Adding to Capital One Secured card to increase credit limit

[Nyck76]

FYI I called today to add money to my Cap one secured card to increase my credit limit and they will be DISCONTINUING this option of adding to the account to increase the line of credit in the future. Apparently they are revising their secured card and this is part of that revision. This was stated by 2 different representatives I spoke with. They do not have the effective dates for this yet but customers will be mailed the details prior to discontinuation or what other options may be available. Based on this I put down an additional $500 instead of the $200 I was going to do. I plan to add every 2 weeks when I get paid to the max of $3000.

[Pway]

How long have you had your secured card?  I would suggest opening up another tradeline instead of putting all that money in one card.  It is a good rebuilder but I would suggest you weigh your options before doing this.

GL

[Kaycee213]

Thanks for the heads up. I'm coming up on 1 year with the Secured card in July. I'm still debating on closing it or adding more of a deposit to it

[Pway]

If it was me I would apply for another capital one product.  Quicsilver one or the Platinum.  

[Nyck76]

I just got it. Only have a US Bank (just opened this as well) and put $1000 on that when I opened it, and that you have to wait 6 months to add to. Cap One I only did $300 when I opened it. Cap one has no fee and no foregin transaction fees and I travel alot so I want it to have a $3000 limit. I don't qualify for BOA or SDFCU (they can't seem to verify my identity over the phone and I live in IL so I can't go into a branch).

[Nyck76]

Already tried that, was not approved for any other Cap one product. Trust me, I have been doing alot of research between here and creditboards

[Pway]

Okay if you need the higher credit line then go ahead.