Credit Cards

Capital One Platinum Secured Credit Card review: rates, pros and cons

See if this card is right for you! Learn more about the benefits, drawbacks and more. Read our Capital One Platinum Secured Credit Card review and find out if it's good for you!

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Capital One Platinum Secured Credit Card: Build credit and pay no hidden fees

Capital One Platinum Secured Credit Card
Capital One Platinum Secured Credit Card review! Source: The Insider Advisor

Do you have bad credit and need a credit card to rebuild your score? If so, read this Capital One Platinum Secured Credit Card review!

Capital One logo

Read more about the Capital One Platinum Secured

Learn how to apply for the Capital One Platinum Secured Credit Card today! Qualify with bad credit and build your credit score!

In addition, you won’t have to pay an annual fee! Keep reading to learn more about this credit card and whether it fits your needs.

Credit Score300 or higher credit;
Annual FeeNo annual fee;
Regular APR24.49% variable APR for purchases and cash advances;
Welcome bonusN/A;
RewardsN/A.

All you need to know about the Capital One Platinum Secured Credit Card

Capital One Platinum Secured Credit Card offers flexibility regarding security deposits.

This card allows lower minimum deposits for new customers. Consequently, they can choose between $49, $99, or $200 as a security deposit for an initial credit limit of $200.

Also, this security deposit is refundable. You can earn it back as a statement credit using your credit card responsibly!

Additionally, it offers no hidden fees. Therefore, customers won’t pay annual, foreign transaction, or authorized user fees.

This credit card accepts applicants with limited credit and is a great way to work on your credit limit. As a result, It reports your monthly payments to three major credit bureaus.

It also offers additional benefits, such as $0 Fraud Liability, free access to your credit score, and a great mobile app for managing your account.

Capital One Platinum Secured Credit Card details

Shot of african american businessman holding mobile and credit card, while resting in the cafe
Learn Capital One Platinum Secured Credit Card details! Source: Adobe Stock

Despite the lack of welcome bonuses and rewards, Capital One Platinum Secured Credit Card is a great starter card.

However, like any financial product, we must also consider the benefits and drawbacks. Then let’s compare the pros and cons of this credit card!

Advantages

  • Charges no annual fee;
  • Offers no foreign transaction fee;
  • Reports your payments to major credit bureaus monthly;
  • Accepts applicants with lowers credit;
  • Delivers free access to your credit score;
  • Enjoy Zero Fraud Liability;
  • Refundable minimum deposit.

Disadvantages

  • A minimum deposit is required;
  • No reward programs;
  • Higher APR rates.

What is the credit score necessary to apply?

Capital One Platinum Secured Credit Card is a great way to establish or rebuild credit!

It accepts applicants with poor credit scores. As a result, you must have a credit score of at least 300 to qualify for this card.

Learn how to get the Capital One Platinum Secured Credit Card

You can apply for this credit card through the Capital One website. In fact, the application is simple, and you can get pre-approved without hurting your credit score.

So keep reading to learn more about the application process.

Capital One logo

All you need to know about Capital One Platinum

Learn how to apply for the Capital One Platinum Secured Credit Card today! Qualify with bad credit and build your credit score!

About the author  /  Beatriz Vieira

Beatriz Vieira is a producer and copywriter who is part of the finance writer team in this portal. She has a degree in Journalism and aims to improve her bilingual writing skills. Her subjects of most significant interest are culture, finances, and self-development.

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