topic Re: Capital One Secured card in Credit Cards

Capital One Secured card

mizzcharles — Thu, 22 Apr 2010 05:11:37 GMT

Hello everyone

In my search for the perfect secured credit card that I can apply for and pay my deposit online i found two

1) Capital one secured - And you can customize your pic on the card

2)BOA

I was just happy to not have to mail in a check or money order and wait even longer for a response which in some cases can be a denial. Capital one even approved me instanly but we'll see what else they ask for..

I'll keep you guys up to date- if you know of any others that let you pay your deposit online please share.

I'm also going to do a test trial for everyone, i applied on 4/22/2010 let's see how long it takes to receive this card.

Re: Capital One Secured card

Anonymous — Thu, 22 Apr 2010 16:46:56 GMT

Definitiely not HSBC.

I just got my original check back with a reapply letter. I sent check with application over 6 months ago.

They did not know where the check was, so I had to go into branch to make deposit, so I actually got the card 2 months ago.

Re: Capital One Secured card

mizzcharles — Fri, 23 Apr 2010 15:33:48 GMT

Ok so here's the first update, One whole day later Capital one withdrew my $300 dollars from my bank account..

They say 7- 10 days to receive your card so so far this is good.

will let you guys know when i receive it...

Re: Capital One Secured card

mizzcharles — Wed, 28 Apr 2010 03:44:37 GMT

Ok, for the next update today 4/27/10 i received a peice of mail containing important card info and welcome information.. MY card will be here soon.. so far five days since I Applied.

yay

Re: Capital One Secured card

CreditDrama85 — Wed, 28 Apr 2010 04:20:25 GMT

i will be interested to see if it reports as a secured card to the credit bureau and if you get a cli after a few months. let us know.

Re: Capital One Secured card

mizzcharles — Wed, 28 Apr 2010 04:22:56 GMT

YES I will definitly let you guys know....I'm excited i've told a few friends who got denied for the citi secured and boa. they got approved for capital one though.

they really wanna help ..

Re: Capital One Secured card

d170 — Wed, 05 May 2010 21:41:52 GMT

They do usually report as a secured card. I have a secured card with my credit union and in the notes that's how it shows up. The weird thing and I don' t know if this goes in your favor or not I did go over the credit lime once but it only shows the highest its been was the credit line on the account and not the amount that it was actually over.

Re: Capital One Secured card

Anonymous — Thu, 06 May 2010 02:22:12 GMT

it took approx 2 weeks from when my deposit funds were transfered from my bank account, you will get a email saying your card was shipped yesterday and i got my card 3 days after i recived that email.

so far im happy with this card i was denied by my bank wells fargo mfor there secured card they have a web site and phone number where you can fund a increse to your deposit funds to raise your credit limit and if you make your payments on time and not go over limit every 3 months you are elgible for a non secured credit line increase wich may take 1 to 2 months to post

after talking to a CSR they said the card reports as a secured card

also you can get a free with no trials or monthly fee subscription to there credit monitoring service where you get a free credit report and scor every 180 days (you can upgrade to a $12 a month fee to unlimited credit pulls)

to manage your card you have to login to a special website (capitalone.com/securedcard/manage) and not the normal one and you can not direct download into quicken you have to download a web connect file

ive had the card for a week and cant wait to see if the promises are honored

Re: Capital One Secured card

mizzcharles — Mon, 10 May 2010 20:40:57 GMT

Good news guys..

today i got my capital one secured master card in the mail..

two nights ago i got an email saying my card was mailed and today i received it. so unless u get that email your card isn't on the way yet..

they charged the annual fee to mine already...

so all together it took.

14 real days to get it, which is 7-10 business days like they said.

good luck to everyone else with your cards coming..

Re: Capital One Secured card

Anonymous — Sat, 08 May 2010 14:05:04 GMT

I just made my first deposit increase because when I applied for the card I had a fairly old cap one charge off (old enough to be past the 7 year mark and off my credit reports) i applied with a low amount. it took 3 days to be taken from my checking account (wells fargo) now I'm waiting fo it to be added to my credit limit.

also asked the CSR again about the road to credit unsecured CLI she said because I had an old charge off it might disqualify me from unsecured increases but she could not say for sure

Re: Capital One Secured card

joestay — Sat, 08 May 2010 17:56:08 GMT

What's the max credit limit for the secured card? I kind of want a card with at least $5000 credit limit so I can charge for airline tickets. I am willing to deposit that much if I can get the credit limit. So, do secured card offer the same benifit as unsecure card, like travel protection benefits and stuff.

Re: Capital One Secured card

mizzcharles — Sat, 08 May 2010 18:06:42 GMT

http://www.capitalone.com/creditcards/products/secured

unfortunatly it is only up to $3000 dollars with this card..

Re: Capital One Secured card

Anonymous — Mon, 10 May 2010 15:43:05 GMT

Thanks mizzcharles for the heads up on this new card. I've been following your progress and I applied as well. I got the email mine was shipped on the 7th, so hopefully I'll get it in the next few days. I really love the ease of applying and adding money. I was actually getting ready to send in an application for an Orchard secured when this came about. Thanks again!

Re: Capital One Secured card

mizzcharles — Mon, 10 May 2010 20:40:00 GMT

HEY NO PROBLEM,

I'd hope to be given a heads up on good offers as well. We're here to help each other out. I love how easy everything was as well, especially not having to mail in money and the customized cards..

Re: Capital One Secured card

OptimalFICO — Wed, 12 May 2010 04:03:39 GMT

Just wanted to suggest users check into secured cards from Digital Credit Union or Addison Avenue Federal Credit Union, both of which have no AF and you get all the benefits of their regular Visa cards.

Note that Wells Fargo is no longer converting secured cards to unsecured until the ramifications of this credit crunch and new credit law flush out. Also for those seeking to rebuild credit through HSBC or Orchard, both have just revised their policies and are not extending any CLIs to anyone.

Here's an interesting article I found:

http://www.bankrate.com/finance/credit-cards/10-questions-before-getting-a-secured-credit-card-1.aspx

10 questions to ask about secured credit cards:

Re: Capital One Secured card

Anonymous — Wed, 12 May 2010 04:10:26 GMT

thanks for the info!

Re: Capital One Secured card

CreditDrama85 — Fri, 14 May 2010 22:46:07 GMT

when this account shows up on your credit report please let us know if it reports as secured or not. when this product was around years ago i think it was just reported as a credit card since clis were given after the intial deposit.

Re: Capital One Secured card

MidnightOwl — Wed, 26 May 2010 19:17:05 GMT

I just got off the phone with capital one & I was told that all I have to do now is setup my security deposit & once it clears I'll be getting my card mailed out. The confusion was, when I called last week they said all they needed was address verification so, I faxed over my check stub from my employer & another week went by & I called the automated number to check on the status of the application & it still said they were reviewing my app. So, I called back & spoke with a rep & asked her why are they still reviewing the app. when I already faxed over the document they needed to process the app. She said they are waiting on the security deposit which I told her I wasn't given that option until the app. has been approved but, she said everything on her end is fine & we just have to wait until the transfer of funds clear before they can send out the card. I told her I'll call them back with the banking info. on Friday & she said that'll be fine & that I need not worry because everything has been approved. Why can't they tell you that the deposit is all that was holding up the process on the automated system ? Anyway, it's approved & I'll be adding another positive TL to my reports.

Re: Capital One Secured card

mizzcharles — Wed, 26 May 2010 19:35:32 GMT

I would be annoyed by that too. I had no problems thank god.

my friend did tho. She applied for 2 cards and sent in the deposit. they accidentally put all the money on one card and could not reverse it. They noticed the error and apologized but thank god she had the extra money to send another deposit in for the other card. I wouldn't have had enough to do that.

Re: Capital One Secured card

charmcity — Wed, 14 Jul 2010 23:05:36 GMT

I applied for this and got something in the mail that said I needed to send in proof of address and social security number. I called the number today and the woman gave me a fax number if I wanted a quicker decision.

I saw there is an inquiry on my EX report (my worst score I think) from the date I applied.

I imagine I'd have been declined outright at this point? I don't know if it's a good sign or not. I guess I will know tomorrow when I fax it in.