what am I doing wrong?

[jason0618]

How is it that you guys get CLI's?  I've got my capital one secured card, started out with the low $200 limit, and have added deposits to it, so it's now at a $600 limit.  Still very low, but it is what it is.  I'vehad the account for 15 months, and they haven't increased the credit, they haven't graduated it to unsecured, (which it seems like they never will, based on what I've read here) and there have been basically no positives.

I did have a late pay about 6 months ago, but it was a couple of days,  not over 30 days.  I use the card for a lot of things like recurring bills, ie, electric, cable, cell phone, typically maxing it out and paying it off about twice a month, but usually try to make sure it's paid off by statement closing date, so it reports with a $0 balance.  

What am I doing wrong?

I also have a Navy Federal secured card, $1000 limit, $0 balance, and also paid off, although it's a new account.  

[webhopper]

What is the average age of your accounts? Have you had credit for a long time? 

Have you tried applying for an unsecured card with Navy Federal?  Navy Federal seems to be generous, so I would treat your NFCU account very well, and hopefully they will reward you in the future.

[Anonymous]

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@jason0618 wrote:

How is it that you guys get CLI's?  I've got my capital one secured card, started out with the low $200 limit, and have added deposits to it, so it's now at a $600 limit.  Still very low, but it is what it is.  I'vehad the account for 15 months, and they haven't increased the credit, they haven't graduated it to unsecured, (which it seems like they never will, based on what I've read here) and there have been basically no positives.

I did have a late pay about 6 months ago, but it was a couple of days,  not over 30 days.  I use the card for a lot of things like recurring bills, ie, electric, cable, cell phone, typically maxing it out and paying it off about twice a month, but usually try to make sure it's paid off by statement closing date, so it reports with a $0 balance.  

What am I doing wrong?

I also have a Navy Federal secured card, $1000 limit, $0 balance, and also paid off, although it's a new account.  

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My No. 1 rule of rebuilding is "NEVER BE LATE".   Who was it to?   Did it get on your report? 

Capital One expects you to apply for an unsecured credit card with them if you want.   They never graduate the unsecured.

[clocktick]

The only thing I see you doing wrong is expecting a CLI from Cap One.  Do you know your FICO scores?  With Navy, I would call them and see if they can do anything.  At some point you may be able to get an unsecured card from Cap One (or others).  I'm also wondering if the late went on your CRs at all?  Probably not if it was only a couple days but you never know.

[bichonmom]

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@jason0618 wrote:

How is it that you guys get CLI's?  I've got my capital one secured card, started out with the low $200 limit, and have added deposits to it, so it's now at a $600 limit.  Still very low, but it is what it is.  I'vehad the account for 15 months, and they haven't increased the credit, they haven't graduated it to unsecured, (which it seems like they never will, based on what I've read here) and there have been basically no positives.

I did have a late pay about 6 months ago, but it was a couple of days,  not over 30 days.  I use the card for a lot of things like recurring bills, ie, electric, cable, cell phone, typically maxing it out and paying it off about twice a month, but usually try to make sure it's paid off by statement closing date, so it reports with a $0 balance.  

What am I doing wrong?

I also have a Navy Federal secured card, $1000 limit, $0 balance, and also paid off, although it's a new account.  

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IMO, I wouldn't waste any more time w/Cap One. Even an unsecured card with them isn't going to go anywhere. It will be a rebuilder, stuck at a low $500 or $750 limit for the life of the card. Plus, it's 3 HPs to apply.

At some point your Navy card will graduate to unsecured. I think it takes a minimum of 12 mos.

In the meantime, I would talk with some local CUs and see what they would do for you. They may be willing to start you off at a low unsecured limit (like $500) which will grow with you. I'd keep your Cap One until you have at least 2 other open TLs (whether they're secured or unsecured).

Be sure you're paying your Navy card on time and I would PIF each month -- don't carry a balance and pay interest.

If you're young and have no baddies (save the one late payment), you could try some college cards -- Discover and Citi both have starter cards for college students.

And as someone else said, be sure you don't have any more late payments. They stay with you for 7 years and do have an impact on approvals, FICO, etc. You could try to GW it, but they're tough to get off.

[LS2982]

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@clocktick wrote:

The only thing I see you doing wrong is expecting a CLI from Cap One.  Do you know your FICO scores?  With Navy, I would call them and see if they can do anything.  At some point you may be able to get an unsecured card from Cap One (or others).  I'm also wondering if the late went on your CRs at all?  Probably not if it was only a couple days but you never know.

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AFAIK, Cap1 does not graduate their secured cards, you have to close out and reapply or keep it and reapp.

[Anonymous]

+1

I would shoot for the Navy Fed card!