@savings4tomorrow wrote:I have learned a wwatch of info here in the last couple of days. Right now I only have a Capone secured credit card that I have had for 2.5 years. Have never paid late. Up until recently, I carried a pretty high uti. I was just approved for VS card on Friday using the shopping cart trick. I'd like to open a few more since hardly have any open acct, and I would like to open them all around the same time so they don't do too much damage on my aaoa. I am going to try one or two more using the same trick. But I was wondering about Capone and why I have never received a cli. I know that with SCC it's a little harder, but I see people get them. Maybe cause of the high uli? Anyone know if I call them, maybe they can do a sp to see if there is anything unsecured that I may qualify for? Oh, and I also just took out a secured consumer loan, 6 months term, from my credit union which I am hoping will pump me up in score when paid off. Thanks in advance for any input.
I would contact the Cap-1 EO and see what they can do for you on that secured card, some say it cant be converted to unsecured others have said that they have done it. As far as the secured instalment loan that is going to help you with the mix of credit part but its not going to give you much of a boost in FICO only revolvers do that as it is keyed to them.
@savings4tomorrow wrote:I have learned a wwatch of info here in the last couple of days. Right now I only have a Capone secured credit card that I have had for 2.5 years. Have never paid late. Up until recently, I carried a pretty high uti. I was just approved for VS card on Friday using the shopping cart trick. I'd like to open a few more since hardly have any open acct, and I would like to open them all around the same time so they don't do too much damage on my aaoa. I am going to try one or two more using the same trick. But I was wondering about Capone and why I have never received a cli. I know that with SCC it's a little harder, but I see people get them. Maybe cause of the high uli? Anyone know if I call them, maybe they can do a sp to see if there is anything unsecured that I may qualify for? Oh, and I also just took out a secured consumer loan, 6 months term, from my credit union which I am hoping will pump me up in score when paid off. Thanks in advance for any input.
Just yesterday I talked with Cap1 about my secured card that I had with them for 2 years. I actually talked to 4 different people in 4 different departments. Each one of them told me the same thing.
1. That their secured cards would never graduate or unsecure. That once a product was secured it would always be secured.
2. The only way to receive an increase on a secured product was to add additional funds yourself by depositing more on the card. Although some as well as myself have received a small $100 increase at like the 3 or 6 month mark, can't remember which. But that's all the movement I ever noticed.
I didn't speak with the executive office about this, but that would be the only way you might have any luck. But YMMV on this, to the best of my knowledge there is nothing you can do except apply for a different card with them if you want a unsecured Cap1 card.
Seeing how you've had that one for 2.5 years, I would suggest applying for an unsecured card with someone else, possibly Discover It. As long as you don't have any baddies on your reports and your scores are decent I think you would get approved with the history you have with the Cap1 card.
BTW, I finally decided to close out the Cap1 secured card. It had served it's purpose and I really didn't need it anymore.
Hope this helps.
I'll chive in here as well, I talked to Cap1 EO a few weeks ago and they too said they will not raise the limits on a Secured card. I've had the card for 3 years and got a $100 or so raise when I was about a year in. I cant wait to close it here soon. 
