Capital One® Secured Mastercard®


prepaid card

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at Capital One's Secure Site

Annual Fee

$0

Regular APR

26.99% (variable)

Fraud Protection

Yes

Security Deposit

$49, $99 or $200

Credit Limit

$200 or more

Credit Reporting

Reports to all three bureaus

Credit Needed

Poor/Limited/New

Card Brand

Mastercard®


The Capital One Secured Mastercard is a great secured credit card for building your credit. This card reports to all three of the major credit bureaus and offers a path to upgrading to an unsecured card in the future.

The initial credit line will be $200 and you will be required to make a deposit, which can be $49, $99 or $200, depending on your credit history and application information. $200 isn't much but it's a start, and remember that your goal here is to rebuild your credit.

As you manage your account responsibly, you will be eligible for a credit line extension of up to a maximum of $1,000. You may or may not have to pay an additional deposit for credit line extensions.

No annual fee

Unlike most secured credit cards, the Capital One Secured Mastercard has no annual fee. Having poor or no credit costs enough as it is, which is why this card ranks highly on our list.

Free credit monitoring with Capital One® CreditWise®

Another great benefit of being a Capital One customer is their free credit monitoring service, CreditWise. CreditWise monitors your TransUnion credit report so you can see everything that is being reported, including information relating to your secured credit card. This is a great tool for those building their credit.

Graduating to unsecured

Many people have reported Capital One "graduating" their secured card to unsecured, meaning your security deposit will be returned to you in the form of a statement credit. This is not a guarantee, but the longer you have made timely payments and kept your balances low, the better your chances will be.

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