Written by Amy 3 weeks ago
This low cost secured credit card is designed to help you build your credit.
Review of the Capital One Secured MasterCard
The required security deposit for the Capital One Secured MasterCard is $49, $99 or $200 based on your creditworthiness. With the required security deposit you’ll get an initial credit line of $200. A bigger security deposit will get a higher credit line. You can also earn a higher credit line by making your first 5 monthly payments on time. Most secured credit cards limit your credit line to the amount of your deposit, so it’s a huge plus that this card offers a credit line bigger than your deposit.
The Bottom Line
If your credit is in need of repair, this card is a great option to rebuild your credit and eventually upgrade to an unsecured credit card like the Capital One Platinum Credit Card.