CapOne Secured Deposit Reduction Possible?

[Anonymous]

I plan on apping for an unsecured CapOne once my BoA secured auto graduates. Originally, I planned on closing the secured CapOne (2+ yrs at 1k, PIF every month and no lates) but now I'm considering just reducing the deposit and leaving it open with a small limit of $300 to give to my niece for emergencies. I have her as an auth user on that card to help her establish a history.

Does anyone know if CapOne will do a partial deposit refund?

[JamP]

I doubt that cap1 does that. But I have seen a credit line decrease.

How can I request a decrease to my credit limit?

If you'd like to request a lower credit limit, just send us a secure message at any time (be sure to include the new credit limit amount you're requesting). You can also make your request over the phone by calling 1-800-955-7070, 24 hours a day seven days a week.

They may give it back if you request a decrease.

How old is your niece? The new secured card is no annual fee now.

It would be good for her to build her credit also.

http://www.capitalone.com/credit-cards/secured-mastercard/?Log=1&EventType=Link&ComponentType=T&LOB=...

[Anonymous]

Thanks, for the suggestion.  I called CapOne this afternoon and they said they can only close the account not reduce the deposit.  Maybe I'll close the tradeline and have her app on her own.  She turned 18 in Jan and I have had her as an AU for about 6 mos now but I have never given her the cards.  I thought it would be better to not give her the cards just yet.  I didn't know they went no fee that was a suprise since I just paid this years AF in May.