topic Re: Cap 1 secured - PC possible? in Credit Cards

Cap 1 secured - PC possible?

_NERD — Mon, 10 Aug 2015 09:17:56 GMT

I opened a secured Cap 1 Platinum in late April or early May. I have the new chipped card. Is it possible to PC it to something else? I don't want to make deposits but would like to see a higher limit than $300.

Thanks.

Re: Cap 1 secured - PC possible?

gibeon — Mon, 10 Aug 2015 12:29:01 GMT

They won't PC or Graduate the secured card.

You will likely prequal for a QS1 within a few months of opening the secured card, if you treat it right.

Also, they do give unsecured CLIs on the secured card starting around six months, but they aren't huge.

Re: Cap 1 secured - PC possible?

Anonymous — Mon, 10 Aug 2015 12:36:43 GMT

With you current scores, you should be able to get a regular CAP 1 Ccard. If I were in your shoes, I closed the secure and just apply for a regular card.

Re: Cap 1 secured - PC possible?

_NERD — Sun, 16 Aug 2015 13:35:20 GMT

I have the QS1. I want to close the secured card and get another unsecured Cap 1 card. I'm gardening with 7 new revolving accounts I've opened since May/June/July and trying to get my balances down to 0 ($2 on one CC). I also want my accounts to age a little before opening new TL's.

Life is tough for this rebuilder.

Re: Cap 1 secured - PC possible?

Anonymous — Sun, 16 Aug 2015 13:41:26 GMT

@ShortBus wrote:
I have the QS1. I want to close the secured card and get another unsecured Cap 1 card. I'm gardening with 7 new revolving accounts I've opened since May/June/July and trying to get my balances down to 0 ($2 on one CC). I also want my accounts to age a little before opening new TL's.

Life is tough for this rebuilder.

7 accounts is enough to rebuild

Re: Cap 1 secured - PC possible?

Anonymous — Sun, 16 Aug 2015 14:07:01 GMT

You can close the secured. Wait 31 days, then apply for another Cap1.

It will take at least 31 days for your account to be officially, OFFICIALLY noted as closed so that you may be prequalified for another card even though the instant you close it, it will appear as CLOSED on your mobile/web Cap1 account.

IF you apply before then, the likelyhood of denial is high. It will be listed as "having too many Cap1 accounts"

Mmmhmm. I love me some credit card prequalify web pages.

Re: Cap 1 secured - PC possible?

Anonymous — Sun, 16 Aug 2015 17:24:13 GMT

@ShortBus wrote:
I have the QS1. I want to close the secured card and get another unsecured Cap 1 card. I'm gardening with 7 new revolving accounts I've opened since May/June/July and trying to get my balances down to 0 ($2 on one CC). I also want my accounts to age a little before opening new TL's.

Life is tough for thisrebuilder.

Have you considered applying for one of the lower tier Barclay cards like Apple Rewards, Rewards MC, or NFL card? In a few months, yours scores will probably be high enough to qualify. It is only 1 HP on TU rather than 3 for Cap 1 since you already have a QS1. I have the secured Cap 1 card and the prequal shows me the QS1. I don't want to spend 3 HPs for a $500 SL card. Instead I plan to wait a few more months and apply for the Rewards MC again. I plan to keep the secured card for 18 months and when/if my secured Discover unsecures, then I will close that account.

Re: Cap 1 secured - PC possible?

_NERD — Wed, 19 Aug 2015 00:56:09 GMT

Thank you all for your advice. I plan on gardening for a while. I will close the secured card later on when I go up for another Cap 1 card.

Does my AAoA include closed accounts that are in good standing? CK doesn't seem to be including my closed accounts and shows my AAoA as 2 months EQ and 5 months TU (age of credit history).

Re: Cap 1 secured - PC possible?

_NERD — Sun, 23 Aug 2015 05:03:42 GMT

I read in other threads that some members here are given CLI's on the Cap 1 secured card. Is that really happening?

Re: Cap 1 secured - PC possible?

OmarGB9 — Sun, 23 Aug 2015 05:39:52 GMT

It sometimes happens.

Re: Cap 1 secured - PC possible?

Anonymous — Sun, 23 Aug 2015 13:59:42 GMT

They upped my credit limit on my secured card from $200 to $500 after six months. After just two months of having the secured card though, I got approved for the Capital One Sony Card and the Capital One Quicksilver One both with $500 credit limits, which now are both $1,100 credit limits. So I have 3 Capital One cards - I've heard that's the maximum number they'll give you so I haven't applied for any more.

Re: Cap 1 secured - PC possible?

WLRK11 — Mon, 24 Aug 2015 02:41:22 GMT

@ShortBus wrote:
I read in other threads that some members here are given CLI's on the Cap 1 secured card. Is that really happening?

Yes! They will not graduate the card to an unsecured version though. I tried for a few years before finally closing it last month after they wouldn't combine the credit line with an unsecured card.

Re: Cap 1 secured - PC possible?

Anonymous — Mon, 24 Aug 2015 02:46:06 GMT

I got the platinum. Closed my secured. PC'd the platinum to the Quicksilver. Not QS1 but not visA sig either. I love my mutant MasterCard. Next step is CLI.

There's many different ways you can approach this.