1. Purpose and Eligibility: The Capital One Secured Mastercard is specifically crafted for individuals with limited or damaged credit histories. It serves as a stepping stone for those aiming to establish or rebuild their credit profiles. Unlike traditional credit cards, this card requires a security deposit, which becomes the cardholder’s credit limit. 2. Security Deposit and Credit Limit: Upon approval, cardholders are required to make a refundable security deposit, typically starting at $49, $99, or $200, depending on creditworthiness. The deposit determines the initial credit limit, providing a responsible and manageable means for users to demonstrate their ability to handle credit. 3. Credit Reporting and Building: One of the primary advantages of the Capital One Secured Mastercard is its reporting to all three major credit bureaus. This ensures that responsible card usage is reflected in the cardholder’s credit history, gradually enhancing their credit score over time. Consistent and timely payments play a pivotal role in this credit-building process. 4. Graduation to Unsecured Credit: With responsible credit behavior, Capital One may review the account after a certain period, and if deemed eligible, the cardholder could be upgraded to an unsecured credit card. This transition is a significant milestone, signifying improved financial health.