Cancelling cap1 secured??? App for QS

[Anonymous]

Can I cancel a cap1 secured that was opened in Nov2018 and app for a QS?

[Anonymous]

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wrote:
Can I cancel a cap1 secured that was opened in Nov2018 and app for a QS?

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I'm sure you meant Nov 2017. Yes you can cancel anytime you want app anytime.

[Anonymous]

Oops. Yes Nov 2017. I have read though that cap1 is 1/6. ?? I also got a Kohls card about that time too that is issued through them. And when I check the prequal site it says " can't match me to any products because I have either opted out or recently accepted one of their offers.

[Anonymous]

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wrote:
Oops. Yes Nov 2017. I have read though that cap1 is 1/6. ?? I also got a Kohls card about that time too that is issued through them. And when I check the prequal site it says " can't match me to any products because I have either opted out or recently accepted one of their offers.

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Oh, I forgot about the 1/6, in that case you wouldn't be able to apply until May 2018. I'm not sure if the 1/6 applies to secured card, maybe someone who knows will chime in.

[Anonymous]

1/6 does include the secured card. 

[Anonymous]

Thank you! Guess I'll just SD it until then. I will put my Netflix on it. Good starter. Gave me quite a few points right out of the gate but pretty much useless after I got the amex, Disc and chase.

[Anonymous]

I've SD'ed my own Cap 1 secured and am planning to BT the remaining balance to a lower-interest card, then use the deposit to pay down/pay off at least one other card. Matter of fact, I'm SD'ing my Cap 1 QS MC too since it's essentially a "starter" upgrade from a Platinum that I got last year, to pay down the balance and combine it with my new QS Visa once it's paid off.

[NateW1269]

I actually canceled my secured today.  I got the starter card in 2016 and it was the first card on my rebuild.  My DH did the same and we opened the accounts on the same day.  We both had very much the same utilization on our cards but they unsecured his last year (sent him a cool email telling him so) and didn't think twice about mine; absolutely no budge.  After numerous requests and denies to unsecure I just decided to let it go.  I opened 3 other accounts 6 months after that so hopefully my AAoA & scores won't take too much of a hit.  The line was only $600.  The craziness of it all is them telling you that they can't unsecure a secured card yet seeing that they did for multiple people (including DH).  I just couldn't see allowing them to just hold on to my money any longer since the card was paid off and no longer in use due to the high APR.  I had no intentions on using it anymore.  When I removed the line from my spreadsheet my total UTL didn't even budge.  I guess I'll know within a few weeks whether that was a bad call or not.

[Shadowfactor]

You can cancel it. Offers won’t start showing up for about a month after canceling.

I got rid of my secured card with them after 3 months and I started getting offers again the beginning of January

[avp99]

after today my secured Cap1 card will be paid off.  I called in the other day to find out if they would switch over to unsecured, but I got the standard "we do it sometimes, but we don't have a set timeline of when or if it will happen."  So my two choices are to leave my money sitting on a secured card that I have no intention of using or using the $1200 I will get back after canceling to pay down other revolvers.