Capital One® Platinum Secured Credit Card: Comprehensive Review

Build credit with Capital One's Secured Card. There are no annual fees, flexible credit lines, or security deposit returns.

Capital One® Platinum Secured Credit Card: Comprehensive Review


  • Annual Percentage Rate (APR) for Purchases and Transfers: 29.99%, varying with the Prime Rate.
  • APR for Cash Advances: Also at 29.99%, varies with the Prime Rate.
  • Paying Interest: No interest on purchases if the balance is paid by the due date each month; interest accrues from the transaction date for cash advances.


  • Annual Fee: None.
  • Transaction Fees:
    • Balance Transfer: 4% on balances transferred at promotional APRs.
    • Cash Advance: Either $5 or 5% of the amount of each cash advance, whichever is greater.
  • Penalty Fees:
    • Late Payment: Up to $40.


  • No Annual Fee: Reduces cost for cardholders.
  • Flexible Credit Line: The initial credit line is $200, which can increase to $1,000.
  • Consideration for Higher Credit Line: A credit line increase could be made without an additional deposit after 6 months.
  • Security Deposit: Refundable, starting at $49 based on creditworthiness.


  • High APR: A fixed rate of 29.99% can be costly if balances are carried over.
  • Security Deposit Required: Though refundable, securing the credit line is necessary.

Product Summary

The Capital One® Platinum Secured Credit Card allows individuals with less-than-perfect credit to build or rebuild their credit history. With no annual fee and the potential for a higher credit line without an additional deposit after six months, it provides a viable tool for credit management under disciplined use. The card's high APR underscores the importance of paying balances in full each month to avoid significant interest charges.

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