topic Re: Capital One Secured - 1 year anniversary approaching! in Credit Cards

Capital One Secured - 1 year anniversary approaching!

Ortz33__ — Sun, 10 Apr 2011 14:25:41 GMT

Ok. I know a lot of people on here are curious to see what will happen at the one month anniversary of their secured card. For most of us, it is approaching in May or June. Figured I'd start a post that we can all take turns in guessing at what is going to happen.. CLI? Unsecure? Nothing?

I have had my card since last May. I don't think anything is going to happen at my one year anny. Think it will take until November for another CLI. By the sound of the CR that I have spoken to the many times I've called, they have no plans to unsecure at a year but maybe 2 years.

I wish they would at least enroll us into Credit Steps. I've managed a $2300 limit for the past year with only a $300 CLI and my scores are at 650ish.

Re: Capital One Secured - 1 year anniversary approaching!

ptkdude — Sun, 10 Apr 2011 14:32:08 GMT

I'm interested to see what happens. I just got my Capital One secured yesterday and want to know what I might be in for :-)

Re: Capital One Secured - 1 year anniversary approaching!

Anonymous — Sun, 10 Apr 2011 14:41:32 GMT

I think you have to count the 12th closing date as the anniversary, not from when you got your card.

For me, I am guessing another CLI of $300 to $500.

Re: Capital One Secured - 1 year anniversary approaching!

Datx — Sun, 10 Apr 2011 15:43:26 GMT

I got mine in May, statement date of the 17th each month. Interested to see what happens as well. I always said I wanted to close the card after a year when I first got it, but really consider keeping the card now. I dont think I mind paying the small AF to keep getting those little "OK" boxes on my CR for this account.

Re: Capital One Secured - 1 year anniversary approaching!

creditguy-378 — Sun, 10 Apr 2011 15:45:18 GMT

i don't think they will ever give anyone there money back and totaly unsecure it wife has that problem had it almost 3 years gave her cli that are unsecure (1100) but won't give her the $2000 back now according to the terms she has they will unsecure it and give you your deposit back with 1 year of positive history with them they never did so she filed a ftc complaint 2 months ago as well as a bbb complaint the ftc did send a reply saying they are in violation of ther agreement and will look in to it no reply yet from the bbb.

Re: Capital One Secured - 1 year anniversary approaching!

Datx — Sun, 10 Apr 2011 15:57:36 GMT

@creditguy-378 wrote:
i don't think they will ever give anyone there money back and totaly unsecure it wife has that problem had it almost 3 years gave her cli that are unsecure (1100) but won't give her the $2000 back now according to the terms she has they will unsecure it and give you your deposit back with 1 year of positive history with them they never did so she filed a ftc complaint 2 months ago as well as a bbb complaint the ftc did send a reply saying they are in violation of ther agreement and will look in to it no reply yet from the bbb.

I believe it just depends on the credit history of the card holder. I believe there is more, but this member claimed his/her cap one secured card graduated in only a couple of months. It appears Cap One had a secured card program years ago, ended it and then started to offer it again early last year. So maybe the terms are different now. I guess some of us will find out in May - July if anything happens after the one year mark.

Re: Capital One Secured - 1 year anniversary approaching!

ptkdude — Sun, 10 Apr 2011 17:31:10 GMT

@creditguy-378 wrote:
i don't think they will ever give anyone there money back and totaly unsecure it wife has that problem had it almost 3 years gave her cli that are unsecure (1100) but won't give her the $2000 back now according to the terms she has they will unsecure it and give you your deposit back with 1 year of positive history with them they never did so she filed a ftc complaint 2 months ago as well as a bbb complaint the ftc did send a reply saying they are in violation of ther agreement and will look in to it no reply yet from the bbb.

I looked at the customer agreement I received Saturday (4-9-11), and there is nothing in there that discusses the card graduating to 100% unsecured. I also don't see anything on it that indicates when it was last changed. They may have had that wording in the past, but they don't now. I think they can also change the terms of your card agreement anytime they want, so the agreement DW originally received may have changed.

Re: Capital One Secured - 1 year anniversary approaching!

Ortz33__ — Sun, 10 Apr 2011 18:09:10 GMT

the canada unsecured card has always been available and has been available for years. is that where you live?? if not i do think it was offered at one point in the past.

and yes - i do realize that 12 months of history means 12 statements. thanks though. : ) : )

Re: Capital One Secured - 1 year anniversary approaching!

creditguy-378 — Mon, 11 Apr 2011 00:22:36 GMT

i live in the U.S. i was looking at the secured cap one thats offered now my wife has got a totally different deal then what they have now seems like you pay $49 for $200 line of credit when she got her card she paid a $2000 deposit and they sent the card 19.9 apr. 0 af that say's it in the terms and it also says when you show positive history with us for 1yr we will refund your deposit and unsecure your card with a credit limit of that equal to the original deposit made. That's is what's got me mad we gave them a $2000 interest free loan for 3 years not only that i told her to ask to see if they will give her the deposit back and just have her limit at the unsecured cli that they gave but no said she would have to close the card to get the deposit returned would be pointless to do that!!!!!!!!! It is so weird I get treated pretty good when it comes to my account with cap one but they treat my wife's account really bad

Re: Capital One Secured - 1 year anniversary approaching!

Anonymous — Mon, 11 Apr 2011 01:22:23 GMT

I opened mine in january and when I called to activate the card, I spoke with a rep that said that the card does not unsecure.

Re: Capital One Secured - 1 year anniversary approaching!

Ortz33__ — Mon, 11 Apr 2011 01:29:37 GMT

ya. i have spoken to so many reps. some have said that it "may" others have said that it won't at all. i think some are trained to say that it won't so that it doesn't become a verbal "contract" over the phone. i think the other more trained, veteran reps will say that it is possible based upon blah blah blah. contracts don't have to be in writing or signed. legally it could become an issue.