Does Capital One Secured Mastercard build credit?



Now, why would you want a secured credit card, you ask? Well, if you’re trying to build, rebuild, or establish your credit, this little gem can be a game-changer. By being responsible and using it wisely, you’ll be on your way to becoming a dream candidate for stuff like mortgages, car loans, and other credit cards!

And here’s the best part: you don’t need a credit score to apply for this bad boy. No more stressing about that! Plus, there are no sneaky annual fees or hidden charges to worry about. You’ll know if you’re approved in a jiffy!

Let’s talk about the deets:

  • You can start with a refundable security deposit as low as $49 and get an initial credit line of $200. Sweet deal, right?
  • Oh, and get this! If you use your card responsibly (read: pay on time), you could get back your security deposit as a statement credit. That’s like having your cake and eating it too!
  • Show some responsibility for just 6 months, and you might be eligible for a credit line increase without any extra deposits. It’s like a reward for being awesome!
  • Worried about fraud? Fear not! With $0 Fraud Liability, you’re not on the hook for any unauthorized charges. Safety first!

How to apply to Capital One Guaranteed Secured Mastercard?

Okay, now let’s get practical. How do you apply for the Capital One Guaranteed Secured Mastercard? Follow these simple steps:

  • Be at least 18 years old with a valid Social Security number or Individual Taxpayer Identification Number (ITIN). Oh, and you gotta have a physical U.S. address (sorry, no P.O. boxes).
  • Make sure you have enough annual income to meet the requirements. Capital One is looking for a monthly income that’s at least $425 more than your monthly housing payment. Show them the money!
  • Check your history with Capital One. If you’ve applied for a Capital One credit card in the past 30 days, sorry, but you’re out. The same goes if you’re behind on payments or maxed out on other Capital One credit cards.
  • So, there you have it! The Capital One Guaranteed Secured Mastercard is your ticket to building that credit and getting on the path to financial greatness. Go ahead and give it a shot – it might just be the best decision you’ll ever make for your wallet!