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Capital One Platinum Secured Credit Card review: is it worth it?

In today's article, you'll learn all about the Capital One Platinum Secured Credit Card. It's a great way to build or rebuild your credit, and you can increase your credit line!

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Capital One Platinum Secured Credit Card: enjoy its benefits without worrying about an annual fee

Secured Mastercard®️ credit card from Capital One
Check out this Capital One Platinum Secured Credit Card review. Source: Capital One.

With so many different credit card options, it can be hard to know which one is best for you. But don’t worry! In today’s article, we’re going to discuss the Capital One Platinum Secured Credit Card and why this product might just suit your needs perfectly.

Logo Capital One

Capital One Platinum Secured Credit Card

Learn how to apply for the Capital One Platinum Secured Credit Card and enjoy the benefits of a secured card without an annual fee.

This credit card is designed for people who are rebuilding their scores. It has several features that can make the process of building up balances more appealing. Want one? Check out the benefits below!

Capital One Platinum Secured Credit Card: how does it work?

When you need to rebuild your lost credit, the secured card is one of the best options on the market.

The guaranteed approval from banks and lenders means that they will take whatever security measures are necessary for them not only to approve but also to offer this product at low rates!

And we all know how important it is to trust our institutions and companies, which is why the Capital One credit card was created with these values.

It’s perfect for anyone who wants peace of mind when making purchases online or at stores!

This card doesn’t charge an annual fee and has many features that benefit people who want to build up their credit score.

Moreover, you can get $0 Fraud Liability and Emergency Card Replacement service!

Pros of the Capital One Platinum Secured

Young african american woman smiling happy holding smartphone and credit card at the city
Check out the card’s benefits. Source: Adobe Stock.

Take a closer look at the card’s pros!

No fees

Capital One Platinum Secured is an excellent example of how credit cards can be beneficial.

It does not charge an annual fee, nor does it have any purchase-related fees outside the country – making this card perfect for people who travel often!

Make your payments on time to increase your credit line

With the right strategy, you can increase your credit limit within just six months of using a card.

You need to make sure that there are no delays in payments and continue making them every month for this option!

Multiple personalized credit card offers

Applying won't hurt your credit score

You will be redirected to another website

Flexible security deposit

This credit card requires an initial refundable deposit. But that is common with most secured credit cards.

The good news is that it allows you to make smaller deposits and still be approved for an account: $49, $99 or $200 minimum refundable deposit.

Cons of the Capital One Platinum Secured Credit Card

While it has many benefits, there are also some drawbacks to be aware of. So that a look at them and decide if the card is still worth it!

High APR

The Capital One Platinum Secured Credit Card also charges an interest rate considered high on purchases with this product.

The card has a current APR of 30.74% variable, which is variable for purchases and balance transfers. There’s no zero introductory period either.

Balance Transfer Fee: $0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you.

The APR for cash advances also falls into 30.74%, and the cash advance fee is either $5 or 5% of the amount of each cash advance, whichever is greater.

No rewards or bonuses

Like most secured cards, the Capital One Platinum Secured does not offer rewards, cash back, or bonuses to its cardholders.

Moreover, you’ll need to pay a 3% fee of the amount of the cash advance, but not less than $3.

Capital One Platinum Secured Credit Card application: how to do it?

So, the Capital One Platinum Secured is one of the most interesting options for people who are having trouble getting a credit line and need to increase their score.

With this product, you can enjoy all the benefits of using a credit card without incurring any financial risk. The requirements for entry are very flexible, and there is no need to make an upfront deposit that will be difficult on your budget!

If you want to enjoy all the benefits this secured card offers, click on the following link to learn more about the application process.

Logo Capital One

Capital One Platinum Secured Credit Card

Learn how to apply for the Capital One Platinum Secured Credit Card and enjoy the benefits of a secured card without an annual fee.

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

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