Capital One Secured MasterCard
Annual Fee: $0
Unique Perk: Zero annual fee & Flexible Down Payment
The Capital One Secured MasterCard is another great option as it has no annual fee and you might be able to pay a reduced security deposit of $49 or $99 instead of the normal $200 required deposit.
The initial opening credit line is $200. After 5 months of on-time payments, Capital One will review your profile and potentially increase your credit line without requiring a larger security deposit.
Due to stricter than normal underwriting standards, the Capital One Secured MasterCard is probably a more realistic opportunity for applicants with minimal credit history and a low debt-to-income ratio. Also, you will need a checking or savings account to be approved as well.
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