topic Re: Capital One Secured question in Rebuilding Your Credit

Capital One Secured question

finallyfixingit — Thu, 21 Aug 2014 21:46:13 GMT

It has been a week since my made my deposit for my secured card. I have not heard from them at all. I have read that some people have received email updates from them. I have not heard anything. Is that normal?

Re: Capital One Secured question

Whitneyy — Thu, 21 Aug 2014 23:25:18 GMT

@finallyfixingit wrote:
It has been a week since my made my deposit for my secured card. I have not heard from them at all. I have read that some people have received email updates from them. I have not heard anything. Is that normal?

I would call them just to make sure everything is running smoothly.

Re: Capital One Secured question

taxi818 — Thu, 21 Aug 2014 23:48:52 GMT

Yes this is completely normal.

It actually takes about 16 days for them to set you up.

After they will email you that your card is on the way.

and it will take about 5 days then to get your card.

No need to panic.

in fact right now. capital one is very generous. even on the secured. cards.

make sure you are not late on any payments for 6 months. and they will give you nice credit limit increase. so be patient. this is a marathon not a sprint.

Re: Capital One Secured question

finallyfixingit — Thu, 21 Aug 2014 23:53:30 GMT

Thank you. I will do that!

Re: Capital One Secured question

Whitneyy — Thu, 21 Aug 2014 23:54:25 GMT

@taxi818 wrote:
Yes this is completely normal.
It actually takes about 16 days for them to set you up.
After they will email you that your card is on the way.
and it will take about 5 days then to get your card.
No need to panic.
in fact right now. capital one is very generous. even on the secured. cards.
make sure you are not late on any payments for 6 months. and they will give you nice credit limit increase. so be patient. this is a marathon not a sprint.

Six months when? LOL.

Re: Capital One Secured question

Anonymous — Thu, 21 Aug 2014 23:54:45 GMT

You will get an email once they send it..got mine last week.

Your new credit card was mailed today, and you should receive it within 7 business days.

Thanks for being a Capital One customer.

Re: Capital One Secured question

taxi818 — Thu, 21 Aug 2014 23:58:08 GMT

I got increase 6 months to the day I activated card. Was shocked. As I had already sded the card. Still was a nice gesture from cap 1. Increase in secured. I said wow.

It's my second oldest card. So I will leave it open.

And just pay af. It's ok. 29 bucks.

Re: Capital One Secured question

finallyfixingit — Fri, 22 Aug 2014 00:17:09 GMT

I just got off the phone with them. They said they will be mailing my card tomorrow. They said I should receive the card by Sept 2. They told me that did not do auto cl increases, so for those of you were lucky enough to get one please explain how you used your card.

Thank you

Re: Capital One Secured question

taxi818 — Fri, 22 Aug 2014 00:19:48 GMT

Listen. They told me same garbage. But. I keep my balance under 40 percent. I paid mutilple

times in a month. At month 6 they have me 500 increase. That was in June.

Re: Capital One Secured question

finallyfixingit — Fri, 22 Aug 2014 00:24:15 GMT

@taxi818 wrote:
Listen. They told me same garbage. But. I keep my balance under 40 percent. I paid mutilple
times in a month. At month 6 they have me 500 increase. That was in June.

It looks like I am going to make multiple payments per month as well.

Re: Capital One Secured question

taxi818 — Fri, 22 Aug 2014 00:27:20 GMT

Lol. That's the best thing to do. Also. At about month 4. Go to their pre approval site. Just google it.

To see if you pre approved or unsecured. If I says congratulations. Don't wait apply ASAP.

I gave two cards with them is 8 months. My secured 1000dollars.unsecured quick silver

3k since then. Got 8 other unsecured cards. Just got discover it last week.

Take it slow. It will happen

Re: Capital One Secured question

Misstasha — Fri, 22 Aug 2014 01:01:00 GMT

I opened a cap1 secured on 9/2012 I have gotten 3 cli's from them. I just started reading these forums and I did'nt know about utilization so I have always carried at least a 60% balance but have never been late. The way its been working for me is everytime I get within 50 $ dollars of maxing out they give me between 100-300 increase. After reading here I applied for a QS1 with them earlier this week and was approved.

Re: Capital One Secured question

finallyfixingit — Fri, 22 Aug 2014 02:29:43 GMT

Thank you all for your advice. I will follow in your steps and let you know how it works out in the future.

Re: Capital One Secured question

finallyfixingit — Thu, 28 Aug 2014 20:04:31 GMT

It's here. I know it is only a secured card, but it is the first credit card that I have had in more than 8 years. Now I just have to use it responsibly and wait for it to report.

Re: Capital One Secured question

Whitneyy — Thu, 28 Aug 2014 20:08:37 GMT

@taxi818 wrote:
I got increase 6 months to the day I activated card. Was shocked. As I had already sded the card. Still was a nice gesture from cap 1. Increase in secured. I said wow.
It's my second oldest card. So I will leave it open.
And just pay af. It's ok. 29 bucks.

I use mine often so I hope for the same thing. I made an increase to it myself and plan to do it again sometime next monht so I hope that doesn't mess up my chances..

Re: Capital One Secured question

taxi818 — Thu, 28 Aug 2014 20:44:40 GMT

They will for sure give you nice bump. I say. Don't add more until after your increase. To make it even number. Because. The moment they give you increase. You will be eligible for unsecured with cap 1. And they will give you. So the day I got my increase. I applied for quicksilver. Got 2k limit. Since then. 8 cards later. Hehehe all is good. Just take care of it.

Re: Capital One Secured question

Whitneyy — Thu, 28 Aug 2014 20:56:05 GMT

@taxi818 wrote:
They will for sure give you nice bump. I say. Don't add more until after your increase. To make it even number. Because. The moment they give you increase. You will be eligible for unsecured with cap 1. And they will give you. So the day I got my increase. I applied for quicksilver. Got 2k limit. Since then. 8 cards later. Hehehe all is good. Just take care of it.

I just checked, I've had it since April and my limit is 380$. I make two payments a month.

Re: Capital One Secured question

taxi818 — Thu, 28 Aug 2014 21:20:11 GMT

Very good. Maybe add 120 to make even 500. Then see what they give. Only. 2 more months to go.

Re: Capital One Secured question

finallyfixingit — Thu, 28 Aug 2014 23:39:06 GMT

@Whitneyy wrote:
@taxi818 wrote:
They will for sure give you nice bump. I say. Don't add more until after your increase. To make it even number. Because. The moment they give you increase. You will be eligible for unsecured with cap 1. And they will give you. So the day I got my increase. I applied for quicksilver. Got 2k limit. Since then. 8 cards later. Hehehe all is good. Just take care of it.
I just checked, I've had it since April and my limit is 380$. I make two payments a month.

Whitneyy at what points of the month do you make your payments?

Re: Capital One Secured question

taxi818 — Thu, 28 Aug 2014 23:51:31 GMT

No specific time. when i just had secured. was always aware of utilization. Example. 500 on card.

did not want to go over 30 percent. means. i can't spend more than 150 of that 500.

So when i hit say maybe 150 or 170.. i would pay 40 to 80 bucks. just to keep it low.

Then whatever i paid. i could use again.

this was always good. and they seemed to love all the attention i was giving the card.