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

Name: Capital One Platinum Credit Card vs. Capital One Platinum Secured
Item: Capital One Platinum Credit Card vs. Capital One Platinum Secured
Author: Doug Milnes, CFA

Capital One Platinum Credit Card

vs.

Capital One Platinum Secured Credit Card

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.

ByDoug Milnes, CFA

Reviewed byBrett Holzhauer

Updated: March 19, 2024

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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 an unsecured card available for people with fair to good credit, whereas the latter is for those with limited or 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 at least 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
Good no-frills unsecured card for building credit
- NoneRewards Rate
- 29.99% VariableAPR
- $0Annual Fee
- Fair – GoodRecommended Credit
Pros
No annual or hidden fees
Fast approval process
Potential for higher credit line
Free credit score monitoring

Cons
No reward system
High APR
• No annual or hidden fees. See if you're approved in seconds • Be automatically considered for a higher credit line in as little as 6 months • Help build your credit through responsible use of a card like this • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges • Monitor your credit score with CreditWise from Capital One. It's free for everyone • Get access to your account 24 hours a day, 7 days a week with online banking from your desktop or smartphone, with Capital One's mobile app • Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you're all set • Pay by check, online or at a local branch, all with no fee - and pick the monthly due date that works best for you
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, and no penalty APR. A refundable security deposit of $49 to $200 is required to open an account. Over time, responsible users can upgrade to a standard, unsecured card.

Capital One Platinum Secured Credit Card
Best secured card for low deposit and potentially high credit limit
- 29.99% VariableAPR
- $49Min. Security Deposit
- $0Annual Fee
- Limited – BadRecommended Credit
Pros
No annual fee
Quick approval process
Improves credit with responsible use
Potential for higher credit line
Comes with security protections

Cons
Requires security deposit
No rewards program
High interest rates
No annual or hidden fees. See if you're approved in seconds
Building your credit? Using the Capital One Platinum Secured card responsibly could help
Put down a refundable security deposit starting at $49 to get a $200 initial credit line
You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
Monitor your credit score with CreditWise from Capital One. It's free for everyone
Get access to your account 24 hours a day, 7 days a week with online banking to access your account from your desktop or smartphone, with Capital One's mobile app
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 a solid contender 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 limited or bad credit. Outside of the refundable security deposit, there is no annual fee to use this card.

Those who don't mind putting down a security deposit face a lower bar of entry and can still enjoy a much higher credit limit on their credit-building journey.
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

If you start out with the Capital One Platinum Secured Credit Card, make it a goal to improve your credit to be able to move on to an 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

Now you know the differences between the Capital One Platinum Credit Card and Capital One Platinum Secured Credit Card, so which one is right for you? Here are some common questions asked by people considering the same two cards.

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

Responsibly using the Capital One Platinum Secured card allows cardholders to improve their credit score and hopefully become eligible for an upgrade to the unsecured Capital One Platinum Card.

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.

Still Not Sure About These Cards? Consider These Options

About Doug Milnes, CFA

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.

*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.
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