topic Re: Capital one secured card in Rebuilding Your Credit

Capital one secured card

washington12 — Fri, 28 Aug 2015 00:27:04 GMT

I have a cap one secured card. I was wondering if anyone has haf any luck getting it unsecured? If not that how about a cli? I know I know, you have to make a deposit for a larger credit line. Funny thing is if you go to their website and select the secured card at the bottom of the FAQ page under credit limit increase. It does say you can earn an increase based on payment history and creditworthiness. I've had it for 2 years. No lates and always pay over the minimum keeping the utilization to about 20% I tried calling and emailing, but no rep for some reason can tell me anything about it or why I havent gotten an increase or when I will, but my journey card was pc to the quicksilver happy about that! Please let me know anything!

Re: Capital one secured card

seruby — Fri, 28 Aug 2015 00:49:55 GMT

I opened my secured card with them about 2 years ago. Started with a $200 CL, after 3 months, they increased it to 300. After another year or so, they raised it to $750. I put nothing extra down, so it's all them raising it. That's where it currently is. Probably been there for about 6 months or so. Haven't tried getting it unsecured, but they did give me a QS card with a $3,000 limit, which they soon increased to $6,000.

Btw, you want your UTI to be under 10% preferably, not 20%.

Re: Capital one secured card

washington12 — Fri, 28 Aug 2015 01:20:49 GMT

That's nice I'd like to get my limits that high. Only have fingerhut over 1k. Yeah idk I just thought it was odd that no one could tell me anything. I'll knock the utilization down to and try again I guess. I'd like to close the account all together and just get my money back but it is my oldest and my others are only breaking 20 months now. Do you request cli every 6 months from cap one?

Re: Capital one secured card

Pway — Fri, 28 Aug 2015 01:27:06 GMT

The secured card with Capital One does not unsecure. It is used as a rebuilding card and that is it. When you call they will tell you to apply for another product. Yes they will do a randon CLI on the secured card but that is about it. You cannot request one because they will tell you the card is ineligible for CLI's.

Re: Capital one secured card

washington12 — Fri, 28 Aug 2015 01:30:51 GMT

Well the rep on the phone said it can be unsecured but they are not unsecuring any at this time. Who knows when or if they will unsecure any of them. Maybe the rep didn't even know what she was saying, it'd be nice if I could unsecured and upgrade it.

Re: Capital one secured card

seruby — Fri, 28 Aug 2015 01:53:50 GMT

I never request a CLI. They just give it to me at random. It's always a nice surprise when I look at a statement online and see my CL has been increased.

Re: Capital one secured card

needtodobetter — Fri, 28 Aug 2015 02:20:56 GMT

I had mine for 3 years and never received a CLI, but I know others have. I closed it a couple of months ago and applied / was approved for a QS1.

Good luck!!!

Re: Capital one secured card

Anonymous — Tue, 29 Sep 2015 20:58:53 GMT

This is some great info, I recently opened one(july) with them and have a $200 limit and was wondering the same things. I feel like I read somewhere in the terms and conditions that they will unsecure it at some point, but that could just be my wishful thinking.

Re: Capital one secured card

crrredit — Tue, 29 Sep 2015 21:13:31 GMT

I started with $99 for a $200 limit. Then I added $500 because I wanted to be able to use it on trips for hotel/rental car, etc. Then after 6 months they raised it $300 to $1,000. I have since attained unsecured cards, but I took advantage of 0% interest deals to get some furniture for my new place, so I'm keeping the secured card around to help with utl % until I pay off the furniture in a few months. Trying to time it so I close it just before the annual fee comes due.