I'm trying to find out who has has a Cap1 secured card go unsecured? And how long did it take?
I've had mine for 5 months excellent payment history always PIF not 1 dime paid in interest. I deposited 1,100 to make a 1200 CL.
I've been approved for other cards in the past few weeks and I feel like I'm above the "secured" part of my CC experience.
@Wolf3 wrote:
@LS2982 wrote:I'm trying to find out who has has a Cap1 secured card go unsecured? And how long did it take?
I've had mine for 5 months excellent payment history always PIF not 1 dime paid in interest. I deposited 1,100 to make a 1200 CL.
I've been approved for other cards in the past few weeks and I feel like I'm above the "secured" part of my CC experience.
They do not unsecure the card. You need to apply for an unsecured card from Capital One. So how long you wait depends on how your credit has approved.
I got mine in June 2010. I increased the deposit each month to 2200 and at 6 months, they added $300 unsecured. I just applied last month for the cash back rewards card and they approved with $3000 CL and $39AF. I was pleased with that.
I called a few days ago to close it, They applied my deposit to the balance, so I have a negative balance now. They wait for 2 closing cyles to make sure everything is cleared and then they return the balance of my deposit. They mentioned that they were impressed with the size of the deposit, apparently big deposits are rare in secured cards.
For those interested, I generally used 80 to 95% of the Limit each month, I let it report, and PIF by the due date. And last month, l got my utilizaton low (nothing over 30%) to juice my score for this app.
I have 2nd Cap1 unsecured card (No Hassle Cash) 500 CL. I'm OK with waiting a year then going back to the bargaining table. All I want is a timeframe. I really dont want to close this acct as ive made it my larger bills CC and PIF every month.