Capital One Secured Credit Card | How to Apply |
Secured MasterCard from Capital One is one easy way to build credit, in that Capital One secured Credit Card offers a lot more benefits you can’t find in other secured credit cards. Come to think of it, you have a messed credit card history and poor credit score and you’ve been told it will take you years and a huge cash security deposit to rebuild your credit. All of that isn’t true.
With a refundable minimum security deposit of $49, $99, or $200 you’ll get an initial credit line of $200 and can as well pay by installment with the option to choose any date of the month convenient for you to pay.
More so, your credit limit also stands an increment chance within 6 months with zero percent annual and balance transfer fees.
What is Capital One Secured Credit Card?
To start with, a secured credit card is a type of credit card offered to customers with poor credit who has defaulted a loan more than once and have been declined credit card issuance in the past months. Capital One secure credit card is an easy alternative for such individuals to rebuild their credit and get back from being a poor credit cardholder or from rebuilding credit to average credit down to good credit, finally if responsibly managed and have shown discipline in managing their credit card over time will become an excellent credit.
However, capital one secured credit card is issued upon initial cash security deposit with a bank account you are an authorized user. The security deposit is usually a refundable paid as a bet in the event you default from paying your credit card bill.
Capital One Secured Credit Card Features
They are lots of reasons why cardholders looking to rebuild their credit turn to capital one secure credit card, some of which are the card features and benefits that aren’t made available by other secured credit card issuers. Let’s share with you some benefits and features of a secured credit card from Capital One;
- Capital One secured MasterCard requires no annual fee.
- 0% balance transfer fee.
- Zero percent international transaction fee.
- Enjoy email alerts notification of your card activities and transaction.
- Add an authorized user and track their spending through email alerts.
- Make payment through autopay every month when you set it up.
- Customer services support 24/7.
- In the event of a lost or stolen card, unauthorized transactions made within the period of lost or stolen aren’t billed to you.
- Access a higher credit line with no additional deposits after the first five monthly payments without payment default or late payment.
- Pay your bill, view your balance, and make transactions on the go with capital Mobile App.
- Earn cash back rewards, points, and miles.
- Get a warranty on items purchased with your capital one credit card without any further payment.
How to Apply – Capital One Secured Credit Card Application Procedures
If you have made up your mind to go for secured MasterCard from capital one, then you will need to make available the following details ready for the application process. First visit https://applynow.capitalone.com/?productId=9979 and key in the following required information, if your application is accepted and approved you will be mailed your credit card within 2 to 3 weeks after you’ve made a cash security deposit with an account you have authorized access to.
- Firstly, First Name & Last Name.
- Social Security Number.
- Date Of Birth.
- Also, Residential address, apt, suite
- Phone number
- Also, Email Address
- Employment status
- Annual income
- Monthly rent/mortgage
- Bank account details.
When you have duly supplied the required details in the appropriate field, you can hit the continue button and follow through the rest of the application process to complete your application.
To manage your card activity, transaction, balance transfer, and lot more other things you will need to login to the capital One MasterCard online management portal with your account credentials; username, and password. To do that visit the official capital one credit card site and tap on the login button and key in your account;
- And tap on the sign-in button.
Capital One secured MasterCard has a three activation process; telephone activation by calling the customers’ service support line, mail, and online activation which the instruction on how to activate your secured MasterCard from Capital one is enunciated below.
- Firstly, Visit the official Capital One credit card site.
- Tap on the login to access your online account.
- Also, When you are logged in, navigate to the activation section and tap the activation button.
- Lastly, Enter the required card details and click on activate.
Credit Card Payment – How to Make your Bill Payment with Secured Credit Card from Capital One
When your credit card bill payment period is due, you can make your payment online by logging in, also you can set auto-payment to make your monthly bill payment automatically without calling on your attention.
- Firstly, Visit the capital on one web page.
- Sign in with your login credentials.
- Lastly, Navigate to the bill payment section and follow the instructions to pay your bill.
Customer Care Support
You can contact a customer services representative, in the event you want further clarity before you can apply for secured MasterCard from capital one or for other necessary inquiries and assistance.
Conclusion on Capital One Secured Credit Card
Secured MasterCard offered by Capital One is a fast route to rebuilding your credit. Basically for people with limited or bad credit as a way to build good and healthy banking behavior to access a higher credit line. Just like other financial institutions that offer secured credit cards for rebuilding credit Applying for capital one secured MasterCard requires a cash security deposit from an authorized bank account of the credit card applicant.
However, the beauty of Secured credit card from capital one is that you don’t need to pay a cash security deposit equivalent to the credit limit you will be offered, customers can pay a refundable security deposit of $49, $99 or $200and gain an initial credit line of $200. Customers also stand the chance to receive a higher credit line additional deposit is made credit card is issued
What you don’t often see from other secured credit card issuers; customers can access a higher credit line with no additional deposits after making their first five monthly payments without any default or late payment experiences. You would also enjoy CreditWise to manage and monitor TransUnion VantageScore 3.0 credit score for free.