Capital One Secured Credit score Cards Why Are They So Eye-catching

15 Oct

Capital One secured credit cards have damaged the mold when it comes to secured credit cards. Rather of ridiculous processing costs and yearly charges, Capital 1 secured credit cards provide credit score-bruised buyers with incredibly acceptable interest charges and perks that other secured credit cards would not ever feel of offering.

The Interest Factor

You’d consider that due to the fact secured credit score cards are backed by money you deposit into an account, the interest costs would be affordable. Sadly, a lot of of the companies that offer you secured credit score cards could care less how considerably funds you have guaranteeing your account — they nevertheless charge an arm and a leg for interest.

Unlike many other secured credit score cards, Capital A single secured credit cards in fact have really reasonable interest charges. As opposed to a lot of other secured credit score cards, you will not shell out a ridiculous interest rate of 20 percent or a lot more when you have a Capital 1 secured credit card.

The Application Fee

It can be not uncommon for firms presenting secured credit score cards to charge an application charge. Of program, you generally are only charged this charge if you’re accepted (and if the company is genuine, they put the fee on the credit score card they are issuing you). Nevertheless, why shell out an application charge for other secured credit score cards when Capital A single secured credit score cards have no application fee connected?

The Credit score Limit

When it comes to secured credit score cards, the credit score restrict you’re authorized for genuinely depends on the volume you deposit into your secured account.

Although numerous secured credit cards supply the capability to get a limit for a thousand dollars or far more, Capital 1 secured credit cards have an initial credit score restrict of $400. This is, even so, for your personal great. Capital A single secured credit cards are meant to assist you rebuild your credit score. In order to do that, you need to have to take it one tiny stage at a time.

So now that you know how considerably credit you can get with a Capital A single secured credit score card, you happen to be possibly pondering what the minimum deposit quantity is to open one. In contrast to most secured credit cards, Capital One particular secured credit score cards will not demand a couple of hundred dollars to open your account. In truth, you can deposit as minor as $49 when opening your Capital A single secured credit score card.

Applying

Applying for Capital A single secured credit score cards is a little different than the other secured credit cards on the industry.

Rather of applying for a secured card straight, you must try out applying for their regular, unsecured credit score card. Many people who think they will not qualify for an unsecured Capital 1 card really do. If, nevertheless, you do not qualify for the unsecured, Capital A single with provide you the secured credit score card alternative.

If you’re severe about acquiring a secured credit card and rebuilding your credit, you can’t go incorrect with Capital 1. Due to their low interest prices, potential perks and lack of an application fee, Capital One secured credit cards are actually changing the way shoppers really feel about secured credit score cards.

No comments yet

Leave a Reply