Capital One Secured Deposit Refund - Now Unsecured!

[Anonymous]

 Hi!  I started a credit rebuild after a large income reduction.  I applied for a Capital One Secured Card and was approved.  I also paid $849 as a deposit to increase my credit limit.  I got the card June 2019.  A year later, I was pre-approved for a quicksilver from Capital One and a card from AMEX.  

Today I noticed on my original Capital One card that my deposit was refunded. Does that mean that the card is now unsecured?

Any advice would be greatly appreciated!

[Anonymous]

@Anonymous IIRC Capital One stopped graduating secured cards in the middle of 2018, but they have toggled back and forth before.

Is the card still showing as open? If so, you might have indeed graduated. You will know for sure if you apply for a cli (secured accounts can't be approved for one).

Congrats on your rebuild!

[Anonymous]

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@Anonymous wrote:

 Hi!  I started a credit rebuild after a large income reduction.  I applied for a Capital One Secured Card and was approved.  I also paid $849 as a deposit to increase my credit limit.  I got the card June 2019.  A year later, I was pre-approved for a quicksilver from Capital One and a card from AMEX.  

Today I noticed on my original Capital One card that my deposit was refunded. Does that mean that the card is now unsecured?

Any advice would be greatly appreciated!

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Fingers are all crossed for you that your card did in fact graduate!

Please, please, please keep us posted! The last time they were graduating cards was a couple years ago and mamy of of us have held onto hope they would start again one day!

SO has a secured Cap One and it would be great if indeed there was hope of it graduating someday!

Congrats again if you do get your deposit back and let us know if you do or if you get a letter/email or perhaps something on your statement (they sneakily gave an update of changing statement close dates, but not via email, mail, or notification, and it was tucked away on the last page of the monthly statement).

Good luck!

[Irv02]

I hope you did graduate.  I been holding on to my secured card because it is one of my oldest cards.  Please keep us updated.  Congrats!

[Anonymous]

I just checked my account thru the app. The security deposit was refunded and my account is still open.  Capital One also gave me a credit increase on my secured card back in January. It was only $300.00 so not a lot.  

If I receive any correspondence letting me know that my card has graduated, I will let you know. 

[JeffMO]

Yes please keep us updated, I've been waiting for almost 3 years, man it would be so great!

[Anonymous]

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@Anonymous wrote:

I just checked my account thru the app. The security deposit was refunded and my account is still open.  Capital One also gave me a credit increase on my secured card back in January. It was only $300.00 so not a lot.  

If I receive any correspondence letting me know that my card has graduated, I will let you know. 

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The Credit Steps increase of $300 is standard after 6 months for all secured cards, so getting one in January seems to line up with that. 

I am so happy to hear you in fact did get your deposit returned, congrats!

[Anonymous]

Congratulations!!!!!!!!!!!!! it sounds very good news. i hope they do that for everyone and for me also.

[Anonymous]

Great news!  I just called Capital One. The rep told me that my card is now unsecured. He said it happened for a number of people over the past couple of days.  I was his second call today with the same question. Hopefully all of you will also become unsecured soon! 

wishing everyone the best of luck!

[JeffMO]

Yayyy, keeping fingers crossed!