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Congrats. That gives me hope that I can get mine unsecured. Its been 2 years since I opened mine and I am either ready to upgrade or move on.
I have never heard of someone getting upgrade who has had there card for a lot longer than one year. I have had mine since 2013 and am waiting to hear from the executive office right now. An issue for me might be that I have a high credit limit relative for the Secured Card so they may be more reluctant to graduate me and return my deposit.
But most important, congrats on finally getting to graduate and not having to cancel your card!
@Anonymous wrote:
Finally got the email that my Platinum MC has been upgraded to an unsecured Platinum! Have had the card since May 2013. Started with the $200 deposit and was auto cli to $750. Stopped using the card in May 2017 Since I was approved for the quicksilver in February of 2017. Kept bothering customer service about graduating or possibly closing the account and I guess they listened!
Now going to try and get a cli and combine with my quicksilver. There is hope to become unsecured!
That's great. I guess i need to hop on chat tonite and give it a whirl. Got mine in April 2013. CL of $300 with initial deposit of $49 + added $100 before they ended the option of adding to it.
I don't mean to duplicate another thread, but CapitalOne just rejected my graudation/upgrade request to executive office again and I close my secured account with them. I suspect that having a large deposit with them is a significant factor and actually hurts your chance of being graduated to unsecured. I hope others have better luck such as the OP.
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.
@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.
I can tell you what I have decided to do with mine; however, you do what you think is best.
Since it is not costing me any money I have decided to keep mine. I just let it sit and put a small purchase on it every month or so.
I have a couple cards that are around the same age as my Cap1 secured but they are not major bankcards; therefore, I feel the need to keep it.
@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.
It depends how much you value your deposit. If you don't mind not having that money or any interest on it, keep it open. If you need that money back or want to start receiving the interest and having it work for you, close it. It is very rare for these "older" secured cards from CapitalOne to graduate. I just gave up after years of frustrating but that's me.
@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 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...