Capital One Secured Graduation...Maybe?

Anonymous · ‎09-20-2018

Good Morning!

My 5th Capital One statement became available yesterday. With that statement came a $300 CLI. I call in expecting to hear than my Security Deposit is either in the mail or in process to returned. Not the case according to two reps I spoke with. Apparently, I was given a CLI, but my deposit will remain until further notice?? Normal?

What's also interesting to me is that about 2 months ago I hit the pre-qual site, and was confirmed for an unsecured QS1, No AF. I went ahead and took the offer without hesitation and was given a $300SL. The very next day I get an email telling me that my QS1 will essentially get an additional $200CL increase between Jan 6 and Feb 6 if I make 5 on-time payments.

It appears that I have a partially secured platinum card with a fully unsecured QS1 card. Has anyone experienced these behaviors from Capital One? I have always been under the impression that QS1 was given when you're off the training wheels not before or during. Any suggestions on next steps with this relationship...any PC in my near future?

As a side note, since I began my rebuild 6 months ago, my scores across-the-board are up over 100 points, and I've reduced my baddies from a whopping 16 down to 5. I've made all payments on all cards before the due date and my overall utilization has never been above 8%.

Thank you all in advance for any advice!

Anonymous · ‎09-20-2018

Congrats on your progress!

Not sure if I misread....but from what I think I got....You’ve opened 2 Cap1 cards within 5-6 months, one partially secured and one unsecured? I didn’t know this was possible.

If that’s the case, I would leave the partially secured open for 12 months and then combine with the QS1 (if that is allowed).

Anonymous · ‎09-21-2018

Thank you! Yes, ultimately I was thinking of combing as well. However, currently, given the partial secured status, the product is not eligible. I will wait it out and see what plays out with it the remainder of the year.

Thanks again for your insights.

Rf32222 · ‎10-24-2018

I started out with Platinum secured on credit steps 300 so after 5 statements got a 300 cli to 600.
After having this account for 9 months I got a notice on credit karma that approval odds are good for QS1 so I applied and was approved for 300. At 3 months I asked for cli and was given 100 to bring limit to 400 .
At 1 year I recieved my security deposit back on my Platinum card and 2 months after that Pc'd to QS with no annual fee.
I am going to try to combine the 2 after I get my next cli on QS1. I'm told it will go to 750 next month.

Remedios · ‎10-24-2018

@Anonymous wrote:
Good Morning!

My 5th Capital One statement became available yesterday. With that statement came a $300 CLI. I call in expecting to hear than my Security Deposit is either in the mail or in process to returned. Not the case according to two reps I spoke with. Apparently, I was given a CLI, but my deposit will remain until further notice?? Normal?

What's also interesting to me is that about 2 months ago I hit the pre-qual site, and was confirmed for an unsecured QS1, No AF. I went ahead and took the offer without hesitation and was given a $300SL. The very next day I get an email telling me that my QS1 will essentially get an additional $200CL increase between Jan 6 and Feb 6 if I make 5 on-time payments.

It appears that I have a partially secured platinum card with a fully unsecured QS1 card. Has anyone experienced these behaviors from Capital One? I have always been under the impression that QS1 was given when you're off the training wheels not before or during. Any suggestions on next steps with this relationship...any PC in my near future?

As a side note, since I began my rebuild 6 months ago, my scores across-the-board are up over 100 points, and I've reduced my baddies from a whopping 16 down to 5. I've made all payments on all cards before the due date and my overall utilization has never been above 8%.

Thank you all in advance for any advice!

Typically, Cap One unsecures after 11 statements (sometimes 12 if first statement was not full 30 days).

Anonymous · ‎12-19-2018

I got my Cap 1 platinum secured ($300 Desposit) back in April. 5 on time payments $300 cli. Fast forward to mid Novemeber was insta approved for Quick silver 1 ($39 fee) $300 cl, cli after 5 on time payments. So it is possible to get both within 6 months.