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Capital One Secured card

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mizzcharles
Valued Member

Re: Capital One Secured card

Not sure about the CAP-platinum card. There are threads about it tho. I for one haven't gotten to the step of thinking about applying for a platimum card as yet. Sorry.

*Wishing to be debt free*


Starting Score: EX: 513, TU 495
Current Score: EX: ???, TU 520
Goal Score: EX: 650, TU: 650


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Message 31 of 56
tobey
Contributor

Re: Capital One Secured card

I've only had this card for 3 weeks and it just reported to Experian today. Guess I'm one of the lucky ones...


Starting Score: 737
Current Score: 777
Goal Score: 850


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Message 32 of 56
Anonymous
Not applicable

Re: Capital One Secured card

I applied for cap one sec card and was approved on 10/19. Called and did an ACH deposit for $200 10/25.  Will keep everyone up to date. Did a hard pull on all 3 bureaus but did not drop my EQ score. 

 

Current EQ score 472. Goal is 600 by April 2011.  

 

Score is so low because of a few collections, medical bills, but mostly high credit-usage balance. 

 

Keep you all posted. 

Message 33 of 56
Anonymous
Not applicable

Re: Capital One Secured card

Got an approval letter in the mail reminding about the deposit. 10/25. Deposit has not been withdrawn from my account as of yet. 

Message 34 of 56
Wolf3
Senior Contributor

Re: Capital One Secured card

For me, It comes out on the 2nd day.   I increase my deposit every month.

Message 35 of 56
gymbo731
Regular Contributor

Re: Capital One Secured card

Iv'e had a secured card now for 4 statements and it has not graduated, or they haven't given me any increases in my limit. What is the normal timeframe?


Starting Score: 640
Current Score: 744
Goal Score: 800


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Message 36 of 56
Wolf3
Senior Contributor

Re: Capital One Secured card

I was told 6 months is the first review,  

Message 37 of 56
MidnightOwl
Regular Contributor

Re: Capital One Secured card

If you only had your card for 4 or 5 months it's not going to graduate yet. It can be anywhere from 1-3 years before that happens according to the CSR I spoke to. Also, your already looking for a unsecure increase & that's not a guarantee either, especially since you've only had your card as long as I had mine. Be patient, it'll happen in time but, right now, you haven't had the card long enough at this time.

Message 38 of 56
Pushto700
Frequent Contributor

Re: Capital One Secured card


@MidnightOwl wrote:

If you only had your card for 4 or 5 months it's not going to graduate yet. It can be anywhere from 1-3 years before that happens according to the CSR I spoke to. Also, your already looking for a unsecure increase & that's not a guarantee either, especially since you've only had your card as long as I had mine. Be patient, it'll happen in time but, right now, you haven't had the card long enough at this time.


+1, I say as well yu should look to continue rebuilding. If you use it, keep the util at 9% and under. I would give 6mos to 1 year of consistent history in which you reflect low and balanced history across the board (other accounts as well). Use it to rebuild and look to keep those balances low and graduate to other cards and not await the secured increase because ther eis never a guarantee if it will come. These companies switch all the time and it has only to do with what their bottom line is. Many, many creditors out there....shape up your overall pitcure (including this secured card) and you will get even better cards in the not so distant future (instead of waitkng 1-3 years only for a secured increase).


Starting Score: TU: ?-- EQ: ?--EX 560 (8-08)
Current Score: TU: 671 (3-10) 625 (4-10/Rebucketed)--EQ: 674 (3-10)--EX 630 (Lender 11-09)
Goal Score: TU: 750--EQ: 760


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Message 39 of 56
Anonymous
Not applicable

Re: Capital One Secured card

Update:

 

So I after my deposit wasnit taking out of my checking account, I called Friday and I was told that they had the wrong banking number on file. So, I had to give the lady the right account number. 

 

So, that is one week that is gone and I still have to wait two more weeks. that is if the money is taken out right away. I hate anticipation. 

Message 40 of 56
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