Capital one prepaid credit card

October 31, 4 min read.

It's especially true if you are a credit newcomer or you need to repair a bad credit score. Below, Select breaks down the rewards, benefits and fees associated with the Capital One Secured to help you decide if it's the right card for you. See rates and fees , terms apply. Traditionally, secured credit cards are for people who have no credit history or need to repair their credit score. The limits for secured credit cards are determined by the amount of money a cardholder puts down as a deposit.

Capital one prepaid credit card

With responsible card use, you could earn back your deposit and upgrade to a standard, unsecured Platinum card. No foreign transaction fees. No replacement card fees. No authorized user fees. Just the card you need with no unwanted surprises. We report to the three major credit bureaus. A history of responsible use could help you build credit. A security deposit helps to establish the credit limit on your Platinum Secured Credit Card. By using your card responsibly and making on-time payments, you may be able to improve your credit score and be considered for a credit line increase in as little as six months. There are three simple steps involved with making your security deposit:. With responsible card use, like making payments on time, you could earn back your deposit and upgrade to an unsecured Platinum card 1. Set up Autopay for your account and your payments will be made automatically every month. Learn more about setting up Autopay. Add an authorized user to your account, and track spending by user.

Get notified via text, email, and phone if Capital One notices potential suspicious transactions on your account. Plus, pay flexibly with your rewards, a card or both.

No Credit History. After 6 months with responsible use, you can be considered for a higher credit limit and start building credit with no additional deposit. See the rest of the best secured credit cards. Our take: The Capital One Platinum Secured Credit Card makes credit building a breeze with a low stakes collateral investment that allows cardholders to build credit with minimal commitment. See Rates and Fees. Read full review.

The card does not have an annual fee or foreign transaction fees see rates and fees but does not offer reward earnings or a sign-up bonus. You may have seen us rave about some of our favorite credit cards only to see the recommended credit score and feel dismayed that yours isn't there. But having little credit history or a low credit score doesn't shut you out of the world of credit cards. Sometimes, you just need to spend some time building or repairing your credit before you'll be eligible for the top rewards cards — and getting a secured credit card can help you get there. A secured credit card is geared toward those with little or low credit to build their credit score. With this type of credit card, you'll put down a security deposit, which typically determines your initial credit limit. You can usually get your deposit back after demonstrating good credit habits. Let's dive into the card details to help you decide if it's a good fit for you. Related: What is a good credit score?

Capital one prepaid credit card

Prepaid cards are a type of debit card that function much like gift cards. You buy one, load a desired amount of funds onto the card and use the card to make purchases. The best prepaid cards tout minimal fees, are widely accepted and allow you to reload funds in a variety of ways, including direct deposit, transfers from a checking or savings account and cash loads at participating retailers. The best prepaid cards tout minimal fees, are widely accepted and allow you to reload funds in a variety of ways, including direct deposit, transfers from a checking or savings account, and cash loads at participating retailers. The Self — Credit Builder Account offers the unique opportunity to grow your credit score by reporting spending habits to all three credit bureaus, which is quite useful as this account does not require any credit history. While you will not actually receive a card to swipe, the Self — Credit Builder Account functions more like a savings account, but with the ability to build credit. In fact, Self will set you up with a small loan with a regular APR of You can also add cash at more than , reload locations in the U.

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Redeem your cash back for any amount, anytime. Not bad Butterflyyy - February 22, Highlights No annual or hidden fees. No problems- Bananas - February 22, Security Alerts. If your card is lost or stolen, you will not be responsible for unauthorized charges. Related Content. That's well above the current average credit card interest rate , so you'll want to be careful to avoid carrying a balance — otherwise, you'll be on the hook for high interest charges. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Personal Loans for Bad credit. Major Purchase Loans. Follow Select. You can make your security deposit online or over the phone. Mortgage Refinance Rates.

With responsible card use, you could earn your deposit back and upgrade to an unsecured Quicksilver card.

How is the Capital One Secured different from other secured credit cards? Taxes Angle down icon An icon in the shape of an angle pointing down. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team. Rewards like cash back or miles may also be limited with secured cards. Credit Card Articles. I liked the use of card when i made a bought online or bought in store. They may even return your deposit. A secured credit card is a type of credit card that requires a security deposit to open the account. Pay for online purchases with virtual card numbers and keep your actual card number to yourself. The Capital One Platinum Secured Credit Card is the secured version of the card, and doesn't require as high a credit score — but you'll have to put down a security deposit as collateral. Before closing your account, be sure to understand how closing a secured credit card could affect your credit. For cardholders who are looking to rebuild credit, it's more important to practice good credit card habits — spending within your means, paying your balance on time and in full — than try to optimize your points balance. Prepaid cards can be used to make purchases as long as you hold a balance.