CapOne Card Graduation

Anonymous · ‎05-22-2017

I've had my CapOne secured card since April 2016. Started with the $200 balance and was given a $300 increase, so currently at $500. For the past three statements, I've had a $0 balance. My March statement showed a -$11.49 balance, and my statement this month shows a -$0.81 balance.

I've tried going through the chats and speaking with CapOne customer service reps about having the card graduate to an unsecured. Everytime I'm told my account is not showing offers to be graduated. I have 100% on time payments on this account, and when I first got the card, my credit was completely worse than what it is now. Not sure what my FICO scores were, but through CK website, I was in the mid-400's.

When I try CapOne's pre-qualifier page, I always get the "sorry, it looks like we couldn't offer you a card, but based on your answers, we think you might like.."

Current FICO 08 scores are: 611 EQ/ 595 TU/ 599 EX

FICO TU Bankcard Score 04: 609

Equifax Bankcard Score 08: 590 - Equifax Bankcard Score 05: 616

Experian Bankcard Score 08: 607 - Experian FICO Score 03 597

When I speak to a rep, they say it's odd that I haven't been able to receive a card and I should just apply anyway. I'm in the process of getting a mortgage, so I don't plan to apply until AFTER we close on the house. Just wondering why I'm not getting anything through the pre-qual page.

Anonymous · ‎05-22-2017

As far as secured cards go, I have one myself that was approved/activated right around New Year's 2016, 17 months ago. I've been waiting for quite some time now to see if it would be graduated, but I'm coming to the conclusion that because I was pretty bad off credit-profile-wise when I got this card, and also because I got it well before Cap One started experimenting with graduating secured cards, it's not happening. Capital One is known (as I've read in several other threads) to be stingy about graduating or increasing cards that they grant to people with subprime credit. In fact, I'm now seriously starting to think about just dialing back on using the secured card, paying down the balance to the point where I can transfer the remaining balance to another of my cards without increasing its util too much, and then closing it to get my deposit back.

Anonymous · ‎05-22-2017

There is a simple answer to this one:

Capital One does not graduate its secured cards. Ever.

You could get up to 800 with 10 years of perfect payments and no derogatory marks anywhere, and it will still never graduate.

They also only ever do one CLI, in 99.999% of the cases.

Anonymous · ‎05-22-2017

@Anonymous wrote:
There is a simple answer to this one:

Capital One does not graduate its secured cards. Ever.
You could get up to 800 with 10 years of perfect payments and no derogatory marks anywhere, and it will still never graduate.

They also only ever do one CLI, in 99.999% of the cases.

Absolute NOT TRUE.

Capital One graduates SOME secured cards -- especially those issues AFTER a certain date in 2016. OP probably got their card BEFORE the graduation card was released.

Anyone who got a card in 2017 will likely graduate now.

Just type "Capital One Graduated" in the searchbar and see hundreds of stories of those who DID in fact graduate.

Anonymous · ‎05-22-2017

Yes, I think those who must have got their card starting May 2016 are getting their cards graduated. When I speak to a rep, they tell me "Graduating cards is a new feature that we are slowly rolling out. Continue to check your account for updates to see if you qualify".