Cap1 Secured card question

[Anonymous]

I have a cap 1 secured card. The fifth statement cut earlier this month and I was wondering how common it is to see a CLI on the secured cards with them. I know it's possible, I just want to know if I'm wasting my time hoping for it. I only have 200 on that card so it would be nice to see an increase. Also does the amount of a balance on the card play into CLI? Thanks!

[Anonymous]

It is common for the Secured card to do a CLI under Credit Steps sometime between the 5th and 7th statement, yeah.  It could be another couple months before a CLI shows up but it is extremely common for Cap One to provide a $300 or so unsecured CLI so long as everything's been paid as agreed, etc.

I'd give it until May or June before I give up on it, because sometimes it doesn't show up until the 7th statement cuts.  It seems like most everyone gets slightly different terms if they're told about Credit Steps at all.

[itgirl74]

Mine happened after the 8th statement. I received no notice about it at all - I just logged on one day, and it was there.

[Anonymous]

I was wondering about that cause I talked to a lady on cap 1 chat and she said that secured cards weren't eligible then when I stated that I had heard of several people receiving CLI on their secured cards, she said that sometimes they are reviewed

[Anonymous]

I just received one for double my original limit. $600. 6th statement.

[tld1104]

I recv'd a 300 CLI after about 6 months or so...it just appeared.  

[Anonymous]

I received a CLI after the 5th statement.

By the way.. I see you have the mentality of "wasting your time".. even if you don't get a CLI at ALL.. you are still building your credit and establishing a credit history, and you will see your credit score climb.. only that is worth having the secured card.

Once your scores are fair, and your credit file looks OK, the secured card has served its purpose. You should then look into opening non-secured cards and then close the secured card.

[dobirdsmommy]

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@Anonymous wrote:

I received a CLI after the 5th statement.

By the way.. I see you have the mentality of "wasting your time".. even if you don't get a CLI at ALL.. you are still building your credit and establishing a credit history, and you will see your credit score climb.. only that is worth having the secured card.

Once your scores are fair, and your credit file looks OK, the secured card has served its purpose. You should then look into opening non-secured cards and then close the secured card.

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+1000000000

[Anonymous]

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@Anonymous wrote:

I received a CLI after the 5th statement.

By the way.. I see you have the mentality of "wasting your time".. even if you don't get a CLI at ALL.. you are still building your credit and establishing a credit history, and you will see your credit score climb.. only that is worth having the secured card.

Once your scores are fair, and your credit file looks OK, the secured card has served its purpose. You should then look into opening non-secured cards and then close the secured card.

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^^ This.

I will also add that Cap1 is quite funny with their secured CLIs. I got my secured card and never received a CLI unless I added it myself. My husband got the same card about 6-9 months later and received a $100 CLI about seven months or so in. 

As c_mms stated, it served its purpose well. It helped put me back on a much more PLEASANT path with my credit, and I've snagged several prime cards in the last 40 days with thanks to Capital One. I closed my secured account with its teeny $300 CL and look forward to moving onward and upward, especially with all of the help in this forum. Cheers!!

[Anonymous]

I'm not sure if I was clear in my original post. I said I was wondering if I was "wasting my time hoping for a CLI" I have never thought that this secured card has been a waste of time. This card helped me get an unsecured QS1 with Cap1. I know without it I wouldn't have received my second card. It has also helped me get other cards that I now have.
I was just curious how common it was to get an increase. Just wondering what others experience was with this card is all. It is my most current and oldest good card for my credit recovery, so I will be holding onto it for awhile whicheck is why I asked.
If it stays the original CL, so be it. I was only trying to get an idea of others experience with it.