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Capital One Platinum Secured Credit Card — Full Review [2024]

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Jarrod West

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Boasting a portfolio of over 20 cards, Jarrod has been an expert in the points and miles space for over 6 years. He earns and redeems over 1 million points per year and his work has been featured in o...
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Michael Y. Park is a journalist living in New York City. He’s traveled through Afghanistan disguised as a Hazara Shi’ite, slept with polar bears on the Canadian tundra, picnicked with the king and que...
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Capital One Platinum Secured Credit Card
Terms Apply / Rates & Fees

Capital One Platinum Secured Credit Card

U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
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Learn More(at Capital One's secure site)

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  • $0

  • 29.99% (Variable)

  • Bad (300-579)

Capital One Platinum Secured Credit Card

The Capital One Platinum Secured card helps you build or rebuild your credit score with tis credit builder perks.

U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
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Learn More(at Capital One's secure site)
Summary

The Capital One Platinum Secured Credit Card gives you the tools to control and build your credit with responsible use.

Card Details

Card Snapshot

Welcome Bonus & Info

  • No annual or hidden fees. See if you're approved in seconds
  • Building your credit? Using the Capital One Platinum Secured card responsibly could help
  • Put down a refundable security deposit starting at $49 to get a $200 initial credit line
  • You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
  • Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
  • Monitor your credit score with CreditWise from Capital One. It's free for everyone
  • Get access to your account 24 hours a day, 7 days a week with online banking to access your account from your desktop or smartphone, with Capital One's mobile app

Card Categories

Pros & Cons

Pros

  • Automatic credit line reviews
  • Raise your credit limit with a larger deposit
  • No foreign transaction fees (rates & fees)

Cons

  • Does not earn rewards
  • Requires a security deposit

Upgraded Points: Expertise You Can Trust

Our seasoned and experienced team brings years of expertise in the credit card and travel sectors. Committed to integrity, we offer data-driven guides to help you find the card(s) that best fit your requirements. See details on our intensive editorial policies and card rating methodologies.

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    The U.P. Rating System

    The ratings for these cards have been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
    ” System
  • 1094+ Expert Credit Card Guides

Great Card If

  • You are looking to build or repair your credit score.

Don’t Get If

  • You already have a good credit score and are eligible for cards that earn rewards.

Capital One Platinum Secured Card — Is It Worth It?

The Capital One Platinum Secured card could be worthwhile for those looking to build or rebuild their credit. It offers a solid list of credit-builder tools, including refundable security deposits, automatic credit line reviews, upgrades to an unsecured card, credit monitoring, and more.

Capital One Platinum Secured Card Top Benefits

Here is a look at some of the best benefits and perks of the Capital One Platinum Secured card:

  • Increase your credit line by depositing more than the minimum amount, up to a $1,000 credit limit
  • Automatic credit line reviews in as little as 6 months
  • 50% off handcrafted beverages at Capital One Cafes
  • No foreign transaction fees (rates & fees)

Alternative Cards to the Capital One Platinum Secured Card

Capital One Quicksilver Secured Cash Rewards Credit Card

For those who are in need of a secured credit card but still want to earn rewards for their purchases, the Capital One Quicksilver Secured card is a great option. Though it does require a refundable $200 minimum deposit, you earn an uncapped 1.5% cash-back on all purchases made with the card.

» Related: The 15 Best Secured Credit Cards For Those With Bad Credit [or No Credit]

Chime Credit Builder Secured Visa® Credit Card

The Chime Credit Builder Secured card is another compelling option, given that it does not charge an annual fee, requires no credit check to apply, and does not require a minimum security deposit.

The information regarding the Capital One Quicksilver Secured Cash Rewards Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Chime Credit Builder Secured Visa® Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

Frequently Asked Questions

What is the credit limit of the Capital One Platinum Secured card?

The initial credit limit is set at $200, though you can increase your credit limit by submitting a larger security deposit, up to a maximum of $1,000.

What credit score do you need to be approved for the Capital One Platinum Secured card?

The Capital One Platinum Secured card is tailored to those looking to build or rebuild their credit, so you don’t need an exceptionally high credit score in order to be approved for the card. That said, depending on how low your credit score is, you might have to submit a larger security deposit in order to be approved.

What is the Capital One Platinum Secured card security deposit?

The security deposit of the Capital One Platinum Secured card is $49, $99, or $200, depending on your credit risk profile. However, no matter how large of a security deposit you are required to put down, this amount is fully refundable.

What is a secured credit card?

A secured credit card is tailored toward people trying to build or rebuild their credit. It requires you to put down a security deposit when you are approved for the card. These cards also usually have relatively low credit limits. The security deposit is held as collateral while the account remains open.

If you use your card responsibly and make your payments on time, you can upgrade your card to an unsecured credit card, and your security deposit will be refunded to you.

Is a secured credit card the same as a prepaid card?

Secured credit cards report to all 3 credit bureaus and thus help you build your credit score. Most prepaid cards function like debit cards and do not help you build your credit score.

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About Jarrod West

Boasting a portfolio of over 20 cards, Jarrod has been an expert in the points and miles space for over 6 years. He earns and redeems over 1 million points per year and his work has been featured in outlets like The New York Times.

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