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card_name is a secured credit card that can help rebuild your credit. To qualify, you need to make a minimum refundable security deposit of $49. The card offers free credit monitoring, and you can be considered for a credit line increase within six months if you use your card responsibly. While it charges $0 annual and foreign transaction fees, it doesn’t offer rewards.
- No annual fee, and all the credit building benefits with responsible card use
- Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the three major credit bureaus
- You will get an initial $200 credit line after making a security deposit of $49, $99, or $200
- Be automatically considered for a higher credit line in as little as 6 months
- Easily manage your account 24/7 with online access, by phone or using our mobile app
- It's a credit card accepted at millions of locations worldwide
Pros
- Charges $0 annual fee
- Requires only a minimum security deposit of $49 to get a credit line of $200
- Offers installments for the security deposit
- Reports to the three major credit bureaus and helps build your credit
Cons
- Doesn’t offer 0% introductory annual percentage rate (APR) on purchases and balance transfers
- Requires a bank account to qualify
- Has no rewards for new and existing cardholders
- Review credit score via CreditWise®: Capital One offers unlimited access to CreditWise®, which lets you track your credit score in real time. Available for iOS and Android users, it will give you credit reports from TransUnion® or Experian® and personalized suggestions to help improve your credit score.
- $0 fraud liability: You won’t be held responsible for unauthorized charges if your card is lost or stolen.
- Emergency card replacement: If your card is lost or stolen, you can get an emergency replacement card.
- No annual fee, and all the credit building benefits with responsible card use
- Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the three major credit bureaus
- You will get an initial $200 credit line after making a security deposit of $49, $99, or $200
- Be automatically considered for a higher credit line in as little as 6 months
- Easily manage your account 24/7 with online access, by phone or using our mobile app
- It's a credit card accepted at millions of locations worldwide
Pros
- Charges $0 annual fee
- Requires only a minimum security deposit of $49 to get a credit line of $200
- Offers installments for the security deposit
- Reports to the three major credit bureaus and helps build your credit
Cons
- Doesn’t offer 0% introductory annual percentage rate (APR) on purchases and balance transfers
- Requires a bank account to qualify
- Has no rewards for new and existing cardholders
- Review credit score via CreditWise®: Capital One offers unlimited access to CreditWise®, which lets you track your credit score in real time. Available for iOS and Android users, it will give you credit reports from TransUnion® or Experian® and personalized suggestions to help improve your credit score.
- $0 fraud liability: You won’t be held responsible for unauthorized charges if your card is lost or stolen.
- Emergency card replacement: If your card is lost or stolen, you can get an emergency replacement card.
When grading secured business credit cards like the Capital One Platinum Secured Credit Card, we give the most weight to the annual fee and ongoing APR. We also consider the rewards, security deposit requirements, introductory APR, other fees, and additional features.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Annual Fee | 25 | 25 |
Ongoing APR | 10 | 25 |
Introductory APR | 0 | 5 |
Introductory Rewards | 0 | 10 |
Ongoing Rewards | 0 | 10 |
Security Deposit | 10 | 10 |
Other Fees | 8 | 10 |
Additional Features | 5 | 5 |
Total Score | 58 | 100 |
Who the card_name Is Best For
- Those who need to improve or build their credit: You may qualify for the card even with a limited or bad credit score if you can make a security deposit of at least $49, and with consistent on-time payments, it can help rebuild your credit.
- Those who don’t need more than $1,000 credit limit: The card will typically provide an initial credit limit of $200 for a minimum of $49 security deposit, with a maximum limit of $1,000.
card_name Rewards
Capital One Platinum Secured Credit Card does not offer introductory and ongoing rewards on purchases.
card_name Features
- CreditWise: Take advantage of this free credit card monitoring feature.
- $0 fraud liability: Enjoy peace of mind because you will not be responsible for any unauthorized charges on your card.
- Credit reporting: Capital One reports to the three major credit bureaus—namely Equifax, Experian, and TransUnion—which can help create a history of transactions that can help build your credit.
- Capital One’s mobile app: Access your account 24/7 from your desktop or smartphone.
card_name Fees
APR
- Introductory: None
- Ongoing on purchases: reg_apr,reg_apr_type
- Ongoing on balance transfers: balance_transfer_rate
- Cash advance: cash_advance_apr
Fees
- Minimum security deposit: $49, $99, or $200—opens your account with an initial credit line of $200, up to a maximum limit of $1,000
- Annual: annual_fees
- Transfer fees: 4% of the amount of each transferred balance that posts to your account at a promotional APR offered by Capital One
- Cash advance: cash_advance_fee
- Foreign transaction fees: foreign_transaction_fee
- Late payment: late_payment_fee
Your due date is at least 25 days after the close of each billing cycle.
- Capital One Mobile: Use the app to ensure you pay your balances in full each month.
- Phone: Call (800) 227-4825 or the number on the back of your credit card.
- Online: Log into your Capital One account and select “Make a payment.”
- Nearest Capital One bank: Visit the nearest Capital One branch.
- Mail: Send a check by United States mail using this address:
Capital One
Attn: Payment Processing
PO Box 71083
Charlotte, NC 28772-1083
- Overnight: When sending overnight, use this address:
Capital One
Attn: Payment Processing
6125 Lakeview Rd., Ste. 800
Charlotte, NC 28269
card_name Alternatives
Valley Visa® Secured Business Credit Card
Valley Visa® Secured Business Credit Card
BEST FOR:
Those who need a secured business credit card with fixed-rate cash back rewards
- 1% unlimited cash back on all purchases
- 110% percent of your approved credit limit
- $1,000 to $25,000, based on customer request
Pros
- Applicants with poor or limited credit history can still qualify
- Offers 0% APR on both purchases and balance transfers for six billing cycles
- $0 annual fee
- Offers 1% unlimited cash back on all purchases
- Report to major credit bureaus
Cons
- Credit limits are capped to $25,000
- Requires refundable security deposit of 110% credit limit
- Up to 25 free employee cards only
- Charges foreign transaction fee
- Online account access: Manage your account conveniently through online access.
- Fraud protection alerts: Immediate alerts for suspected fraudulent transactions.
- Visa purchase alerts: Receive near real-time notifications via email or text message for transactions made with your enrolled Visa card.
- Report to major credit bureaus: The card reports account information and transactions to major credit bureaus each month, helping users build credit with responsible use.
- 1% unlimited cash back on all purchases
- 110% percent of your approved credit limit
- $1,000 to $25,000, based on customer request
Pros
- Applicants with poor or limited credit history can still qualify
- Offers 0% APR on both purchases and balance transfers for six billing cycles
- $0 annual fee
- Offers 1% unlimited cash back on all purchases
- Report to major credit bureaus
Cons
- Credit limits are capped to $25,000
- Requires refundable security deposit of 110% credit limit
- Up to 25 free employee cards only
- Charges foreign transaction fee
- Online account access: Manage your account conveniently through online access.
- Fraud protection alerts: Immediate alerts for suspected fraudulent transactions.
- Visa purchase alerts: Receive near real-time notifications via email or text message for transactions made with your enrolled Visa card.
- Report to major credit bureaus: The card reports account information and transactions to major credit bureaus each month, helping users build credit with responsible use.
This secured business credit card lets you earn 1% cash back on all purchases, regardless of spending categories. On top of that, you can save on credit costs with its $0 annual and overlimit fees and 0% APR offer on purchases for the first six billing cycles after opening an account. While you can get a credit limit as high as $25,000, you’ll need to make a security deposit equivalent to 110% of your desired credit limit.
First National Bank of Omaha Business Edition® Secured Mastercard® Credit Card
First National Bank of Omaha Business Edition® Secured Mastercard® Card
BEST FOR:
Secured credit lines of as much as $100,000
- While FNBO does not offer any rewards for their new and existing cardholders for this card, you can still earn rewards through Mastercard Easy Savings®, where cardholders are able to save on purchases with automatic rebates from over 40,000 participating merchant locations available.
Pros
- Available for those with very poor to good scores
- Can set credit limits from $2,000 to $100,000
- Offers free management reports
Cons
- With annual fee
- Charges foreign transaction fee
- No introductory and ongoing rewards
- Requires a security deposit of 110% of the credit limit required
- TurboTax discount: Get a discount of up to $20 on TurboTax federal products when using First National Bank of Omaha Business Edition® Secured Mastercard®.
- QuickBooks Online or QuickBooks Self-Employed discount: Receive either a 30% off of a 12-month subscription on QuickBooks Online (Simple Start, Essentials, Plus, or Advanced) or a 30% off of a 12-month subscription on QuickBooks Self-Employed. This is applicable only to new QuickBooks Online customers.
- Free management reports: First National Bank of Omaha provides free management reports to help track expenses, monitor spending, note tax deductions, prepare tax filings, and predict costs easily.
- Zero liability: FNBO guarantees that you won’t be held responsible for any fraudulent charges made with both your card and account information.
- While FNBO does not offer any rewards for their new and existing cardholders for this card, you can still earn rewards through Mastercard Easy Savings®, where cardholders are able to save on purchases with automatic rebates from over 40,000 participating merchant locations available.
Pros
- Available for those with very poor to good scores
- Can set credit limits from $2,000 to $100,000
- Offers free management reports
Cons
- With annual fee
- Charges foreign transaction fee
- No introductory and ongoing rewards
- Requires a security deposit of 110% of the credit limit required
- TurboTax discount: Get a discount of up to $20 on TurboTax federal products when using First National Bank of Omaha Business Edition® Secured Mastercard®.
- QuickBooks Online or QuickBooks Self-Employed discount: Receive either a 30% off of a 12-month subscription on QuickBooks Online (Simple Start, Essentials, Plus, or Advanced) or a 30% off of a 12-month subscription on QuickBooks Self-Employed. This is applicable only to new QuickBooks Online customers.
- Free management reports: First National Bank of Omaha provides free management reports to help track expenses, monitor spending, note tax deductions, prepare tax filings, and predict costs easily.
- Zero liability: FNBO guarantees that you won’t be held responsible for any fraudulent charges made with both your card and account information.
This secured business credit card offers a higher possible credit limit than most other secured business credit cards. You can get up to a $100,000 limit subject to approval—you only need to make a security deposit equal to 110% of your requested limit. While it doesn’t offer ongoing rewards on purchases, you can enjoy automatic rebates at over 40,000 participating merchant locations through the Mastercard Easy Savings® feature.
Emburse Spend Card
 Emburse Spend CardBEST FOR: Earning unlimited cash back rewards | |
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This business prepaid card lets you earn 1% cash back on your purchases. It’s a great alternative if you don’t want to incur debt and have sufficient cash flow to use as working capital for your business. Note that you are required to load funds into your account before you can use the card and because it isn’t a credit card, it won’t help you build or improve your credit.
Frequently Asked Questions (FAQs)
Yes. There are two ways in which you can refund your security deposit:
- Earn back your deposit as a statement credit by using your card responsibly.
- Refunding it after closing your account and paying your balances in full.
Your minimum security deposit amount will be either $49, $99, or $200.
If your application is approved and you make the required minimum security deposit, your account will be opened with an initial credit line of $200. To receive a higher initial credit line, you may deposit more than the minimum required security deposit. The maximum credit line that you may receive is $1,000.
Bottom Line
Capital One Platinum Secured Credit Card is a great option if you’re either in the process of rebuilding or building your credit and cannot qualify for a regular unsecured credit card. It requires a minimum security deposit of $49 to open an account, with an initial credit limit of $200. Note that it doesn’t offer cash back rewards and comes with a high regular APR compared with most other business credit cards.
Fit Small Business has partnered with CardRatings for our coverage of credit card products. Fit Small Business and CardRatings may receive a commission from card issuers.
