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

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

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.

 




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

Sounds good. Thank you so much for your advise!! : )
Contributor
glendazamot
Posts: 89
Registered: ‎07-28-2012
0

Re: Cap1 secured to unsecured

Good info Relevante. Thank you!
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
0

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

Re: Cap1 secured to unsecured

Very good info thank you.
Valued Member
cappucino24
Posts: 40
Registered: ‎03-17-2012
0

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.


Starting Score: EQ 593
Current Score: EQ (sw) 635, TU (sw) 661, EX 635 (lender pull
Goal Score: 750


Take the FICO Fitness Challenge
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
0

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
cappucino24
Posts: 40
Registered: ‎03-17-2012
0

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?


Starting Score: EQ 593
Current Score: EQ (sw) 635, TU (sw) 661, EX 635 (lender pull
Goal Score: 750


Take the FICO Fitness Challenge
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
0

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.  


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}