Building or improving your credit score can be painstakingly difficult. It is a long process that takes a lot of time and patience for anyone who wants to get a good credit score.
There are a lot of credit card companies out there that can help you redeem your credit score, but there is a certain Capital One Mastercard that gives you the utmost convenience.
Check out the Capital One Platinum Secured Credit Card and learn more about the rewards and perks of having this credit card.
Capital One Platinum Secured Credit Card Overview
Getting the credit line that you need with your low credit score can be very difficult.
The Capital One Platinum Secured Credit Card makes it a lot easier for you to redeem your credit score with the help of these wonderful features.
Check out all the amazing features that the Capital One Platinum Secured Credit Card has to offer.
Main Benefits, Rewards, and Features
As with many other secured credit cards, the Capital One Platinum Secured Credit Card will require you to have a security deposit which acts like your initial credit limit.
You can even increase your credit limit of up to $1,000 by making more than the minimum deposit before you activate your account.
You can also pay in installments if you’re not able to pay your security deposit upfront as long as you’re able to pay in full within 35 days of application.
Get Access to Higher Credit
In as little as six months, you can gain access to a higher credit line as long as you meet their requirements.
One such requirement is that you make your monthly payments as scheduled.
Paying on time is a rewarding experience for those who want to improve their credit score while also wanting a higher credit limit with the Capital One Platinum Secured Credit Card.
Interest Rates and Other Charges
Capital One Platinum Secured Credit Cardholders will receive a variable regular APR of 30.74% upon application.
But the good thing here is that the card does not charge you an annual fee for maintenance or even a foreign transaction fee.
The balance transfer fee is 3% of the amount of each transfer, and the cash advance is also at 3% of the amount of the cash advance.
Zero Fraud
Cardholders can enjoy using this Capital One Mastercard with its $0 Fraud Liability.
You won’t be responsible for any charges made on your account if it is proven to be coming from someone else.
Any unauthorized charges made by the card will not be billed to your card.
Monitor Your Transactions
One of the best features of the Capital One Platinum Secured Credit Card is Eno. Eno is Capital One’s assistant that monitors all of your transactions, including all of your expenses.
It will also provide insights into your spending patterns so you will know which transactions you can do without to save money.
You will also receive alerts for any fraudulent activity.
Why Do You Need the Capital One Platinum Secured Credit Card?
There are a lot of reasons why you should be applying for the Capital One Platinum Secured Credit Card.
We all want to have a good credit score, and if you’re down on your luck and want to improve your credit report, this is the right card for you.
You can apply for this credit card even if you have a low credit score. Take this opportunity to build your credit score back up.
It is also highly recommended to apply for this card if this is your first time owning a credit card and you want to build a good credit score.
Contact Information
If you have questions about the credit card, you can contact their customer service hotline at 1-800-CAPITAL (227-4825).
A representative will be with you on the line to help you with your inquiries. You can also visit any nearby Capital One bank branch.
You can visit their main headquarters at 680 Capital One Drive, McLean, VA 22102-3491 in the US.
Qualifications and Other Requirements for Application
Getting approved for the Capital One Platinum Secured Credit Card will require some work on your behalf.
Applying for a secured credit card can be quite challenging as you will be under a lot of scrutiny.
To make your application experience more convenient, here are some qualifications and requirements that you can prepare.
Check Your Credit Report and Score
This is an important step before you even apply for the card. Make sure that you already have your credit report and your credit score in hand.
You should also have the means to monitor your credit score even before you apply for this card.
It will help you evaluate your creditworthiness and then decide if you want to pursue this card.
Check Out These Requirements
You should also learn about the requirements for applying.
You must be at least 21 years old at the time of application.
You must also provide proof of identification, which includes your Social Security Number and your taxpayer identification number.
Applying for the Capital One Platinum Secured Credit Card
If you’re looking to get this Capital One Mastercard, you can apply for the card in two different options.
You can apply online through the website, or you can visit any Capital One branch near you.
Applying Online
If you choose to apply online, head over to the official website and select the card. Log in using your account and click on Apply.
Fill out the online application form and make sure to review everything before you submit.
Wait for the notification that you have been approved for the card.
Applying Personally
If you want to apply at a Capital One branch, make sure that you bring all the requirements with you before you head to the bank.
Ask for a bank representative to help you with your application.
Fill out the application form, review the details for spelling errors, hand over your documents, and wait for them to provide you with updates.
Conclusion
The Capital One Platinum Secured Credit Card makes building or even improving your credit score a lot easier. While the credit card does have some restrictions, its very flexible deposit requirements, including the installment plans and very low fees, make it the perfect starter credit card to build your credit score.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.
