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

[mrmagic9799]

Ok, so I just got an email saying they've given me a $300 unsecured increase.. Logged in to my account and there it was.

[FicoTron]

can you let us know what your situation was w/ the card?  Initial deposit or current limit with card before the $300 increase?  How long did it take?

[mrmagic9799]

Sure, my initial deposit was $300 back 8/10 just to see how the cards worked for me.
Then 11/10 I upped the deposit by $1700 bringing my omit to $2000.
I PIF every month only letting 4-6% reflect on my statement, then pay that off.

[FicoTron]

still waiting for my CLI...just want to keep this thread alive for others who have gotten theirs...

[JayRizzo]

Hang in there, cflinkman. 

[stone4779]

I got my Capital One card back in December with a $300 limit (unsecured thankfully)

I have a Bank of America card with a $2500 limit and a Chase card with a $2400 limit, but these guys only give me a $300 limit?

What gives? I havent missed a single payment on anything since 2005.

Pretty crappy

I have been debating whether or not I should cancel this card once I get one from someone else...

The fee is the only thing making me second guess..if it was free then I would just keep it..

Ive gotten 4 statesments so far...I had called and they said just wait for the 7th OR 10th billing statement and they may or may not do an automatic CLI..

Im going to give it til new years and if its not at least a $750 limit by then Im canceling it after getting something free and better

[FicoTron]

If I were in that position I would get rid of the card now...it is bringing you down as far as I'm concerned.  Your AAoA is getting dinged for a credit line you don't even need.  I would dump it and apply with a CCC that offers higher original limits like the two you have.  I'm not in that boat yet but when I am, I will get rid of my Orchard Gold Card ($320).   And possibly even the Cap1 card if they don't boost me up at least over $1000. (I'm at $500 now).

[stone4779]

well right now i am still working on the last few baddies on my report... i have two COs and two oldddd student loans i want to get off before apping because i want to shoot for big limit low interest cards.. plus i need to get my util down..waiting for my tax refund.. i figure leave it there until i get that stuff taken care of then close it n wait a month then shoot a couple apps out later in the year.. the capones a good starter card, thats it tho

[2000ExplorerXLS]

Looking at my credit report, my card first reported on Feburary of 2011. So I have 4 months of PIF. I had to do a 49 deposit and they gave me a 200 CL. Anyone seeing there cards go to unsecured at 6 months?

[Anonymous]

I've had their secured card since December, ended up increasing it all the way up to the $3k limit (so they have $2,849 of my money). In the last week, I've called them twice and spoke to two different reps on the phone - one was a regular front line rep, one was a 'Senior Account Manager' or something like that. Both told me that the card won't ever unsecure, and the senior rep said that if I wanted, I could deposit more money into it, even above the stated $3000 limit.

Which of course contradicts what I was originally told on the phone, which wast that it would unsecure after 8 months.

So, needless to say, I'll be cancelling that card as soon as I pay it completely off. I'm not going to have them sit on almost $3k of my money indefinitely and charge a high APR for the use.

YMMV though. Give them a call and ask about it. I know I was dumbfounded about the answer. When I'd previously inquired (back in December when I originally signed up for it) I was told that there's no guaranteed length of time, but that their estimate was at least 8 months. And now 6 months into this, I find out that they're just going to sit on my money indefinitely. Should have gone through Citi or BofA instead. Or even Orchard, at least their APR is low (7.9% for secured cards, IIRC).