Cap 1 secured

[Anonymous]

I was recently approved for the cap 1 secured card. I have not received it yet, just wanted some tips/advice for using this card to get it to graduate quickly to unsecured. Is there a certain amount of time that is required to pass before it can become unsecured? Or is it just based on how I use it and pay? TIA!!

[CH-7-Mission-Accomplished]

Cap 1 secured cards do not unsecure.  They do sometimes give a modest credit line increase at 6 months, but that's it  You should wait 3 or 4 months and then apply for their regular Platinum card and/or Quicksilver One.

[Anonymous]

Well that's a bummer. I read in these forums they unsecure which is why I applied.

[Anonymous]

Its not gonna unsecure no matter what you do . Its still very good for credit building . Use it as much as you want just make sure you only let 10% or less report to the CB's .I started with the same card and now I have Chase , Discover , Amex and a Quicksilver .

[Anonymous]

Yea It's BOA secured that graduates.. Not Cap 1. I got the 2 mixed up. So after a period of time with this card, I could just apply for an unsecured cap 1 card, correct?

[elim]

---

@Anonymous wrote:

Well that's a bummer. I read in these forums they unsecure which is why I applied.

---

   i havent found any on these forums that unsecured execpt the ones that were transferred to Cap1 from other lenders.

[onepointatatime]

---

@Anonymous wrote:

Yea It's BOA secured that graduates.. Not Cap 1. I got the 2 mixed up. So after a period of time with this card, I could just apply for an unsecured cap 1 card, correct?

---

I can confirm that the Capital One secured card does *not* convert, period.

You can apply for an unsecured any time you want actually.  I got started with unsecured credit under Capital One with a Quicksilver One, which I was able to convert (after only 6 months) to a standard Quicksilver, and also bump up my credit line from $750 to $2K, using the EO.  I started out at $500, the bump to $750 was automatic after 6 months

[IamB2]

---

@Anonymous wrote:

Well that's a bummer. I read in these forums they unsecure which is why I applied.

---

I have not seen anywhere in these forums where it was mentioned that Capital One secured card "Graduated" to an unsecured. I had one until November of last year, and they wouldn't unsecure - said it is not possible - so I closed and applied for a new unsecured card.

[Anonymous]

Take this with a grain of salt, but I talked to a CSR at Cap1 a few months back, and she was telling me there was a possibility of them doing a graduation program for their secured card in the future. As of now, they don't unsecure them.

Besides the BoA, another card that will graduate is the FNBO secured card (which also comes with a free monthly EXP FICO).

[dobirdsmommy]

I have had my Capital one PARTIALLY secured for 4 years this month. I paid 49 into this card thats all! I now have a 750 credit limit with it. It is my oldest CC so I am keeping it. Have they been generous with Unsecured CL yes.   My QS with them was a Orchard Bank Gold card at one point with a 300 CL. It was PC'd over to QS and I am now at 5k CL with them.  I will probably hold my card for another year or so until I want another inquiry.  I have 5 coming off in the next 2 weeks.