Platinum Secured from Capital One

Platinum Secured from Capital One Review

This is a secured credit card card issued by Capital One. If you're wondering whether Platinum Secured from Capital One is the right card for you, read on.

Key Takeaways

• High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 26.99%
• No annual fee. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
• No foreign transaction fee. This card does not charge a fee when you make a purchase that passes through a foreign bank, or is in a currency other than the U.S. dollar (USD), which makes it a great credit card to carry when traveling abroad.
• Secured card. This card requires a refundable deposit before you qualify for a line of credit. These cards are often used to improve the credit of people with poor credit or little credit history.
• Multiple credit card benefits. Includes generous credit card perks, such as Auto Rental Collision Damage Waiver, extended warranty protection on purchases, travel accident insurance, and fraud protection.
• Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still have relatively good approval odds.

Pros & Cons of Platinum Secured from Capital One

The Good	The Bad
No annual fee. Multiple credit card perks. Offers Auto Rental Collision Damage Waiver. Extended warranty on purchases. Travel accident insurance. Considers applicants with fair credit. No foreign transaction fee. Platinum Secured from Capital One reports to multiple credit bureaus.	Higher than average purchase APRs. Does not offer a signup bonus. Does not offer rewards or cash back. You don't earn rewards on every purchase.

Platinum Secured from Capital One FAQ

Does Platinum Secured from Capital One have a cash back or rewards program?

No, it does not offer a rewards program.

What are the Platinum Secured from Capital One benefits?

It provides the following benefits:

• Auto Rental Collision Damage Waiver
• Extended Warranty Protection
• Zero fraud liability
• Travel Accident Insurance
• Reports to major credit bureaus

What are the relevant APRs for Platinum Secured from Capital One?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has higher than average regular APRs.

Platinum Secured from Capital One has a variable purchase APR of 26.99%. The card has a variable balance transfer APR of 26.99% . It also has a variable cash advance APR of 26.99% .

What are the fees for Platinum Secured from Capital One?

The following fees apply:

Platinum Secured from Capital One Fees

Description
Cash Advance Fee Minimum	$10
Cash Advance Fee (%)	Up to 3%
Minimum Cash Advance Fee ($)	Starting at $10
Foreign Currency Transaction Fee	0%
No Annual Fee?
No Foreign Transaction Fee?
Annual Fee	$0
No Interest Grace Period for Late Payment	25 days
Late Fee Amount	Up to $40

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost card.

Does Platinum Secured from Capital One report your account activity to credit bureaus?

Yes, Platinum Secured from Capital One reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Platinum Secured from Capital One

• Visit the Platinum Secured from Capital One website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.