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CapitalOne (Secured) CLI

ecniVince
Valued Member

CapitalOne (Secured) CLI

Received a $300 increase on my Secured Platinum MC after my 6TH statement cut this week.

Data Points: Score +/- 650 across
Actual card utilization at the 6TH statement cut is 28%

I have by now means heavily used this card, but it's always cycled out every month with a balance (at times, as high as 70%). I've even purposely carried a balance from time to time.

Very thankful for this card and what it has done the past 6 months in MAJORLY boosting my scores!
Message 1 of 12
11 REPLIES 11
Disabled-Vet
Valued Contributor

Re: CapitalOne (Secured) CLI

Congratulations ecni, my third statement just posted, I'm not far behind you. Nice scores by the way.

Are you going to keep the card now that your scores are high enough to get better unsecured cards?


     $500         $1,000        $1,300        $1,500        $1,850         $3,400        $3,500                            $9,500        $1,000
Message 2 of 12
ecniVince
Valued Member

Re: CapitalOne (Secured) CLI

Thank you, D-V! Sounds like your card is about to receive that increase too!

Will I keep the card? Yanno, I haven't decided much on that or really given it serious thought tbh. What do you suggest I do? I would definitely like to get some advice from everyone too?

All I know is - in April 16 my score was like 500 (fico scores). I had NEVER had a credit card. My credit score was shot due to medical bills when I was 20. I went my entire life having 0 credit. 15 years later, I applied for a secured card with CapOne. 2 weeks later Discover sent me an invite for the Secured It card. Put $1000 on both. That was 6 months ago. Last month I apped with Amex for the Delta Gold, instant approval! I turned right around and apped for the Amex PRG, instantly approved (only because of the indo I learned from the members on myfico forums btw). D-V, that Amex card Delta card was THE FIRST cresit card, unsecured, I have EVER been approved for in my life! The next day I apped for a Barclay's Rewards card. Another instant approval! Turned right around and Apped Wally world and ANOTHER instant approval.. lol Again, only because of what I've learned from the myfico fkrums community, I knew it was time to STOP Appling at that point and head back to the garden. So I did. The Discover it secured card & Cap1 MC turned it all around. 180° in fact! Mostly tho, it was this forum community right here that proved instrumental in my rebuild.

Ok...ok... rant over. You just hit a soft spot with your qyestion.. lol sorry I went all "writing a book" type of a reply on you.. hahaha

Message 3 of 12
Disabled-Vet
Valued Contributor

Re: CapitalOne (Secured) CLI

Lol no problem, sounds like you have some great cards and all the credit you need for quite some time. I'd sit back and let those cards and limits grow. I would definitely keep that secured discover card and wait for it to unsecure. As far as your Cap 1 card, I'd say it has served it's purpose and get your money back, but I'd let the more seasoned veterans here give you better advice. Thanks for sharing!


     $500         $1,000        $1,300        $1,500        $1,850         $3,400        $3,500                            $9,500        $1,000
Message 4 of 12
austinguy907
Valued Contributor

Re: CapitalOne (Secured) CLI

Gardening will pay off even with the secured cards.  There are stories here showing they will both eventually become unsecured at some point either 6 or 12 months if you poke and prod them to do so.  Both have excellent growth opportunities once they graduate.  Just sit tight with your new additions and don't go overbaord.  Time is the key once you have some decent cards and the limits allowed to grow instead of adding more accounts.  Remember to read up on the 3X CLI for AMEX and give Discover some love while waiting on it to convert.  Once it does you have a great addition that grows consistently.

Message 5 of 12
Disabled-Vet
Valued Contributor

Re: CapitalOne (Secured) CLI

Capital one doesn't unsecure that's the only thing.


     $500         $1,000        $1,300        $1,500        $1,850         $3,400        $3,500                            $9,500        $1,000
Message 6 of 12
austinguy907
Valued Contributor

Re: CapitalOne (Secured) CLI

Interesting to say the least..... WTH is the point other than reporting the line while building?  Doesn't appear that they have an official stance though on converting or not from the T&C page or some quick searching.  I thought when it hit a certain time / payment period it automatically would convert to a Platinum card at the same as secured limit.  Seems like everyone else that does secured products converts.... 

Message 7 of 12
Disabled-Vet
Valued Contributor

Re: CapitalOne (Secured) CLI

Yeah no they don't unsecure. It remains secured until you close it.


     $500         $1,000        $1,300        $1,500        $1,850         $3,400        $3,500                            $9,500        $1,000
Message 8 of 12
Disabled-Vet
Valued Contributor

Re: CapitalOne (Secured) CLI

Lol and I agree with wth moment, but I think that's the point it's strictly a builder to help improve and move on to other Cap 1 products when you qualify.


     $500         $1,000        $1,300        $1,500        $1,850         $3,400        $3,500                            $9,500        $1,000
Message 9 of 12
michikade
Valued Contributor

Re: CapitalOne (Secured) CLI

If pigs decide to fly and they happen to unsecure a Cap One Secured Mastercard at any point, please let me know (and if they do mine next month when I go in to close mine (because I'll call to do it and see if I can get 'em to budge, hahaha) you guys can bet your buns I'll post a thread immediately).

 

Hahaha.

 

Congrats on completing Credit Steps!!  It's nice to see things moving in the right direction.

Message 10 of 12
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