Using the Capital One Platinum Credit Card or Capital One Platinum Secured card is an excellent way to build your credit on a budget. MoneyGeek evaluates these two cards to help you choose the best for your situation.
Capital One Platinum Mastercard vs. Capital One Platinum Secured Card: Which Is Best for You?


People looking to build limited to fair credit ought to consider the Capital One Platinum Credit Card and Capital One Platinum Secured as solid options for their wallet. Both Capital One cards feature no annual fee, $0 fraud liability, virtual card numbers and 24/7 customer support.
However, there are some key differences between the Capital One Platinum Credit Card and Capital One Platinum Secured card. The former is available for people with fair credit, whereas the latter is for those with bad credit and requires a security deposit. MoneyGeek’s detailed comparison of the Platinum and Secured Mastercard below can help you determine which is best for you.
Comparison Overview: Capital One Platinum Mastercard vs. Capital One Platinum Secured Card
- Capital One Platinum MastercardCapital One Platinum Secured Card
- Has Annual Fee
- Has Balance Transfer Offer
- Has APR Offer
- Has Rewarding Welcome Offer
- Credit NeededLimited-Fair
Capital One Platinum Mastercard At a Glance
The Capital One Platinum Credit Card is an attractive option for people with fair credit since it comes with no annual fee and no foreign transaction fees. Capital One also offers credit line reviews in as early as six months, making this card excellent for users building their credit score.
- Capital One Platinum Mastercard
A great card for fair credit with no annual fees
- Limited-FairCredit Needed
- $0Annual Fee
- 3# of Reporting Bureaus
- 26.99%APR
Capital One Platinum Secured Card At a Glance
If you have bad credit, using the Capital One Platinum Secured can help you rebuild your credit on a budget. It carries no annual, monthly or foreign transaction fees, plus a 25-day grace period if you forget to pay your bill on time. A refundable security deposit of $49, $99 or $200 is required to open a starting credit line of $200. Over time, responsible users can upgrade to a standard, unsecured card.
- Capital One Platinum Secured Card
Best secured card for building credit on a budget
- Limited-PoorCredit Needed
- $0Annual Fee
- $49–$200*Min. Security Deposit
- 3# of Reporting Bureaus
- 26.99%APR
Comparison Summary
MoneyGeek’s detailed comparison of the Capital One Platinum Credit Card and Capital One Platinum Secured helps you determine which is more suitable for your needs.
- Card DetailComparison Summary
Fees
Both the Capital One Platinum Credit Card and Capital One Platinum Secured are low-budget cards with no annual or foreign transaction fees. Both also carry a late payment fee of up to $40, which is avoidable by paying bills on time.
Winner: Tie
Credit Required
Fair credit is required to qualify for the Capital One Platinum Credit Card.
On the other hand, people with limited or bad credit can get the Capital One Platinum Secured. Capital One offers a risk-free pre-approval process on their website, which doesn’t impact your credit score.
Winner: Capital One Platinum Secured
Security Deposit
Capital One Platinum Secured is a secured credit card that requires a security deposit of $49 to $200 to open an account. No security deposit is needed for the Capital One Platinum Credit Card.
Winner: Capital One Platinum Credit Card
Tap To Pay
Capital One Platinum Credit Card allows cardholders to pay by hovering their cards over a contactless card reader. Capital One Platinum Secured does not have this Tap To Pay feature.
Winner: Capital One Platinum Credit Card
Which Card Should You Get?
Although both the Capital One Platinum Credit Card and Capital One Platinum Secured have a $0 annual fee, the latter requires a security deposit. As such, your credit rating will likely be the determining factor in choosing between the two.
Who Should Consider the Capital One Platinum Mastercard?
Capital One Platinum Credit Card is perfect if you’re looking to improve your credit score with a straightforward, no annual fee credit card.
Individuals with fair credit can use Capital One’s risk-free online pre-approval process to see if they’re qualified.
Responsible card-users can enjoy an increased credit line and improved credit rating in as early as six months.
≫ More: Read Our Full Review
Who Should Consider the Capital One Platinum Secured Card?
Capital One Platinum Secured is a low-cost option for folks with bad credit. Outside of the refundable security deposit, there are no additional fees to use this card, and it doesn’t require opening a bank account.
Those for whom remembering to pay bills on time is a challenge can take advantage of this card’s autopay and 25-day grace period offerings.
People looking to rebuild credit by paying bills on time and using the card responsibly can qualify for a credit line increase in as little as six months.
≫ More: Read Our Full Review
Neither one of these cards is better than the other as they both target different audiences. However, if your credit isn’t great and you need to go with the Capital One Secured Mastercard for the time being, make it a goal to improve your credit to be able to move on to a unsecured card. The sooner you move on from your secured card, the sooner your credit will continue to go up and you can begin qualifying for high-value rewards credit cards.
Other Helpful Decision-Making FAQs
Despite knowing the difference between the Capital One Platinum Credit Card and Capital One Platinum Secured, you may be undecided about which one to go with. MoneyGeek has answered some questions that may help you make an informed decision.
Still Not Sure About These Cards? Consider These Options
If you have limited, bad or fair credit, Capital One’s Platinum Credit Card and Secured Mastercard are great ways to improve your credit as they both lack annual fees. However, if you’re looking to get more from using your credit card, consider getting a cash back or rewards card.
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sources
- Capital One. "Capital One Platinum Credit Card." Accessed January 7, 2022.
- Capital One. "Capital One Platinum Secured." Accessed January 7, 2022.
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