Capital One Secured Card and I'm on my way...

[tinuviel]

Congratulations! That's a really good deal for a secured card. Take good care of it, and watch your credit history blossom. Best wishes to you!

[Eddie24CO]

I just got approved for the CAP ONE SECURED as well with a $49.00 deposit, but i don't know how much of a limit they are giving me yet, $200 i'd assume.

Anyhoo.. I had a previous charge off with them in 2008 for $2,400.00 that I settled at the end of 2009, and I still CURRENTLY have a charge off that i have been paying on the for the past year, and the balance just dropped to $800.00 so i am almost done, 3 more months at max and that is paid.

I am really surprised that capital one allowed me to open a secured card, especially with a $49.00 deposit.

What is the AF on this card?

[Wolf3]

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@Eddie24CO wrote:

I just got approved for the CAP ONE SECURED as well with a $49.00 deposit, but i don't know how much of a limit they are giving me yet, $200 i'd assume.

Anyhoo.. I had a previous charge off with them in 2008 for $2,400.00 that I settled at the end of 2009, and I still CURRENTLY have a charge off that i have been paying on the for the past year, and the balance just dropped to $800.00 so i am almost done, 3 more months at max and that is paid.

I am really surprised that capital one allowed me to open a secured card, especially with a $49.00 deposit.

What is the AF on this card?

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Purchase APR Transfer Info Annual Fee Minimum Security Deposit Credit Line

22.9% variable APR

22.9% variable APR; No Transfer Fee

$29

$49, $99 or $200 refundable deposit based on your credit

$200–$3,000. Minimum security deposit gets you a $200 line. Deposit more to increase your line.

[LS2982]

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@Eddie24CO wrote:

I just got approved for the CAP ONE SECURED as well with a $49.00 deposit, but i don't know how much of a limit they are giving me yet, $200 i'd assume.

Anyhoo.. I had a previous charge off with them in 2008 for $2,400.00 that I settled at the end of 2009, and I still CURRENTLY have a charge off that i have been paying on the for the past year, and the balance just dropped to $800.00 so i am almost done, 3 more months at max and that is paid.

I am really surprised that capital one allowed me to open a secured card, especially with a $49.00 deposit.

What is the AF on this card?

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I have their secured card and deposited $600 so far to get a $700 CL. Im gonna give them 100 here and there to get it up to 1K.

[Anonymous]

HI everyone I just got approved for the card as well with a 49.99 deposit and 200 CL, and I noticed someone else asked the question, does that mean that my total credit limit will be 200??? As soon as I get the card I am going to add more funds to the account, so I can have an higher CL.

[LS2982]

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@Anonymous wrote:

HI everyone I just got approved for the card as well with a 49.99 deposit and 200 CL, and I noticed someone else asked the question, does that mean that my total credit limit will be 200??? As soon as I get the card I am going to add more funds to the account, so I can have an higher CL.

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I put 99 down for a 200 CL. I believe 200 is the starting point on their secured card, just make frequent CLI deposits and youll be golden with them

[cgreer72]

I applied for a CapitalOne SCC last month, and received the same offer.....$49 deposit with $200 CL. Credit score was 605.

[Eddie24CO]

Does this Capital One Secured Card give you automatic CLI's without an additional deposit if you have good behavior and PIF each month, or do you have to increase it on your own?

[cgreer72]

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@Eddie24CO wrote:

Does this Capital One Secured Card give you automatic CLI's without an additional deposit if you have good behavior and PIF each month, or do you have to increase it on your own?

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Good question!

[Wolf3]

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@Eddie24CO wrote:

Does this Capital One Secured Card give you automatic CLI's without an additional deposit if you have good behavior and PIF each month, or do you have to increase it on your own?

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Increasing your deposit increases your CL.   It is easy to do on the website whenever you want.

They review your account every 6 months and may give unsecured CL based on your behavour and credit score.