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Card reviewCapital One
Updated Apr 14, 2026 · research
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Capital OneEditorially reviewed

Capital One Platinum Secured Credit Card

A secured credit card from Capital One designed to help build or rebuild credit with no annual fee and a refundable security deposit.

Entry LevelPersonal
Mastercard
Credit profile: poor
$0
Annual fee
—
Top rate
None
Foreign fee
N/A
Rating
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Pros & Cons

Pros

  • No annual fee keeps the cost of building credit low
  • Refundable security deposit as low as $49 for qualified applicants
  • Automatic credit line review in as little as 6 months with no extra deposit required
  • Reports to all three major credit bureaus to help build a full credit profile
  • No foreign transaction fees for international use

Cons

  • High fixed APR of 29.99% makes carrying a balance costly
  • Initial credit line is only $200, which limits purchasing power
  • No rewards or cash back program
  • Not everyone qualifies for the lowest $49 deposit; some must deposit the full $200
  • Credit line increase is not guaranteed even after the 6-month review

Key Takeaways

  • No annual fee makes this one of the lower-cost secured card options available
  • The refundable deposit ranges from $49 to $200 based on creditworthiness, always yielding a $200 credit line
  • Automatic credit line reviews begin as early as 6 months with no additional deposit needed
  • Full reporting to all three credit bureaus supports broad credit file building
  • No rewards program means the card is purely a credit-building tool, not a spending optimizer

Fees

Fee TypeAmount
Annual Fee$0
Foreign Transaction Fee0%

APR Information

Purchase APR
29.99%

APRs shown are variable and may change based on the Prime Rate. Your actual APR will be determined based on your creditworthiness.

Card Benefits

4 benefits

Lifestyle Benefits

Coverage Tier Legend

Best in ClassIndustry-leading coverage
StrongAbove average
StandardTypical coverage
LimitedBelow average

Hidden Gems

Low Entry Deposit Option

Qualified applicants may only need to put down $49 to open the account, which is notably lower than the $200 deposit most secured cards require. This can make the card more accessible for those with limited cash on hand.

No Foreign Transaction Fees on a Secured Card

It is uncommon for secured, entry-level credit cards to waive foreign transaction fees entirely. This card does so, making it usable for international travel or online purchases in foreign currencies without extra costs.

Automatic Credit Line Review Requires No Application

Many cardholders are unaware that the credit line review at 6 months is automatic and requires no action on their part. There is no hard inquiry or new application, removing a common barrier to accessing a higher limit.

Frequently Asked Questions

What is the security deposit required for the Capital One Platinum Secured Credit Card?
The security deposit can be $49, $99, or $200 depending on your creditworthiness at the time of approval. All deposit amounts result in a $200 initial credit line. The deposit is refundable when you upgrade or close the account in good standing.
Does this card have an annual fee?
No, the Capital One Platinum Secured Credit Card has no annual fee. This makes it a low-cost option for those focused on building credit without taking on additional recurring charges.
What is the APR on this card?
The card carries a fixed purchase APR of 29.99%. Carrying a balance from month to month will result in interest charges at this rate, so paying the full statement balance each month is advisable.
Does this card report to all three credit bureaus?
Yes, Capital One reports your payment history and credit utilization to Equifax, Experian, and TransUnion each month. This full reporting helps you build a credit file with all major bureaus, but late or missed payments will also be reported negatively.
Can I get a credit line increase without putting down more money?
Yes. Capital One automatically reviews your account for a credit line increase in as little as 6 months of responsible use. No additional security deposit is required, and no separate application is needed for the review.
Are there foreign transaction fees on this card?
No, the Capital One Platinum Secured Credit Card charges no foreign transaction fees. This makes it usable abroad without incurring extra charges on international purchases.
Does this card earn cash back or rewards?
The Capital One Platinum Secured Credit Card is not structured as a rewards card. Its primary purpose is to help cardholders build or rebuild credit rather than earn points or cash back on purchases.
What is CreditWise and is it free?
CreditWise is Capital One's free credit monitoring tool that lets you track your VantageScore 3.0 from TransUnion and monitor your credit report. It is available at no cost to all Capital One cardholders. Note that CreditWise uses VantageScore 3.0, which may differ from scores lenders use when making credit decisions.
Who is this card designed for?
The Capital One Platinum Secured Credit Card is designed for individuals with poor or limited credit who are looking to establish or rebuild their credit history. It is a personal card intended for entry-level credit users, not business applicants.
Is the security deposit refundable?
Yes, the security deposit is fully refundable. You will receive it back when you upgrade your account or close it in good standing.

About This Card

This card is best for individuals with poor credit or a thin credit file who want a no-annual-fee secured card to establish or rebuild their credit history. It suits those who can pay their balance in full each month to avoid the high APR.

The Capital One Platinum Secured Credit Card is designed for individuals looking to build or rebuild their credit. It requires a refundable security deposit and has no annual fee. Cardholders are automatically considered for a higher credit line in as little as 6 months with responsible use. There are no foreign transaction fees. The card reports to all three major credit bureaus, helping cardholders establish a positive credit history.

The card's potential $49 minimum deposit is lower than most secured card competitors, and the automatic 6-month credit line review with no extra deposit requirement gives it a clear structural advantage for cardholders focused on graduating to unsecured credit.

Ready to Decide?

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Card Categories

SecuredCredit BuildingNo Annual Fee

Sources & Methodology

Data Collection

We collect card details from official issuer pages, then verify them through editorial review.

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Pending editorial review.

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