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Contributor
Posts: 89
Registered: ‎07-28-2012
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Re: Cap1 secured to unsecured

Im sorry I meant GWs. But ok, would you still recommend getting another secured card or just increase my limit on the one that I have and work on my baddies?
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Posts: 15,442
Registered: ‎04-09-2011
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Re: Cap1 secured to unsecured


glendazamot wrote:
Im sorry I meant GWs. But ok, would you still recommend getting another secured card or just increase my limit on the one that I have and work on my baddies?

I'd increase what you got and work on the baddies. Give your INQ's time to age and hopefully you get some luck getting some baddies deleted.

 




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Contributor
Posts: 89
Registered: ‎07-28-2012
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Re: Cap1 secured to unsecured

Sounds good. Thank you so much for your advise!! : )
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Contributor
Posts: 89
Registered: ‎07-28-2012
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Re: Cap1 secured to unsecured

Good info Relevante. Thank you!
Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: Cap1 secured to unsecured

Cap1 does not unsecure.   And you do not have to close it to apply for another card with them.

 

Since you have the card already, wait until you have some good history built up with them and then apply for unsecured card with them.   You are much more likely to get approval and a decent card from them since you have built history with them.

Contributor
Posts: 89
Registered: ‎07-28-2012
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Re: Cap1 secured to unsecured

Very good info thank you.
Valued Member
Posts: 40
Registered: ‎03-17-2012
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Re: Cap1 secured to unsecured

Well I received a CLI for $100 today on my secured Capital One card! I was shocked...the email stated " Because you've arned it..." So it looks like they do graduate the secured card.


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Senior Contributor
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Registered: ‎01-24-2010
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Re: Cap1 secured to unsecured


cappucino24 wrote:

Well I received a CLI for $100 today on my secured Capital One card! I was shocked...the email stated " Because you've arned it..." So it looks like they do graduate the secured card.


That is a feature of the card (credit steps), usually after 6 months.    I never heard anyone got more than one and it still does not unsecure. ,  

Valued Member
Posts: 40
Registered: ‎03-17-2012
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Re: Cap1 secured to unsecured

ohh ok...it's been about that..I got the card in April...So they give you an unsecured credit increase on a secured card?


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Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: Cap1 secured to unsecured


cappucino24 wrote:

ohh ok...it's been about that..I got the card in April...So they give you an unsecured credit increase on a secured card?


Yes, usually based on credit improvement, I believe.     Some get it upfront, that is they get $300 limit on $50 deposit.  

It is a good sign that your credit is improving.  

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