@Anonymous wrote:
So I have a Capital One Secured Master Card that I opened 2 years ago when I started rebuilding my credit. Started at $200 limit, limit increased to $500 shortly after. It has always been paid on time and in full. Every time I call customer service regarding unsecuring this card and transitioning it to an unsecured product they always comment on the account histroy being great, but I cant get this thing transitioned to an unsecured product. They offer to let me apply for another card and close this card out, but I dont want to do that as I need to work on my age of accounts and would like to keep this account going, but just in a way that its more useful than a $500 limit card which is my lowest card limit by far. I've spoken to numerous people. I'm told this account will never unsecure. I'm told it is unsecured at random. I'm told it can be requested through a credit limit increase. I'm told its not eligible for being unsecured at this time. All of these explainations from Capital One customer service contradict one another and provide no solid path. I see all over here people with this card having it unsecured after less than a year, and here I am 2 years deep paid on time and in full always and trapped secured. Any advice on how to go about this?
Short answer: You don't
Capital One only recently started unsecuring their secured cards. The pattern demonstrated by the datapoints we have indicates that the 'current' secured card product is not the same as the 'old' secured card product. Only cards that were opened after the (unknown) date that they started offerring secured cards that unsecure can be unsecured. Everyone with one of the older cards issued before unsecuring 'was a thing' will forever remain secured. I know it's a bummer, but it's the explanation that makes the most sense.
So, best advice would depend on whether you also have an AF on your 'old' secured card product. If you do, I'd cancel the month before the AF is due. If not...well, then it becomes up to you as to whether you need your $500 back whether to cancel or not. I can tell you that if you do cancel, the positive history of the trade line will remain with you for 10 years from the closing date.
Good Luck!
