Showing results for 
Search instead for 
Did you mean: 

Capitol One Secured Card Graduated

Not applicable

Re: Capitol One Secured Card Graduated

I have always 

@Anonymous wrote:

@Anonymous wrote:

I opened my secured cc with them in december 2014, its been 2 years 8 months now. My original cl was $200 with $49 depodit, I then made an additional deposit of $600 to make $800 cl. after a few months they automatically incresed it to $1100. I just called in and requested for graduation on my secured cc and CSR said they cant do that on my acct. She suggested me applying for an unsecured one then cancled this. This is exactly what I dont wanna do cuz I dont wanna lose my credit history with this card. i also opened another secured cc with USbank a month before i opened my capone and USbank just unsecured mine. what should I do now? Should I just close this acct and get my deposit back or just keep calling them everyday until they unsecure mine? Help please. Thank you.

Hello everyone,


Let me be perfectly clear when I say this, I am in no way a Legal/Certified Financial Advisor. So my imput is just merely my own personal opinion and should not be taken as a legal or financial advise, so with that beind said...


@I do agree with @Anonymous and @Anonymous on a couple of things. I cant tell you what to do with your account/card because I am not a legal/certified financial advisor and whatever action(s) you may take, can easily make your CF improve, remain same, or worsen. So you should do what you think/consider whats best/beneficial to you. Also agree that since is not costing you any money to keep it open (other than having your SD held hostage Smiley Wink as a ramson [just a small joke]), you should either put simple small purchases (such as brunch, or even a montly subscriptioin) on the card every month and always watch your utilization/spending and make your payments on time (I prefer to always PIF, but thats just me). 


It also depends on how much you do value your deposit. If you dont mind having that money laying around without gaining anything from it, then keep it open, on the other hand, well is very simple. 


So based on your message, its been almost 3 years and you still havent graduated yet. Have you taken a look at your CRs? How is your utilization on this card (or any other cards), anything bad (derogatory) on your reports? There is much to look on ones report that you may be surprised. Remember that all CRs take into consideration multiple factors. 


Back then when I started with CapOne, I was a secured customer. I applied for a card and was denied. About 1.5-2 months later got a letter from them asking me that I was approved for a SC with an initial deposit of $49 and an SCL of $200. I decided to go for it and did. Went through the process and got a CLI for $300 after 3 months. After 6 months I started considering to close the account because I had not yet graduated. I called and spoke with a representative there and she said that was not possible at the time, so I told her I would be calling in later on to cancel it then. I did forgot to call later. Almost a month later, when I had some extra money to added it to the SD I called custserv and was told that I was not able to add money because my card was just graduated the night before. I was glad though. I try to push it forward to get a CLI but was denied as I had to wait for my next statement cut to apply for one. For the mean time I left it there. 


A few months later I decided to consolidate my cards and only keep the ones with good CL, benefits and perks and close the ones that were not good for me at all. I called in CapOne again and while I was talking to a rep there she mentioned that I should apply for another card and I went for it. I applied and got approved for a 2nd. After that new card got to the 6 months mark, I transfered my balance to the initial card and kept the account as it was. Sure the new one was closed but I felt good about it. Later on I applied for another card and also got approved. 


As of now, my history with them is all good and I do get prequalifies often.


Closing, I am not saying you should go ahead and do the same. As we all know, YMMV. So it really depends on you and your CRs. CapOne is not the best bank around but they are a good bank if you are good with them (keeping your accounts in good standing, etc.)


Best of luck! Let us know how it goes...

I have always checked my CRs before every single time I called them and asked to unsecure my cards. The CSR also agreed with me that I have treated my account perfectly since I opened. I had only 1 inquiry, 0-2% balance, perfect payment history, 2years9month of average age, nothing negative on my report, my score were in the mid 700 range. I just decided to close it 2 days ago after the n(th) call with them. I have been very patient with them for a while and they still dont see any offer yet. So I decided to close it and get my $650 back. Plus, my oldest one is not this one, and I have also been approved for 3 others: discover, chse FU, citi DC recently. This is my incentive to let go of it and get my deposit back.

Message 11 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.