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Capital One Did A Good Thing

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Iusedtolurk
Established Contributor

Capital One Did A Good Thing

After 1yr and 6 months Capital 1 went from Secured to Unsecured!! Alrighty Now!!

 

Too bad it wasn't my card though.  I have been helping my cousin and overseeing his accounts after he saw how I was really increasing my credit scores. Started with getting him a Cap1 secured card and then 5 other accounts and a SSL.

 

After a year and a half increased his Ficos from high 400s to 650s. Mines hover around the mid 750s now after starting with an average 500s.

 

Cap1secured was my first card exactly 4 yrs 1 month ago. Still SECURED at 701 cl (started with 401 deposit and had a 300 dollar increase after 6 months). I have used this card in every which way but loose, called numerous times about it being unsecured but still over 4 years later it still sits there stagnant.

 

I have accepted the fact it's in some Twi-light zone of being Secured. I no longer wait for the email that says, "Congrats your card has Unsecured".

 

But once again Congrats to my cousin going from Secured to Unsecured in a year and a half.

 

I am also helping my young daughter and nephew better their credit and they have Cap1 Secured cards also.

 

I guess I'll be probably posting about how their cards went Unsecured at some future date while mines still sits there stagnant.

 

Such is life Smiley Happy

 

Message 1 of 8
7 REPLIES 7
Horseshoez
Senior Contributor

Re: Capital One Did A Good Thing

@Iusedtolurk, reading stories like yours is what caused me to close my CapOne secured credit after less than 7-weeks.  Assuming you have other cards now, close that turkey and don't look back.  

Chapter 13:

  • Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank (now Bank of Southern California)
  • Filed: 26-Feb-2015
  • MoC: 01-Mar-2015
  • 1st Payment (posted): 23-Mar-2015
  • Last Payment (posted): 07-Feb-2020
  • Discharged: 04-Mar-2020
  • Closed: 23-Jun-2020

 

I categorically refuse to do AZEO!

In the proverbial sock drawer:
Message 2 of 8
MartyWrite75
Valued Contributor

Re: Capital One Did A Good Thing

Congratulations!

February 2025: Experian 779; Equifax 781; Transunion 781


Cards I Have:
Cap One QS: $600 (Sock drawer) || Cap One QS (#2): $6,800 (Sock drawer) || Discover It: $15,400 || Cap One Savor One: $600 (Sock drawer) || AMEX BCP: $8,900 || Amazon Prime Store Card: $10,000 || FNBO Rewards Visa: $2,600 || Discover Cash Back: $7,500 || Citi Custom Cash: $15,500 || Verizon VS Visa: $18,000 || Amex Hilton Honors: $12,000 || Amazon (Chase) Prime Rewards (VS): $9,500

Wishlist Cards:
Paypal Mastercard || Bread Mastercard

Gardening to 5/2025(ideally)
Total Utilization: 11%
Inquiries: Exp: (1) Trans: (0) Equif: (0)

Message 3 of 8
Brian_Earl_Spilner
Credit Mentor

Re: Capital One Did A Good Thing

You need to read your card agreement. Cap1 flipflops on whether the card will unsecure. If you got yours during a time it wasn't offered, it will never unsecure. Doesn't matter if they're unsecuring cards now, you're bound to whatever terms you agreed to. They will not sway. 

    
Message 4 of 8
CreditAggie
Community Leader
Super Contributor

Re: Capital One Did A Good Thing

Congratulations on your cousin's Capital One secured card graduation! Did he also receive a CLI when the card unsecured?

Current Cards (in order of approval):

         
Current FICO 8 | 9 (January 2025):  
Credit Age:  
Inquiries (6/12/24):  
Banks & CUs:

Message 5 of 8
cashorcharge
Community Leader
Super Contributor

Re: Capital One Did A Good Thing

That's terrific!!  Congratulations on your Cap1 Approval!! 🎉🥂👏

Message 6 of 8
Iusedtolurk
Established Contributor

Re: Capital One Did A Good Thing


@CreditAggie wrote:

Congratulations on your cousin's Capital One secured card graduation! Did he also receive a CLI when the card unsecured?


@CreditAggie  He actually did not. Same CL as his deposit was. (400 dollars)

 

I got him a secured Disco (200 dollars) and after 8 months he recieved  his deposit back and a 1200 dollar increase.

Message 7 of 8
CreditAggie
Community Leader
Super Contributor

Re: Capital One Did A Good Thing


@Iusedtolurk wrote:

@CreditAggie wrote:

Congratulations on your cousin's Capital One secured card graduation! Did he also receive a CLI when the card unsecured?


@CreditAggie  He actually did not. Same CL as his deposit was. (400 dollars)

 

I got him a secured Disco (200 dollars) and after 8 months he recieved  his deposit back and a 1200 dollar increase.


Thank you for the data point! I have requested a mod move this to the Credit Cards board since no new credit was approved in this instance.

Current Cards (in order of approval):

         
Current FICO 8 | 9 (January 2025):  
Credit Age:  
Inquiries (6/12/24):  
Banks & CUs:

Message 8 of 8
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