To raise your credit limit, you can make additional deposits in increments, up to the ,000 maximum.If you demonstrate a pattern of reliable payments over several consecutive billing cycles, you can access a higher credit line without an additional deposit.Over time, issuers reward cardholders for timely payments by increasing their spending limits, in many cases without asking for an additional deposit.
It can range up to ,000, depending on your creditworthiness.
Whether you’re dealing with the negative effects of bad credit, or simply don’t have much of a credit history to speak of, applying for a secured credit card could end up being a critical first step on your path out of the credit wilderness. Unsecured cardholders aren’t required to put up any collateral before using their cards. They require cardholders to make cash deposits, usually equal to (and sometimes greater than) their initial credit limits, before making charges.
These deposits, and the corresponding credit limits, are often low compared to unsecured credit cards’ spending limits – rarely more than 0 at the outset.
Deposit Requirements, Benefits, and Restrictions Capital One® Secured Mastercard® requires a minimum refundable security deposit of , , or 0, depending on your credit profile.
You need to make the deposit within 80 days of applying for the card.