topic Re: Cap 1 secured has me nervous.... in Rebuilding Your Credit

Cap 1 secured has me nervous....

Anonymous — Thu, 23 Feb 2017 19:44:58 GMT

I was approved for a Capital One secured card. However, they said I could not pay my deposit with my debit card and that it had to be drafted out of my bank account. I am EXTREMELY hesitant about giving my account info to someone. Are there any other secured cards available with established companies that will let you pay deposit with a debit card??

Re: Cap 1 secured has me nervous....

Anonymous — Thu, 23 Feb 2017 20:44:23 GMT

Primor - First Choice Bank

https://www.securedcardchoice.com/GoldVisa/ApplyStepOne.aspx

I had it and routinely increased my credit limit with my debit card. I had low interest 9.9% I think.

I've since closed it.

Re: Cap 1 secured has me nervous....

Shooting-For-800 — Thu, 23 Feb 2017 20:50:37 GMT

Did you try an UNsecured card application from Cap One? Their limits start at $300.

Re: Cap 1 secured has me nervous....

Anonymous — Thu, 23 Feb 2017 21:56:24 GMT

@Anonymous wrote:
I was approved for a Capital One secured card. However, they said I could not pay my deposit with my debit card and that it had to be drafted out of my bank account. I am EXTREMELY hesitant about giving my account info to someone. Are there any other secured cards available with established companies that will let you pay deposit with a debit card??

So ... how will you pay for the Capital One bill when it's due? Paper check?

You're going to need to provide that information eventually, and many, many of us on this forum have provided Cap 1 with our banking information without an issue.

Why would you trust your information to a lesser known card provider?

Re: Cap 1 secured has me nervous....

rmduhon — Thu, 23 Feb 2017 22:23:07 GMT

Out of 9 Cap1 cards between hubby, me, and my mom and 1 auto loan all set to a bank account (all our bills including mom's are paid from this account) we have never had an issue. You can relax

Re: Cap 1 secured has me nervous....

rmduhon — Thu, 23 Feb 2017 22:24:23 GMT

Actually, 11 accounts. I forgot Buy Power was Cap1

Re: Cap 1 secured has me nervous....

Anonymous — Thu, 23 Feb 2017 23:28:48 GMT

I pay all of my bills with a seperate reloadable card. I did go ahead and let them draft this one time.

Re: Cap 1 secured has me nervous....

Anonymous — Thu, 23 Feb 2017 23:30:03 GMT

I had my identity stolen when I was 18 which is the cause of my apprehension.

Re: Cap 1 secured has me nervous....

rmduhon — Thu, 23 Feb 2017 23:36:56 GMT

I understand that. I will say that I have a separate account that's not linked to our main accounts for bills like this. No overdraft, no autopay. I've been stung before by an autopay causing an overdraft.

Re: Cap 1 secured has me nervous....

Anonymous — Fri, 24 Feb 2017 12:17:43 GMT

of the secured cards I would say Cap One is one of the more trustworthy ones. I would never give my info to half the companies that send me solicitations. I have multiple Cap One accounts and they have never caused issues.

If it makes you feel any better I had someone somehow get in to my Chase account and QuickPay themselves a whole lot of cash. Chase covered the whole thing.

Dealing with bigger reputable companies (Cap One being one of them) means they have the capital to cover instances of fraud.

Re: Cap 1 secured has me nervous....

geekmama — Sat, 25 Feb 2017 02:08:38 GMT

If you pay with a check they have your routing number and account number. What's the difference?

Re: Cap 1 secured has me nervous....

Anonymous — Sat, 25 Feb 2017 03:47:56 GMT

I do not use checks. I stopped completely when I was 18 and had my identity stolen. They had also gained access to my checkbook. That is why I pay bills with a reloadable card. It just eases my nerves

Re: Cap 1 secured has me nervous....

Anonymous — Sat, 25 Feb 2017 05:12:40 GMT

@Anonymous wrote:
I pay all of my bills with a seperate reloadable card. I did go ahead and let them draft this one time.

You won't be able to pay credit card bills with a reloadable card.

I had my identity stolen by my own mother and by a stranger (black market site). Both of the parties in question used physical checks (where all of your information and your signature is), whereas reputable, federally regulated and insured banks end-to-end encrypt your information and set up multiple layers of protection to do so. The businesses you send your information to don't even have access to the actual information you give them, even in its encrypted form.

Re: Cap 1 secured has me nervous....

Anonymous — Sat, 25 Feb 2017 05:22:19 GMT

I'm confused. A post you made a month ago states that you had an account with Capital One that was charged off. You would have already given them your account information to pay the bill prior to it going south. Why would you suddenly be leary to give them your information again?

Re: Cap 1 secured has me nervous....

Anonymous — Sat, 25 Feb 2017 06:14:37 GMT

I paid my bills with them with my reloadable debit card. I know it seemed silly to be worried. Everyones words have been comforting!

Re: Cap 1 secured has me nervous....

Anonymous — Sat, 25 Feb 2017 06:24:35 GMT

@Anonymous wrote:
I paid my bills with them with my reloadable debit card. I know it seemed silly to be worried. Everyones words have been comforting!

How, though? I've only got the option to pay with a checking/savings account on all of my accounts.

Re: Cap 1 secured has me nervous....

Anonymous — Sat, 25 Feb 2017 15:40:59 GMT

Seems like if you can pay a credit card with another credit card everyone would be doing free balance transfers. I know i would lol I've only been able to pay Cap One with a checking/saving account. All my credit card accounts are that way. As for being worried about it. Just keep an eye on things but i have used them for years and never had a problem.. I have tons of alerts set up on my accounts for anything so at least I'm aware quicky of suspicious activity and can report it quickly too.

I do like the one post that suggested a basic checking account that's not linked to the others for just paying your bills. I may do that. It might come in handy to have a fall back account too. It would have to be a credit union though. I'm not a bank fan at all.

Re: Cap 1 secured has me nervous....

Anonymous — Sat, 25 Feb 2017 15:51:53 GMT

@Anonymous wrote:
Seems like if you can pay a credit card with another credit card everyone would be doing free balance transfers. I know i would lol I've only been able to pay Cap One with a checking/saving account. All my credit card accounts are that way. As for being worried about it. Just keep an eye on things but i have used them for years and never had a problem.. I have tons of alerts set up on my accounts for anything so at least I'm aware quicky of suspicious activity and can report it quickly too.

I do like the one post that suggested a basic checking account that's not linked to the others for just paying your bills. I may do that. It might come in handy to have a fall back account too. It would have to be a credit union though. I'm not a bank fan at all.

I know i would be lol, and rake in those cash rewards

Re: Cap 1 secured has me nervous....

Anonymous — Sat, 25 Feb 2017 16:16:58 GMT

I pay my Fingerhut card with it too It is just a cheap reloadable Visa. It is the Walmart money card. I use it to pay my utlility bills online as well. It is a handy little thing!

Re: Cap 1 secured has me nervous....

Anonymous — Sat, 25 Feb 2017 16:47:30 GMT

Yes you get merchandise from Fingerhut so you can pay with a credit card. You can purchase from them using a credit card as payment and pay their statement with a credit card. My credit card accounts won't let me though.and I don't know any that will. They have to be paid from a checking/savings account.