Secured Mastercard® from Capital One review

Secured Mastercard® from Capital One review

Updated: May 13, 2021

Partner Offer: carefully review product terms on Capital One's site before applying

Apply now
Updated: May 13, 2021

Partner Offer: carefully review product terms on Capital One's site before applying

Apply now
Ratings Policy
Credit Building Rating:
3.7 rating
3.7 rating
3.7 / 5
Cost of Membership3.8
Ease of Building Credit2.8

In a Nutshell:

Despite the lack of a rewards program, the Secured Mastercard from Capital One stands out for its low security deposit, reasonable fees and shorter pathway to a higher credit line, making it a good option for users looking to build credit with responsible use.

Learn more about this card

Average cost of membership per year ($3,600 annual spend)

Very Good

Security deposit required
$49-$200 (depending on credit)


Initial credit limit
$200-$1,000 (depending on your deposit)


Access to higher credit line?
Considered after 6 on-time monthly payments


26.99% (variable)


Annual fee


Other rates and fees

  • Balance transfer fee: $0 at the Transfer APR
  • Foreign transaction fee: None
  • Cash advance APR: 26.99% (variable)
  • Cash advance fee: $10 or 3% (whichever is greater)
  • Late payment fee: Up to $40
  • Penalty APR: None
  • Returned payment fee: None



Other Notable Features: $0 fraud liability, emergency card services

When you’re trying to build your credit – or even rebuild it after a money misstep or two – the best credit cards and financial products are typically out of reach. But while the Secured Mastercard from Capital One is pretty low frills, it does offer an inexpensive way to raise your credit score and demonstrate responsible credit usage over time, which should open the door to unsecured cards with better terms and benefits.

Low security deposit required

The security deposit required for the Secured Mastercard from Capital One ranges from $49 to $200. This is a much lower barrier to entry compared to some other secured credit cards, many of which ask applicants for at least $300 (or even more) in upfront collateral. The security deposit can be paid over time and is fully refundable if you close your account (provided your balance is paid in full) or if you graduate to an unsecured card with Capital One.

Credit limit up to $1,000

So long as you make the minimum required security deposit, which could be as low as $49, you’re guaranteed an initial credit line of $200. You can choose a higher credit line by depositing more money prior to your account opening, but your credit line will only increase by the value of said deposit, up to a maximum line of $1,000.

Cardholders can also gain access to higher credit lines with responsible use by making their first six monthly payments on time. This is an important step toward exhibiting the kind of responsible credit usage that could help you graduate to an unsecured card – perhaps one with a rewards or cash back program.

See related: Best high limit secured credit cards

Nonexistent rewards

Speaking of a rewards program, the Secured Mastercard from Capital One has none to speak of. This is par for the course when it comes to most secured cards, though there are other options in this category that do offer valuable rewards, such as the Discover it® Secured Credit Card’s 2 percent cash back at restaurants and gas stations (on up to $1,000 in combined purchases each quarter) and 1 percent cash back on other purchases.

Low cost of ownership

With no annual fee, it costs virtually nothing to open a Secured Mastercard account – other than the initial security deposit, of course. And, provided you pay your balance in full and on time every month, you won’t be subject to additional interest, fees or penalties (more on that later).

High APR

Like most secured credit cards, the Secured Mastercard from Capital One comes with a hefty APR of 26.99% variable, which is on the higher end for this category.

Few fees and penalties

Most notably, the Secured Mastercard from Capital One comes with neither balance transfer fees nor foreign transaction fees. In addition, Capital One won’t hike up your APR if you pay your bill late, nor will it charge you a fee for returned payments.

Its other fees and penalties, however, are fairly standard when it comes to secured cards. Besides the aforementioned APR – which could quickly drive up your overall balance if you fail to pay off your card in full every month – making a late payment will cost you up to $40, whereas taking a cash advance will subject you to a fee of $10 or 3 percent, whichever is greater. Save yourself the extra cash by keeping current on all payments and avoiding cash advances.

Secured Mastercard from Capital One benefits

The Secured Mastercard from Capital One comes with fairly standard benefits for a card of its class, including $0 fraud liability should your card be lost or stolen, emergency card services (which gets you an emergency card replacement and, depending on your available credit, a cash advance) if you card is lost or stolen, and assistance should you become the victim of identity theft.

Approval odds

Although no secured credit card offers guaranteed approval, you’ve got a pretty good chance of qualifying for the Secured Mastercard from Capital One thanks to its required security deposit, which reduces the risk of you defaulting on payments in case you charge more than you can afford to repay. Even if you’ve defaulted on another loan or credit card in the past – or have been turned down for credit recently – you’re still eligible to apply and will likely be approved.

That said, you do need to be at least 18 with a valid checking or savings account. Plus, your monthly income must exceed your monthly rent or mortgage payment by at least $425, otherwise Capital One considers you unable to make your regular credit card payments. A non-discharged bankruptcy could also cause you to be declined.

Secured Mastercard from Capital One vs. Capital One Platinum Credit Card

Another Capital One credit-building option is the Capital One Platinum Credit Card, a no-annual-fee card geared toward consumers with average credit or better (a FICO score of 580 or higher).

Unlike the Capital One Secured Mastercard, the Capital One Platinum is an unsecured credit card, so it doesn’t require you to put down a security deposit. This could be a big advantage if you’re short on cash or don’t want to tie up money in a deposit while you work on your credit. On the other hand, since it’s an unsecured card, the Capital One Platinum will likely start you out with a very small credit limit, which could make it more difficult to maintain low credit utilization.

While both cards can help you build your credit with responsible use, which is best for you will depend on your financial situation and habits. Here’s a side-by-side comparison to help you decide.

CardCard typeCredit limitAnnual fee
Secured Mastercard from Capital OneSecured. Some users report success in graduating to an unsecured card$200-$1,000 (depending on your deposit)$0
Capital One Platinum Credit CardUnsecured. No deposit required.See terms$0

Why get the Secured Mastercard from Capital One:

  • You’re looking for a card to help build or rebuild your credit with responsible use.
  • You can afford at least a $49 security deposit.
  • You’re looking for a card with a low barrier to entry.
  • You’re less concerned about earning rewards than you are about increasing your credit score.
  • You want a card with access to a higher credit line if you make timely payments.
  • You don’t plan to carry a balance from month to month.

How to use the Secured Mastercard from Capital One:

  • Make all payments on time to avoid incurring penalty fees (not to mention a hit to your credit report). Consider signing up for autopay so you don’t forget. Making timely payments is one of the best ways to establish a healthy credit history.
  • Consider increasing your initial credit line by making a higher-than-required security deposit. Doing so can help improve your credit utilization ratio, another major factor in your overall credit score.
  • Avoid taking cash advances, the fees for which can quickly increase your total amount owed.
  • Pay your regular balance in full every month to avoid accruing higher-than-average interest charges. Not to mention, carrying a balance can make it more difficult to demonstrate your reliability to card issuers.

Expert verdict

We asked credit-building expert Ana Staples, a former Capital One secured cardmember, what she thought of the card. Here’s her take: “The Secured Card from Capital One was my number one tool for credit rebuilding. I received two automatic credit limit increases and after a couple of years with the card graduated to my first rewards card, the Capital One Quicksilver. I was really grateful for this card. No frills there, but it’s convenient, doesn’t have any predatory fees and does its job.”

Our reviews and best card recommendations are based on an objective rating process and are not driven by advertising dollars. However, we do receive compensation when you click on links to products from our partners. Learn more about our advertising policy

All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.

Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. It is not our partner’s responsibility to ensure all posts or questions are answered.

Partner Offer: carefully review product terms on Capital One's site before applying

Apply now