Should I ask for CLI or Graduation?

[devineer1]

Hi all....

I have had my Cap One Secured card for about 4 mos now and have maintained a good payment history along with my utilization. I want to ask to be graduated, I am just curious should I try or wait OR should I ask what are the odds. Having said all that, my scores are still low, but on the mend and rising if that makes sense. There is also just putting more money on that card myself just to give me more cushion.. What are your thoughts!?

[AeroKrix]

IME, it's really hard to get a substantial CLI on a CapOne Secured card. If you do get one, expect no more than $200. Also, CapOne secured NEVER graduates. It's bummer, I also have one. If you need the increase, you're only option is to add more funds

[Anonymous]

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@devineer1 wrote:

Hi all....

I have had my Cap One Secured card for about 4 mos now and have maintained a good payment history along with my utilization. I want to ask to be graduated, I am just curious should I try or wait OR should I ask what are the odds. Having said all that, my scores are still low, but on the mend and rising if that makes sense. There is also just putting more money on that card myself just to give me more cushion.. What are your thoughts!?

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First off, 4 months is not long enough to request graduation even if the company does graduate cards.

Secondly, Cap One offers unsecured credit line increases on their secured product starting after the 6th statement, so if you keep good payment history you could be looking at a couple hundred dollars in unsecured CLI.  Capital One does not graduate their secured cards.

You can always check prequalifications at Cap One and elsewhere to see if you qualify for unsecured products. 

[Anonymous]

It's too soon to ask.  But they will graduate you when they feel like it. 

[pipeguy]

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@Anonymous wrote:

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@devineer1 wrote:

Hi all....

I have had my Cap One Secured card for about 4 mos now and have maintained a good payment history along with my utilization. I want to ask to be graduated, I am just curious should I try or wait OR should I ask what are the odds. Having said all that, my scores are still low, but on the mend and rising if that makes sense. There is also just putting more money on that card myself just to give me more cushion.. What are your thoughts!?

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First off, 4 months is not long enough to request graduation even if the company does graduate cards.

Secondly, Cap One offers unsecured credit line increases on their secured product starting after the 6th statement, so if you keep good payment history you could be looking at a couple hundred dollars in unsecured CLI.  Capital One does not graduate their secured cards.

You can always check prequalifications at Cap One and elsewhere to see if you qualify for unsecured products. 

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+10 - exactly right!