How does the Capital One Secured Card work?
• Once you’re approved, all it takes to get started is a minimum, refundable security deposit, which you can make at once or over time. You can make your security deposit online or over the phone. When you’ve made your minimum security deposit, your card will be sent to you with a minimum credit line of $200. If you want to increase your credit line, simply deposit more than your minimum security deposit and your line will increase equal to your additional deposit up to your maximum approved credit line. You can do this now or over time. Your card status will automatically be reported to the three major credit bureaus. Based on your payment and credit history, you may qualify for a future credit line increase with no additional security deposit needed.
