topic Re: CapOne Secured in Credit Cards

CapOne Secured

Anonymous — Tue, 17 Jul 2012 22:00:38 GMT

Has anyone every earned an automatic CLI on their secured CapOne card that didn't require an additional deposit?

Re: CapOne Secured

yillb — Tue, 17 Jul 2012 22:29:11 GMT

I don't think they do. I called the BD# once just to get some insight on the program, and i was pretty much told if you want to get a CLI you would need to apply for an unsecured, as they don't give CLI's on secured, and they also said the card would never graduate into a non secured.. i spoke to a Account manager and she was pretty straight forward on what to expect, as i asked her lots of questions about paying early, ect. She actually said, based on the way i use my card, i wouldn't get any help with my scores even if i raised my limit. She said i pay my bill every two weeks, and i never get charged interest, i think she was getting at they won't make any money off me...

But that's just my little story, maybe someone else has had better luck.

how long have you had it for ?

Re: CapOne Secured

jsucool76 — Tue, 17 Jul 2012 22:32:49 GMT

I've never heard of anyone getting a CLI without a higher deposit, getting a CLI (other than credit steps) from Cap1 at all without having one of their prime cards at all is a rare occasion as it is.

Re: CapOne Secured

Anonymous — Tue, 17 Jul 2012 23:16:34 GMT

oops dbl post

Re: CapOne Secured

Anonymous — Tue, 17 Jul 2012 23:16:12 GMT

Haven't had it for long but their website states you can "earn cli without additional deposits", just wanted to see if it was true.

Re: CapOne Secured

Anonymous — Tue, 17 Jul 2012 23:35:23 GMT

I received a unsecured increase after my 6th billing cycle. Prior to this happening though I had made 2 additional deposit and paid in full each month. After my 6th statement cycle closed Cap1 gave me a unsecured increase in the amount of $300.

Re: CapOne Secured

Anonymous — Tue, 17 Jul 2012 23:54:44 GMT

theres been several posters here that have mentioned a 100 cli on the secured card. which secured card do you have the 49/200 or the full secured 200?

Re: CapOne Secured

svtthis — Wed, 18 Jul 2012 00:03:52 GMT

I have just earned a automatic CLI on my 6th statement as well. My card started off as only requiring a 49 dollar deposit but I wanted more that just the 200 limit. So I put up an additional 200 to make it 351. I have now a 451 limit which I plan on upping the limit by making a deposit. Food for thought I have done a lot of reading on people's different experinces and seems to be the more you deposit the higher the CLI they give you. Some people report getting up to 300 unsecured.

Re: CapOne Secured

Anonymous — Wed, 18 Jul 2012 00:37:47 GMT

I agree. This was essentially my experience. I started with a $200 line and within the first 6 months I made 2 additional deposits each for $300 bringing my total limit to $800. After my 6th statement cycle, I received the $300 increase bring my limit to $1,100!!!

Re: CapOne Secured

Anonymous — Wed, 18 Jul 2012 01:36:59 GMT

I have the 99/200. I plan to add another deposit next month before my next statement closes.

Re: CapOne Secured

LS2982 — Wed, 18 Jul 2012 01:42:45 GMT

When I had them I never recieved an auto, had to deposit money.

Re: CapOne Secured

Anonymous — Wed, 18 Jul 2012 01:57:06 GMT

I believe it depends when you signed up. And it does not appear the older accounts were "grandfathered" into the new structure. The website today if you go to apply is a totally different product than existed 2 and 3 years ago. My card (2008) you HAVE to deposit additional money to get a CLI. However I don't know when they switched but what they now offer is some sort of a hybrid program where you have a $49-200 minimum refundable deposit and they determine your credit limit. And then you qualify for increases.

This prevents people from opening an account with a $5000 limit and having a 700 fico score 6 months later after bankruptcy. The old card allowed some people (very few) to manipulate the FICO scoring system. I don't think you can do it any longer with this card at least. With that said I am a little bitter I've had this thing since 2008 and not gotten one CLI and some of you newbies are getting it at 6 months

Re: CapOne Secured

jsucool76 — Wed, 18 Jul 2012 02:02:13 GMT

I think now (judging by the fact that they all happen after 6 months) that they've implemented credit steps into the secured card. All I know is I got denied for the cap1 secured when I applied almost a year ago, lol.

Re: CapOne Secured

svtthis — Wed, 18 Jul 2012 02:53:49 GMT

i applied for my secured card in jan of 2012 with out my BK even being discharged or even have the 341 meeting done. My BK discharged on march 2012 and I included three Cap 1 accounts in BK two being recent (within a year old)

Re: CapOne Secured

Anonymous — Wed, 18 Jul 2012 04:03:11 GMT

I have had the cap1 secured card for 11 months and haven't had a cli. I have increased it with cash deposits and I am at a $450 limit on a 49/200, so I have added $250 of my own cash. They do pull my credit twice a month for who knows what reason. Also, I have only paid a total of $1.38 in interest over the past 11 months. I'm in the middle of buying a house so I only let $10 or less report each month and make 3 or 4 payments a month.

Really though, I can't bag on cap1. If it wasn't for my secured card, I would still be sitting at a low 600 and living in an apartment for who knows how long. The card is my only cc and I can't wait to opt in after I close on my house and see what I can get my hands on.

Re: CapOne Secured

Anonymous — Wed, 18 Jul 2012 04:10:40 GMT

@Anonymous wrote:
Has anyone every earned an automatic CLI on their secured CapOne card that didn't require an additional deposit?

I have the secured Capital One Mastercard that has a $29 AF, and the ONLY CLI that card ever received came straight from me when I deposited the maximum amount of $3,000 on it.