How long does Capital One take to unsecure a secured credit card?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Dw4250 wrote:
The secured card has done its job. Apply for a couple cards with different companies. Based on your scores, I would go for Barclays, Chase and maybe an AMEX. Once approved, close it out and get your deposit back.

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Dw I have to say, I really do not agree at all... Not sure what the OP's original deposit on the secured card was, however, at the typical deposit of $49-$300 that price tag just isn't worth losing a lasting positive tradeline on my CR and history or my AAoA. Everybody within this community knows just how important it is to our building a much thicker credit file and our continuing credit history to HAVE AS MANY POSITIVE TRADELINES AS POSSIBLE and with that said THE FEW MEASLY HUNDRED DOLLARS JUST ISN'T WORTH IT TO ME. Imo when you're sights are focused in that sort of direction it is nothing more than

A NICKEL HOLDING UP A DOLLAR.

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When you're paying a $29 AF and have nearly $3,000 holding up a secured line, If your scores are good enough for better cards...You are better off applying and closing this account.

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Nixon, I want to believe you but i'm not having trouble getting approved for Prime Cards with decent limits considering my only RECENT yr and a half rebuild on my credit. I would love to see real proof of what you're saying...

[Anonymous]

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@Anonymous wrote:
So would the correct thing to do in that situation be to close or keep the account?

Say it's only 7 months old?

Is there ever an optional time limit to close your 1st account?

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This is the exact direction I was going earlier... If your tradeline is somewhat aged I can't for any reason and wo any definitive proof withdrawl my statement. The percent of american made money that spends in this country which is saved in interest (DIFFERENCE BETWEEN PRIME AND SUB-PRIME) over the lifetime of a 3-5yr  car loan for example, just based on your HP scores IS NOT IN ANY WAY SHAPE OR FORM worth the loss of a positive tradeline. If the card is "sock drawered" your paing zero interest... Just the AF which still isn't worth the loss of the tradeline. Show me real validation proving otherwise and my mind could change.

[Anonymous]

For the whole time I've been here, I think I've only read 1 story about CapOne unsecuring a card so your chances are pretty slim to none of getting them to unsecure.

If I had $3000 stuck in a Capital One card, I'd close it....unless you're rich and can afford to have $3000 sitting around doing nuthin'

Of course, before you close you should leverage your scores now to get more cards.  And once you're done applying for those other cards, apply for CapOne unsecured, you'll probably get a decent limit card from them.  Then close your secured card unless you really don't need that $3,000 back.

[slicemans]

Is Cap1 secured card your only card?

[Anonymous]

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@Anonymous wrote:

For the whole time I've been here, I think I've only read 1 story about CapOne unsecuring a card so your chances are pretty slim to none of getting them to unsecure.

If I had $3000 stuck in a Capital One card, I'd close it....unless you're rich and can afford to have $3000 sitting around doing nuthin'

Of course, before you close you should leverage your scores now to get more cards.  And once you're done applying for those other cards, apply for CapOne unsecured, you'll probably get a decent limit card from them.  Then close your secured card unless you really don't need that $3,000 back.

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I think I'm going to try to get 2 more cards, then wait till at least before the next annual fee to cancel.  That is unless I need the 3k. 

[Anonymous]

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@slicemans wrote:

Is Cap1 secured card your only card?

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Yes, it's my only card.    I'll wait till have 2 other cards at least for a couple months before I close it.    Or maybe I'll get a couple other cards and see if I can get Capital One to lower the deposit to $1k and keep it open longer.  $3k is kind of a lot to keep on a secured card if I have other non secured cards. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

For the whole time I've been here, I think I've only read 1 story about CapOne unsecuring a card so your chances are pretty slim to none of getting them to unsecure.

If I had $3000 stuck in a Capital One card, I'd close it....unless you're rich and can afford to have $3000 sitting around doing nuthin'

Of course, before you close you should leverage your scores now to get more cards.  And once you're done applying for those other cards, apply for CapOne unsecured, you'll probably get a decent limit card from them.  Then close your secured card unless you really don't need that $3,000 back.

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I think I'm going to try to get 2 more cards, then wait till at least before the next annual fee to cancel.  That is unless I need the 3k. 

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You have $3,000 on the secured card? Like 3k of your own money... Because my fiance started out building her credit w a Cap1 secured w an initial $200 and after a few months they gave her a $750 CLI ON A SECURED CARD!!! Do you know how hard it is to get that type if CLI on a secured card?!?! It was in turn that very card which was the very reason she was able to get into high CL cards. $3,000 is a lot to put into any one secured card, however, if it's only a few hundred, then the impact of that positive tradeline on your credit file is worth more than that measly few hundred. Idc what anybody says. It's been proven to me time and time again.

[Anonymous]

That's nice.

[1GaDawg85]

Oh?

[Anonymous]

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@Anonymous wrote:
That's nice.

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Nixon I just realized you have only been a member since 9/27/14 and already have 5,746 POSTS!!! I been a member since 9/3/14 and only have 60... WOW MAN!!! THAT'S DEDICATION!!! I thought you had been here for years