topic Re: NEWSFLASH: Capital One Secured MC graduation possible! in Credit Cards

NEWSFLASH: Capital One Secured MC graduation possible!

brother7 — Tue, 29 Nov 2016 17:23:24 GMT

This is my friend's card. The Secured MasterCard was her very first credit card, opened less than 1 year ago.

Opened: 12/31/2015

Graduation email received: 11/29/2016

Number of statements received: 11

Date of latest statement: 11/23/2016

Balance on latest statement: 0

Her credit profile:

Credit Karma (11/28/2016): TU 628, EQ 621

Credit cards: 2 (Capital One Secured MC 500 CL 0% utilization, Discover it 3000 CL 97% utilization)

Total accounts: 2

Collections: 0

Public Records: 0

Inquiries: TU 2, EQ 4

After receiving the graduation email, she requested a product change to Quicksilver via online chat but was informed there were no pending offers and to check back in a few weeks.

Reading the email, it sounds like the deposit will be returned as a statement credit on her next statement.

Re: NEWSFLASH: Capital One Secured MC graduation possible!

Anonymous — Tue, 29 Nov 2016 17:32:40 GMT

Pretty cool to know. Got my CS Secured last November and haven't personally heard anything, but not the end of the world. Any idea what kind of spend they were putting on it on a regular basis? I was using mine a fair bit when I first got it, but that has drastically gone down since I got significantly better cards over time.

Re: NEWSFLASH: Capital One Secured MC graduation possible!

CreditCuriosity — Tue, 29 Nov 2016 18:10:20 GMT

Glad to here Cap1 is now doing this as well... Another positive move for cap1!

Re: NEWSFLASH: Capital One Secured MC graduation possible!

gdale6 — Tue, 29 Nov 2016 18:21:26 GMT

Would be good to know if it is going to report as a new account or if the unsecured will retain the opening date of the secured.

Re: NEWSFLASH: Capital One Secured MC graduation possible!

Anonymous — Tue, 29 Nov 2016 18:38:15 GMT

That is awesome and exciting news. I have had my Secured MC for about a year now. I asked them a few months back about graduating this of a CLI and was told this card doesnt qualify. So now I have something to look forward too. Thank you for sharing :-)

Re: NEWSFLASH: Capital One Secured MC graduation possible!

brother7 — Tue, 29 Nov 2016 18:57:41 GMT

@Anonymous wrote:
Any idea what kind of spend they were putting on it on a regular basis?

For the first 1-2 months, she didn't use it at all. After that, her monthly usage ranged from 200 all the way to the limit of 500. She's never been late and always pays in full.

Re: NEWSFLASH: Capital One Secured MC graduation possible!

rmduhon — Tue, 29 Nov 2016 19:22:50 GMT

This is good news. Hubby and I both have one, his is 13 months, mine is either 11 months or a year, will have to check. Hopefully we'll get the email soon too.

Re: NEWSFLASH: Capital One Secured MC graduation possible!

rmduhon — Tue, 29 Nov 2016 19:32:34 GMT

Out of curiosity I looked at our secured accounts and noticed 'account combination'. I don't know if it's new or if I just never noticed it before. Does anyone know if that's been there all along?

Re: NEWSFLASH: Capital One Secured MC graduation possible!

Anonymous — Tue, 29 Nov 2016 21:53:33 GMT

Wow, this is quite the news. Their website documentation still says the deposit is only refundable if you close the account and nothing about graduation so this may be a bit of a rare case, however, it is very intriguing to many of us that have a secured product with them.

This may make me keep mine until February (2nd anniversary for the card) rather than closing it now, just to see if it graduates. If it does, maybe I'd try for a CLI and then combine the QS1 and Plat together.

Re: NEWSFLASH: Capital One Secured MC graduation possible!

Creditplz — Wed, 30 Nov 2016 04:23:57 GMT

Had mine for 14 months as a first card! I really can't complain... good card, good service too in my opinion.

Re: NEWSFLASH: Capital One Secured MC graduation possible!

Anonymous — Tue, 06 Dec 2016 16:53:32 GMT

Thanks for the good news!!! My card jus hit 6 months today, this gives me hope.

I wonder what the requirements are to be upgraded, and is Cap One finally changing their rules for unsecured cards.

Re: NEWSFLASH: Capital One Secured MC graduation possible!

Anonymous — Tue, 06 Dec 2016 19:11:20 GMT

Im assuming the requirements are just that you have made all your payments on time and arent carrying a high balance. But Again thats an assumption. Im going to call and ask. Ill let you know what they say.

Re: NEWSFLASH: Capital One Secured MC graduation possible!

Anonymous — Tue, 06 Dec 2016 19:44:11 GMT

Yeah that and I probably need to have it for at least a year.

I wanna know if this is a legit thing now or just a rare case. This person got lucky.

Let me know what they say.

Re: NEWSFLASH: Capital One Secured MC graduation possible!

Anonymous — Fri, 09 Dec 2016 16:36:44 GMT

Wow this is very interesting. I was getting ready to close mine. I opened it in October 2015. Should I call them? Or just keep it open for a few more months hoping I get graduated automatically?

Re: NEWSFLASH: Capital One Secured MC graduation possible!

Anonymous — Fri, 09 Dec 2016 16:56:41 GMT

You have had the card over a year now so you should be a shoe in to PC to a platinum or a quicksilver. Im calling them right now to get some more info on this. I was supposed to do it ages ago but I forgot. smh

Re: NEWSFLASH: Capital One Secured MC graduation possible!

Anonymous — Fri, 09 Dec 2016 17:15:40 GMT

Ok so heres what I got from the folks at cap one. Basically this is a new program they are offering. But only on an account by account basis. So you wont be able to do it until they actually send you the offer. They havent sent it to me so I wasnt able to. But she said to just hold on and wait and to just make sure my acct is in good standing. Hope they send me the offer soon! I am so ready to get rid of this card. The limit is so low I cant really do anything with it.

Re: NEWSFLASH: Capital One Secured MC graduation possible!

Anonymous — Fri, 09 Dec 2016 17:48:59 GMT

@Anonymous wrote:
Ok so heres what I got from the folks at cap one. Basically this is a new program they are offering. But only on an account by account basis. So you wont be able to do it until they actually send you the offer. They havent sent it to me so I wasnt able to. But she said to just hold on and wait and to just make sure my acct is in good standing. Hope they send me the offer soon! I am so ready to get rid of this card. The limit is so low I cant really do anything with it.

Thanks! I guess I'll hold on and hope they do it for my account.

Re: NEWSFLASH: Capital One Secured MC graduation possible!

Aduke1122 — Fri, 09 Dec 2016 19:31:07 GMT

Great news My fiancé has this card , he got an increase of 300 dollars after 6 statements and the card is now 10 mths old , almost always pay in full and use it alot , it's nice to know they are changing their ways with the secured card products !

Re: NEWSFLASH: Capital One Secured MC graduation possible!

Anonymous — Sat, 10 Dec 2016 17:57:32 GMT

Well I requested a CLI on my card, which I knew would be denied since they don't give out customer-requested CLis on the secured card, but wanted to see if maybe it'll get my account noticed enough to get my deposit back and graduate the card. We'll see. Have had the card for 14 months, but haven't used it since August.

Re: NEWSFLASH: Capital One Secured MC graduation possible!

Aduke1122 — Sat, 10 Dec 2016 18:54:38 GMT

Let me know how it plays out LAKings , I was going to cancel ours at the year mark next mth bc it doesn't serve us any purpose anymore