Capital One Secured Master Card

Capital One Secured Master Card
3.9 0.0 0.0 0.0 0.0 128

#21

Great card overall

Overall this is a great credit card. It was very easy to apply for and manage with the online service and features. After less than one year of making timely payments, my credit line was increased significantly.

The card offers very convenient online features. It’s very easy to customize your card’s appearance, set payment reminders, make payments, view statements and contact customer support. On one occasion there was a fraudulent transaction on my card and the customer service team was very helpful both in online chat and over the phone. My card was promptly replaces and I was refunded within 48 hours. Overall great service.


#22

Great card for security.

This card has great features. I have used it to build up my credit and get started. Capital One is also a great company that will stand with you if you have fraudlent charges. Each time I have had one, they have taken it off, and transfered my number to a new card number with no questions asked. Great card and great company!


#23

Quality first credit card

This was the first credit card that I had in my life. I think it was a good card to start with to understand how and what to use a credit card on. I got the card while I was a student in college, so qualifying for it was on the more lenient side when it came to credit worthiness. At first my credit line was only $500.00, but with consistently made payments on time it eventually rose to $2,500.00.
I would usually put things that I would be able to pay back when the bill came due. I only put a large expense (spring break trip) on it one time. The reason for this was that the APR was quite high (24.99%). Because of this it took me a while to pay back the principle amount plus interest. That being said, it was a great card to have as a first credit card to learn how to pay for common life expenses and understand how having a credit card could help you in life.


#24

This is a great card for people who have had damaged credit in the past. It’s a fresh start.!!

My honest review of the capital one secured MasterCard is that this card great!!! You pretty much set your own credit line and it helps you manage your spending well. I would definitely recommend this card for people who are trying to rebuild and raise their credit score.


#25

Good Card for those with credit problems

This card has been extremely useful to me, though I find the cost of using it to be unacceptably high. There is a very high interest rate on all purchases made with it, which is in addition to a high, yearly access fee. I generally only use it as a means to secure necessary travel arrangements and then pay the bills in cash, to keep the costs of using the card down. For someone like me, who has credit problems but still needs to have access to a financial network, the Capital One Secured Mastercard is a good, but expensive, choice.


#26

Great Card for Rebuilding Credit

It is an o.k. card. Has an high interest rate but that is to be expected for a secured credit card. The plus of this card is that it requires less than other secured cards available and it actually has raised my credit score a number of points since I first acquired it.


#27

Great card for rebuilding.

This card is ideal for someone working to rebuild their credit. It has helped me to receive offers on other major credit cards and helped my score.


#28

Great card for establishing a credit history.

In many ways this was the ideal first credit card for me to build credit and probably the only credit card I would have qualified for at the time with no credit history. The primary inconvenience of the card is that I no longer live in an area that has many Capital One locations so I have to manage my credit card entirely online, which is doable, but not always ideal.

Also I think Capital One could do more to alert their card holders of unusual charges and to remind them when payments are expected. I once missed a very small payment on this card simply because I forgot when it was due and I have also noticed that it often takes awhile for payments to be processed or reflected in my available credit.


#29

It’s alright

It allows me to have a credit card for online purchasing without worrying about credit limits or overdraft fees.


#30

Great starter card and bad credit fixer

About a year ago I had not credit and really did not understand how credit cards worked. I had tried to apply for numerous credit cards to try to start building up credit, but I kept getting denied and was getting frustrated. I checked my credit score and it was really low only about a 550. Then I came across the Capital One Secured MasterCard. I applied for the card and was approved. It was a little unsettling having to come up with $200.00 to put down as a deposit and my APR was extremely high, but this card has proven to be an excellent way to jump start my credit. Since then I was able to apply and get approved for another credit card.
All you have to do is make sure you make payments on time, but that comes with any card. After nine months they even raised my credit limit by $100.00 I have spoken to customer service a few times and they are extremely helpful and patient. This is the perfect card to start to establish credit or fix bad credit.


#31

Great for rebuilding credit

My credit score took a big hit in the past two years. I lost my job and I defaulted on my two credit cards that I had previously. When I got my new job, I paid those off, but my credit score was really bad. I like this card because my security deposit was only $49 dollars. Capital One says that is based on my credit history and my application information. This is a lot less than other secured cards. The APR is kind of high, but I have been paying it off every month, so the APR does not really affect me. Over the last 8 months, my credit score has gone up significantly.

Pros:
The website is really easy to use
The app is easy to use
Free credit tracker
Low deposit
Reasonable annual fee ($29)

Cons:
High APR
They haven’t increased my credit limit (I don’t really care though)


#32

Great Card for Rebuilding Credit

This credit card has been a lifesaver because I had ruined my credit big time. With zero options for getting a traditional credit card after ruining my credit score after I hit some hard financial times, I had to look for something else like this. It is not a perfect credit card in an ideal world, but for my situation, someone who is trying to rebuild credit and needs a way to begin showing that on a credit report to improve their credit score, it is great for that.

The most important thing to remember about this credit card is that it should be a means of helping you improve your credit, not one that you have used like you did credit cards in the past, buying things you can’t really afford and paying off the minimum balance. You will want to pay off almost the entire balance each month you use it. If you carry a significant balance, you won’t put yourself in the best place financially. By keeping a low balance, you be able to maximize the effectiveness of the card. Plus, you won’t have to pay the fees associated with the high APR on this card. Pay the balance off earlier than you may be used to in order to guard against late payments and the fees that come with them. Sometimes the processing takes longer than you know it should.

In addition to helping with my credit, it’s made things a bit easier because I can use a credit card when I need to like for renting a car and placing a hotel reservation, something that was a struggle for the last 5 years when I had no credit card to speak of.


#33

Great for building credit

It’s been doing it’s purpose of helping me build my credit. It’s easy to use and keep track of. I don’t have to worry about taking a hit on my credit score if something goes wrong.


#34

Simple and secure

I have been using this card for the past several years to make small purchases under $500. It has been good to me. The website for payment is easy to use. One improvement that could be made is to have notifications on when payment deadlines are approaching. This would allow people to better keep track of payment.

I have never missed a deadline so I’m not sure what issues arise from there or the fees. I assume it isn’t too harsh and straightforward.


#35

Good credit card for starting out

I believe this credit card is a good credit card for someone who is just starting out with credit, or for individuals in need of rebuilding their credit. They start you off at a low amount, and should you do well with that they will up your amount within about 6 months.


#36

Good beginner card for those who are not usually approved.

I liked having a secured credit card with Capital One. I never had any problems with them and I was also able to customize the image on the card. The deposit I put on the card was the amount I was able to charge monthly. It was low and if I needed to increase, Id have to pay more. The only problem I had with this was that after being a loyal customer for almost 2 years, they never offered to up my allowance on the card. Still, a good experience overall. The only card I was able to get with no credit. Good for people with bad credit as well.


#37

High Fees

The $30 Member fee is very annoying to me. I have been a capital one customer for 10 years. I am also trying to improve my credit score and I have asked several times to have my limit increased to help my credit and they won’t do it. That makes me a little annoyed as well.
I honestly would not recommend this card, not worth the fee.


#38

Great card for building/rebuilding credit

This has been a good card to use to establish and/or rebuild credit. User fees are low compared to other cards I researched. A small amount (usually $200-300 dollars) is all that’s needed to get started. I appreciate having a major credit card help me to rebuild credit after a major illness caused me to have to file for bankruptcy.

Customer service at Capital One is helpful and easily accessible when I have a problem. I like that I can view card activity on line and that I can pay my balances that way as well. I also like that I am able to increase my credit limit by simply adding funds, and Capital One reports my on time payments to the credit bureau, thus building my credit history.


#39

Great for credit reparation! Easy approval and great terms.

I had barely turned eighteen years old and, thanks to my parents, I had a horrible credit score. Yes, they had bought something in my name and forgotten to pay for it. This left me with very few options, and everything I tried got denied and only lowered my score even more. After doing some research on credit reparation, the I saw that the Capital One Secured MasterCard was a recurring recommendation. I gave it a shot, and I’m glad I did.
The signup process is simple. You enter your information, they check your credit scores, and then you get a deposit amount and limit. The great thing about this card is it’s not a 1:1 deposit to credit ratio; I started off with a $50 deposit and got over $200. Later, I deposited more for a higher limit. Best of all, Capital One offers a free credit score and reports regularly to the three main credit bureaus.


#40

Is a great card to have to build up credit

I swore off credit cards after going through a rough financial time. I decided though it would be good to have one again so I went with the Capital One Secured MasterCard. I got 0% financing for the first year which was key for me and a pretty decent credit limit to start. Everything was great until about 10 months in, and I received a statement which noted that my financing rate jumped to around 18%. When I called to question this, I was told that they could change the terms of that first year agreement at any time and unfortunately, I wouldn’t be getting the last 2 months of my first year at the 0%. I was never late on a payment and I actually was paying off more of my minimum payment every month. There was no budging on this with them and shortly after this, I closed the account. I would strongly advise anyone who is considering this particular card to read every letter of the “fine print.” I would never get another card with Capital One again.