Capital One Secured MasterCard Review | FAQ 2020 | Credit Card Villa

Capital One Secured MasterCard Review and rates have been elaborated here. See Secured Mastercard from Capital one and FAQ with an annual fee of $0.

More Credit Cards

Capital One Secured MasterCard Review

Most credit card do not accept applications from people with bad credit rating or a poor credit history.

Image Copyright – Capital One

In fact it is well documented that those with low credit rating are bad for business.

The reason why most of the people with bad credit rating are considered bad for business is because; most of them became credit unworthy due to irresponsibility in spending and their inability to redeem their debt.

Although Capital One Secured Mastercard does not have any significant rewards, bonuses or points earning system.

It was design to help individuals fix their credit problems, it counts for more due to it’s acceptability of those with bad or poor credit rating.

The low credit deposit accepted on Capital One Secured Mastercard makes it more rewarding.

Likewise the fees to paid, interests charged as well as the period of repayments makes it a credit card for customer who wants to repair their credit history.

In the end, Capital One Secured Mastercard is for credit building and has remain one of the most preferred option for consumers.

Rates & Fees

Possible fees to be paid in interest rate charges and fees:

  • Annual Fee – is $0
  • Transfer fee in percentage is – 24.44%
  • Security Deposit or Refundable deposit – $49, $99 or $200

Capital One Secured Mastercard Details

Here are some facts about this credit card and all you need to know, especially if you are interested in having one soon.

  • Card holders have the option of starting their credit line with just $200 after an initial deposit of $49, $99 or $200 (Check terms and condition for more).
  • Access higher credit limit if they are consistent in their payment for a period of at least 5 months, at this stage you will an additional deposit will not be required from you.
  • Card holders can actually building their credit rating by responsible credit card use and a constant reporting to three credit bureaus
  • Both new and old card holders are not subjected to annual fee payments
  • The Capital One Secured Mastercard is accepted at major location around the world
  • This Secured Mastercard account is easy to use and manage, account owners can access their account at anytime, anyplace or anywhere.

How to Apply?

Below is a simplified way of applying for this credit credit.

  1. Visit the official Capital One Secured Mastercard application page by clicking here.
  2. Once on the page, fill in the application form with the below listed sections.
  • Personal data – These includes the applicants Names, date of birth, MI information, social security number, confirmation of your citizenship
  • Contact data – this includes Residential address, email address, work place address, phone number.
  • Financial data – This includes Account type, annual income, alternative income source, employment information, rent and mortgage
  • Additional information – This section cover for the applicants preferred language option.
  • Scroll down and click on continue

Note – P.O box address are not required, email address submitted will be used for communicating.

Capital One Secured MasterCard FAQ

What is Capital One Secured Mastercard grace period?

The grace period for the Secured Mastercard from Capital one is 25–55 days. These are the grace period you need to know.

How much is the credit limit for Capital One Secured Mastercard?

After activation, you can deposit to the tone of $1,000. You can make deposit online or via a fund transfer from your bank account. As at the time of writing this, Cash and checks are not accepted – Likewise other fund transfer method except the above stated.

Need Help? Contact Customer Care Service

You can contact the desired customer care representatives on 1-800-219-7931 if you run into any issues with the Capital One Secured MasterCard.

Video Copyright – Capital One (YouTube)