Back to FAQs category About Credit About bad credit Searches on your credit report Your credit card application Using your credit card Managing your account Statements, payments & interest Safety & Security Photocard Secured Card Aspire® Elite Card Mobile App Complaints Payment Protection Insurance (PPI) Subject Access Request Payment Services Directive (PSD2) Secured Card What is a Secured Card? 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. What is a security sum? 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. How do I pay my security sum? 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. Can I use a Prepaid card to pay my security sum? 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. How long do I have to pay the security sum? You'll have 80 days to pay once your application is accepted. You only pay the security sum once, when you open your account. How will I know when to pay my security sum? 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. Do I get my security sum back? 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. What do you do with my security sum? While your account is open, we will keep your security sum in a separate account. Can I use my security sum to pay off my card or minimum monthly payment? 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.