topic Re: Capital One Secured Card in Credit Cards

Capital One Secured Card

Anonymous — Thu, 04 Apr 2019 05:01:56 GMT

Ive had my Capital One secured card since June of 2014. I opened a regular C1 Platinum Mastercard in September of 2016.

Both cards have always been paid on time. When in the world will they graduate the secured card to an unsecured card?! Stuck at a $601 limit for years now lol so frustrating! Any insight?!?!

Re: Capital One Secured Card

pinkandgrey — Thu, 04 Apr 2019 13:27:13 GMT

That’s the famous Cap One bucket. My advice would be to close them and get a better card.

Re: Capital One Secured Card

Anonymous — Thu, 04 Apr 2019 15:32:04 GMT

Hmm, I had a CapOne Secured for about 2-3 years before they graduated it. Discover it Secured was much faster, about 6-8 months I think. Have you called and asked them to graduate it? Then you can PC it to QS or QSOne.

Re: Capital One Secured Card

Anonymous — Thu, 04 Apr 2019 16:06:13 GMT

I've had mine for a year now and no graduation as soon as I have another credit (not store card) I'm gonna close it unless they graduate it by then which I fine unlikely.

Re: Capital One Secured Card

Anonymous — Fri, 05 Apr 2019 05:15:30 GMT

No i've never tried calling them...I'll give that a shot this weekend. Fingers crossed!

I would close it but it is my oldest card.

Re: Capital One Secured Card

Anonymous — Fri, 05 Apr 2019 11:04:22 GMT

My advice would be to keep it open and apply for a new card or pick a favorite card and only use that one. I had 3 secured cards and I lost my debit card so I only used the discover.
Discover graduated me from $200 to $1800 in 6 easy months. Citi says 18 months and Wells Fargo says when they please.

Don’t close it just stop using it maybe $2 a month.

Re: Capital One Secured Card

Remedios — Fri, 05 Apr 2019 11:46:01 GMT

@Anonymous wrote:
Ive had my Capital One secured card since June of 2014. I opened a regular C1 Platinum Mastercard in September of 2016.
Both cards have always been paid on time. When in the world will they graduate the secured card to an unsecured card?! Stuck at a $601 limit for years now lol so frustrating! Any insight?!?!

Cap1 started graduating cards opened either in late 2016 or early 2017.

Cards opened prior to those dates did not graduate, and sadly, it seems they've stopped graduating secured cards again.

I doubt card opened in 2014 will ever graduate.

You did not elaborate on other cards you may have, but in general, Cap1 starter cards are lost cause. Some may experience growth, but those are not the ones that started as secured.

If there are no fees, it does not hurt to keep it open, unless you dont want to bother with SD card. Closing it would depend on which other options you have.

If I were you, I'd start looking elsewhere.

Re: Capital One Secured Card

Anonymous — Sat, 06 Apr 2019 21:00:22 GMT

I just called them and “it is not eligible to be unsecured at this time but capitalone is always evaluating eligibility” I asked what the criteria was for eligibility and big surprise they don’t know lol. I said ok I guess it’ll just continue to sit in my sock drawer like it has for the last year. Oh well.

Re: Capital One Secured Card

Anonymous — Sun, 07 Apr 2019 14:04:54 GMT

Hey. I’m kinda in the same boat as far as being displeased with Capital One. I’ve had my card for seven months now. When I got the card I was told that my deposit would be returned and my credit limit increased at six months. Neither happened. Do you remember if they did either of these things? Or when they did them?

On a happier note, it’s raised my credit score so much. I only had if for about three months before I got a better card. I’m at 698 today but as soon as I see a 700 I’ll start getting cards I really want.

Re: Capital One Secured Card

HindSight_20_20 — Sun, 07 Apr 2019 14:57:04 GMT

Yeah my $49 = $200 Secured Cap1 has been opened for 5 months and just received the $300.00 CLI to = $500.00.

It's cool with me, I'll just let it sit at $500.00 as long as they want it to. It's servicing it's purpose with my Fico's so I'm good with it, unless something changes It will probably sit in that $500.00 bucket for years.

I also have the unsecured Cap1 Platinum at $300.00 and have had it for about 9 months if it hits an unsolicited CLI, cool. If not... cool.

When my fico's are up I'll apply for a whole other Cap1 product as mentioned and suggested above, I also agree on 'not closing' the card - use it whenever you remember to do so.

Re: Capital One Secured Card

pizza1 — Sun, 07 Apr 2019 15:11:12 GMT

My advice would be to apply for another unsecured Cap1 card, and then ditch the secured, and get your money back, especially if has ab AF. The secured card will stay positive on your reports for 10 years.

Re: Capital One Secured Card

Anonymous — Sun, 21 Apr 2019 16:02:43 GMT

Agree with pizza.
I got cap1 secured card last March. Only got up to 500$ never unsecured, but I kept it open for a year, it helped me qualify for the cards I have.
Once I got cli that brought my cl up to 12000 from 7000, that's when I closed it. I have a ten month old unsecured qs( PC from platinum) got 200 cli to 500 but that's it. I've been putting 3-400 dollars through it per month but I still see the (not using enough of current credit limit) message when I ask for cli.

Re: Capital One Secured Card

MisterWives — Sun, 21 Apr 2019 20:50:48 GMT

Same thing happened to me I had a secured Capital One for over a year didn't graduate i'm assuming because I barely used it besides for my Spotify subscription. Discover was a lot more gracious with their secured card graduated within 6 months, but to be fair I esentially used it as my main card for the cashback match bonus for the first year. I ended up closing the Capital One Secured as the SL was low $500, there were no benefits cashback wise, and they had my deposit which was essentially like loaning money to them for free at no interest so why would they care to graduate it since they already had my money.

Edit: You could just keep the secured one open and apply for an unsecured card and see what happens

Re: Capital One Secured Card

Anonymous — Sun, 21 Apr 2019 20:56:36 GMT

If it is any consolation, I think that card reports as an unsecured credit line during hard pulls.

That card cannot be changed to an actual unsecured card, at least not the last time I read into the details (which I believe was close to when you got your card).

Re: Capital One Secured Card

Anonymous — Mon, 06 May 2019 05:28:02 GMT

They may not be graduating it because the secured card is also a platinum card. So they would be graduating it into a card you already have. I'm not sure if you can have two of the same card but that's my guess.

Re: Capital One Secured Card

Anonymous — Mon, 06 May 2019 10:15:07 GMT

Plus 1

Re: Capital One Secured Card

Anonymous — Mon, 06 May 2019 11:45:38 GMT

I had the secured platinum and the regular Platinum At the same time but eventually I pcd the unsecured to Quicksilver.so yes you can have two of the same cards at the same time but remember they are no longer combining accounts. Main reason I canceled or got my security deposit back from first card.

Re: Capital One Secured Card

Petit3tee — Mon, 06 May 2019 12:50:20 GMT

That’s so cap1. I don’t even remember how long it took mine to graduate but it’s years. Anyhow, what I’d suggest you do is to focus on the unsecured that you also have. See if you can pc to either venture1 or qs1 since it’s been over a year and if these are the only 2 cards you carry, maybe add another card from disc or citi... Mine steps were cap1 secured, cap1 unsecured, disc it
Hope this helps, best of luck!