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!
Capital One Platinum Secured Credit Card: Build credit and pay no hidden fees
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!
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.
|300 or higher credit;
|No annual fee;
|24.49% variable APR for purchases and cash advances;
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
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!
- 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.
- 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.
About the author / Beatriz Vieira
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