unsecure or PC cap1

[Anonymous]

I have a cap1 secured card currently that i just recently got.   I still have time yet, and plenty of building to do still.   i was wondering if it doesnt unsecure like i have heard some ppl talking about, would it be better/easy just to PC it over to a quicksilver instead of just cancelling and getting another unsecured card to start over with

[Anonymous]

Capital One "recently" changed the secured card to one that will graduate after a certain amount of time.  You just got the card so use it wisely and at some point in the future it should unsecure/graduate.

Older secured cards from Capital One (I believe before 2016 or 2015) didn't unsecure ever -- so if you're looking at older posts, those are no longer relevant.

You probably won't be able to PC a secured card into anything until it secures.  You can apply for a new Capital One unsecured card 6 months after your first app -- so wait until then and use their prequalification page to see what you qualify for in the future.

[Anonymous]

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@Anonymous wrote:

Capital One "recently" changed the secured card to one that will graduate after a certain amount of time.  You just got the card so use it wisely and at some point in the future it should unsecure/graduate.

Older secured cards from Capital One (I believe before 2016 or 2015) didn't unsecure ever -- so if you're looking at older posts, those are no longer relevant.

You probably won't be able to PC a secured card into anything until it secures.  You can apply for a new Capital One unsecured card 6 months after your first app -- so wait until then and use their prequalification page to see what you qualify for in the future.

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Thank you.   that is good info to have.   guess the older posts had me thinking i would have to start over as far as AAoA is concerned if it didnt grad after a year or so.

[Anonymous]

The Capital One cards are really hard to analyze because even though the cards may all look and sound the same in a given package, they're probably internally different in Capital One's secret database.  A secured card with a $200 SL might have 3 different deposit requirements ($49, $99, $200 deposits) and all 3 might be totally different "cards" in their internal system.  So what happens to one person may not be anything close to another person.

Using the card is helpful to show Capital One that you're a safe risk.  Not keeping high balances is probably smart.  NEVER be late, of course.  You might graduate early, or late, but all the secured cards do appear to graduate now.  Eventually.

[Anonymous]

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@Anonymous wrote:

The Capital One cards are really hard to analyze because even though the cards may all look and sound the same in a given package, they're probably internally different in Capital One's secret database.  A secured card with a $200 SL might have 3 different deposit requirements ($49, $99, $200 deposits) and all 3 might be totally different "cards" in their internal system.  So what happens to one person may not be anything close to another person.

Using the card is helpful to show Capital One that you're a safe risk.  Not keeping high balances is probably smart.  NEVER be late, of course.  You might graduate early, or late, but all the secured cards do appear to graduate now.  Eventually.

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I'm in the $99 bucket, so not sure if that help me any, but it gave me hope that maybe it wasnt as bad off as when i first started and apped the card.   i got a disc too hoping for that in 7 months but we'll see

[Anonymous]

Best bet is to start letting things age.

If you don't have an installment loan of any kind reporting, do the Alliant SSL trick right away -- no hard pulls involved and it costs you all of $50 or so to do it over a few weeks.  It'll help your FICO08 scores which helps current creditors see your scores are improving.

Otherwise, sit and wait it out.  Use your cards well, keep utilization low (under 9% on your statements) and over time your scores will start climbing.