5.Best no annual fee credit card for bad credit – Capital One Platinum Secured Credit Card
Credit limit: Make a refundable security deposit of at least $49 to receive an initial credit line of $200 or more
The Capital One Platinum Secured Credit Card stands out as the top choice for a $0 annual fee card aimed at those with limited or poor credit. It provides fantastic credit-building features along with one of the lowest possible deposits for a secured credit card. You can start with a refundable security deposit of just $49 to secure at least a $200 initial credit line (however, keep in mind that the lower deposit amounts are not guaranteed).
Credit-building features:
- Regular account reviews (after six months of responsible card usage, Capital One will assess your eligibility for a higher credit limit)
- Reports your credit history to the three major credit bureaus
- Free access to your credit score
| Annual Fee | Rewards Rate | Regular Purchase APR | Recommended Credit |
|---|---|---|---|
| $0 | N/A | 29.74% (Variable) |
300-600 Limited / Poor
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Card Information
- No annual or hidden fees. Find out if you’re approved in just seconds.
- Are you building your credit? Using the Capital One Platinum Secured card wisely could assist you.
- Make a refundable security deposit starting at $49 to secure at least a $200 initial credit line.
- You might get your security deposit back as a statement credit when you use your card responsibly, such as making timely payments.
- Be automatically eligible for a higher credit line in as little as 6 months without needing to make an additional deposit.
- Enjoy peace of mind with $0 Fraud Liability, ensuring you won’t be held accountable for unauthorized charges.
- Keep track of your credit score with CreditWise from Capital One. It’s free for everyone.
- Access your account 24/7 with online banking, allowing you to manage your account from your desktop or smartphone using Capital One’s mobile app.
- For Capital One products mentioned on this page, some benefits may be provided by Visa® or Mastercard® and can vary by product. Please refer to the respective Guide to Benefits for more information, as terms and exclusions apply.
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