According to the Capitol One secured card site, you can still increase your limit (with exceptions). It is still possible to be issued an increase.
"$200 - $3,000. Minimum required security deposit gets you a $200 initial credit line. Deposit more than your minimum required security deposit before your account opens to get a higher initial credit line, up to $3,000"
FAQ:
"If your application is approved and you provide the minimum required security deposit prior to the expiration date, your account will be opened, and you will receive the minimum initial credit line of $200. To increase your initial credit line, simply deposit more than your minimum required security deposit within 80 days of being approved and before you activate your card. You can raise your initial credit line by the amount of your additional deposit, up to $3,000. You may also earn a credit line increase later based on your payment history and creditworthiness."
@RCOH wrote:According to the Capitol One secured card site, you can still increase your limit (with exceptions). It is still possible to be issued an increase.
"$200 - $3,000. Minimum required security deposit gets you a $200 initial credit line. Deposit more than your minimum required security deposit before your account opens to get a higher initial credit line, up to $3,000"
FAQ:
"If your application is approved and you provide the minimum required security deposit prior to the expiration date, your account will be opened, and you will receive the minimum initial credit line of $200. To increase your initial credit line, simply deposit more than your minimum required security deposit within 80 days of being approved and before you activate your card. You can raise your initial credit line by the amount of your additional deposit, up to $3,000. You may also earn a credit line increase later based on your payment history and creditworthiness."
Good on the data point.
@Aduke1122 wrote:
Thanks for the info , good to know! Another quick question , I have two secured cards one Cap one and then Usaa and a fingerhut , I've been reading you need atleast 3 bank cards and 1 store credit open , any other cards I could possibly get right now, still rebuilding at the moment and waiting for student loans to be rehabbed in Sept . And I have a few collections left
You're welcome,
If you really want or need another revolving account, Open Sky offers a secured Visa (17.69% APR) that doesn't require a credit check (HP). There is a yearly fee of $35 but you won't get an inquiry on your reports for opening it. Minimum deposit is $200 to open the card.
They report to all three CRA(s) and allow you to increase your initial line of credit by adding additional funds. I believe they do a SP for both the initial card and requested increases.