Credit Cards » Compare Credit Cards » Chime Credit Builder Secured Visa vs. Capital One Secured Mastercard: 2024 Comparison
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Chime Credit Builder Secured Visa vs. Capital One Secured Mastercard: 2024 Comparison

The Chime card is more flexible and has no credit check, whereas Capital One opens up possibilities for transitioning to an unsecured card.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: January 1, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: January 1, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

The Chime Credit Builder Secured Visa and the Capital One Secured Mastercard are two options for individuals looking to rebuild or establish their credit. Both cards require a security deposit, but there are some differences between them.

General Comparison

The Chime Credit Builder Secured Visa keeps things simple and aims to include everyone financially. They're big on not charging you extra — no annual fees or interest to worry about. Plus, they throw in some handy features like early direct deposit and a round-up savings option to help you stay on top of your money.

To get in on the Credit Builder action, you'll need a Chime checking account and regular direct deposits of $200 or more. This card works like a secure superhero for your credit — the more money you put into your secure account, the more you can spend. What's cool is that there's no fixed credit limit, so your spending power matches the cash you stash in that secure account.

Now, onto the Capital One Secured Mastercard. It's all about simplicity and making credit accessible. You can hop on board with a minimum deposit as low as $49, $99, or $200, depending on how credit-worthy you are.

Similar to the Chime card, the Capital One Secured Mastercard isn't big on giving you extra goodies like rewards or a welcome bonus. But, hey, there are no annual fees or foreign transaction fees to bug you either. It's a straightforward deal to help you build up that credit without the extra fuss.

Here's a side-by-side comparison of the card's main features:

chime card

capital_one_secured_mastercard

Chime Credit Builder Secured Visa
Capital One Secured Mastercard
Annual Fee
$0
$0
Rewards
None
N/A
Welcome bonus
None
N/A
Credit Limit
Depends on how much you move from your Chime Checking Account
$200 – $1,000
Foreign Transaction Fee
0%
$0
Purchase APR
N/A
30.49% (Variable)
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Offers From Our Partners

milestone card art

Annual Fee:
$175 the first year; $49 thereafter
APR:
35.90%

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.

milestone card art

Annual Fee:
$175 the first year; $49 thereafter
APR:
35.90%
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

Compare Extra Perks & Credit Building Features

Both cards also offers features and benefits for cardholders, primarily those who are looking to build their credit:

Chime Credit Builder Secured Visa

chime card

  • No Annual Fee or Interest: Chime Credit Builder comes with no annual fees or interest charges, making it a cost-effective option for users.

  • No Credit Check: Applying for Chime Credit Builder doesn't involve a credit check, providing accessibility to individuals with various credit backgrounds.

  • No Minimum Security Deposit: Unlike many secured credit cards, Chime Credit Builder doesn't require a minimum security deposit, offering flexibility for users.

  • Reports to All 3 Credit Bureaus: Chime Credit Builder reports to all three major credit bureaus, aiding in the establishment and improvement of credit over time.

  • No Credit Utilization Reporting: With Chime's unique account design, there's no pre-set credit limit, and credit utilization isn't reported to credit bureaus. Users can spend based on their transferred amount without concerns about credit utilization percentages, providing more financial freedom.

  • $0 Fraud Liability: You have the reassurance that you will not be held financially responsible for any unauthorized charges.
Capital One Secured Mastercard

capital_one_secured_mastercard

  • Automatic Credit Line Reviews: Capital One Secured offers automatic consideration for a higher credit line after as little as 6 months of responsible card use.

  • Credit Reporting: The card reports to all three major credit bureaus, providing an opportunity to build credit with a history of responsible card usage.

  • No Hidden Fees: Capital One Secured comes with no foreign transaction fees, replacement card fees, or authorized user fees, ensuring transparency and no unwanted surprises.

  • Refundable Deposits & Upgrades: Responsible card use may result in earning back the initial deposit and the potential to upgrade to a standard, unsecured Platinum card.

  • Make Your Deposit, Open Your Account: A minimum deposit of $49, $99, or $200 opens your account, providing an initial credit line of $200.

  • Account Alerts: Set up personalized email or text reminders to stay informed about your account activity and manage it effectively.

  • CreditWise from Capital One: Enjoy free credit monitoring with CreditWise, regardless of whether you have a Capital One credit card, without impacting your credit score.

  • $0 Fraud Liability: In case of a lost or stolen card, you won't be held responsible for unauthorized charges, offering added security.

  • Account Alerts from Eno: Receive alerts for potential mistakes or unexpected charges, such as duplicate purchases or sudden recurring bill increases, enhancing fraud detection and financial oversight.

Compare The Alternatives

If you're looking for a credit-building credit card, here are some alternatives :

OpenSky® Secured Visa® Credit Card

citi secured mastercard review

Discover It Secured review

OpenSky® Secured Visa® Credit Card
Citi Secured
Discover It Secured
Annual Fee
$35
$0
$0
Rewards
None
None None
1-2% 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter and unlimited 1% cash back on all other purchases
Welcome bonus
None
None None
Match Bonus Discover automatically matches the cash back you've earned at the end of your first year, no limits
Foreign Transaction Fee
3%
3%
3%
Purchase APR
25.64% (variable)
27.74% (Variable)
27.74% (Variable)

Compare Chime Credit Builder Card

Both Chime and Upgrade cards are new in the view, offers great features for beginners who don't established their credit yet. Which one wins?

Chime Card vs Upgrade Card: More Than Building Your Credit?

Chime is our winner as it offers no credit check and no foreign transaction fees, unlike the Citi Secured which is a more conservative card.

Chime Credit Builder Secured Visa vs. Citi Secured Mastercard: Comparison

The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.

Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A.; Members FDIC. The secured Credit Builder card issued by Stride Bank, N.A.

Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.

Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Credit Card Reviews Methodology

In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.