topic Re: Cap one secured in Credit Cards

Cap one secured

MidnightOwl — Thu, 24 Dec 2009 22:44:08 GMT

Did Capital one do away with their secured card application online ?

Re: Cap one secured

Creditaddict — Fri, 25 Dec 2009 02:12:46 GMT

I didn't know they ever had a secured card

Re: Cap one secured

nmorton79 — Sat, 26 Dec 2009 05:29:51 GMT

As far as I know, cap one did away with their secured card at least 10 yrs ago.

Re: Cap one secured

mizzcharles — Thu, 22 Apr 2010 05:39:50 GMT

it's back..

http://www.capitalone.com/creditcards/products/secured/?sol=11197&tc=1&credit=3&linkid=WWW_0608_CARD_TGAFF01_CCBRWALL_C3_02_T_CP19701LW

good luck

Re: Cap one secured

Anonymous — Thu, 22 Apr 2010 16:48:15 GMT

It has been available less than a week.

Re: Cap one secured

MidnightOwl — Thu, 22 Apr 2010 17:09:15 GMT

How strict are they with criteria to get the card ?

Re: Cap one secured

Pushto700 — Thu, 22 Apr 2010 17:29:46 GMT

@MidnightOwl wrote:
Did Capital one do away with their secured card application online ?

No. They credit qualify you first, then offer you a secured if you do not qualify for an unsecured credit product.

Re: Cap one secured

Anonymous — Thu, 22 Apr 2010 17:40:19 GMT

You can now directly apply for secured card as well.

Re: Cap one secured

mizzcharles — Thu, 22 Apr 2010 17:46:17 GMT

I doubt they are strict, i applied last night and they said approved.. The great thing is that you can send your deposit online or over the phone. It says you can get your card within 7-10 business days

I noticed that they pulled experian last night as well.

so i'm waiting for them to withdraw my money, i'll leave an update for anyone interested.

Re: Cap one secured

MidnightOwl — Thu, 22 Apr 2010 17:57:16 GMT

I had read somewhere that they don't report your credit line with the CRA's. Only that you have a debt.You might want to check with them to see if that is true.

Re: Cap one secured

mizzcharles — Thu, 22 Apr 2010 18:04:22 GMT

On there website it says that you account wil be reported monthly to all three...

Not sure what else you would need it to say, when i had an account with then before it was that way and since secured gets reported the same as unsecured i'm guessing it would be the same.

"Your card status will automatically be reported to the three major credit bureaus. Based on your payment and credit history, you may qualify for future credit line increases with no additional security deposit needed."..

1-800-955-7070

to find out more info.

Re: Cap one secured

MidnightOwl — Thu, 22 Apr 2010 18:06:22 GMT

I read that too but, somebody had mentioned that they only report that they have a debt, not the actual credit line. I'm only going by what the person who has the account told me. Just trying to give you or anyone a heads up just incase. You might want to call cap 1 for verification.

Re: Cap one secured

mizzcharles — Thu, 22 Apr 2010 18:11:48 GMT

That's good and all but we can all speculate all day. I think that the only thing that should matter is that you are paying your debt on time. You credit line shouldn't be a big issue, good payment should be all that needs to be known...

Again, to get the facts for yourself

please call the number as listed

1-800-955-7070

Good luck everyone

Re: Cap one secured

MidnightOwl — Thu, 22 Apr 2010 18:14:57 GMT

Good point but, somehow I think the the total credit line is a factor in your scoring with future CCC's . I think most companies want to know what your credit line is & how your managing it. I do agree with you that a phone call should be made if someone intends to apply for this particular card. If anyone calls them please let this board know the results. I don't have any intentions of getting a cap 1 card personally but, it would be interesting to know the status of how they actually report.

Re: Cap one secured

Pushto700 — Thu, 22 Apr 2010 18:37:09 GMT

@MidnightOwl wrote:
I had read somewhere that they don't report your credit line with the CRA's. Only that you have a debt.You might want to check with them to see if that is true.

There is another active thread about this. Cap One (it has been said) corrected the reporting issue....but it still lurks if one has a Cap one Visa Signature card.

Re: Cap one secured

Pushto700 — Thu, 22 Apr 2010 18:38:52 GMT

@mizzcharles wrote:
I doubt they are strict, i applied last night and they said approved.. The great thing is that you can send your deposit online or over the phone. It says you can get your card within 7-10 business days

I noticed that they pulled experian last night as well.

so i'm waiting for them to withdraw my money, i'll leave an update for anyone interested.

It has been said they pull 3 hards (1 from each bureau). Experian pull is instantaneous. Other two are delayed.

Re: Cap one secured

mizzcharles — Thu, 22 Apr 2010 18:47:45 GMT

That's ok, if they pull all three in MY case. My scores are low as it is.. Just waiting to see how long they take to respond... i hate long turn around times.

Why does it lurk to have them? I'm signed up for the mastercard.. tell me. the apr is a bit high(19.48)????? but they give you cli's while your on a secured card who else does that?

Re: Cap one secured

Pushto700 — Thu, 22 Apr 2010 18:53:29 GMT

@mizzcharles wrote:
That's ok, if they pull all three in MY case. My scores are low as it is.. Just waiting to see how long they take to respond... i hate long turn around times.

Why does it lurk to have them? I'm signed up for the mastercard.. tell me. the apr is a bit high(19.48)????? but they give you cli's while your on a secured card who else does that?

Crazy. They give CLI's on secured cards? Never heard of that.

Re: Cap one secured

mizzcharles — Thu, 22 Apr 2010 18:59:45 GMT

I know i was shocked as well..

It states it on the front page of the mastercard secured site

http://www.capitalone.com/creditcards/products/secured/?sol=11197&tc=1&credit=3&linkid=WWW_0608_CARD_TGUNS01_CCBRWALL_C3_02_T_CP19701LW

Take control and build your credit

Automatic reporting
to the 3 major credit bureaus
Track your credit
free enrollment in CreditInform®† lets you track your credit information and receive credit tools
Earn credit line increases
you may earn credit line increases based on your payment and credit history

This is all for the secured mastercard

Unless i can't read anymore.. lol

Re: Cap one secured

MidnightOwl — Thu, 22 Apr 2010 19:34:46 GMT

I don't know if that wise crack at the end was directed at me or not but, All I said was I heard from someone who has the card that they are only reporting debt, not his credit line so, please don't make me out to look like the idiot here. I'm only passing on what was told to me & if you read what you just posted it says nothing about total credit line being reported... it says reports !! I'm sure they do report the whole 9 yards but, I was just passing the info on from another person. Thank you !!!!!