Capital One is one of the largest credit card issuers around. They offer a Secured Mastercard® that is suitable to applicants with bad credit, which means you can have a credit score of about 561 or higher, and you can use this card to build or rebuild your credit.
Secured Mastercard® from Capital One® Rates & Fees
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How to Apply for Secured Mastercard® from Capital One® Online
You can quickly apply for the Secured Mastercard® credit card online.
- To start, visit www.capitalone.com/credit-cards.
- Click “See All Cards” to compare all their cards.
- Find the Secured Mastercard® after you tick “Secured” in the Card Type section.
- Click the green “Apply Now” button under the Secured Mastercard® card.
- Enter your first and last name, your date of birth, and your Social Security number. Answer the question about your citizenship, and then enter your residential and mailing addresses.
- Provide your email address and your phone number. Select your employment status and enter your annual income, your monthly housing payment, what type of bank accounts you have, and whether you would like blank cash advance checks.
- Check the box agreeing to their Electronic Communications Disclosure.
- Click the “Continue” button and follow the prompts to finish your application.
Other Ways to Apply for Secured Mastercard® from Capital One® Credit Card
You can apply by phone by calling 1-800-695-55-00.
Capital One Customer Service
You can reach Capital One customer service by phone by calling 1-800-227-48-25. You can also write them at:
Attn: General Correspondence
P.O. Box 30285
Salt Lake City, UT, 84130-0287.
Secured Mastercard® from Capital One® Credit Card FAQs
What are the benefits of the Secured Mastercard® credit card?
The Secured credit card doesn’t offer a rewards program. However, it has no annual fee, and you can use this card to build your credit.
What is the APR for a Capital One credit card?
The APR varies depending on your credit and is based on the Prime Rate. It will be around 24.99 percent.
Is there an annual fee?
The Secured credit card has no annual fee.
Is there a late fee?
If your payment is late, you can be charged a fee of up to $38.
How long will it take to get my Capital One card?
If you applied for a secured card, it will take two to three weeks to receive your card.
Let’s assume the balance on your credit card is $5000, your card’s APR is 23%, and your minimum monthly payment in percentage is 100. Your first payment should be $100. Note that this number is expected to change over time.
To pay off your credit card balance in full, it will take you 2442 months. You’ll pay the overall interest of $99510.62. Your total payment will be $104510.62.
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