The Capital One Platinum Secured Credit Card offers a reliable path to building or rebuilding your credit history with responsible use.
Designed specifically for those with limited or damaged credit, this card provides the opportunity to establish a positive credit record while enjoying the convenience and security of a major credit card.
FAQ
What credit score do I need to qualify? +
This card is designed for people with limited or damaged credit. Even those with past credit problems may be considered, though approval depends on multiple factors including income and existing debt.
How is my security deposit amount determined? +
Capital One will evaluate your application and assign a minimum security deposit of $49, $99, or $200 based on your creditworthiness. All three deposit amounts will give you an initial $200 credit line.
When do I get my security deposit back? +
Your security deposit is refundable when you close your account, as long as your balance is paid in full. You may also have your deposit refunded if Capital One upgrades you to an unsecured card based on responsible use.
How can I increase my credit limit? +
There are two ways: 1) Make a larger initial deposit before account opening (up to $1,000), or 2) Make on-time payments for at least 6 months, after which Capital One automatically considers you for a credit line increase.
Does this card have an annual fee? +
No, there is no annual fee for this card.
How quickly will this card help improve my credit? +
You may see your credit reports updated within 30-60 days after your first statement. However, significant credit score improvements typically take 6-12 months of responsible use.
Make payments on time, every time: Payment history accounts for 35% of your FICO score.
Keep your credit utilization low: Try to use less than 30% of your available credit.
Monitor your credit score: Use the free CreditWise® tool to track your progress.
Be patient: Credit building takes time, but consistent responsible behavior yields results.
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