Capital One secured credit card fee schedule
|2011 Credit Card Fee Survey|
A year after the Credit CARD Act's major provisions went into effect, predictions of an onslaught of fees haven't come true.
Applicants for these cards must deposit money into an account to secure their borrowing. When they use the secured card to make purchases, they are essentially borrowing and paying back their own money. Credit counselors advise secured card users to make small purchases and pay off the entire balance on time each month to avoid interest charges and to show they are good credit risks.
The survey of secured card offers was conducted in May 2011.
Here are the 2011 secured card fees for the Capital One secured card:
|Other fees, conditions||Credit limit is not equal to deposit ($200-$3,000). There is a security deposit of $49, $99 or $200, based on credit history. Once determined, that dollar amount is deposited and will constitute the initial $200 credit limit (i.e., if approved for the $49 deposit, the credit limit will still be the minimum of $200). Cardholder may increase the limit up to a maximum of $3,000. No other fees. Reports to all 3 credit bureaus. Secured deposit is refunded as a check. No interest is paid on deposit.|
- Rising rates, bigger card balances cripple millennials’ home buying ability – A new study shows nearly three quarters of millennials rate homeownership as a "top priority." But rising interest rates and high card balances could keep many of them from making down payments on their first homes ...
- 2018 Credit Card Fee Survey: Fees freeze as rates rise – Cardholders are most likely to pay fees if they pay late, take out a cash advance or carry a balance, according to the 2018 CreditCards.com Credit Card Fee Survey ...
- Fed: Card balances rose $4.8 billion in August – Revolving debt -- chiefly credit card balances -- grew at a 5.6 percent annual rate in the back-to-school shopping month, according to the Federal Reserve ...