cancel
Showing results for 
Search instead for 
Did you mean: 

11th statement capital one secured

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Highlighted
Established Member

11th statement capital one secured

My 11th statement cut a few days ago and I was expecting a graduation. It didn't happen. I just called cap 1 and spoke to a rep and a supervisor who assured me there was no such thing as a graduation and that the card will never unsecure. They had the audacity to act as if it were never a policy, like I was making it up. They said the deposit will never be refunded.

I'm so not happy about this as this is the first card in my rebuild. I no longer have any use for the card. Should I close it now or wait until the 12th statement?

Fico 8 as of 5/7/18
Fico 8 as of 1/11/19
Message 1 of 14
13 REPLIES 13
Highlighted
Valued Contributor

Re: 11th statement capital one secured

So sorry to read that... imsorry.gif

 

You are not alone Brooklyn got the same... https://ficoforums.myfico.com/t5/Credit-Cards/I-was-just-informed-by-Cap1-UPDATE-Cap1-quot-Secured-G...

 

Looks like this is a reality for Cap One now... 




Message 2 of 14
Highlighted
Established Contributor

Re: 11th statement capital one secured

There was a thread about this earlier in the week. I can't remember the title, something like Capital One Just Informed Me...
This seems to be a new thing as of 2018.
So sorry. I'm not a Cap1 fan. I have one of their cards and plan to just let it loose after it nears the next AF.

All the Best...
Starting Score: EX 641 TU 631 EQ 669
Current Score: EX 714 TU 718 EQ 713 (EQ9 735)
Goal Scores: 750


Take the myFICO Fitness Challenge




Message 3 of 14
Highlighted
Established Member

Re: 11th statement capital one secured

This really makes me not want to do business with them at all. I wish I would've used the entire deposit toward my discover, which unsecured at the 8th statement. I'm definitely going to cancel this card but I'm concerned about the timing. Should I do it now or a month from now?

Fico 8 as of 5/7/18
Fico 8 as of 1/11/19
Message 4 of 14
Highlighted
Established Contributor

Re: 11th statement capital one secured

Ha! I must've been typing while @Pic was replying.
If the card no longer has a purpose, why wait?
Starting Score: EX 641 TU 631 EQ 669
Current Score: EX 714 TU 718 EQ 713 (EQ9 735)
Goal Scores: 750


Take the myFICO Fitness Challenge




Message 5 of 14
Highlighted
Valued Contributor

Re: 11th statement capital one secured


@buildingcredit19 wrote:
This really makes me not want to do business with them at all. I wish I would've used the entire deposit toward my discover, which unsecured at the 8th statement. I'm definitely going to cancel this card but I'm concerned about the timing. Should I do it now or a month from now?

Yeah, it seems counterproductive to their business model which has always granted credit to rebuilders..

 

I don't think an extra month makes any difference in the grand scheme of things.

Unless you want to hold out hoping they might still unsecure..

Can't you add to your Disco deposit after you close the Cap One and get your funds returned? 

Really sorry.. 

 

ETA: and this time I'm in the slow typist corner LOL




Message 6 of 14
Highlighted
Established Member

Re: 11th statement capital one secured

I'll cancel now, this was my last secured card. Thank you for your help!

Fico 8 as of 5/7/18
Fico 8 as of 1/11/19
Message 7 of 14
Highlighted
Established Member

Re: 11th statement capital one secured

FYI, when I called back to cancel the rep admitted that they previously unsecured cards, but now they "temporarily" put that on hold. They weren't sure when/if they would start back.

Fico 8 as of 5/7/18
Fico 8 as of 1/11/19
Message 8 of 14
Highlighted
New Contributor

Re: 11th statement capital one secured

Mine unsecured in June 2018. It has since been converted to Quicksilver. That sucks if they won't do that anymore. It really does not seem like it would be worth it moving forward.
Message 9 of 14
Highlighted
New Contributor

Re: statement capital one secured

Mine unsecured in June 2018. It has since been converted to Quicksilver. That sucks if they won't do that anymore. It really does not seem like it would be worth it moving forward.
Message 10 of 14
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.