Reply
Established Member
KevinBlock55
Posts: 74
Registered: ‎07-10-2012
0

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
proudnavymom
Posts: 240
Registered: ‎11-29-2008
0

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

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}