Thursday, March 23, 2017

Capital One Secured MasterCard Credit Card

Apply for Capital One® Secured MasterCard® Credit Card to Rebuild Your Credit Standing

Getting a credit card is quite difficult these days due to the many requirements and proof of a person’s ability to own one. There is a need to present valid identification and more importantly, a certification of a good credit standing. For most people, having a good credit history would automatically result to the rejection of their credit card application. Persons who are applying for a credit card for the first time or who have just bounced back from debt and bankruptcy would certainly be unable to qualify for a credit card. However, with the Capital One® Secured MasterCard® Credit Card, they are given an option for them to have a chance to have their own credit card.

There are some people who opt for a prepaid card instead, after finding out about the requirements of credit cards thinking that it would be enough to cover for their needs. The Capital One® Secured MasterCard® Credit Card is a credit card that would require the holder to make purchases that would not exceed a given credit limit. Prepaid and debit cards do not report to major credit bureaus making it a poor option to make if a person would want to build their credit standing.

The Capital One® Secured MasterCard® Credit Card works similarly to the more common credit cards, but it requires a security deposit that is made as the collateral for the account. Beginning credit card applicants and previous card holders in debt can acquire their own secured credit card to begin building up their credit standing. This is made possible with the automatic reports forwarded to three major credit card bureaus. In addition to this, the Capital One® Secured MasterCard® Credit Card also provides the card holder an ability to track their application through CreditInform®. This facility allows a secured credit card applicant to follow up and track the process of their application to find out when they could receive their personalized card.

Once approved, the card holder simply needs to place a minimum security deposit of $200 that can be spent as soon as it has been deposited into the account. It is important, however, to deposit an initial amount within the first eighty days so that the personalized card will sent to the card holder’s indicated address. The security deposit dictates the credit line of the Capital One® Secured MasterCard® Credit Card which can be increase by depositing a bigger amount. The maximum credit line for the secured credit card is $3,000. After a few months of using the card, the positive credit standing would also help in increasing the credit line that was initially given to the card holder as a result of the improving credit history.

Capital One® Secured MasterCard® Credit Card works exactly like any other credit card because it can be used in any merchant or establishment that accept MasterCard. This can even be brought abroad to make payments and book for flights and accommodations online. In using the card, the payments are made on a monthly basis with an option to pay the entire amount to regain the credit or at least the minimum monthly dues. Responsible use and management of the Capital One® Secured MasterCard® Credit Card is essential because this is the first step to take in order to build or rebuild one’s credit standing.

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