Cap1 Secured. Someone remind me it's a good card?

[Anonymous]

Dreading the $49+ deposit just to get a decent limit..but I liked that no annual fee...and we're already approved. (trying to fix my credit and someone else's)




Do you really gety our deposit back within 5 months?

$200 is cringeworthy but so is the pull already on the reports..experian and TU.

Seems putting $100 or $200 security deposit didn't bring the limit up that much more so I kind of just want to leave it at $49.


Credit Score was 650 by the way and dropped down to 633  after Cap One pulled TU and Experian. First credit card in 6+ years so I thought this was the best way to go to avoid a denial...but deposit hasn't been made yet.

[Anonymous]

You will not get your deposit back in 5months..... False info there.....

At 6months you will most likely get a $300cli..... That's the only CLI you will get......

For reference some people have had the card for 2+ years and have still not received their deposit back....

[Anonymous]

It is a nice card though and Capital one is great to work with... You can choose the design of your card, your payment due date, and they have a mobile app with an awesome interface... Those are all of the perks I can think of..

[Anonymous]

I just cancelled mine after 1.5 years. You will not get your deposit back until you cancel the card. But after 5-6 months you will get like a $300 limit increase. But that said, it is a good card. Was the best secured card out there when I applied for mine. Got my credit started. No annual fee, no foreign transaction fee. It's pretty good.

[Anonymous]

And at this point it'd be pretty bad to have the pulls and approval there yet never send in the deposit, right?

[Anonymous]

I guess I have the old platinum with the $29 annual fee. It and capital one in general are good for building up your credit but once that is done then the card is useless. I've got a $200 limit that never moved and hasn't been unsecured. I'll be closing it this summer when the AF is due. 

[Anonymous]

Hi OP. I don't have the secured card with Cap 1, although I do have a Cap1 card. As for getting deposits back, there are some MyFicoers who have indeed received their deposits back. However, many more have not. Unsecuring and receiving the deposit back is apparently a new program for Cap 1 and it seems to be targeted to certain individuals, rather than widespread. I just wanted to say that it's possible that you can become unsecured and get your deposit back, but it is by no means a guarantee.