Wednesday 11 December 2019

Capital One Secured Mastercard Credit Score Required - FICO SCORE Less Than 600

Capital One Secured MasterCard Credit Score Requirement

The Capital One Secured Mastercard credit score required to apply for the credit card are suited to people who have relatively low credit. If you have a FICO score of 600 or less you can apply for the Capital One Secured Mastercard.

Having poor credit can be a pain in the neck, no one will want to lend you money, at times it can get so annoying. You may have missed a few payments in the past but you've got your act together when it comes to making payments on time but still you are being penalised and the credit card declines are mounting up. There is an answer...

Many credit card companies realise that people slip up when it comes to making payments and are willing to offer credit at higher rates so you can regain their trust. 

The Capital One Secured MasterCard credit score requirements is particularly suited to people who just want another opportunity to build their credit.

Capital One Secured MasterCard Benefits

Benefit 1: Excellent for rebuilding credit and trust with Bank. If you can make payments on time your credit score and trust will increase very quickly and you will be upgraded to better cards.

Benefit 2: Unlike other bad credit credit cards the Capital One Secured MasterCard has no annual fees and all the credit card building benefits if you use the card responsibly.

Benefit 3: The Capital One Secured MasterCard is unlike prepaid credit cards because you don't have to make an initial deposit. You just have to spend responsibly. Make sure you don't spend more than 30% of the credit limit and make regular payments over time.

Benefit 4: Your security is protected because access to an authorized bank is required to make your $49, $99 or $200 refundable security deposit. Don't be scammed by some companies who don't return this money.

Benefit 5: This is an excellent trick. To get the most out of the Capital One Secured Mastercard all you have to do is make the minimum required security deposit and you'll get a credit limit of $200, just before your account opens you can make a larger deposit and get a higher credit line. When Capital One sends the Credit Limit information to the FICO scores you will be seen to have a higher rate and therefore be deemed to be more creditworthy.

Benefit 6: With the Capital One Secured MasterCard you will get access to a higher credit line after making your first 5 monthly payments and you won't need to make additional deposits unlike other credit cards.

Benefit 7: You can manage your money very easily. You have 24/7 online access using a computer, you also have an APP so you can monitor your spending and make sure you make payments on time.

Benefit 8: Once you've established you can make payments on time Capital One will upgrade your card. In 12 months you could end up with a Platinum Card if you play your cards right.

Benefit 9: Many people with poor credit have recommended this card to build credit. It is the best way to rebuild your FICO credit score. in a matter if 12 months your credit score could improve dramatically and you will be in a better financial position.

Benefit 10: You can place spending limits on the credit card and automatic payments so you never miss a payment and never go above 30% of the credit limit.

Capital One Secured MasterCard Credit Score

Don't worry if you have a FICO credit score of less than 600. You will be approved for this credit card and Capital One will give you the opportunity to build your credit score. 

As I mentioned previously, if you can keep within the 30% credit limit and make payments on time your credit score will improve after 6 months and in 12 months you could be eligible for the Capital One Platinum Card. 

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