topic Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY! in Credit Cards

CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 18:21:41 GMT

Just thought I shared some good news about my credit journey, my secured card Cap1 just graduated today. I logged into my account earlier and noticed that I got a credit balance of $200, it was indeed a refund issued for the deposit. I was suprised to receive the credit first before any email confirmation, just got the email right now and it makes it all official that I have indeed now graduated to a regular Platinum Mastercard, next goal is to request that upgrade to a rewards earning QS1.

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 15:03:08 GMT

Congrats!

Don't forget you can now go to the Product Change link on this sub and see if you can convert it to a QS cashback card.

How many statements cut before upgrade?

Also I'm not sure if it's recommended but some people suggest doing a CLI request online before product change request.

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 15:06:35 GMT

@Anonymous wrote:
Congrats!

Don't forget you can now go to the Product Change link on this sub and see if you can convert it to a QS cashback card.

How many statements cut before upgrade?

Also I'm not sure if it's recommended but some people suggest doing a CLI request online before product change request.

Thank you ABCD2199, it was 11 statements in total. About the CLI request, I have not read any success stories of successful CLI's post graduation, so I may need to wait it out a bit. Perhaps wait till the 12th statement cut and will try for the CLI in order to provide some more data points for anyone interested. See what happens.

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

CreditCuriosity — Fri, 18 Aug 2017 15:09:33 GMT

Congrats.. Don't hear about many Cap1 Secured card graduations.. Enjoy it!

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 15:09:47 GMT

Capital One's CLI is a soft pull so it's no danger there. And the product change is also free of hard inquiries and keeps your account age (and I think number too).

11 statements is good! I got approved for my Capital One secured in March 2017 but I didn't fully fund it until the deadline (July 2nd) so my first statement wasn't until July. I figure I won't get unsecured for 11 statements which will be somet time in June! Since I have cash back cards now, I don't use my Platinum secured at all, and $3000 sits in secured deposit. Once it unsecures I will combine it with my QS to get a bigger credit limit for sure.

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 15:14:32 GMT

@CreditCuriousity wrote:
Congrats.. Don't hear about many Cap1 Secured card graduations.. Enjoy it!

Thank you CC, I know, I have been lurking here for a while and the last post I've seen about this subject was in March so I figured a new update will provide some more people with hope of it being an actual possibility.

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 15:19:39 GMT

@Anonymous wrote:
Capital One's CLI is a soft pull so it's no danger there. And the product change is also free of hard inquiries and keeps your account age (and I think number too).

11 statements is good! I got approved for my Capital One secured in March 2017 but I didn't fully fund it until the deadline (July 2nd) so my first statement wasn't until July. I figure I won't get unsecured for 11 statements which will be somet time in June! Since I have cash back cards now, I don't use my Platinum secured at all, and $3000 sits in secured deposit. Once it unsecures I will combine it with my QS to get a bigger credit limit for sure.

I will try, BTW I donated to the Charity linked to Alliant per your suggestion. Just waiting for my account to age another month so my longest credit would reflect 12 mos. as opposed to 11 before applying for the secured loan. As for this Platinum, I think the usage did help me to get the card to graduate. I never really put any large spend on it besides using it to get my reports occasionally and Netflix subscriptions since I acquired some cashback cards, but kept using it for small purchases. You probably will have that card graduate in June. I will update you with whatever happens to my CLI request.

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

pizza1 — Fri, 18 Aug 2017 15:23:08 GMT

Hey thats great!! Congrats on the upgrade for sure!! PC that to the QS!! Enjoy, this will open up doors for you.

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 15:28:55 GMT

So I tried the CL Increase but it's a no go. Interesting reason though

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 15:32:32 GMT

@pizza1 wrote:
Hey thats great!! Congrats on the upgrade for sure!! PC that to the QS!! Enjoy, this will open up doors for you.

Thank you P1, when I spoke to CS they said that they review accounts periodically and was asked to check back for any offers to PC that to the QS. Is that true? Did I really need to wait for an offer? Is it too early to request for it?

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 15:32:37 GMT

Did they give you a CLI on graduating?

Good call on the installment loan delay -- AAoA is important, staying over 12 months is probably wise. And then they will age together nicely.

I'm not in a rush for Capital One to graduate me -- the card is sock drawered and if it does graduate I only will use it to combine to increae my overall limits with Capital One. I'm hoping that by the time it does graduate, I can actually qualify for Citi DC and sock drawer the QS as well, haha. It's still nice to go from pretty much no credit in March to $13,000 of credit in August and hoping it'll be triple that by next year -- and I have DIscover and Capital One to thank for letting me back in the door with poor FICO08s.

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

pizza1 — Fri, 18 Aug 2017 15:37:20 GMT

@Anonymous wrote:
@pizza1 wrote:
Hey thats great!! Congrats on the upgrade for sure!! PC that to the QS!! Enjoy, this will open up doors for you.
Thank you P1, when I spoke to CS they said that they review accounts periodically and was asked to check back for any offers to PC that to the QS. Is that true? Did I really need to wait for an offer? Is it too early to request for it?

I would think now that your card has unsecured (make sure it shows it online first), that you could call or chat and ask to PC your current card to the QS. If they say no, wait a few weeks until the dust settles from your card getting graduated, then call back again.

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 15:38:46 GMT

@Anonymous wrote:
Did they give you a CLI on graduating?

Good call on the installment loan delay -- AAoA is important, staying over 12 months is probably wise. And then they will age together nicely.

I'm not in a rush for Capital One to graduate me -- the card is sock drawered and if it does graduate I only will use it to combine to increae my overall limits with Capital One. I'm hoping that by the time it does graduate, I can actually qualify for Citi DC and sock drawer the QS as well, haha. It's still nice to go from pretty much no credit in March to $13,000 of credit in August and hoping it'll be triple that by next year -- and I have DIscover and Capital One to thank for letting me back in the door with poor FICO08s.

Those are trully great strides you're making there. WOW! 13K of total credit within a few mos. is amazing. Thanks for sharing! Some things they said when I asked them months back about the possibilities of graduating the card, they said that they look at lot on the spend you put on the card as well as the regular payments you are making. But I guess since you have another Cap1 card, they might graduate you based on your activity and history with the QS probably.

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 15:46:54 GMT

When I applied for Cap1 in March I had FICO08s around 550, ouch. I did their prequalification page and was approved for either the Platinum unsecured or the secured. I went secured because a $3000 secured card is better than a $300 unsecured card.

I was told here to wait 6+ months to apply for my second Cap1 card but I ran the prequal after the 5th statement cut and was approved for a QS1 with AF. Decided to just jump on it at 5 months and approved for a $500 toy card limit. but I'm not stressed because I know Cap1 grows pretty quickly for most. And I have a high net worth and income so I definitely put a lot through my cards every month but always PIF.

Downside is I can't be loyal to Cap1 for long -- once a better rewards card approval comes along, Cap1 will end up in the sock drawer, but I can still be thankful they took a chance on me and helped me rebuild. Also their customer service so far has been amazing!

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 15:55:07 GMT

@Anonymous wrote:
When I applied for Cap1 in March I had FICO08s around 550, ouch. I did their prequalification page and was approved for either the Platinum unsecured or the secured. I went secured because a $3000 secured card is better than a $300 unsecured card.

I was told here to wait 6+ months to apply for my second Cap1 card but I ran the prequal after the 5th statement cut and was approved for a QS1 with AF. Decided to just jump on it at 5 months and approved for a $500 toy card limit. but I'm not stressed because I know Cap1 grows pretty quickly for most. And I have a high net worth and income so I definitely put a lot through my cards every month but always PIF.

Downside is I can't be loyal to Cap1 for long -- once a better rewards card approval comes along, Cap1 will end up in the sock drawer, but I can still be thankful they took a chance on me and helped me rebuild. Also their customer service so far has been amazing!

I know, the credit market has become more and more competitive. Your credit and income profile is way better than mine, so I think your odds of getting more prime rewards card are better than mine would ever be. But the goal for now is to grow my two larger SL cards Discover and Amex and get my scores higher so hopefully a year and a half from now I can try to qualify for a Chase card.

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 16:00:02 GMT

@Anonymous wrote:
I know, the credit market has become more and more competitive. Your credit and income profile is way better than mine, so I think your odds of getting more prime rewards card are better than mine would ever be. But the goal for now is to grow my two larger SL cards Discover and Amex and get my scores higher so hopefully a year and a half from now I can try to qualify for a Chase card.

Don't be so sure of that! One of my employees only made $27,000 a year (he didn't work full time and didn't want to) and he had over $300,000 in credit limits and a mortgage that was the lowest I think in all of history -- 2.56% fixed! Income doesn't mean as much as people think -- having a strong FICO score and a THICK OLD credit report profile means a lot more. All the money in the world can't buy me the credit cards I want, but if I had perfect credit and made 80% less, I'd have gotten it years ago!

Make sure you join Chase Credit Journey -- it's a free useless FAKO score but that website will give preapproval offers that appear pretty strong. It's a good way to check weekly if you have any offers since they update weekly. If you see an offer there, hop over to the Chase prequalification page and run that (soft pull) and see!

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 16:05:28 GMT

@Anonymous wrote:
@Anonymous wrote:
I know, the credit market has become more and more competitive. Your credit and income profile is way better than mine, so I think your odds of getting more prime rewards card are better than mine would ever be. But the goal for now is to grow my two larger SL cards Discover and Amex and get my scores higher so hopefully a year and a half from now I can try to qualify for a Chase card.
Don't be so sure of that! One of my employees only made $27,000 a year (he didn't work full time and didn't want to) and he had over $300,000 in credit limits and a mortgage that was the lowest I think in all of history -- 2.56% fixed! Income doesn't mean as much as people think -- having a strong FICO score and a THICK OLD credit report profile means a lot more. All the money in the world can't buy me the credit cards I want, but if I had perfect credit and made 80% less, I'd have gotten it years ago!

Make sure you join Chase Credit Journey -- it's a free useless FAKO score but that website will give preapproval offers that appear pretty strong. It's a good way to check weekly if you have any offers since they update weekly. If you see an offer there, hop over to the Chase prequalification page and run that (soft pull) and see!

Will do, thank you for all the advice! You've given me a lot of useful advice and will sure to put them to good use. Enjoy your weekend!

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Joecooltech — Fri, 18 Aug 2017 16:44:50 GMT

Congratulations

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

Anonymous — Fri, 18 Aug 2017 17:40:54 GMT

@Joecooltech wrote:
Congratulations

Thank you!

Re: CAPITAL ONE SECURED OFFICIALLY GRADUATED TO UNSECURED TODAY!

AverageJoesCredit — Fri, 18 Aug 2017 18:22:02 GMT

Big congrats clark Onward snd upward