Frequently Asked Questions

The Capital One Secured Card works like any other credit card, except it requires a security sum payment. This payment is used as security on your account and must be paid before we can send out your credit card.

We use the sum you pay as a security on your account. We need to do this as your current credit rating means we can't accept you for credit otherwise. However, once you have a Secured Card you'll be able to start improving your credit rating.

We need to take the sum in full, via an online payment made by Debit Card. You'll have 80 days to pay once you've completed your application.

You can pay your security sum online using a MasterCard Debit, Visa Debit, Electron or UK Maestro Debit Card. The security sum must be paid in full before we can send you your Secured Card.

We currently don't accept Prepaid cards. You can pay your security sum online using a MasterCard Debit, Visa Debit, Electron or UK Maestro Debit Card.

You'll have 80 days to pay once your application is accepted. You only pay the security sum once, when you open your account.

It's very straightforward. If your application is accepted, we'll send you an email and a letter explaining how and when you need to pay your security sum.

We refund the full amount of your security sum when you close your account, as long as you do not have any outstanding payments, fees or interest payable.

If your outstanding balance is less than your security sum, we will clear the account and send you the difference. If you have a balance outstanding that is greater than your security sum, we will ask you to pay the difference to enable the account to be closed.

While your account is open, we will keep your security sum in a separate account.

No, the security sum is not held in your card account and you must make your monthly payments separately. Your monthly statements will let you know how much you need to pay and when.

In certain circumstances, for example where you fall behind on your minimum repayments, we could use some or all of your security sum to pay off any outstanding balances on your account. We will send you written notice before using your security sum in this way.

Many of our customers find that setting up a Direct Debit is the easiest way of not forgetting to make the monthly payment. To set one up, please contact us for more details.

Sorry, but you can only open a Secured Card account if we send you an invitation to apply.