Is the Capital One Platinum Credit Card better than the Capital One Platinum Secured card?

Capital One Platinum Credit Card is an unsecured card targeted toward people with limited to fair credit. In contrast, Capital One Platinum Secured is a secured card for folks with bad credit. A person’s credit score determines which card will be better for them.

Can you get the Capital One Platinum Credit Card if you have the Capital One Platinum Secured card?

Responsibly using the Capital One Platinum Secured card allows cardholders to improve their credit score and hopefully apply for a Capital One Platinum Credit Card over time.

Can you transfer points from Capital One Platinum Credit Card to Capital One Platinum Secured?

Neither card features a points-reward system, so it is impossible to earn points using either Capital One Platinum Credit Card or Capital One Platinum Secured.

Can you switch from Capital One Platinum Credit Card to Capital One Platinum Secured?

Although possible, we don’t recommend switching from Capital One Platinum Credit Card to Capital One Platinum Secured since the latter requires a security deposit.

What’s harder to get, Capital One Platinum Credit Card or Capital One Platinum Secured?

Individuals with bad credit do not qualify for the Capital One Platinum Credit Card, making it more difficult to get than the Capital One Platinum Secured card.

Capital One Platinum Credit Card vs. Capital One Platinum Secured Credit Card: Which Is Best for You?

Q: How much do you have to spend for Capital One Platinum Credit Card vs. Capital One Platinum Secured to get the welcome bonus?

Currently, neither card offers a welcome bonus.

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.

Advertising & Editorial DisclosureLast Updated: 11/6/2022

Reviewed By

Brett Holzhauer

Last Updated: 11/6/2022

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.

OUR COMPARISON AT A GLANCE

Comparison Overview
Capital One Platinum Credit Card at a Glance
Capital One Platinum Secured Credit Card at a Glance
Comparison Summary
Which Card Should You Get?

Comparison Overview: Capital One Platinum Credit Card vs. Capital One Platinum Secured Credit Card

Capital One Platinum Credit Card
Capital One Platinum Secured Credit Card
Has Annual Fee
Has Balance Transfer Offer
Has APR Offer
Has Rewarding Welcome Offer
Recommended Credit
Fair – Good
Has Balance Transfer Fee
Has Foreign Transaction Fee
High APR

Capital One Platinum Credit Card 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 Credit Card
A great card for fair credit with no annual fees
- Fair – GoodRecommended Credit
- $0Annual Fee
- 3# of Reporting Bureaus
- 28.49% variableAPR
Pros
Set up autopay
Add an authorized user
No annual fees
No balance transfer fees
No foreign transaction fees
$0 fraud liability
Virtual card numbers for online transactions

Cons
No rewards or cash back
High APR for purchases and balance transfers
Cash advance fees
Pay no annual fees.
Use the card for balance transfers.
Experience safer online shopping by using virtual card numbers.
Get considered for a higher credit line after six months.
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Terms, rates and fees apply
Compare this credit card with other cards selected for people with average credit at CardRatings.com.

Capital One Platinum Secured Credit 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 Credit Card
Best secured card for building credit on a budget
- Limited – BadRecommended Credit
- $0Annual Fee
- $49Min. Security Deposit
- 3# of Reporting Bureaus
- 28.49% VariableAPR
Pros
Great if you have limited or bad credit
No annual fee
25-day grace period
Good for building credit
Easy to get a higher credit limit
Online access for easy managing/monitoring
Millions of acceptable card locations worldwide

Cons
APR is a bit high
No extra rewards
Credit check required
Requires an initial security deposit of at least $49
Regular credit reports to all three bureaus
Initial credit lines start at $200
Cash advance of $10 or 3% of the amount, whichever is greater
Up to $40 late payment fee
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Terms, rates and fees apply
Compare this credit card with other top-rated secure cards from our partners.

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 Detail
Comparison 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 Credit Card?

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 Credit 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

EXPERT OPINION

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.

View All Credit Cards

Learn more about credit cards in general

sources

Capital One. "Capital One Platinum Credit Card." Accessed January 7, 2022.
Capital One. "Capital One Platinum Secured." Accessed January 7, 2022.

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.