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I created an account solely for this post. So, in June 2012, I opened a Cap1 Secured card, got the $200 for $49 deal. (I have student loan default, and past colelctions). In October of 2012, I got a 2nd card from Cap1, assuming that on my start to creating good credit, while working on the bad, 2 cards would be better. This time, it was $99 for $200, and I added an aditional $100, making it a $301 limit. Fast forward until now. That $301 card had got a CLI of $100 after 6 or 8 months of use, but the $200 limit card never saw anything.
Well today, when I go to log in to pay my bill, I see $500+ in availble cred on the card that should have only had a $200 limit. When I look at it now, that card has been given a CLI to $750. I am not sure if that is some sort of graduation (which I was pretty certain that Cap1 doesn't do with their secured cards), but $750 seems like it would be a 'normalish' limit for an unsecured card starting out. I had looked at the card Saturday, and it was still showing the $200 limit, so that increase happened some time during this week. I am going to be looking in the mail soon to see if I get anything sent from them as well.
Bottom line though, Cap1 will do CLI on the secured cards, but sometimes with little understanding. At times, those increases can be significant. I highly recommend Cap1 for someone looking to get secured cards, as the $29 annual fee is reasonable, and the fact that they are only partially secured, at least for most applicants.
Congrats! Thanks for posting this - very helpful!
@Buddha61 wrote:I created an account solely for this post. So, in June 2012, I opened a Cap1 Secured card, got the $200 for $49 deal. (I have student loan default, and past colelctions). In October of 2012, I got a 2nd card from Cap1, assuming that on my start to creating good credit, while working on the bad, 2 cards would be better. This time, it was $99 for $200, and I added an aditional $100, making it a $301 limit. Fast forward until now. That $301 card had got a CLI of $100 after 6 or 8 months of use, but the $200 limit card never saw anything.
Well today, when I go to log in to pay my bill, I see $500+ in availble cred on the card that should have only had a $200 limit. When I look at it now, that card has been given a CLI to $750. I am not sure if that is some sort of graduation (which I was pretty certain that Cap1 doesn't do with their secured cards), but $750 seems like it would be a 'normalish' limit for an unsecured card starting out. I had looked at the card Saturday, and it was still showing the $200 limit, so that increase happened some time during this week. I am going to be looking in the mail soon to see if I get anything sent from them as well.
Bottom line though, Cap1 will do CLI on the secured cards, but sometimes with little understanding. At times, those increases can be significant. I highly recommend Cap1 for someone looking to get secured cards, as the $29 annual fee is reasonable, and the fact that they are only partially secured, at least for most applicants.
You were able to get TWO secured ones?
@Conswalla wrote:
Capital One just increased the limit on my secured card from $250 to $1000. Very unexpected but much appreciated. Wal-Mart increased my limit from $400 too $1000 as well. 👍
Oh wow! Amazing! How long have you had it?
Nearly two years in never a late payment or balance carried yet Capital One give no love :/
I've had my Capital One Secure Card since 10/2012, $99 for $200 limit. At six months, it increased to $300. This month, it increased to $750. I never paid any more deposits, and never missed a payment, usually paid in full. My dad recieved an unsolicited CLI this month too.