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Congrats! You've been approved for the Capital One Secured MasterCard

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Regular Contributor

Congrats! You've been approved for the Capital One Secured MasterCard

Got $99 deposit for $200 line of credit. Its secured but hey, you've got to start somewhere...
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Message 1 of 20
19 REPLIES 19
Regular Contributor

Re: Congrats! You've been approved for the Capital One Secured MasterCard

Congrats on the approval and start of your rebuild!  It will grow and unsecured over time.  Keep it paid down and always on time.  You will be surprised at how fast your credit portfolio will grow!

TU:808 / EQ:797 / EX:791 as of 6/8/19
Message 2 of 20
Community Leader
Super Contributor

Re: Congrats! You've been approved for the Capital One Secured MasterCard

Nothing to be ashamed of as we all have to start somewhere when building or rebuilding credit. Congrats on your new card, and just is wisely. 6mo-1yr from now, you'll be surprised what this secured card will get you as far as credit goes in the futureSmiley Happy

My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 3 of 20
Valued Contributor

Re: Congrats! You've been approved for the Capital One Secured MasterCard

From 1 Rebuilder to another Rebuilder, CONGRATS  on starting your Rebuild Project and All the Best on your Journey!

AMEX BCE $8K | AMEX Cash Magnet $15K | Citi DoubleCash WEMC $12.2K | Citi AAdvantage WEMC $12.5K | Discover $15.5K | OpenSky $300 BB&T Cash Rewards $4.5K | Synchrony (PayPal Credit $4K, Care Credit $15K, & PayPal 2% MC $10K) | BBVA Compass Rewards VS $10.5K |
Apple Card MC $6K | NFCU cashRewards $1K
TCL - $114K+ | Rebuilding since April 2018
Message 4 of 20
Valued Contributor

Re: Congrats! You've been approved for the Capital One Secured MasterCard

I was where you are a few years ago, congrats on the first step on your journey.  Visit the rebuilding section here and post your details and the good folks here will help you tremendously.  I went from mid 500's and barely able to get a 300 limit to 700's and over 170k in available limits and I owe much of that to the advice and encouragement of the folks here.

Message 5 of 20
Contributor

Re: Congrats! You've been approved for the Capital One Secured MasterCard


@dytch2220 wrote:
Got $99 deposit for $200 line of credit. Its secured but hey, you've got to start somewhere...

Yes. Every journey starts with a first step. Congrats.

GoingGold
*UPDATED AS OF 09/09/2019*
EQ: 712 ___ TU: 708 ___ EX: 689
Utlz:1% ___ Old Lates/COs: 2 ___ Collections: 0 ___ Public Records: 0 ___ Last Late: 2.1 yrs ___ AAoA: 7.1 yrs ___ AAoOA: 23.10 yrs

AMEX PLATINUM ___ AMEX GOLD = $3,000 (P.O.T) ___ AMEX BONVOY BRILLIANT = $5,000 ___ AMEX CASH MAGNET = $1,000
CAP ONE VENTURE = $30,000 ___ CAP ONE QUICKSILVER = $3,500 ___ CAP ONE PLATINUM SECURED = $500
BANK OF AMERICA CASH REWARDS = $15,000 ___ BANK OF AMERICA PREMIUM REWARDS = $15,000
DISCOVER IT MILES = $15,000 ___ FIDELITY INVESTMENTS CASH REWARDS = $16,500
**TOTAL OVERALL CREDIT LIMIT = $101,500, or $104,500 if you include the Amex Gold P.O.T option CL.
Message 6 of 20
Established Contributor

Re: Congrats! You've been approved for the Capital One Secured MasterCard

You're doing it right, and Cap One is a good starting point!

Amex PRG (NPSL), Amex Blue Cash ($8K), Amex Simply Cash+ ($4K), Discover ($20.7K), Cap 1 Union Plus MC ($2500), Chase FU Visa Sig ($12K), Chase F Visa Sig ($8.3K), Chase CSP Visa Sig($6.5K), FCB/Elan Rewards Visa Sig($10K), Buckle ($1.3K), BofA AAA Rewards ($67.6K), Paypal credit ($7.8K), BBVA Clearpoints ($7.5K), Cap 1 Savor ($10K)
Message 7 of 20
Established Contributor

Re: Congrats! You've been approved for the Capital One Secured MasterCard

Congrats on the CapOne approval and good luck building your credit!





Message 8 of 20
Established Contributor

Re: Congrats! You've been approved for the Capital One Secured MasterCard


@dytch2220 wrote:
Got $99 deposit for $200 line of credit. Its secured but hey, you've got to start somewhere...

And you have started! Congratulations!



“If you don’t know, the thing to do is not to get scared, but to learn.” – Ayn Rand
Message 9 of 20
Regular Contributor

Re: Congrats! You've been approved for the Capital One Secured MasterCard

Thanks everyone!  For the benefit of others...

 

I don't know what my FICO score was at the time of this approval, however, my TransUnion Vantage 3.0 was a 543 as reported by Mint.com.  After applying for the card my score dropped 1 point to a 542.

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Message 10 of 20
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