One Secured credit lines start at $200, but minimum security deposits can be as low as $49 for some applicants. If approved, you can choose your payment due date to be at the beginning, middle or end of the month, and select your preferred payment method.

Pros & Cons

Pros
  • Flexible payments
  • Refundable deposits
  • No annual fee
  • Automatic credit review
Cons
  • Longer approval process
  • No rewards

Capital One Secured Credit Card review

The Capital One Secured credit card can be an excellent credit-building tool if you pay the balance in full each month. Like most secured cards, Capital One Secured doesn’t earn rewards and the APR is relatively high, but cardmembers can qualify for an unsecured card with just five months of timely payments. Depending on your credit history, you could even be eligible for a partially secured credit card from the start.

How does Capital One Secured credit card work?

A Capital One Secured credit card works like any other Capital One card, except that it requires a refundable security deposit for collateral. A security deposit of $49, $99 or $200 is required for an initial credit limit of $200, meaning that some applicants qualify for a partially secured card.

Capital One reports cardholders credit standing to all three major credit bureaus. Good credit standing is earned making payments in full each month and on time. However, be aware that missing or late payments will damage your credit score further.

Capital One makes it easier to make timely payments with benefits like free account alerts and flexible payment schedules and methods. After five months of good credit standing, you could get a Capital One Secured card credit limit increase without making additional deposits. To get your Capital One Secured credit card deposit refund, you must close the account and pay your balance in full.

Capital One Secured credit card benefits

A secured Capital One card comes with many of the same account management, security, travel and retail benefits, plus apps and digital services that come standard on other Capital One credit cards. 

  • Account management: Get account alerts and the option to enroll in auto pay and keep track of monthly recurring transactions. Capital One Secured cardmembers can also add an authorized user to their account and track their spending.
  • Security: Using a virtual number to pay for online purchases helps keep your actual Capital One Secured card number safe. SureSwipe/Touch ID makes it easy and safe to sign in to your account with a fingerprint or customized pattern. If your card is ever lost or stolen, Card Lock is available to freeze your account through the Capital One mobile app instantly. Plus, cardholders aren’t held responsible for fraudulent charges.
  • Apps and digital services: CreditWise from Capital One lets you monitor your credit to see how it improves over time and gives you access to free financial education resources. The Capital One mobile app also gives you access to Eno, the intelligent assistant from Capital One.
  • Travel and retail: Enjoy the benefits of 24-hour travel assistance services, auto rental collision damage waivers and travel accident insurance and extended warranty protection for items purchased with a Capital One Secured credit card at no extra charge.

Capital One Secured credit card rates and fees

Like most secured credit cards, Capital One Secured has a high variable APR interest rate. In general, your APR won’t increase if you are late on payments, but APR could increase based on market conditions. Cardmembers can avoid paying interest by paying their balance in full each month. It’s possible to take out a cash advance with a Capital One secured card, but not advised. Capital One Secured credit card cash advance fees and rates are high, even by secured credit card standards.

FeeAmount
Annual fee$0
Foreign transaction fee0%
Authorized user fee$0
Cash advance fee3% ($10 minimum)
Late feeUp to $38

How to apply for Capital One Secured credit card

Capital One Secured credit card applications can be completed online or in a physical branch location. Even if you have bad credit, you could still be approved for a Capital One Secured credit card if you have enough funds on hand to pay the required security deposit.  

  1. Complete the application: You must provide personal and financial information, including your total annual income, monthly rent and employment status. To be eligible for a Capital One Secured credit card, you must be at least 18 years old, have a valid Social Security number and U.S. mailing address, and meet other financial requirements.
  2. Pay the security deposit: Approved applicants can pay their required security deposit online or at a physical branch location. Your personal credit history will partially determine the minimum Capital One Secured credit card deposit. It’s possible to make partial payments as long as you pay the minimum required deposit amount within 35 days of approval. If the deposit is not paid within 35 days, you won’t be able to open the account. Note that deposits must be at least $20 and in whole dollar increments.
  3. Get a Capital One Secured card in the mail: Your new card will be sent to you via mail after Capital One processes the required deposit. This usually takes 2–3 weeks, but expedited shipping is available for an additional fee.

Capital One secured credit card FAQ

How is a Capital One Secured credit card different from a prepaid card?

Unlike a prepaid debit card, a Capital One Secured credit card helps you build credit with responsible use over time. The refundable deposit functions as collateral for the line of credit, so you must make monthly payments on your balance.

Will my Capital One Secured card have the word “secured” on it?

No, Capital One Secured credit cards don’t have the word “secured” on them — they look much like any other Capital One credit card.

Can I be declined for a Capital One Secured credit card?

Yes, you can be declined for a Capital One Secured credit card if you don’t have a bank account, if you have an unresolved bankruptcy on your credit report or if your monthly income doesn’t exceed your monthly rent or mortgage expenses by at least $425. Capital One will also decline applicants if they have applied for a Capital One card three or more times in the last 45 days, have more than two open accounts with Capital One or have a Capital One credit card charged off in the previous year.

How long does it take to get your Capital One Secured credit card?

After your application is approved and you pay the initial security deposit, you can expect to receive your Capital One Secured credit card in the mail within 2–3 weeks. For expedited shipping, an additional fee is charged, and the card usually arrives in 1–2 business days.

Is Capital One Secured credit card worth it?

The Capital One Secured credit card is worth it if you’re serious about building credit and are sure you will pay the full balance each month. Capital One Secured cardholders can qualify for a higher line of credit after just five months of on-time payments. Paying on time is easier with this card, thanks to the account alerts and flexible payment scheduling.

Capital One Secured Credit Card Reviews

Stars Rating

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  • 86%

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    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 10
    Customer ServicePrice

    Reviewed June 5, 2024

    I have been a Capital One customer for 20 years. I ALWAYS pay in Full, every month. I also have CDs with Capital One. My most recent payment, by check, did not arrive. I reached out the day before my due date, and was not offered any waiver of fees or interest until the payment arrived. My credit score is above 830! HORRIBLE CUSTOMER SERVICE, and Will cash out when my CDs are due, and cut up this card, which I don’t really need anyway! Done.

    Staff

    Reviewed May 3, 2024

    This bank is absolutely garbage. Took them over 1 week to get my new accounts after fraudulent activity. I was without money for 1 week and they also restricted my credit card. The branch ambassador was not knowledgeable at all! Told me I wouldn't have access to any of my bank accounts unless they took the restriction off of my credit card. I had to send them my driver's license, a copy of my utility bill, and show them a physical copy of my social security card for verification. I had everything except my social security card and without that I couldn't get the hold off my credit card. Because I didn't have the physical copy of my social security card for verification all my accounts remained looked! I ordered a new social security card that's going to take 2 weeks to arrive, but of course I'm not going 3 whole weeks with no money! So I closed the account.

    After I closed the account I left and called another bank, and they told me the credit card doesn't affect any other accounts and gave me access to both my checking and savings account with no problem. I basically closed my credit card account for nothing! Thanks to that genius for giving me false information. Pathetic.... Oh and I had a 4,000 credit limit and when that account got closed due to fraudulent I applied for another card. I got approved but for only 300!!

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      Customer Service

      Reviewed April 15, 2024

      Applied for a Capital One secured credit card. Was approved then The problems began immediately. Trying to enter a deposit amount, I ended up depositing $550, instead of my intended $50. Calling customer service, was told to call back in a week to get my refund of $500. Called back a week later. Was told that it would take 14 to 21 days to refund my $500. Was told that the card would arrive and 12 to 14 days, and also told that I hadn't been approved yet, that my application was still being processed. I canceled the application. still waiting on my $550 refund now. I don't understand how a bank in 2024 can't immediately refund money back to my account. Not happy. Would not recommend this card for anyone. Not even my worst enemy.

      Customer ServiceStaff

      Reviewed April 4, 2024

      Signed up with Capital One Quicksilver card but then they gave me a different Quicksilver card and won't give me my $200 bonus. So they intentionally let me use the other Quicksilver card accumulating up to $500 and more. Then not giving my $200 bonus. But instead they should have just declined the original Quicksilver card I applied. Plus I kept getting someone foreigner that didn't speak good English. Capital One wouldn't explain the reason that I didn't get my $200 bonus for 3-4 months. Never sign up!

      Punctuality & Speed

      Reviewed March 19, 2024

      Won’t lower over 32% rate. Higher than any credit card I have. Never been late and recently paid balance to zero. Fico very high 700-800. Very disappointed. Also have Capital One Walmart. Not good.

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      Punctuality & Speed

      Reviewed March 19, 2024

      I recently opened a checking account and set up this account for credit card auto-pay. I transferred money from my old account without realizing they hold it for around 5 days in pending before posting. When my credit card auto-pay ran, the next day I received an email saying the payment was declined. I went to check my checking account and realized that the money still hadn't been posted. Right away, I went to pay from my old checking account, but I wasn't able to pay for the next 4 days because they canceled but didn't clear that payment. So, after 4 days, I went to pay and saw a $25 late fee that was posted on my account for late payment. They blocked me from paying right away, waited 4 days to apply the fee. I have a checking and savings account with them that I just opened, as well as credit cards; they are going to lose customers over $25 because they won't give you the option to correct the account or switch payments. I should have stayed with Chase; they always go the extra mile for their loyal customers.

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      Reviewed March 19, 2024

      Have an account with Capital One with a credit limit of dollars and by their own words minimum payment for this account would be about $30 a month which was set up on auto pay. To expedite I gave them $250 before my due date. They took an additional $250 on my due date without my permission.

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      Customer ServicePricePunctuality & SpeedStaff

      Reviewed Jan. 21, 2024

      Because of my excellent credit history, I get offers all the time for 0% credit cards for extended time. Capital One did not notify me that the 0% interest rate was ending! They charged me 30% interest and my credit rating is 800! I called customer service, I spoke to a representative and told them they were supposed to notify me that the 0% introductory rate was ending. She put me on hold 17 minutes later. I called back and spoke to an account manager! Probably the rudest most condescending individual I have ever spoken to.

      Within 15 days I completely paid off the total balance! It left a balance of $85. They're so angry with me they're calling for the entire $85 payment instead of just a portion. It's not a problem. It just goes to speak volumes about how they treat their customers! This bank is damaging people! This bank is Anti-American! This Bank should be overseas in China or some other communist country operating!

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      Customer Service

      Reviewed Dec. 21, 2023

      I need to change the phone number on my account in order to access it to pay the bill. They insist on two factor verification so they text a code. They don't have my new number to text the code. I called, the recorded message kept saying it couldn't help me. The live chat had me take photos of my ID twice, and when I called again, they told me I have to wait six days to be verified via my ID. I need to pay my bill tomorrow. This is a ridiculously long process to change a phone number. I changed it with my other bills and cards instantly but this is going to take me days??? Unreal.

      Reviewed Nov. 7, 2023

      Paid off my card and was told I could use my card in 10 days just to be lied to and find out my card was charged off, then they said I would be refunded and still haven't been refunded my money back. This card is horrible.

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      Capital One Secured Credit Card Company Information

      Company Name:
      Capital One Secured Credit Card
      Website:
      www.capitalone.com