Capital One Secured Card Credit Limit INCREASE!!

[Buddha61]

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.

[RedHairedLady]

Congrats! Thanks for posting this - very helpful!

[Amandan824]

I just received my first credit limit increase on 4/29 for $500 after having the card for 2 years almost! It was only a $250 limit. Feels good to be rewarded finally!

[Whitneyy]

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@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.

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You were able to get TWO secured ones? 

[Conswalla]

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. 👍

[Whitneyy]

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@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. 👍

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Oh wow! Amazing! How long have you had it?

[Buddha61]

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@Whitneyy wrote:

You were able to get TWO secured ones? 

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Yes.

[Ragelog]

Nearly two years in never a late payment or balance carried yet Capital One give no love :/

[sistasweetpea]

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. 

[broughtb]

I created an account just to post....I was really skeptical of secured cards and if they would help at all, but I went for it 6 months ago and had to pay the full $200 for a $200 credit line.

I just hit 6 months yesterday, and apparently Capital One decided to give me a $300 increase. I had to call them to make sure there wasn't some sort of error. I have made sure to use the full $200 each month, with a full payoff before the due date.

I'm really amazed and surprised. Hopefully good things will continue!