Capital One Platinum Secured: How to Apply

Por Tassio Oliveira • atualizado há 3 weeks atrás

Learn how the Capital One Platinum Secured works and how to apply for it, an ideal card for building credit with no annual fee.

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Getting a credit card can be a major challenge for those with a limited or poor credit history. Many banks reject applications due to a low credit score, making access to credit difficult. Fortunately, there are solutions to this issue, such as secured credit cards, which require a security deposit to grant a credit limit.

The Capital One Platinum Secured is one of these options, offering a safe and accessible way to build or rebuild credit in the U.S. Unlike other secured cards, it allows you to have an initial limit higher than the deposit made, in addition to not charging an annual fee. But is this card worth it? How does it work? And how can you apply? Stay with us to explore everything you need to know!


Capital One Platinum Secure
No annual fee
Credit score boost
Refundable deposit

Main Benefits

  • Helps build credit: Reports your usage to the three major credit bureaus in the U.S. (Equifax, Experian, and TransUnion).
  • No annual fee: Unlike many secured cards, the Capital One Platinum Secured does not charge an annual fee.
  • Affordable deposit: Depending on your credit analysis, your initial deposit may be $49, $99, or $200.
  • Possibility of credit limit increase: After a period of responsible use, Capital One may increase your limit without requiring a new deposit.
  • Free financial tools: Free credit monitoring through CreditWise.

How the Security Deposit Works

Unlike other secured cards, where the credit limit equals the deposit amount, the Capital One Platinum Secured offers a more flexible approach:

  • Your deposit can be $49, $99, or $200, depending on your credit analysis.
  • Your initial credit limit will be at least $200, and it may increase with responsible payments.
  • The deposit is refundable if you close the account in good standing or qualify for an upgrade.

Fees and Interest Rates

  • Annual Fee: $0
  • APR (Interest Rate): 30.74% variable (subject to market changes)
  • Foreign Transaction Fee: None
  • Late Payment Penalty: Up to $40

Approval Requirements

To apply for the Capital One Platinum Secured, you need to meet some basic criteria:

  • Be at least 18 years old.
  • Be a U.S. resident and have a Social Security Number (SSN).
  • Have sufficient income to cover your payments.
  • Not have an open Capital One card at the time of application.

Capital One may review your financial history and determine the required deposit based on your credit situation.

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