Established Member
Posts: 74
Registered: ‎07-10-2012

Capital One Secured Card

Hey everybody, I wanted to know what everyone's experience is with Cap1's Secured Card. To give some background, I am new to posting on here and appreciate the help you have all given. My experience is a little unique, from what I've seen. I opened a Secured Card with Cap1 back in April '12 in which I paid the $99 to obtain a $200 credit line. In June, I added an additional $100 to the credit line. While I have used the card almost to its limit, it has never reported with a balance more than 10%, and has always reported a small, even if minimal, balance. On October 1st, I contact Cap1 asking if they ever offered "unsecured CLI" which I was told, "no" and that I could only increase the credit line with a secured deposit. The next morning, I woke to an email from Cap1 letting me know they had granted a CLI "unsecured" for another $100. This means I now has a $400 credit line, for which I have $199 of it, secured. Has anyone else received Unsecured CLIs with this card?
Regular Contributor
Posts: 240
Registered: ‎11-29-2008

Re: Capital One Secured Card

I can't remember what the exact terms where when I opened my Capital One secured credit card account, but I opened it in July 2011.  I made an additional deposit to bring the credit line to $500.  On about my one year anniversary I got a letter from Capital One saying that due to my good use of the card, etc. they were going to increase my CL $100 which would not require an additional security deposit.  Since then I have added another $500 security deposit, so now my credit line is $1100.  I have been very pleased with my Capital One Secured Card and have kept the reported balance under 10%, but on some months have made heavy use of the card, just didn't let it report that high balance. 

Starting Scores TU 7/30/09 FICO 493 EQ 9/5/10 FICO 477 EX 11/14/2011 (lender pull) 575
Current Scores TU 5/31/2014 FICO 671 EQ 7/5/14 FICO 667 EX 5/31/2014 658 FICO
Goal Scores 700 across the board

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