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11th statement capital one secured

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Regular Contributor

Re: statement capital one secured

Mine unsecured last year right when it was suposed to and I got my refund. They also more than doubled my limit for my unsecured credit line..

 

Reading this forum today, it's been a while, it seems like credit cards are tightening up. Is this a sign of impending economy problems?

It is just one more thing that makes me nervous that another 2008 is on the way..

 

I had a bit of a rough start to winter and about maxxed out all of my cards until just now.

I got my tax returns now and have completely paid off 3 of my 4 cards and plan to pay off the 4th completely when the rest of my returns arrive, but is that a good decision?

 

If these cards are going to squeeze maybe I should leave it hanging just incase shtuff happens?

Maybe I would rather get caught up with some debt than with no money.. 

What do you think?

 

Somehow I'm at a bit over 700 fico with 84% util reporting.

I have been looking forward to paying them all completely off right now and seeing a beautiful score, but am worried that they will start to balance chase me and squeeze me out of my security net of credit especially with the recent news here..

 

All credit cards are reducing their bonuses. Secured cards are dinosauring. What is going on?

Message 11 of 14
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Member

Re: 11th statement capital one secured

Lies. I seriously just got of the phone with capital one and they assured me that my card would be considered for an upgrade to unsecured in the future. It's currently 6 months old. No long discussion, no problems communicating, but its for sure possible.

Message 12 of 14
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Valued Contributor

Re: 11th statement capital one secured


@Spectre74 wrote:

Lies. I seriously just got of the phone with capital one and they assured me that my card would be considered for an upgrade to unsecured in the future. It's currently 7 months old. No long discussion, no problems communicating, but its for sure possible.


I had participated in that other thread and was told through a chat that they do still unsecure. With that being said I hit my 11th statement last week and they have done nothing with mine. My scores at the time of initial approval where my starting scores in my sig, so I've increased all of them over 100 points. Also tacked on two other cards with a 30K combined limit. I said I was going to give them a year to unsecure and I think I am going to still do that, but if it does not do something by next statement cut its time to say good-bye.

 

For those expecting CLI's on these secured cards, you may not be successful. They did give me a 300 auto CLI at about 7 months, but I clicked the button when I read the other thread and received a denial with a reason this card type is not eligible for any limit increases. 

 

I just don't like having my money tied up and earning no interest if they are not going to honor the original agreement that they would unsecure it after positive payment history.

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 1/03/20:


First Goal Score: 750+ Reached 3/2019

Next Goal all over 800
Message 13 of 14
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Community Leader
Super Contributor

Re: 11th statement capital one secured

Cap1 flip-flops on graduating. Depending on when you got it will dictate whether it will graduate. And, despite what most people post, secured cards are ususally on a timeline of 12-18 months to graduate depending on the issuer. Just because they offer early graduation doesn't mean everyone gets it.







Message 14 of 14
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