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Posts: 201
Registered: ‎06-22-2013
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Re: Capital One secured card conversion

[ Edited ]

svarela83 wrote:

MJ0628 wrote:

Well, I got my hopes up a little on that one. I was surprised when they responded with that message. Thanks for the help. I won't be holding my breath for it to unsecure lol.



I was combing through all these threads searching to see if they actually graduate there secured cards.  This is directly from capital one's website.


Increase your Capital One Secured Credit Card initial credit line

Your minimum security deposit gets you a $200 initial credit line. All deposits must be made before your account opens. Your account will open when your total deposits meet or exceed your required security deposit. You may deposit more than your required security deposit to raise your initial credit line, all the way up to your maximum approved credit line. You may also earn a credit line increase based on your payment history and creditworthiness.


It seems as though they do not graduate secured card but they peridoically raise you credit limit.  Makes no sense. I have a secured card with capital one and I clicked on the cli.  I will let you know the outcome.


Good luck! This was my first credit card. When I applied for it, I was under the impression that it would graduate to an unsecured card. After a few years of calling, secure messaging, and searching here, I finally closed the card. With such a high APR, an annual fee, and low CL, it didn't make sense to keep it open. 


When Capital One allowed cardholders to merge accounts online, I was very excited. When I learned that Capital One doesn't merge secured cards with unsecured cards, I closed the secured card on the spot. That was the last straw. 


On a more positive note, if you are willing to pay the annual fee year after year, Capital One will increase your credit limit every so often. I started at $200 ($49 deposit) and ended at $750 after a few years. The moment I was approved for another credit card (6 months later) I sockdrawered my Capital One Secured card. I wouldn't recommend that card to anybody. 


I'm still waiting for my deposit...

Age: 20s | AAoA: 2 yrs | FICO Scores: 700s | Inq: EX: ?, EQ: ?, TR: ? | GARDENING AS OF 06/2014

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