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Capital One Secured Credit Card Mastercard
Capital One Secured Credit Card Mastercard

Capital One Secured Credit Card Mastercard

Despite the lack of a rewards program, Capital One Secured Mastercard’s low security deposit, reasonable wages and a shorter route to a higher credit limit make it a good choice for credit-enhancing consumers.

Great for

$ 49, $ 99 or $ 200 after a deposit start with a $ 200 credit limit. Once a 5-month timely payment is made, you can access a higher credit limit and start creating credits without additional payment.

Important

  • Yearly fee and all credit benefits with responsible card use
  • Unlike a prepaid card, it generates regular reporting to 3 major credit bureaus, creating credit when used responsibly.
  • After you receive a security deposit of $ 49, $ 99, or $ 200, depending on your credit value, you will receive a $ 200 start-up credit.
  • After making your first 5-month payments in a timely manner, you can get a higher credit limit and receive the necessary additional deposit.
  • Easily manage your account using our 24/7 online access, phone or mobile app
  • It is a credit card accepted in millions of places worldwide.

Capital One Secure Credit Card Mastercard review

Features

CreditWise, $ 0 fraud liability, extended warranty, car rental insurance, travel accident insurance, 24 hour travel assistance, 24 hour roadside assistance, price protection

When you try to create your credit or even rebuild it after a money or two money, the best credit cards and financial products are often inaccessible. However, while Capital One Secured Mastercard is a fairly low frill, it offers an inexpensive way to raise your credit score and show responsible credit usage over time, which should open the door of unsafe cards with better terms and advantages.

Low security deposit required


The security deposit required for Capital One Secured Mastercard varies between $ 49 and $ 200 depending on credibility. This is a much lower barrier to entry compared to many other secure credit cards, many claiming applicants as at least $ 300 (or even more) in advance. The security deposit can be paid over time and can be fully refunded if you close your account (if your balance is fully paid) or if you graduate from an unsecured card with Capital One.

Up to $ 1,000 credit limit


You are guaranteed a $ 200 start-up credit as long as you make the minimum security assurance up to a minimum of $ 49. You may choose a higher credit limit by depositing more funds before your account is opened, but your credit limit will only be up to a maximum of $ 1,000 with that deposit value.

Cardholders can also reach their higher credit limits by making their first five-month payments on time. This is an important step to demonstrate the type of responsible credit use that can help you graduate from an unsecured card – perhaps with a reward or cash reimbursement program.

Non-existing awards


Capital One Secured Mastercard, which mentions a reward program, has nothing to say. In the case of the most secure cards, this offers valuable prizes in this category, while other options include Discover it Secure Card’s restaurant and other options, such as a 2 percent refund at gas stations and 1 percent cash reimbursement.

Low cost of ownership


Without paying any annual fee, there is hardly any cost to open a Secure Mastercard account – except for the first security deposit. And you will not be subject to any additional interest, fees or penalties, provided that you pay your balance on a full and timely basis each month.

High APR


Like most trusted credit cards, Capital One Secured Mastercard also comes with a high APR, but 24.99 percent of this category is considered a high probability.

Very little charge and punishment


Most importantly, Capital One Secured Mastercard comes with no transfer fees or foreign transaction fees. In addition, Capital One will not raise your APR if you pay late and will not charge you for the refunds that have been returned to you.

However, other fees and penalties are quite standard when it comes to safe cards. In addition to the APR described above – you can quickly increase your overall balance if you don’t pay your card fully each month – late payment will cost you $ 38 and you’ll be charged $ 10 to get a cash advance. or 3 percent, whichever is greater. Earn extra money by keeping all payments current and avoiding cash advances.

Capital Advantages of a Secure Mastercard


Capital One Secured Mastercard offers very standard benefits for a card in its class:

CreditWise – CreditWise helps you stay on top of your credit score and helps you avoid potential frauds associated with your Social Security number. You will also receive alerts when there are any changes to your TransUnion credit report.
There is no foreign transaction fee – Use the card to buy 3% abroad without paying any foreign transaction fee.
24-hour travel assistance – If your card is lost or stolen during travel, you will receive an emergency change and a cash advance.
Extended warranty – Enjoy free additional warranty protection on eligible products purchased with the card.
Price protection – This benefit will refund you the price difference on eligible products when you find a lower price within 60 days of purchase.
$ 0 liability – You are not responsible for any costs incurred in case of loss or theft of your card.

Approval rates
Even though a secured credit card does not offer a guaranteed confirmation, you have a high chance of qualifying for Capital One Secured Mastercard with the necessary security coverage. This reduces your risk of paying in payments if you pay more than you can pay. to pay. Even if you have used another credit or credit card in the past – or if you have recently been closed for credit – you will still continue to apply and will likely be approved.


Even though a secured credit card does not offer a guaranteed confirmation, you have a high chance of qualifying for Capital One Secured Mastercard with the necessary security coverage. This reduces your risk of paying in payments if you pay more than you can pay. to pay. Even if you have used another credit or credit card in the past – or if you have recently been closed for credit – you will still continue to apply and will likely be approved.

This should be at least 18 with a valid check or savings account. In addition, your monthly income should be paid at least $ 425 per month for your monthly rent or mortgage payment; A bankrupt bankruptcy may also be denied.

Why Get Capital One Secured Mastercard

  • You are looking for a card to help you create or rebuild your credit.
  • You can get a guarantee of at least $ 49.
  • You’re looking for a low-barrier card for entry.
  • You’re less worried about increasing your credit score than winning.
  • If you pay on time, you want a card with a higher credit limit.
  • You don’t plan to carry a balance from month to month.


Capital How to use a Secure Mastercard

  • To avoid paying a fine, ensure that all payments are made in a timely manner (do not mention hitting your credit report). Consider signing up for Autopay, so don’t forget. Paying on time is one of the best ways to create a healthy credit history.
  • You can increase your first credit line by applying a higher security guarantee. Doing so may help you increase your loan utilization rate.
  • Avoid receiving cash advance, fees can increase your total debt quickly.
  • Pay your regular balance every month in order to accrue higher interest payments than the average. Not to mention, carrying a balance can make it more difficult to prove your reliability for card creators.

The Capital One Secured Credit Card Mastercard can be requested here!

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