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This article provides information about the psychometric limitations of the original Compound Psychological Capital Scale (CPC-12) and suggests a revised version CPC-12R, a free-to-use measure of Psychological Capital. The investigation consisted of three studies: two of these identified psychometric limitations of the original scale, and the third presented the revised version of the scale. The first study did not confirm the hypothesized four-factor structure of the CPC-12 on a sample of Czech teachers (n = 282) and found psychometric limitations in the resilience subscale. The second study identified the same problem using secondary analyses of the original data from two samples of German employees (n = 202 and 321 respectively). The third study proposed a revised version of the scale with new items for resilience, and provided support for reliability and factorial validity of the new CPC-12R on a sample of Czech employees (n = 333). CPC-12R demonstrated a better fit to the theoretically supported model of Psychological Capital than CPC-12, and further displays adequate psychometric properties to be recommended for application in both research and practice.