Quick, easy application and approval process
After several major life catastrophes, my credit score went from 785(at its highest) down to 551(as of today.) I started looking into secured cards after joining the NerdWallet community as a way to start rebuilding my severely damaged credit( I have several accounts either charged off or in collections for a total of over 12k.) I had thought of getting a card with OpenSky, as they do no credit check, but decided to try for this card, since there was a possibility of getting a limit higher than my deposit. The application process is quick and easy, and they give you results immediately. I was, even with my poor credit, able to get a card with a $200 limit with only a $49 deposit, and I have the option to increase my limit whenever I choose simply by adding additional funds. The only negatives are the fact that you cannot make your deposit with a debit card–you have to provide them with your routing and account numbers–and the payments, according to Capital One, may take 10 days to process and the card can take an additional 2 weeks to be sent.