Capital one prepaid credit card

February 22, min video. When used responsibly, a secured credit card can be a great tool to help you build good credit. But before applying, it may help to understand how secured cards work.

With responsible card use, you could earn back your deposit and upgrade to a standard, unsecured Platinum card. No foreign transaction fees. No replacement card fees. No authorized user fees. Just the card you need with no unwanted surprises. We report to the three major credit bureaus.

Capital one prepaid credit card

October 31, 4 min read. While the two have similarities, only secured credit cards can affect your credit and help you build credit when used responsibly. Keep reading to see how else these cards are different. Explore our Platinum Secured and Quicksilver Secured cards for building credit. Prepaid cards, also known as reloadable cards, require you to pay money up front. That money goes on the card, which can be used to make purchases. You can generally find prepaid cards at retailers, banks, credit unions, online or over the phone. But unlike credit cards, if a prepaid card is lost or stolen, you might not be protected. A secured credit card is a line of credit that requires a security deposit, and then you can use it as you would a traditional or unsecured credit card. The security deposit acts as collateral to open the line of credit. It can be helpful to think of it like the deposit required to rent an apartment. Secured card issuers typically report your credit history to the major credit bureaus, like they do for traditional unsecured credit cards.

Find the right savings account for you. You'll get your security deposit refunded if that happens or if you close your account, as long as your bill is paid in full. No rewards.

Our experts answer readers' credit card questions and write unbiased product reviews here's how we assess credit cards. In some cases, we receive a commission from our partners ; however, our opinions are our own. Terms apply to offers listed on this page. The Capital One Platinum Secured Credit Card is a good choice for folks who are new to credit or rebuilding their credit score. Because it's a secured credit card, you'll have to put down a security deposit — but its minimum deposit is lower than that of many similar cards. No annual or hidden fees. Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed.

A debit card is a payment card that deducts money directly from your checking account to pay for purchases instead of using cash. You can also use it to get cash and make other ATM transactions. Why contactless? Just tap, pay and be on your way. The future of cash is debit. Leave change in the past—not your pocket. Lock your card in a few taps. If your Checking debit card is ever misplaced, lost or stolen, you can lock and unlock it using the Capital One Mobile app. Swipe, tap or insert your debit card at your favorite retailers. You can activate your Checking debit card in a few simple steps online or from the Capital One Mobile app.

Capital one prepaid credit card

Prepaid cards are a type of debit card that function much like gift cards. You buy one, load a desired amount of funds onto the card and use the card to make purchases. The best prepaid cards tout minimal fees, are widely accepted and allow you to reload funds in a variety of ways, including direct deposit, transfers from a checking or savings account and cash loads at participating retailers. The best prepaid cards tout minimal fees, are widely accepted and allow you to reload funds in a variety of ways, including direct deposit, transfers from a checking or savings account, and cash loads at participating retailers. The Self — Credit Builder Account offers the unique opportunity to grow your credit score by reporting spending habits to all three credit bureaus, which is quite useful as this account does not require any credit history. While you will not actually receive a card to swipe, the Self — Credit Builder Account functions more like a savings account, but with the ability to build credit. In fact, Self will set you up with a small loan with a regular APR of You can also add cash at more than , reload locations in the U.

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I am so happy I have this card and my experience with Capital One has been awesome. The compliance team's mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. Auto Refinance Loans. My capital one so pretty good , the best card ever. The cards come with either a set available balance or an option to load money onto the card. Free Credit Monitoring. Learn more about account alerts. Be automatically considered for a higher credit line in as little as 6 months with no additional deposit. Cash Back Cards. Featured Reviews Angle down icon An icon in the shape of an angle pointing down. How does the security deposit work? Set up personalized email or text reminders to help you stay on top of your account. Emergency Card Replacement. Balance Transfer.

The card does not have an annual fee or foreign transaction fees see rates and fees but does not offer reward earnings or a sign-up bonus.

Cjefferson3 - February 22, However, you'll have the opportunity to earn get it back and convert to an unsecured card with responsible use over time. The deposit on a secured credit card is usually refundable. Is the Capital One Platinum a secured credit card? Credit History. There are several situations where a prepaid card could be helpful. What happens to my security deposit? The credit limit you'll get on the Capital One Platinum Secured Credit Card is determined by the amount you put down as a security deposit. Transfer your higher-rate balances onto a Capital One card. There are several ways to do this:. Set up personalized email or text reminders to help you stay on top of your account. While they don't typically come loaded with benefits, they're a good stepping stone in your credit journey. After that, you may be considered responsible for them, even if fraud is involved. Reload the card at a retail location or bank using cash. Learn more about account alerts.