topic Re: Remember that secured Capital One change a while back? in Credit Cards

Remember that secured Capital One change a while back?

Anonymous — Sun, 21 Feb 2016 01:30:15 GMT

So, what was the terms for that again. I haven't noticed much of a difference but isn't it supposed to be around that time that the cards have been updated?

I forgot the complete terms on it but basically the change was you could no longer pay your way to a higher credit score. Didn't the letter say something about how it was supposed to be better because it would be able to offer the customers more?

Well I tried to do an increase request and I got a letter back stating that secured cards cannot request unsecured credit limit increases...

I was kind of confused.

Re: Remember that secured Capital One change a while back?

Anonymous — Sun, 21 Feb 2016 02:16:47 GMT

They won't let you increase your credit limit with additional deposits anymore.

As for what they WILL do with the secured offering, it's not yet been all that clear for anyone. They don't allow customers to request increases but that doesn't mean they won't do unsecured increases, just that they can't be requested. However, I've yet to see a report of someone getting a CLI after Credit Steps on a secured card -- maybe we'll start seeing some data points on that upcoming.

I haven't seen anyone report being able to combine a secured card into another card they hold either. Still holding out hope for additional data points on that because the CS reps are all over the place with that one -- some say it could become eligible and others say it won't, that sort of thing.

The only thing I know of that has actually changed is the removal of the ability to increase credit limits with deposits, and the new Builder Program card.

Re: Remember that secured Capital One change a while back?

dfitzg — Sun, 21 Feb 2016 04:35:23 GMT

I closed my secured card 2 days ago, applied for an unsecured and got approved. Ill wait for credit step to kick in the maybe merge with my other card

Re: Remember that secured Capital One change a while back?

Anonymous — Sun, 21 Feb 2016 04:56:08 GMT

So you got the money back?

I'd cancel, I could probably get a QuicksilverOne, but it's got a $39 fee and I don't really like the name QuicksilverOne, for some reason it feels like it has a cheaper name.

It just doesn't sit right with me.

I would get another Platinum, but really that would just be pointless because I already have one.

Re: Remember that secured Capital One change a while back?

ryox03 — Mon, 22 Feb 2016 02:37:33 GMT

Just to add information to the thread. I cancelled my secured card not long ago but got the check whithin 10 days.

Re: Remember that secured Capital One change a while back?

Anonymous — Mon, 22 Feb 2016 03:04:13 GMT

Lots of people (myself included) have been able to get a Platinum upgraded to a Quicksilver without AF after the second or third statement cuts by using the online chat function. It's all just marketing, but if I didn't know better, I might assume QuicksilverOne was the better of the two cards.

Re: Remember that secured Capital One change a while back?

Anonymous — Mon, 22 Feb 2016 08:19:29 GMT

One branding is the marker of having had average credit.

Re: Remember that secured Capital One change a while back?

Anonymous — Mon, 22 Feb 2016 08:57:53 GMT

@Anonymous wrote:
One branding is the marker of having had average credit.

Being "marked" as having (or having had) average credit is not the worst thing in the world. Perhaps this whole Capital One thing is just beneath you high standards. Maybe you should skip it all together and just go for the American Express Platinum card. That's sure to impress the impressionable.

Re: Remember that secured Capital One change a while back?

Anonymous — Mon, 22 Feb 2016 13:10:17 GMT

@Anonymous wrote:
Lots of people (myself included) have been able to get a Platinum upgraded to a Quicksilver without AF after the second or third statement cuts by using the online chat function. It's all just marketing, but if I didn't know better, I might assume QuicksilverOne was the better of the two cards.

Just got it done this morning and put the following post up with all the gory details. I love Cap1. I was very sour on them for several yrs for several reasons. I had a card with them several yrs ago and they would never increase my limit. It was a $500 card and I routinely ran it up to 2k every month (didn't have this forum for info. Some mths I would pay several times and others I would just run it up cause I ws pissed and wanted to make them know I was able to handle higher limits but it never worked) and paying the over limit fees. Then I lost my job and defaulted on the balance. It went into collections and then tehy got a judgement against me.

After reading the forums here I decided to give the pre-qual site a shot and was approved for both QS1 & Plat and took them. Results of my PC from Plat to QS are in the following link;

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Cap1-Platinum-Upgrade-1st-Statement/td-p/4467249

Re: Remember that secured Capital One change a while back?

dfitzg — Mon, 22 Feb 2016 13:29:13 GMT

Waiting on the check to come in the mail.