Having a credit card is indeed very profitable for daily transactions, as well as transactions in large quantities. However, credit card users often forget themselves and buy things that are not needed, and just realized when the bill appears at the end of month. To avoid this, certain bank made secured credit card as safety measures in the transaction. This time, we will learn about Capital One Secured card credit limit with 200 deposit. Why is Capital One? It’s because at this time, it is the leading provider in the field of secured credit cards. In addition, it also has a low deposit amount with various advantages and conveniences provided, making your transactions feel much more enjoyable and safe.
More Details about Capital One
Capital One is a Fortune 500 bank engaged in financial services and solutions. It is in charge of providing the best service in field of budgeting, economy, business, and finance to the target market. As one of the largest banks in United States, the service reaches more than 5 states, including New York and District of Columbia.
One example of product service from Capital One is Capital One Secured card credit limit with 200 deposit. Essentially, secured credit cards are similar to credit cards in general. You can trade using the card, shop, pay for daily needs, etc. However, to avoid the possibility of out of balance credit cards, you are required to pay a certain amount of collateral to the bank concerned first (in this case, Capital One). This is a powerful way to improve user safety measures, as well as credit card providers.
Secured credit cards will be very useful for you who just hold a credit card for the first time. Capital One Secured card credit limit with 200 deposit can be used as a solution for timely payment. Moreover, avoid excessive consumption that might result in a not financially good condition.
How did this happen? Secured credit card calculates the limit based on your ability to pay a guarantee. It is different from a regular credit card that takes a limit based on your habitual spending and consumption. The difference lies in the given number of limits. For unsecured credit cards, your limit is usually above $1000, while for secured ones, you will only be given a limit of about $200.
Right now, you are probably wondering, “Then, what’s the difference with a debit card? When we doing transaction using a debit card, it takes money directly from our bank account, as well as secured credit cards that require our money to shop”.
Yes, you may be right, but a secured credit card is also useful for those who have a low credit score. By using Capital One Secured card credit limit with 200 deposit, you are behaving well in front of the bank, by giving a certain amount of guarantee that your financial life is not overburdened by your total consumption. It is the thing you do not get when using a debit card.