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Capital One Graduation (again...I know...)

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Capital One Graduation (again...I know...)

This is more of a request of advice. A little background before hand... I opened a Secured Platinum with C1, 1K limit, along with another Secured from a local bank (Berkshire) about January/February 2018. I haven't heard back from the local bank yet on graduation, but I have heard stories of people on here either being automatically graduated, calling and getting graduated, or seeing no graduation at all, even after a call, and none of them seem to be at the same time. Personally, I haven't called yet. I have had some heavy use on the card as far as using it over my debit card, some months low, some months high, but I always paid 2-4x the minimum regardless, or paid it off outright. I received the automatic credit line increase at the 5 month mark as well. I paid it off a few months ago, and it has since been doormant. I'd say last activity on it was the payment in full in February. That was around the time C1 mailed me a pre approval on a QS with a 1K limit. Not a QS1, but the QS. For ha-ha's, I went on, punched in the info, and submitted it all the way. Offer approved, and card in hand a week later. I have been primarily putting everything through that card that I can for the rewards, and am almost to my credit line increase on that. I guess what I'd like to know is, does anyone have any idea if C1 would even graduate this card? Any knowledge on timeframes for their graduations? Since i just recently read that was a factor. Im ok with the minor hit I'll take if I have to just close it. I just dont want my 1K being held hostage any more. I can better invest that into something that'll benefit me better than a no frills CC, especially after getting the QS. Thank you in advance for any help, response, or even traffic if you were curious about this as well. 

4 REPLIES 4
Community Leader
Super Contributor

Re: Capital One Graduation (again...I know...)

I would close it because you already have the qs. The history will report for up to 10 years.







Message 2 of 5
Frequent Contributor

Re: Capital One Graduation (again...I know...)

I second the closing. It’s been reported for months that CO stopped graduations. Also you can no longer combine limits. 

Message 3 of 5
Community Leader
Mega Contributor

Re: Capital One Graduation (again...I know...)


@potoole48 wrote:

This is more of a request of advice. A little background before hand... I opened a Secured Platinum with C1, 1K limit, along with another Secured from a local bank (Berkshire) about January/February 2018. I haven't heard back from the local bank yet on graduation, but I have heard stories of people on here either being automatically graduated, calling and getting graduated, or seeing no graduation at all, even after a call, and none of them seem to be at the same time. Personally, I haven't called yet. I have had some heavy use on the card as far as using it over my debit card, some months low, some months high, but I always paid 2-4x the minimum regardless, or paid it off outright. I received the automatic credit line increase at the 5 month mark as well. I paid it off a few months ago, and it has since been doormant. I'd say last activity on it was the payment in full in February. That was around the time C1 mailed me a pre approval on a QS with a 1K limit. Not a QS1, but the QS. For ha-ha's, I went on, punched in the info, and submitted it all the way. Offer approved, and card in hand a week later. I have been primarily putting everything through that card that I can for the rewards, and am almost to my credit line increase on that. I guess what I'd like to know is, does anyone have any idea if C1 would even graduate this card? Any knowledge on timeframes for their graduations? Since i just recently read that was a factor. Im ok with the minor hit I'll take if I have to just close it. I just dont want my 1K being held hostage any more. I can better invest that into something that'll benefit me better than a no frills CC, especially after getting the QS. Thank you in advance for any help, response, or even traffic if you were curious about this as well. 


Hi and welcome to the forums 

 

There should be no "hit" for closing it unless it affects your utilization. Grab your money and put it to better use. 

 

 

Message 4 of 5
Established Contributor

Re: Capital One Graduation (again...I know...)

Capital One should start calling that card the "Never-Graduate Platinum" or write "WILL NEVER GRADUATE" across the top of it.

 

Granted, MyFICO and people in general who even know what secured-card graduation is are a small part of the market, but their reversal on graduation added a little dose of confusion to many plans. A secured card that can never graduate seems like a waste of a card slot (and I have two of them).




FICO 8 scores are deceptively high. My profile is young with a lot of new accounts and even more inquiries from spring and summer 2019. The Barclay AU card is not on TransUnion; and, Equifax has some old positive accounts from 2011 that are not on the other two. That is the reason for the variation in scores. No derogs. Over 5/24 until summer 2021.

Authorized user / Corporate

Closed but still on reports: ExxonMobil, $950, 10/08-02/11 (Equifax only) | Citi secured, $200, 045/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Unsecured personal loan from Coastal, $1,000, 05/19-08/19.

Goal cards: Ducks Unlimited, Chase Sapphire Reserve (or Preferred, haven't decided). Increased CLs across the board.
Long-term goal: Legitimate 770s on EX/EQ/TU, able to qualify for most normal credit products. Prime-rate mortgage.
Message 5 of 5
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