New to this card
New to this card
$39 fee after a couple years?
I started rebuilding my credit a couple years ago(3?) and it was a great card to assist with that. Last year I was charged a annual fee which I needed to call and dispute. The gentlemen on the phone said he could waive the charge this ONE time. I tried to point out to him that the terms says there shouldn’t be any annual fee. He dismissed my claim and continued to waive the charge. A few days ago I was charged another annual fee and just got off the phone with the dispute center. The gentlelady that assisted me says that the $39 is part of the agreement, but I am still seeing no annual fee on the terms and conditions. I will be closing this card. I’m upset they are doing this because this is my longest credit card on file. Currently, my main card is Chase Sapphire Reserve with a 10k limit. This card definitely helped me climb up even though I only got a $351 limit on it.
No ability to upgrade to unsecured card
Hi - I’ve had this card for 3 years. It is fine to use this card to start to rebuild credit - HOWEVER - you cannot upgrade this card to a better, unsecured account. Do not believe anyone who posts that this is possible, I have spent hours on the phone talking to many levels of service reps. They CANNOT convert a secured card to an unsecured card. They also will not increase your credit line unless you add more money to your account. Finally, in order to upgrade yourself from a secured card to an unsecured card and really increase your credit score, you have to CLOSE OUT this secured account. This is terrible for your credit score and absolutely unacceptable. It also means you will never get your deposit back. This card is helpful if you can’t get anything else due to bad credit, but please go into this with your eyes wide open. I’m extremely annoyed and upset.
I acquired this secured credit card roughly one year ago to help build my credit. All the steps were straight forward and I received my card in the mail. I used the secured credit card occasionally and paid my balance at least one week prior to the due date to ensure my credit worthiness. Recently, I made a payment on the account one week before the due date and for some reason, my bank declined the transaction and the payment was never posted to my account. I had no recollection of this issue and capital One never contacted me by any means until they sent me an email after 12AM on the 15th and the payment is due on the 15th.
When I opened the email around 9am after waking up, I logged into my Capital One account only to find they assessed a late fee and my payment was never posted by the due date, which means a missed payment alert will be posted on my credit report. I’m a reasonable person and I knew the initial issue was with my bank.
So I called Capital one’s customer service in hopes they will waive the late fee due to the unfortunate circumstances and process a payment right over the phone to try and get the issue resolved, but Capital one refused to waive the fee and refused to refrain from posting a late payment alert on my credit report.
This was unfair and unjustifiable and I am very disappointed in Capital One.
They boast about being a solution for people with troubled credit but fail to help preserve it due to a minor discrepancy. Long story short, I canceled my account with Capital one and paid of my balance. The negativity and lack of support this company promotes is atrocious. Sign up at your own risk.
Great credit building card
I applied for capital one in January with no credit history at all.I put down $49 for$200 credit line.I have been using my card less than 10% and so far so good.Got clip of $500 this month which is exactly six months.My credit score has gone above 700 and I can’t believe it.Today I got pre approval for discover it credit card and was approved for $2000 with no money down thanks to cap 1.All this is possible because of cap1.I intend to keep both cards below 10%.Looking forward to seeing where I’ll be in a year.
Great Card, Slow Growth
I was able to open this card with absolutely no credit history, no bill history, my credit score was “–” for the longest time. Got a $203 limit with a 50 dollar deposit. After a full year (almost to the day) of on-time payments and continuous use (along with opening a few more credit cards) my deposit was returned and my limit was expanded to 500. Now, almost 18 months in I still have the same 500 limit while I have been requesting an increase pretty much every month. Good news is that capital one doesn’t pull a hard inquiry to approve/decline the limit (unlike other institutions) another good thing is that this Card doesn’t have an annual fee (also unlike other institutions). All in all, this is my oldest card, I’ve set some bills to auto pay from here but I don’t use it as a go-to card because of the low limit (and no rewards). I do not plan on closing unless their terms change.
Fine for now.
Decent card, was approved for $200 with a 200 deposit, score is 527 at the moment. I would first try for the discover it card, I was denied… I would tr for it first becuase this card never matures to unsecured card.
Thanks for taking a chance on me!
I got the card in July '17 with credit score of 517, my score is now 608! I’m so happy with the card, and the app is very easy to use, i get excited to make payments! I’m so thankful that Capital One took a chance on me! My credit was effected by family who got accounts in my name and never paid the balances! This card is really helping build a better future for myself!
Garbage and scam
It is a scam card. The sent the card but refused to activate. They will return deposit back in six month.
The best credit cards .
I have bad credit , I tried every where but always got one answer Then I tried Capitalone Secure credit card . This card is the best of the best I have never see . You don’t have to pay anything and stay on the best of your credit . Thank you so much Capitalone for giving me another chance !
Capital One False Advertising
When I signed up for the card I paid a $200 deposit and got a $300 limit. The site stated that after 5 consecutive months of on time payments my limit would be increased. Well I have made my payments and was just told that a limit increase is not applicable on the secured card. They lure you in with false promises and then do nothing.
NO WAY TO ADD FUNDS
Don’t waste your time unless you have 5 grand cash in hand to fund your account before you even get started…
Unlike all the other secured cards out there, Capital One will not let you add funds into the security account to increase your credit limit.
So if you opened the account with the minimum 49.00 to see if you like the card/services with plans on adding a couple of grand from future pay checks then do not bother.
My Secured Cards from Discover and Elan Financial both let me add funds daily if I wanted to.
Cancelling this card with 200.00 limit that is locked at 200.00, can’t even use it to buy groceries or pay a power bill with it - useless!
Let me say i was very excited to receive my card in the mail because i was starting a new path, trying to get my credit together but once i called to activate my card which was really my second point of contact with the company my excitement was quickly taking away and was filled with disbelief. The customer service department is EXTREMELY HORRIBLE well let me say the few that i spoke with are.
They all tell you one thing and it has been and still is something completely different. The are there not for our behave or to make sure we are taken care of but just to sit tell you whatever it is they want so that they earn a check while the money that you earn just sits around nd float wherever with no concern. POOR VERY POOR.
I got this credit card a year ago to help me build credit. Unfortunately, two things make this Capital One Credit Card a downer:
Capital One starts you off with a $200 credit line which is increased to $500 after ~6-9 months. There seems to be no way to ask for a further increase: customer service will refer you to an online request form, and the request form’s verdict is that this type secured credit card is not subject to credit line extension requests. I do all my payments on time and have no debt. Considering this, being artificially capped at $500 is rather limiting.
The Capital One app uses CreditWise to update its clients with a free monthly credit report. While CreditWise does show you a credit score, this score is NOT representative of what other credit bureaux will render. In fact, I realized after a year using this card that whatever payments I make on it are not taken into account by Equifax, as I was shown to have a score 100 points lower than expected, as if I had never owned a credit card at all. Very frustrating experience, as you can imagine.
This card might be good as your first credit card ever, but don’t count on it to build your credit. I ended up being very disappointed by its unfulfilled promise.
I absolutely love this card .
Capitol one is an excellent card to have . No fees , or any surprise charges . When one is starting or restarting their credit this is the best card hands down . After 7 months they gave me a credit raise without any additional security deposit .
Customer service is excellent !
Run away and get something else - Fraud
I had this card 3 months, then was sent another card unexpectedly and notified my information had been compromised. After one week, and never using the card, it was declined. I called and found out ANOTHER card was sent the day before TO A DIFFERENT ADDRESS IN ANOTHER STATE. I cancelled that and reported it to the fraud department. That was 3 months ago. Now, the “deposit” I submitted has not been returned due to the “Fraud” on the account and when I called AGAIN today I spent 45 minutes on the phone for them to tell me the same thing.
Basically they sent a replacement card to an unknown address, without notifying me, then when I cancelled the card suddenly it has a “fraudulent” transaction and nobody can seem to tell me details.
Good luck with this- big mistake- they have lax security and you will have issues with identify and getting your deposit back.
Good for first time users
I signed up February 2017 for my first credit card (Capital One Secured). My credit score is low due to delinquencies on student loans and not having any revolving credit. I paid $49 down to get $200 line of credit. September 2017 my credit line was increased to $500. February 2018 my card was upgraded to UNSECURED and I got my deposit back. My limit however is still $500. My credit score has gone up a great deal, around 60 points in the past year with just this changing. I pay off my bill entirely each month AFTER the statement posts and before it is due. No issues.
Really helps if you are responsible
My credit score was around 580. I decided I wanted to rebuild my credit, medical bills in collections didn’t help at all. I’ve never owned a credit card before, so I researched and decided on this card. In March '17 I deposited $99 and got a $200 credit limit. I upgraded my wife’s phone and used my credit card to pay for the insurance via autopay. Roughly $12 is taken out monthly. Keeping my credit utilization at 6%. In Sept. '17, my credit limit increased to $500. By that time my score was at 614. By late Sept. some debt went past the 7 yr. mark and fell off increasing my score to 625. I paid my bills on time and always kept my utilization below 10%. I requested for a limit increase, got a letter saying secured cards can’t get increases by request. I got a little impatient and figured more of a limit is good and read posts where applying for another card only drops your score around 4 points. I applied for the Cap One Quicksilver card (unsecured yearly fee) and was approved for a 200 limit. My score dropped from 628 to 609. I was irritated at first, but it was my fault for being impatient. Slowly my score has gone back up as of Feb. '18 my score is 631. My Secured platinum card has just became unsecured and the $99 deposit was credited to my card balance after 11 months. I will continue to keep my utilization low and this time be more patient. I hope to get a limit increase after the 1 year mark. My advice is keep your utilization low, set up an automatic payment that is under the 10% mark of your available credit and don’t use it for anything else. I look at rebuilding your score as if you crossed your spouse. You are sorry for what you did, you want them back but you have to regain their trust. It takes time and commitment to regain that trust. You have to show them the effort that you are worthy. Time and responsibility is the key to that. It won’t happen over night but you will eventually get there.
DENIED for a SECURED CARD.
Credit score 620. Denied for a secured card even though I had a 7 year old 300.00 unsecured card through them with 7 years of perfect payment history and a brand new 300.00 limit unsecured card both with CAPITAL ONE> WTF???