The Review of Capital One Secured MasterCard to Get My Offer Com

Description: The article shows us Capital One secured MasterCard which can be applied by the person with less perfect credit history and less deposit. Master Card can also help offers to users to build credit with lower annual fee.

Willis here for your bad credit card problems and we are reviewing the Capital One secured MasterCard. This is a very popular secured credit card and the first thing you need to know is that this card is created for individuals with less perfect credit history.

The second thing you need to know is that this card will report your account to all three of the major credit bureaus regularly, this will give you the opportunity to build credit with responsible use.

The third thing we’re going to talk about is your deposit. Now your initial deposit is something used as the collateral to secure your account.

For example, if you default on your regular monthly payments or you stop making your payments, then the security deposit will be kept. In other words, your security deposit secures or guarantees that the banker and the credit card issuer know that they won’t lose money.

With the Capital One secured card, you can deposit as little as two hundred dollars, and have do up to three thousand dollars. The amount of your deposit will be equal to your credit limit. On a side note, on their application page, it currently says you can issue your credit card with a deposit for as little as forty nine dollars or ninety nine dollars.

We believe this has to do either with your credit rating which means you have a little bit better credit. You might have a smaller security deposit or your security deposit is paid over time.

The fourth thing is your annual percentage rate or your interest rate with Capital One. It is currently a 22.9%, that’s variable.

If you want the full updated terms and conditions, please check with Capital One credit cards regularly, change all the fine print, details, terms and conditions. So please see Capital One to get the full term conditions.

The fifth thing we’re going to mention is one of the neat features about the Capital One secured. MasterCard is with responsible use, you can get regular credit line increases without any additional deposits.

If you’re paying your bill every month and you have displayed responsible use, then you could get an increase to your credit line and they’re not going to ask you for any more deposit.

So you could have made a deposit for $200, and your credit limit is six hundred dollars. You didn’t have to give any more additional money for your deposit, but if you have responsible use you can get regular the credit line increases which is a unique feature.

The other thing we want to mention is that there is a $29 annual fee which is very low. It is the standard for secured credit cards to charge your annual fee. We believe the annual percentage rate is a little bit high, however Capital One is a name that you can trust. On a side note capital one recently purchased orchard bank.

In the orchard bank secured credit card which was a very popular secured credit card, so there are fewer options available. 22.9% is a little high, but Capital One have some nice features and they are a trustworthy brand, so you may want to consider that again, please visit their website for the full terms and conditions.

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