Capital One secured card conversion

[Anonymous]

My first cc was a Cap One secured card that has a tiny credit line. My credit is much better now - EQ 684, EX 657, Trans 640. So I emailed Cap One to ask about the possibility of converting it to an unsecured card and this is what I was told: "Capital One will periodically review accounts for graduation from secured to unsecured cards, but we cannot provide specifics on when these reviews will occur."

Well that was rather vague. Does anyone have experience with getting one converted? I've had the card since about early 2011 and my credit has been pretty good for at least 1-2 years now..

[CreditCuriosity]

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@Anonymous wrote:

My first cc was a Cap One secured card that has a tiny credit line. My credit is much better now - EQ 684, EX 657, Trans 640. So I emailed Cap One to ask about the possibility of converting it to an unsecured card and this is what I was told: "Capital One will periodically review accounts for graduation from secured to unsecured cards, but we cannot provide specifics on when these reviews will occur."

Well that was rather vague. Does anyone have experience with getting one converted? I've had the card since about early 2011 and my credit has been pretty good for at least 1-2 years now..

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It has never happened to my knowledge, but I saw another post simliiar to yours recently.. Maybe there policies have chnaged this year to unsecure secured cards..  Haven't seen any posts of it happening as of yet though

[coldnmn]

Honestly your chances are slim to none! It serves a purpose but eventually you will move on in your credit journey and close it. When you do close it it will ccontinue to be a positive TL for ten years.

[elim]

i researched this heavily recently and could not find any that unsecure.

if the card was transferred from HSBC/Household Bank/Orchard Bank then it is possible.

unsecured CLI's are granted on Cap1 secured cards from time to time.

if your profile can handle it now, close it before the AF hits again and enjoy your deposit

congrats on the scores

[Anonymous]

I wouldn't hold my breath about CapOne converting.

However, CapOne does seem to be more generous these days.  There was a slew of posts on unasked for CLI's on CapOne secured cards during Christmas.

There may be a light; or maybe they're just baiting us to keep the cards.

[taxi818]

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@Anonymous CreditCuriousity wrote:

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@Anonymous wrote:

My first cc was a Cap One secured card that has a tiny credit line. My credit is much better now - EQ 684, EX 657, Trans 640. So I emailed Cap One to ask about the possibility of converting it to an unsecured card and this is what I was told: "Capital One will periodically review accounts for graduation from secured to unsecured cards, but we cannot provide specifics on when these reviews will occur."

Well that was rather vague. Does anyone have experience with getting one converted? I've had the card since about early 2011 and my credit has been pretty good for at least 1-2 years now..

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It has never happened to my knowledge, but I saw another post simliiar to yours recently.. Maybe there policies have chnaged this year to unsecure secured cards..  Haven't seen any posts of it happening as of yet though

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That is not true. we found the only person in the cap one that had their secured converted.http://ficoforums.myfico.com/t5/Credit-Cards/Cap-1-secured-they-say-it-CAN-graduate/m-p/3705313/highlight/true#M1017235

[CreditCuriosity]

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@taxi818 wrote:

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@Anonymous CreditCuriousity wrote:

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@Anonymous wrote:

My first cc was a Cap One secured card that has a tiny credit line. My credit is much better now - EQ 684, EX 657, Trans 640. So I emailed Cap One to ask about the possibility of converting it to an unsecured card and this is what I was told: "Capital One will periodically review accounts for graduation from secured to unsecured cards, but we cannot provide specifics on when these reviews will occur."

Well that was rather vague. Does anyone have experience with getting one converted? I've had the card since about early 2011 and my credit has been pretty good for at least 1-2 years now..

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It has never happened to my knowledge, but I saw another post simliiar to yours recently.. Maybe there policies have chnaged this year to unsecure secured cards..  Haven't seen any posts of it happening as of yet though

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That is not true. we found the only person in the cap one that had their secured converted.

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Sorry if i misquoted... so it was converted?  Intersting..  I misread it, I guess

[taxi818]

You were not mis quoted. You were right. I thought I put a link. 1 lady who's son was converted a little over 10 years ago. He still has it. Not a single secured card converted since 😏

[Anonymous]

Well, I got my hopes up a little on that one. I was surprised when they responded with that message. Thanks for the help. I won't be holding my breath for it to unsecure lol.

[Anonymous]

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@Anonymous wrote:

Well, I got my hopes up a little on that one. I was surprised when they responded with that message. Thanks for the help. I won't be holding my breath for it to unsecure lol.

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I was combing through all these threads searching to see if they actually graduate there secured cards.  This is directly from capital one's website.

Increase your Capital One Secured Credit Card initial credit line

Your minimum security deposit gets you a $200 initial credit line. All deposits must be made before your account opens. Your account will open when your total deposits meet or exceed your required security deposit. You may deposit more than your required security deposit to raise your initial credit line, all the way up to your maximum approved credit line. You may also earn a credit line increase based on your payment history and creditworthiness.

It seems as though they do not graduate secured card but they peridoically raise you credit limit.  Makes no sense. I have a secured card with capital one and I clicked on the cli.  I will let you know the outcome.