Capital One® Secured Mastercard®
- No annual fee, and all the credit building benefits with responsible card use
- Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
- You will get an initial $200 credit line after making a security deposit of $49, $99, or $200, determined based on your creditworthiness
- Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed
- Easily manage your account 24/7 with online access, by phone or using our mobile app
- It's a credit card accepted at millions of locations worldwide
- No annual fee
- Access to higher credit line
- Flexible deposit requirement
Unlike most secured cards, Capital One Secured Mastercard doesn’t require cardholders to make a deposit which equals to their credit line. Besides, people don’t need to come up with the whole deposit upfront. However, people will have a credit limit of $200 for the deposit of $49, $99, $200 depending on the credit score. This card gives cardholders access to a higher credit line without depositing money when making the first five payments on time.
People who want to own this card need to have a checking or savings account. For individuals who have a severely damaged credit won’t be qualified for this card.
Capital One Secured Mastercard will be a great option for people whose credit is not severely damaged. If you are searching for a good credit card for bad credit, take this card for reference.