I talked to Capital One today about their data breach and towards the end of the conversation, I asked if Secured cards were eligible to be product changed to Unsecured cards and the representative said yes, it is possible.
If you filed bankruptcy Citi will not give you a secured card until 2 years after discharge date regardless of wether or not you burned them. BofA also has a long waiting period for BK filers for a secured card. Those banks view their secured cards as options for people new to credit. They are not interested in rebuilders.
Just thought I’d share my experience.
In February 2019, I app’d for the Cap1 secured card and was approved for a $200 CL with a $99 deposit. I’m sure you guys know this, but the account never reported as “Secured” on any of my credit reports.
I pretty much never used the card and when I did it was small charges and I always paid in full before statement cut. I literally made 3 purchases TOTAL, with the largest being $20.29.
I had read all the YMMV stuff on here about graduating and not graduating, so I just kept my fingers crossed. On August 1st 2019, I attempted a CLI via my mobile app. It was of course denied, because secured cards are not eligible. However...
My (6th) statement cut on August 13th and when I checked my app today, I found a new CL of $500, an increase of $300. I’m not sure if Cap1 will be sending my $99 deposit back or if it will be a statement credit. Hell, they might just keep it, I have no idea.
My score was around 600 plus or minus when I app’d and it was in the low 700’s when my 6th statement cut.
Blessings to y’all
That's normal, and the only increase you'll ever receive on that card. You won't get your deposit back unless it unsecures or you close the card.