topic Re: Capital one secured card never graduated! in Credit Cards

Capital one secured card never graduated!

Anonymous — Mon, 25 Jun 2018 00:44:40 GMT

Hi, just figured I would put this out there. This was my experience with the cap one secured card. I got the card over a year and a half ago. I started with a $200 limit and eventually got the increase to $500. But after that I had no luck with any type of graduation. My credit has grown almost 150 points since I got that card. My credit score is now 730. I have cards that have limits over $5000. I wanted to keep this card, seeing as it was my oldest account however every time I called capital one they informed me that there was essentially nothing they could do and that I just had to wait. I also learned that since I had open other accounts only a few months after that, that canceling this card won’t affect my credit in the long run being that closed accounts stay on your credit report for 10 years and and still contribute to your lenght of credit during that time. So, after thinking long and hard, I called today and I canceled my card. Good luck to all of you and if you have the capital one secured card I hope it graduates! I also highly recommend getting the Discover secured card. That card graduated in a year and I now have an $1800 limit .

Re: Capital one secured card never graduated!

Brian_Earl_Spilner — Mon, 25 Jun 2018 02:02:01 GMT

There was never any guarantee it would ever graduate. You use it to build/rebuild credit, then apply for another card. Even if it did graduate it would be stuck.

Re: Capital one secured card never graduated!

Anonymous — Mon, 25 Jun 2018 03:41:38 GMT

**Note: Credit experts, feel free to chime in! I am just an amateur contributor. **

You should get connected to a Capital One credit analyst or underwriter (not sure what the technical title is) to manually look your credit report so that they can determine whether to un-secure it or at least product-change it.

By the way, well done getting your scores passed 700!

Don't think that Capital One never un-secures---here is a link to a post that proves that: https://ficoforums.myfico.com/t5/Credit-Cards/CAPITAL-ONE-SECURED-OFFICIALLY-GRADUATED-TO-UNSECURED-TODAY/td-p/5026789

Re: Capital one secured card never graduated!

Brian_Earl_Spilner — Mon, 25 Jun 2018 05:40:56 GMT

@Anonymous wrote:
**Note: Credit experts, feel free to chime in! I am just an amateur contributor. **

You should get connected to a Capital One credit analyst or underwriter (not sure what the technical title is) to manually look your credit report so that they can determine whether to un-secure it or at least product-change it.

By the way, well done getting your scores passed 700!

Don't think that Capital One never un-secures---here is a link to a post that proves that: https://ficoforums.myfico.com/t5/Credit-Cards/CAPITAL-ONE-SECURED-OFFICIALLY-GRADUATED-TO-UNSECURED-TODAY/td-p/5026789

Everything at Cap1 is automated so their "underwriters" cant override anything. As for the graduation, theyve modified that card a couple of times in the last 5-6 year's. When I got one back in the day it graduated and you could deposit up to $3000 after opening on your own schedule. Then they took away the limit increases. Then they took away the graduation. Now, as long as it was opened after 2016, it can be graduated, but there's no time limit. They can do it whenever they want after the steps increase. As for the product change, that can be done any time after the 3rd month, though I believe the secured can't be PC'd

Re: Capital one secured card never graduated!

pizza1 — Mon, 25 Jun 2018 14:10:38 GMT

Me being the patient person that I am, I would say you're past that card now. Ditch it and move on. I bet if you checked their sites for pre approval, you'll find you have offers. Also, check Amex site too.

Re: Capital one secured card never graduated!

Anonymous — Mon, 25 Jun 2018 20:12:33 GMT

Yeah, everyone's experience and usage and file is different.

Mine graduated and converted in 2018 within 11 months and I posted about it. I wasn't expecting it to because of threads like this I kept reading.

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Cap1-Unsecured-and-converted-to-Quicksilver/td-p/5170758

I don't blame OP for cancelling the card... a few months difference in credit age won't hurt but to be fair some people have the same experience with Discover secured never graduating. I was giving mine a full year to budge because I wasn't paying an annual fee to sit in a sock drawer. A year and half in and if you already paid the annual fee..wouldn't have hurt at that point to cancel it closer to your 2 year anniversery if they still refused to budge. Next time maybe just research the forum first to see if there is a backdoor away around something before just getting mad and calling back and cancelling.