![]() The is best for those who have bad credit. This is a variable rate that can change with the Prime Rate. However, the card charges a balance transfer fee of and a cash advance fee of. You also won’t be responsible for unauthorized charges if your card is lost or stolen. The has a annual fee, foreign transaction fees, replacement card fees, or authorized user fees. You can even monitor your credit with CreditWise, which is free and won’t hurt your credit score. ![]() Capital One provides the ability to set up account alerts, security alerts, autopay, or to add an authorized user to your account. However, there are some benefits that Capital One provides to its Platinum Secured cardholders. Like many secured cards, the doesn’t offer rewards like cash back, points or miles. Cardholders can also be automatically considered for a higher credit line in as little as six months. Responsible card use primarily means making your payments on-time, and controlling your debt. You can earn your security deposit back and upgrade your card to an unsecured Capital One Platinum card with responsible card use. You can increase your initial credit limit up to $1,000 if you deposit more than the minimum before activating your card. And regardless of the amount of your security deposit, your initial credit line amount will be $200. You can pay your minimum security deposit in installments over the first 35 days after being approved, which is fairly unique for a secured card. The amount of your security deposit may be $49, $99 or $200. The maximum initial credit limit is $1,000 after making a higher security deposit.The card does not earn rewards, including cash back, points or miles.A minimum security deposit is required to open the account.The APR for this card is pretty high at.You can pay your minimum security deposit in installments over the first 35 days.This card does not charge foreign transaction fees, replacement card fees, or authorized user fees.Authorized user fee: None charged for this card.īefore applying to the, you should weigh its pros and cons to see if this card is the right fit for you.Replacement card fee: None charged for this card.Security Deposit: Refundable $49, 99 or $200 minimum deposit.The APR for this credit card is, and there is a annual fee. Uniquely, you can pay your security deposit in installments over the first 35 days after being approved. The does require a refundable security deposit of either $49, $99, or $200, which you can earn back through responsible card use. Capital One can upgrade your card to an unsecured Capital One Platinum card after responsible card use. Secured cards work much like standard, unsecured cards, except that they require the payment of a refundable security deposit before an account can be opened. The offers a way for those with bad credit to work on rebuilding their credit through responsible credit card use.
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