Capital One Secured Card.....unsecured CLI!!!

[Anonymous]

Hi there,

I've had my card for over 2 years and am still waiting!!!

I just spoke with a senior agent who told me they chose "proactively"...basically if your name comes up on a list in their "back office" who revivew the accounts.

This is pure BS!!! 6 Months ago I called and an agent told me that typically a card will go from Secured to Unsecured around the 1.5 year mark.

I told them I did not want my security deposit mailed...just simply applied to my account.

I put down a security deposit of $1050 two years ago.

I was transfered to 3 different agents today and finally I told them I wanted the "Security Funds" department. This is the department that increases your account once they receive payment. I don't understand why it would take soooooooooooooooooooo long!!!!!

[rootpooty]

There isn't a program for it. 3 months ago when I got serious with rebuilding my credit I almost went with them until I found out that a secured card will never graduate. I went with bofa instead and then eventually got a Navy federal secured. I wanted a secured card that graduated and after speaking with numerous reps on the phone they simply don't have a program for graduation

[Anonymous]

I had the same thing happen when trying to unsecure my secured card.

When I first applied for the secured card, I was told that I would be eligible to have my secured card unsecure after a year of good payment history.

I opened the account with the minimum deposit and received an e-mail 6 months later stating they had given me a $100 unsecured CLI. This was October '10.

When October '11 came around I called a CapOne backdoor number about graduating my secured card. I was told by that rep that I would have to wait 2 billing cycles before I could have my card unsecured.

Well I just called and spoke with a rep who couldn't help me so she transferred me to a senior account manager (or something to that effect). Both reps told me they don't graduate secured cards into unsecured, and both offered to have me submit a new application for a seperate unsecured card. I declined their offers and advised them that I have other CC's with higher CL's and that the only reason I opened a secured card with CapOne was because I was told it would unsecure after a year of good history.

This is dissapointing, and I now somewhat regret opening this secured card with them.

I am contemplating whether to close this account or not now.

[C_O_N]

I signed up for my Capital One Secured Card in 9/2012. I paid a $49 deposit for a $200 Limit and I got a $550 auto limit increase on April. I was late on about 3 payments, and they were all 1 day late (on those payments, I missed the 4pm or so cut off time on the due date). My utlization was not too low, as it was mostly around 50%. I was surprised when I checked my account online one day to see the increase. I called and was told that it was not a glitch!

[Anonymous]

Great news capital one unsecured my capOne today , I opened the account with $49 for a CL of &200 then a CL increase to $300( 6months)
And finally after 12 months they have given me a $800 CL and unsecured!

[keithB]

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@Anonymous wrote:
Great news capital one unsecured my capOne today , I opened the account with $49 for a CL of &200 then a CL increase to $300( 6months)
And finally after 12 months they have given me a $800 CL and unsecured!

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Really?  Everyone says Capital One doesn't graduate secured into unsecured.... Is this a new trend?