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

How long does it take for Cap1 secured card to convert to unsecured? Just wondering, I just got mine in July and been paying the balance off.

Thanks
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Cap1 secured to unsecured


glendazamot wrote:
How long does it take for Cap1 secured card to convert to unsecured? Just wondering, I just got mine in July and been paying the balance off.

Thanks

Cap1 does not unsecured their secured cards. You have to close and app for another one unfortunately. Their reps will tell you they do but they are misinformed.

 

(unless policy has changed recently) :smileyvery-happy:

 




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Contributor
glendazamot
Posts: 89
Registered: ‎07-28-2012
0

Re: Cap1 secured to unsecured

Wow really? Is that even legal? When I got mine the rep told me that within a year it should be unsecured. Wow, just wow.
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Cap1 secured to unsecured

[ Edited ]

glendazamot wrote:
Wow really? Is that even legal? When I got mine the rep told me that within a year it should be unsecured. Wow, just wow.

LOL the rep told me the same thing then 8 months into it "no, sorry we do not unsecure"

 

I said take my deposit and pay the balance and close it. It really made me mad too. It was really false advertisement.

 

If your looking for a good secured card that will graduate to unsecured BofA is a very good option.

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Contributor
agforfree5
Posts: 109
Registered: ‎09-26-2012
0

Re: Cap1 secured to unsecured


glendazamot wrote:
How long does it take for Cap1 secured card to convert to unsecured? Just wondering, I just got mine in July and been paying the balance off.

Thanks

The Cap1 Secured card does not "Graduate / Upgrade" to an Unsecured card. Trust me, I have called them several times with the same question. Your best option is to build your credit with the secured & close it down. Then apply for a new Unsecured card - (Cap 1 Platinum or Classic perhaps).

Contributor
agforfree5
Posts: 109
Registered: ‎09-26-2012
0

Re: Cap1 secured to unsecured

Wow.. Did not realize so many people had already responded.

Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Cap1 secured to unsecured


agforfree5 wrote:

glendazamot wrote:
How long does it take for Cap1 secured card to convert to unsecured? Just wondering, I just got mine in July and been paying the balance off.

Thanks

The Cap1 Secured card does not "Graduate / Upgrade" to an Unsecured card. Trust me, I have called them several times with the same question. Your best option is to build your credit with the secured & close it down. Then apply for a new Unsecured card - (Cap 1 Platinum or Classic perhaps).


I wouldn't waste 3 HP's. Take your business to Discover or Chase or any prime lender.

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Contributor
glendazamot
Posts: 89
Registered: ‎07-28-2012
0

Re: Cap1 secured to unsecured

Well I guess is too late now but I only have one secured card. Should I open another one with BOA? I am also listed as an AU on my moms cc from Walmart.
Contributor
agforfree5
Posts: 109
Registered: ‎09-26-2012
0

Re: Cap1 secured to unsecured

HPs ?

Contributor
glendazamot
Posts: 89
Registered: ‎07-28-2012
0

Re: Cap1 secured to unsecured

I think he means hard pulls from your credit.

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