Capital One Platinum Secured Credit Card Review [2025]: A Simple Card for Building Credit

Card basics

Who should get the Capital One Platinum Secured Credit Card?

The Capital One Platinum Secured is a great card to start with if you need to rebuild your credit profile after some missteps. A secured credit card is a credit card that's "secured" through an upfront deposit by the credit cardholder.

This means the bank feels safe in allowing you to make purchases with your credit line because it's holding an amount of your money as a guarantee. If you don't pay a bill, it already has that deposit to repay the debt you owe.

Secured credit cards are great for people who want the spending flexibility of a credit card, but who also need to raise their credit score. Whether or not this particular card is right for you depends on how much of an initial deposit you're able to make and how much credit you need.

The Capital One Platinum Secured offers three tiers of initial deposit: $49, $99, or $200. You can make this deposit all at once or pay over the course of 35 days from your date of approval. Regardless of which deposit amount is made, you'll be granted an initial $200 line of credit, meaning you can spend up to that amount on the card.

You could also opt to make an initial deposit greater than $200 and get a higher line of credit as a result, but you'll be limited to a maximum deposit and credit line of $1,000.

If you then practice responsible spending and pay your statements on time, you could be eligible for an increase to your line of credit after six months and then, eventually, a refund of your deposit and an upgrade to an unsecured card.

Capital One Platinum Secured benefits and perks

• Access to a higher credit line: You will be considered for an increased credit limit with no additional deposit required in as few as six months after account opening.
• No annual fee: The Capital One Platinum Secured has a $0 annual fee.
• No foreign transaction fees: Some credit cards incur foreign transaction fees when you use them overseas. However, the Capital One Platinum Secured has none of these charges. So if you're traveling outside of the United States, you can spend without fear of extra charges.
• Credit report alerts: You get credit report alerts with Creditwise when your Experian or Transunion report changes.
• Fraud liability: If your card is lost or stolen, you're protected by $0 fraud liability.

Drawbacks of this card

• No rewards program: Like many secured credit cards, the Capital One Platinum Secured does not earn points or cash rewards. Those looking for a rewards credit card might want to consider another option.
• High APR: This card's regular variable APR is 29.74% (variable) on purchases and balance transfers (with a balance transfer fee of 4% during any promotional APR offer; none when transferred at the regular APR). It doesn't offer an intro APR period for either purchases or balance transfers, but paying off your balance in full each month can help you avoid high interest charges.
• Security deposit required: The Capital One Platinum Secured requires a refundable security deposit, which is common with other secured credit cards, too. Cardmembers will be required to deposit either $49, $99, or $200.

Other cards to consider

If the Capital One Platinum Secured Credit Card doesn't seem like the best credit card for you, there are a few other options to consider.

OpenSky^® Secured Visa^® Credit Card

The OpenSky^® Secured Visa^® Credit Card may be a great option for someone who has less-than-perfect credit or needs a credit card after declaring bankruptcy. With this card, you have the ability to choose your own credit limit — from $200 to $3,000. However, it does come with an annual fee of $35.

Read our OpenSky Secured Visa review.

Citi^® Secured Mastercard^®

The $0-annual-fee Citi^® Secured Mastercard^® could also be worth considering if your building credit is your goal. It offers flexible payment dates and free access to your FICO credit score. You'll also get other perks like identity theft protection and $0 fraud liability if your card is lost or stolen.

Read our Citi Secured Mastercard review.

FAQs

Bottom line

The Platinum Secured Credit Card from Capital One is a solid choice for those looking to gently enter the building or rebuilding stage of their credit journey. The fact that you'll get a $200 line of credit minimum regardless of your initial security deposit is nice, but the $1,000 cap on potential credit is a bit low.

That may be a good thing, though, if you're hoping to establish responsible credit card habits — it prevents cardholders from digging too deep a hole when it comes to spending. The $0 annual fee is great, but the card's lack of rewards earning potential and other perks may make it less appealing.

Not all secured cards are quite so bare-bones, however. So for more options, including cards that do earn rewards, check out our list of the best secured credit cards.

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Current Offer

Earn 60,000 bonus miles after you make your first purchase and pay the annual fee in the first 90 days

Annual Fee

$99

Rewards Rate

2X miles per dollar spent on eligible American Airlines purchases, and 1X mile per dollar spent on all other purchases

Benefits and Drawbacks

Benefits

• Earn 60,000 bonus miles after you make your first purchase and pay the annual fee in the first 90 days
• 2X miles on eligible American Airlines purchases
• Intro APR on balance transfers
• In-flight savings options, first check bag free, preferred boarding
• No foreign transaction fees

Drawbacks

• Has annual fee
• Best for American Airlines travelers

Card Details

• Earn 60,000 bonus miles after you make your first purchase and pay the annual fee in the first 90 days
• 2X miles per dollar spent on eligible American Airlines purchases, and 1X mile per dollar spent on all other purchases
• Intro balance transfer 0% APR offer: 0% for 15 billing cycles (on balance transfers that post within 45 days of account opening) then 20.24% to 29.99% (variable)