If you have a bad credit score
You can get a secured MasterCard credit card from Capital One even if you have a bad credit score.
If you have a bad credit score (FICO below 550) you are likely to be declined when you apply for a normal non-secured credit card. This can be a significant problem for a young person who needs to recover and build up their credit score for the future, because the way you build your credit score up is by having access to credit and using it in a responsible manner. Simply not using credit is rarely enough to “heal” a bad credit score caused by defaulting on more than one loan in the past.
This is where a secured credit card – such as the Secured MasterCard from Capital One – can be of great value. To get a Secured MasterCard from Capital One you must provide collateral by making a deposit ($49 or $99 or $200) that will be held by Capital One.
You are likely to be approved for a Secured MasterCard from Capital One even with a bad credit history, and you can use your secured credit card to gradually build up your credit score. This will not only be of value when you apply for a standard non-secured credit card in the future, but also if you ever want to take out some other form of loan, such as a home mortgage loan.
The secured MasterCard from Capital One is issued by Capital One Financial Corporation.
You need to make a deposit, since this is a secured credit card.
This information was obtained in 2016 and concerns the U.S. market. It is always a good idea to visit the Capital One site to make sure you get the latest updates before you make any decision.
|Regular APR||Variable: 21.49% + Prime Rate|
|Intro APR purchases||No intro offer|
|Intro term purchases||No intro offer|
|Intro APR balance transfers||No intro offer|
|Intro term balance transfers||No intro offer|
This credit card is issued by Capital One Financial Corporation. This is a company that specializes in banking, savings and credits/loans in the United States. Among their products are various credit cards, auto loans and home mortgage loans. There are roughly 2,000 Capital One ATMs in the United States.
The history of Capital One Financial Corporation goes back to 1995, when Signet Financial Corp spun off its credit card division.
Capital One Financial Corporation is listed (as COF) on NYSE and is included in the S&P 500 Component stock index.