CapOne Secured

[LS2982]

When I had them I never recieved an auto, had to deposit money.

[Anonymous]

I believe it depends when you signed up. And it does not appear the older accounts were "grandfathered" into the new structure. The website today if you go to apply is a totally different product than existed 2 and 3 years ago. My card (2008) you HAVE to deposit additional money to get a CLI. However I don't know when they switched but what they now offer is some sort of a hybrid program where you have a $49-200 minimum refundable deposit and they determine your credit limit. And then you qualify for increases.

This prevents people from opening an account with a $5000 limit and having a 700 fico score 6 months later after bankruptcy.  The old card allowed some people (very few) to manipulate the FICO scoring system. I don't think you can do it any longer with this card at least. With that said I am a little bitter I've had this thing since 2008 and not gotten one CLI and some of you newbies are getting it at 6 months

[jsucool76]

I think now (judging by the fact that they all happen after 6 months) that they've implemented credit steps into the secured card. All I know is I got denied for the cap1 secured when I applied almost a year ago, lol. 

[svtthis]

i applied for my secured card in jan of 2012 with out my BK even being discharged or even have the 341 meeting done. My BK discharged on march 2012 and I included three Cap 1 accounts in BK two being recent (within a year old)

[Anonymous]

I have had the cap1 secured card for 11 months and haven't had a cli. I have increased it with cash deposits and I am at a $450 limit on a 49/200, so I have added $250 of my own cash. They do pull my credit twice a month for who knows what reason. Also, I have only paid a total of $1.38 in interest over the past 11 months. I'm in the middle of buying a house so I only let $10 or less report each month and make 3 or 4 payments a month.

Really though, I can't bag on cap1. If it wasn't for my secured card, I would still be sitting at a low 600 and living in an apartment for who knows how long. The card is my only cc and I can't wait to opt in after I close on my house and see what I can get my hands on.

[Anonymous]

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@Anonymous wrote:

Has anyone every earned an automatic CLI on their secured CapOne card that didn't require an additional deposit?

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I have the secured Capital One Mastercard that has a $29 AF, and the ONLY CLI that card ever received came straight from me when I deposited the maximum amount of $3,000 on it.