topic Re: Cap One Secured Cards no longer graduate? Next option? in Rebuilding Your Credit

Cap One Secured Cards no longer graduate? Next option?

AKO17 — Thu, 02 Jul 2015 19:24:32 GMT

Question: I called CapOne two weeks ago to find out about graduating my secured card to an unsecured card. They said they are not graduating secured cards at this time and don't know if/when they will in the future. I only have a $200 limit on this card and almost never use it. Would closing it be a bad idea? I was able to upgrade my other Platinum card to a Quicksilver and I'd like to get another unsecured C1 card. My secured card does not report as secured, so that's nice, but I'd like to not have to funnel money into it in order to increase my CL. Thoughts? Hang tight? Close and app for a new? Planning to garden until Feb 2016 after I figure out what to do here. Thanks all!

Re: Cap One Secured Cards no longer graduate? Next option?

mamatried — Thu, 02 Jul 2015 19:27:24 GMT

How long have you had it? HANG TIGHT!

I got my $200 secured Cap1 Platinum in January 2015 and in June 2015 I was approved for unsecured Cap1 Quicksilver $1,000. Within the same week or so, they gave me an unsecured CLI of $300, putting my Platinum to $500, without me asking. The picture of it also changed in my online portal... not sure what's up with that.

Depending on your situation, it's likely worth leaving the $200 stewing there to keep that card history open.

Re: Cap One Secured Cards no longer graduate? Next option?

AKO17 — Thu, 02 Jul 2015 19:30:14 GMT

I've only had it since February 2015. I got my my Plat in 2013 which is now a QS as of this month. Just ready to get rid of my secured card so I can feel like a creditworthy person again

Re: Cap One Secured Cards no longer graduate? Next option?

mamatried — Thu, 02 Jul 2015 19:36:08 GMT

If it reports as unsecured, I'd keep it. Considering the history, I'd be hesitant to close it.

I have a US Bank HD Secured $300 from 2012 and I've heard they are graduating without closing and reapping (umm no thanks) so I'm just gonna let it sit there until I hit my big goal, purchasing a home. Then I'll likely STILL let it sit for awhile until I buck up and close it to get my sad, orphaned $300 back.

Re: Cap One Secured Cards no longer graduate? Next option?

mamatried — Thu, 02 Jul 2015 19:37:04 GMT

Oh wait I mixed up your dates, I had them backwards.. if you've only had it since Feb, I'm not sure what kind of impact it would have. How's your current score and profile?

Re: Cap One Secured Cards no longer graduate? Next option?

kuku4koco — Thu, 02 Jul 2015 22:59:01 GMT

I could have sworn that I just read yesterday (or the day before) where someone else said that Cap1 increased their 'secured' card limit... I'll have to see if I can find it. My point being that maybe it doesn't graduate, but perhaps ends up being 1/2 secured 1/2 unsecured... I would hang tight and hold on to it for awhile more to see. (and use it a bit).

Re: Cap One Secured Cards no longer graduate? Next option?

crissyanj — Fri, 03 Jul 2015 03:49:22 GMT

Unfortunately, it doesn't unsecure. However, you can get an unsecured CLI. I've had my card since Dec 2013, starting at $200 and was increased to $500 in June 2014 and nothing since then. I've been approved for QS1 in March and rarely use the card now.

Re: Cap One Secured Cards no longer graduate? Next option?

Anonymous — Fri, 03 Jul 2015 06:10:23 GMT

I started with 400 on mine, added 600 more to make the total 1000, cap1 has given me 2 cli of 500 each to make the card 2k. However it still wont be around long...post mortgage I got 5 new cards for almost 13k in cl so bye bye. Be interesting to see if my us bank HD card graduates with my app spree if not, bye bye to you too.

Re: Cap One Secured Cards no longer graduate? Next option?

Anonymous — Fri, 03 Jul 2015 14:24:57 GMT

I spoke to Cap1 the other day on my secured and was advised they do not graduate that card. The csr told me I would need to close it out and apply for an unsecured card. I figure the money I put on it to start my rebuild is a small investment that pay returns in better cards down the road.

Re: Cap One Secured Cards no longer graduate? Next option?

Anonymous — Fri, 03 Jul 2015 17:10:01 GMT

What are your scores?

Re: Cap One Secured Cards no longer graduate? Next option?

AKO17 — Fri, 03 Jul 2015 17:17:38 GMT

EQ: 631 TU: 596 (hoping for an update here soon, it hasnt moved in months) EX: 623

Re: Cap One Secured Cards no longer graduate? Next option?

Anonymous — Fri, 03 Jul 2015 17:20:11 GMT

I would go to Barclays and app for the rewards.

Re: Cap One Secured Cards no longer graduate? Next option?

Anonymous — Fri, 03 Jul 2015 17:21:30 GMT

They haven't moved? Mine weren't moving until I pulled the reports and boom increases. Call my fico and tell them. Do you have the 3 bureau monitoring?

Re: Cap One Secured Cards no longer graduate? Next option?

AKO17 — Fri, 03 Jul 2015 17:24:51 GMT

I do have MyFICO CMS. TU hasnt moved in months. EX and EQ have both jumped 30-40 points since begining of June!

Re: Cap One Secured Cards no longer graduate? Next option?

Anonymous — Fri, 03 Jul 2015 17:25:50 GMT

Have them pull tu

Re: Cap One Secured Cards no longer graduate? Next option?

Anonymous — Fri, 03 Jul 2015 17:26:27 GMT

It's clearly stuck.

Re: Cap One Secured Cards no longer graduate? Next option?

AKO17 — Fri, 03 Jul 2015 17:33:02 GMT

I called. They said there is nothing they can do! That it is TU's issue... Of course.... And TU is closed today!

Re: Cap One Secured Cards no longer graduate? Next option?

Anonymous — Fri, 03 Jul 2015 17:35:09 GMT

No way, what date was the last tu update?

Re: Cap One Secured Cards no longer graduate? Next option?

Anonymous — Fri, 03 Jul 2015 17:36:25 GMT

Btw did you check cap 1 pre qual site??

Re: Cap One Secured Cards no longer graduate? Next option?

AKO17 — Fri, 03 Jul 2015 17:43:42 GMT

I did. It suggests the Platnum card which I just upgraded from.