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Capital One Secured Mastercard Review

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The Secured MasterCard® from Capital One is one of the most popular secured credit cards. It offers a security deposit as low as $49 and an initial credit limit of $200. It charges no annual fee.

Secured MasterCard® from Capital One
Learn More
Our Rating
4.5/5.0
Welcome Bonus
None
Annual Fee
$0
0% on Purchases
None
Rewards Rate
None
0% on Balance Transfers
None

Snapshot

  • Annual Fee: $0
  • Regular APR: 26.99% (Variable) (as of 07/06/2021)
  • Security Deposit: $49, $99 or $200, based on credit worthiness
  • Starting Credit Limit: $200 and automatically considered for a higher credit line in as little as 6 months.
  • Credit Reporting: Payments reported to all 3 major credit bureaus

Editorial Review

Pros & Cons

Pros

  • No annual fee
  • Security deposit as low as $49
  • Reports to all 3 credit bureaus
  • Free access to your credit score with CreditWise

Cons

  • Starting credit limit just $200
  • No signup bonus or rewards

Who the card is best for

The Secured MasterCard® from Capital One is best for those rebuilding their credit. As a secured credit card, those with no credit, bad credit or even a bankruptcy can qualify. It charges no annual free and reports payments to all 3 credit bureaus.

Alternatives

For those with bad credit, there are other reasonable options. There are a number of excellent secured credit cards, and some unsecured cards for poor credit as well. Specially, we like the following alternatives:

Approval Odds

Credit card companies consider a number of factors when evaluating an application. These factors may include income, debt, existing credit cards and, of course, the applicant's credit score.

While credit card issuers do not publish the criteria for approval, we collect publicly available data on credit scores for those who have been either approved or denied for a credit card. Keep in mind that we cannot verify this information and an issuer's credit score requirements can change over time.

  • Approved (09/01/2017): 580 (Equifax)
  • Approved (08/10/2018): 604 (Equifax)
  • Approved (08/10/2018): 634 (TransUnion)
  • Approved (08/10/2018): 637 (Experian)
  • Denied (01/12/2018): 503 (Not Provided)
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Is the Capital One Secured Mastercard a good credit card?

It is a good credit card for those trying to rebuild their credit. It reports to all 3 credit bureaus and charges no annual fee.

Can I qualify for the Secured MasterCard® from Capital One if I’ve filed for bankruptcy?

Yes. While Capital One doesn’t disclose its underwriting standards, those who have been discharged from bankruptcy can qualify for the card.

Does the Capital One Secured card report payments to all 3 major credit bureaus?

Yes. Capital One will report payments and balances to Equifax, Experian and TransUnion.

About Rob Berger

Rob Berger is the founder of allCards.com. He's written about personal finance and investing since 2007 and is the author of the highly acclaimed book, Retire Before Mom and Dad. He is a former litigation attorney in the securities field and the Founding Editor of Forbes Advisor.