Cancelled Capital One Secured

[Anonymous]

I finally cancelled my Cap 1 Platinum secured card. I closed my wife's too. It served its purpose, but $29X2 for a no benefit card was just pointless. I think I'll take the $400 I'm getting back and treat our family to a little weekend trip.

[Anonymous]

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@Anonymous wrote:

I finally cancelled my Cap 1 Platinum secured card. I closed my wife's too. It served its purpose, but $29X2 for a no benefit card was just pointless. I think I'll take the $400 I'm getting back and treat our family to a little weekend trip.

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They wouldn't have gone anywhere anyways. They give one $300 bump and then that's it. No further CLI's, no PC, no combination with another CO card, nothing. They're good for rebuilding but for nothing else.

[Anonymous]

Not all Capital One secured cards are the same internally, tho. Some folks have graduated and PC'd to WAS starting with secured platinum

[Anonymous]

*WAS = QS

Autocorrect lol

[Anonymous]

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@Anonymous wrote:
Not all Capital One secured cards are the same internally, tho. Some folks have graduated and PC'd to WAS starting with secured platinum

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I couldn't get them to tell me the time of day while holding that card... Closed it and into the dustbin it went!

[Anonymous]

Even if this would have "graduated" I believe it would have graduated from secured to a rebuilder with an insulting limit. I had 2 capital one cards that I acquired about 1 year ago, both were obtained at the same time and started at $300, I managed to get one soft pull increase to $800 on one and a credit steps increase in the other. I tried relentlessly to get these upgraded to one of their better cards with 0$ AF. No dice, finally decided to combine the 2 cards so I could actually have at least one card with 1k plus limit. Tried relentlessly to get it upgraded. Finally, I just called in and closed both. Lol felt great. 👍😊

[Anonymous]

I've been considering doing the same. I have a secured platinum (not sure what's so platinum about it) at $300. I've had if since 2009 or 2010, never been late, never been over limit. I also have a QS1 (upgraded from unsecured plat), that I've had since maybe 2014 that they just gave me a $500 increase on, but they won't unsecure or upgrade the secured one. I called and asked about it a couple of weeks ago, and all he'd say is 'the account is reviewed periodically, and may be unsecured at some point'; it's been 7 or 8 years! Never been late or over on my other CapOne card, either. Ridiculous!

[Anonymous]

Any creditor that you can call an automated number to close your account, obviously has to handle allot of closures. I put them far behind and never looked back. 👍

[simplynoir]

The problem with CapOne is that whatever your credit profile was when you signed up for the card whether as a rebuilder and/or not ideal scores it more or less stays stuck on those terms even if you prove yourself with spending. Even when I PC'd my platinum from years ago to the QS I still wasn't able to get any CLIs on it; had to apply for another for that particular QS to see rapid growth. Now the original plat/QS card is sitting in my SD because of how old it is otherwise I would have considered canceling it awhile ago.

[Anonymous]

So i am going through the same thing with cap one now. I called and spoke with two different reps and was told that they have no product available to me. Even though I have had the card since 7-2011. You would think that would count for something. Anyway my CL is only 560 on the card and I have a ton of regular accounts now. We are buying a home and I was wondering if i closed the account if it would hurt my credit score/ AAoA. What affect did it have on you and our wife after you closed it?