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Cap1 secured. How long should I wait

Established Member

Cap1 secured. How long should I wait

How long should I wait before applying for an unsecured card with them?  Ive only had it for 2 months.  It actually hasnt even started reporting yet but I was just wondering for my own knowledge.  I dont really care about that card ever actually unsecuring if it will at all. I would just rather keep it and apply for another.  Thanks


Starting Score: 541
Current Score: 580
Goal Score: 620


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9 REPLIES
Valued Member

Re: Cap1 secured. How long should I wait

What are your scores?Baddies?


Starting Score: 500(06/11)
Current Score: 645 (04/12)
Goal Score: 680


Cap 1-500, best buy MC-300, orchard bank MC-300, first premier-300, amazon-600. All new since July '11 no late payments and carry no balances.

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Established Member

Re: Cap1 secured. How long should I wait

terrible.  mid 5s.  only baddies are old ones im just kinda waiting to fall off.  only have 2 cards right now just for rebuilding.  both of which are secured. one at 35% util other at less then 10%


Starting Score: 541
Current Score: 580
Goal Score: 620


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Contributor

Re: Cap1 secured. How long should I wait


cda710 wrote:

What are your scores?Baddies?


Agreed - need way more info. You can always check: https://findmycard.capitalone.com/PageVersions/LandingPages/LP_UNS_MS_V02.aspx Others will certainly be more knowledgable than I, but I'm not wasting a hard pull until they tell me I'm preapproved.

Starting Score (08/22/11): TU: 510 / EQ: 512
Current Score 07/11/14 TU: 658 / 07/11/14 EQ: 669 / 07/14/14 EX: 664
Goal Score: 720+ across the board!


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Established Member

Re: Cap1 secured. How long should I wait

ha they pre approved me for the same secured card i already have.  I suppose im not ready until i can get preapproved.


Starting Score: 541
Current Score: 580
Goal Score: 620


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Valued Contributor

Re: Cap1 secured. How long should I wait


sleepingiant wrote:

ha they pre approved me for the same secured card i already have.  I suppose im not ready until i can get preapproved.


Ha, they did the same for me after they PRM softed EQ...heck I'd even take it but I'm pretty sure they'd do another HP. No thanks

Scores 5/15/2016 (clean reports!): TU Walmart FICO: 696 | EQ FICO: 679 | EX AMEX FICO: 680

In my new wallet: American Express Green EMV: PSL $2000 | BankAmericard Cash Rewards Visa EMV: $2500 | Citi AAdvantage Platinum Select World MasterCard: $6400 | Barclaycard Arrival World MasterCard: $1000 | Discover IT: $2500 | Amazon Rewards Visa Signature: $1500 | Chase Freedom: $1500 | Capital One QuicksilverOne MasterCard: $2100 | Target: $2800 | J.Crew $21,550 | Marvel (Captain America) MasterCard: $6000
Regular Contributor

Re: Cap1 secured. How long should I wait

Hi, I got my secured card on June 2011 and let 4 statements cut. I applied for the platinum(unsecured) card. I was approved instantly with 500 limit. I suggest you keep the secured active for 6 months to an year. You will be in great shape for prime card. Capital one will pull three hards, not worth it.
Valued Contributor

Re: Cap1 secured. How long should I wait


bodybuilder510 wrote:
Hi, I got my secured card on June 2011 and let 4 statements cut. I applied for the platinum(unsecured) card. I was approved instantly with 500 limit. I suggest you keep the secured active for 6 months to an year. You will be in great shape for prime card. Capital one will pull three hards, not worth it.

Agreed on this one.. I had my CapitalOne secured now for about 18 months and I think I am going to start apping soon for prime cards.

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
New Contributor

Re: Cap1 secured. How long should I wait


sleepingiant wrote:

ha they pre approved me for the same secured card i already have.  I suppose im not ready until i can get preapproved.



Funny you say that. Im in the exact same boat but they ended up sending me a letter (No HP). They said I just opened a new accont with them and need to wait before applying for something else. So yeah, as everyone said I guess we'll have to wait the 6 months before applying for something else.


Starting Score: EQ 489 1/2012 TU 493 1/2012
Current Score: EQ 547 5/2012 TU 562 5/2012
Goal Score: 700


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Regular Contributor

Re: Cap1 secured. How long should I wait

I was approved for the secured Cap1 card back in Feb 2012 with $200 CL. After reading several posts from many readers, I did a little research to determine which card I would most likely have a chance of being approved for and finally decided on the Cap1 Cash Rewards card. I'll admit that I was a little concerned about giving up a HP on an attempt so early in the game but I am glad I took the leap of faith. I was instantly appoved with a 3K CL! I was THRILLED! I feel like I am making progress...but still have a LONG way to go! So don't give up! Before you know it, you will have the choice of telling THEM "NO" if you want to!!!

Cards: AMEX Zync NPSL, AMEX BCE, NFCU LOC $15K, NFCU Visa Signature cashRewards $14K, NFCU Flagship Visa Signature $14K, USAA Platinum M/C $3.5K, USAA AMEX $2K, Capital One Cash Rewards $3.5K, WalMart $10K, Lowes $10K, Home Depot $8250, Amazon $4K, Discover IT $1K

Starting Score: EX: 570 EQ: 520 TU 602
Current Score: AMEX EX:717 MyFico EQ 688 Walmart TU 749 MyFico TU 740
Goal Score: 750+ across the board


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