The Capital One Platinum Secured Credit Card is tailored for individuals aiming to rebuild their credit profile. With no annual or hidden fees, this card stands out as a low-barrier entry into responsible credit use. It offers a variable APR of 29.49%, and the required refundable security deposit can be as low as R940, securing an initial credit limit of R3,800.

Applicants are assessed in seconds, and cardholders are regularly considered for a higher credit line after as little as six months of responsible use. The security deposit is refundable and may be returned as a statement credit with good behaviour, making it a truly secure—and rewarding—way to build or restore credit.

How to Apply: Step by Step

1. Visit the provider’s secure online application portal.

2. Complete your personal and financial information as requested.

3. Submit your application—approval can be instant.

4. Provide your refundable security deposit once prompted.

5. Once approved and the deposit is paid, start using your credit card responsibly.

Key Advantages

One highlight is the ability to be automatically considered for a higher credit limit after just six months. This boosts purchasing power without requiring additional deposits.

Another strong feature is $0 fraud liability, guaranteeing peace of mind if unauthorised charges occur. Your account is accessible anytime via Capital One’s digital platforms.

Points to Consider

The variable APR of 29.49% is higher than average, which means carrying a balance may result in substantial interest charges. Responsible repayment is vital.

The credit line starts at R3,800, which might not suffice for larger purchases. The initial refundable deposit can also deter those short on immediate funds.

Our Verdict

The Capital One Platinum Secured Credit Card is a trusted product for rebuilding credit, giving users a fair shot at regaining financial stability. For those who can manage monthly payments and are willing to place a refundable deposit, it’s a value-packed secured card. Its step-up features—like credit monitoring—make it a versatile tool for South Africans wanting to raise their credit standing.