REVIEW: How to get a Capital One® Secured Mastercard® card rated for 5 star by Capital One Secured Card for our United States readers, especially for you at Louisiana, USA. Capital One Secured Card guide you to take control and build your credit with a Capital One Secured credit card.
REVIEW: How to get a Capital One® Secured Mastercard® card. Capital One secured card is one of the best secured cards available, offering low potential deposits and increased credit limits. Get this card if you want the opportunity to pay a low security deposit and get an increase in the credit limit after five months. Apply if you are rebuilding credit. You may have a higher chance of approval with credit or a new average.
A. Eligibility requirements
Usually, the amount you deposit for your secured card becomes your credit limit. With a Secured Mastercard® from Capital One®, you can receive a higher credit limit than you deposited. You can even see bumps to your credit line after only a few payments. These benefits make it easier to get a secured card - and finally switch to an insecure card.
Don't give up if you're not approved, because there are always other options to increase your credit. You might find it easier to get a store credit card or secure card without a credit check.
Capital One has been accredited with BBB (Better Business Bureau) and has an A+ rating from agencies. Indeed there are almost 5,000 customer complaints at the time of this writing, many of which the BBB report has been answered by Capital One or completed for customer satisfaction.
Capital One Secured Card Details:
- Product Name: Secured Mastercard® from Capital One®
- Card Type: Mastercard
- Annual Fee: $0
- April (Annual Percentage Rate) for Purchases: variable 26.99%
- April Purchase Introduction: N / A
- April Balance Transfer: variable 26.99%
- April Transfer Balance: N / A
- Cash Withdrawal Rate: variable 26.99%
- Cash Withdrawal Fee: $10 or 3% of the total cash withdrawal, whichever is greater
- Interest Free Period: Up to 25 days
- Late Payment Fee: Up to $38
Capital One® Secured Mastercard® card
Application Requirements:
If you are ready to apply for a Secured® MasterCard from Capital One®, check whether you have the information and funds needed for the security deposit.A. Eligibility requirements
- You are at least 18 years old.
- You have a checking or savings account.
- You have addresses in 50 United States, Washington, DC or US military locations.
- Your monthly income exceeds the monthly rent or your mortgage payment is at least $425.
- Your name, date of birth and citizenship status.
- Your Social Security Number.
- Your address.
- Your main email address and telephone number.
- Financial information such as your employment status, total annual income and monthly rent or mortgage payments.
Basic of Capital One Secured Card
The Capital One® Secured Mastercard® is one of the easiest cards to use because it focuses on the basics. There are no annual fees, but more importantly, this breaks down barriers that often make secured cards frustrating.Usually, the amount you deposit for your secured card becomes your credit limit. With a Secured Mastercard® from Capital One®, you can receive a higher credit limit than you deposited. You can even see bumps to your credit line after only a few payments. These benefits make it easier to get a secured card - and finally switch to an insecure card.
The Perks of Capital One Secured Card
- There are no annual fees. You must place a deposit for this card, so you should not pay additional fees.
- Opportunities to deposit less than $200. With most secured credit cards, your credit limit is the same as your security deposit. For a Secured Mastercard® from Capital One®, you only need to deposit $49 or $99 and still get a $200 credit limit. However, this is not a guarantee - depending on your credit history and information on your application, you may be required to deposit a $deposit 200. If you want a higher credit limit, you can deposit more - up to a maximum of $1,000.
- Higher credit limits with responsible use. If you make the first five monthly payments on time, Capital One raises your credit limit. You don't need to make additional deposits to get this increase. This is another excitement that separates Secured Mastercard® from Capital One®. This gives you more freedom precisely where the secured cards tend to limit.
You will also like it
- There is no balance transfer fee. You can make balance transfers at no charge. Nevertheless, this credit card may not be the cheapest way to transfer balances with high APR for call balances.
- Buy benefits. You can receive a range of consumer benefits when you make a purchase with this card. Buy items with your Secured Mastercard® from Capital One® to receive additional guarantees and price protection, which will return your money if you find a lower price on goods that meet the requirements you have purchased with your card.
- Benefits of travel. Pay your rental car with your MasterCard Secured® from Capital One® and get free protection against collisions or theft. Pay your travel costs with your card and get free travel accident insurance. You can rely on Travel Assistance Services when you travel 50 miles or more from home. Mastercard will connect you with the professional services and emergency needed. And, if your credit card is lost or stolen, Mastercard will send cash and replacement emergency cards to you. Finally, you can contact the 24-hour Mastercard roadside assistance when you are in an emergency.
What must be considered
- A security deposit is required. Because this is a secured card, you must place a security deposit before you can use your account. This is different from an unsecured card, which does not require a deposit.
- High Apr. The Secured Mastercard® from Capital One® is equipped with April for all variable balances of 26.99%. That's a high rate considering April averages around 16%, but it's not unusual among secured cards. Consider paying off your balance fully every month. This will make you avoid high interest, and that will make you ready for good credit habits.
What credit score do I need?
Capital One recommends this card to those who rebuild their credit. Usually, providers are more willing to accept customers with average or no credit. The higher your credit score, the higher your chances of getting approval.Don't give up if you're not approved, because there are always other options to increase your credit. You might find it easier to get a store credit card or secure card without a credit check.
See what customers say about Secured Mastercard® from Capital One®
Many cardholders say they have received a $200 credit limit with a lower deposit amount, and customers say their credit score has increased since getting a card. Some reviewers recommend paying off your balance every month to avoid interest costs.Capital One has been accredited with BBB (Better Business Bureau) and has an A+ rating from agencies. Indeed there are almost 5,000 customer complaints at the time of this writing, many of which the BBB report has been answered by Capital One or completed for customer satisfaction.
How to apply for the MasterCard Secured application from Capital One®
Go to the Capital One site and click on Apply now. Complete the application form with details such as your name, address, contact information, and financial information. Review your Capital One secured card application and send it.REVIEW: How to get a Capital One® Secured Mastercard® card.
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