Capital One PC from Secured to Venture (or really, anything else)?

[Anonymous]

Hi guys, i am a tried and true Capital One fan here and I have had this piddly secured card since I started re-building my credit over a year ago and since then I have been approved for a Capital One Platinum (with a $5k limit) and a capital One Quicksilver (with a $3k limit), never a late payment, I use them both pretty regularly...

My question is, do you think I am PC that secured card over to something better? If so, can someone point me to where I can get info on that process? Thanks!

[Pway]

No, the secured card is not available for product change.  They will tell you if you want the product you must apply for it.

[DeeBee78]

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@Anonymous wrote:

Hi guys, i am a tried and true Capital One fan here and I have had this piddly secured card since I started re-building my credit over a year ago and since then I have been approved for a Capital One Platinum (with a $5k limit) and a capital One Quicksilver (with a $3k limit), never a late payment, I use them both pretty regularly...

My question is, do you think I am PC that secured card over to something better? If so, can someone point me to where I can get info on that process? Thanks!

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So you want to PC from Capital One's lowest card to their highest card? Good luck! 

Kidding, I'm kidding! However Pway is right. Generally Cap1 doesn't fully unsecure or PC their secured cards. Some people have had success getting the card fully unsecured by the Executive Office, but it's definitely a YMMV situation.

I would call and ask, and if they do, that could help you obtain PC's down the road.

[Anonymous]

I literally LOL'd at your comment, but you are totally right. They do not PC from secured. Ever. IDK if I should get rid of it or what...???

[Erusidhion]

    Keep it until you can get 2 more cards. Probably a Quicksilver/Venture/Venture One. If you do apply for one of these 3 and you get approved make sure you apply immediately for another one so it only counts as 1 HP per bureau and not 2. If you apply for one of these and get denied; you could probably double app and try and get another Platinum or Quicksilver One.

    Your endgame is to get 5 cards with Capital One, all Quicksilvers/Ventures/Venture Ones. At least I think that's the goal of everyone with 5 cards through them unless they also want a few of the business cards through them. But definitely keep the secured until you have to dump it to get your 5th. The annual fee is low enough to be worth it to keep building your history with Capital One.

    With the 2008/2009 consumers that got into financial trouble during the years coming back into the fray; you're going to see a lot of Credit Card companies fighting to get everyone back into owning and using their cards. These next few years will be very interesting! There could be deals popping up all over for current cardholders/new cardholders. It is an exiciting time to be in the credit game.

    Good luck in whatever you try! Keep your eyes on the board daily to see if anything pops up. I missed a few of the gravy trains because I skipped reading the boards a couple of days. Hopefully these next few years I'll be able to jump on another.

[baller4life]

Ditch it. It's dead weight. You have moved on.

[Anonymous]

That's some interesting insight, Erusidhion, I actually already have 2 other cards with them - Quicksilver and Platinum (with a recently-raise limit and both came from pre-quals), so I have other cards with them, but I was never thinking to get 5 cards, seems like a lot to me.

I do think I am going to just keep it open, because it's my longest standing credit card account that is in good standing and I don't actually think I've been charged an AF...

Thanks!!!

[SecretAzure]

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@Anonymous wrote:

That's some interesting insight, Erusidhion, I actually already have 2 other cards with them - Quicksilver and Platinum (with a recently-raise limit and both came from pre-quals), so I have other cards with them, but I was never thinking to get 5 cards, seems like a lot to me.

I do think I am going to just keep it open, because it's my longest standing credit card account that is in good standing and I don't actually think I've been charged an AF...

Thanks!!!

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Yup. They have me trapped. Just paid for my 4th year of having it open. So depressing. I tried EO and everything. They won't waive the AF or let me PC it. It still holds up my AAOA so I can't ditch it just yet. Also, i'm emotionally attached to all stepping stones in life and this was one of them.

[baller4life]

Hold up your AAOA? If you close it, it still factors in for the next 10 years.

[SecretAzure]

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@baller4life wrote:
Hold up your AAOA? If you close it, it still factors in for the next 10 years.

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Yes-Its-Me has provided evidence to the contrary, shows it might not actually count for 10 years for all purposes.