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Awesome Capital one rebuilder program!

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Anonymous
Not applicable

Re: Awesome Capital one rebuilder program!


@torry590 wrote:

@Anonymous wrote:

So since I already have two captial one cards, I won't get approved for this one? I tried anyway and got the "Unfortunately, we weren't able to approve you for this card, blah blah blah" message. Damn.


I was told you cannot have this card if you have the secured also. This is from Cap One Customer service. 


Can you close your secured card, then get this one?  That might be good for those who had a secured card and can't get an unsecured card, but want the deposit back. 

Message 51 of 158
Anonymous
Not applicable

Re: Awesome Capital one rebuilder program!

I have a Cap1 Secured card and got a letter in the mail stating that as of January 2016 I will no longer be able to deposit money into my account to increase my credit limit. They are no longer doing Secured cards but this is their new program that's replacing it.  Smiley Happy Seems pretty cool!! Makes me wonder if I can apply for it and get a 3rd Cap 1 card...


Message 52 of 158
Raiderguy8
New Contributor

Re: Awesome Capital one rebuilder program!


@Raiderguy8 wrote:

Just applied for my wife (534 scores and only three medical collections on her report) and she got the 7-10 day message.  Now we wait.


My wife got her notice last night and was approved. I am not sure what they looked at in the days since we applied but I am happy that it all turned out for the best!

Message 53 of 158

Re: Awesome Capital one rebuilder program!

I have the regular secured platinum from capital one that I wish to get rid of. It has help me build my credit and since then I've gotten the freedom, discover it, sapphire Amex blue AAPlatinum, macys

 

I still have the capital one secured because its my oldest card with occasional purchase on it but I would like to get rid of it due to the AF. I'm afraid of the impact it will have on my score however. The recent cards I got really is keeping my age young and cancelling it I feel will hurt it more. 

 

Is it possible to do a PC to this one? I hear they won't budge on secured to non secured but this seems like a lateral move.

 

On to a more general question is what will happen to the old secured? It sounds like they are reducing a ton of features like CLI through deposits. My card doesn't even have a chip on it yet. Should I wait it out in hopes they will phase the card out?

Message 54 of 158
torry590
Regular Contributor

Re: Awesome Capital one rebuilder program!


@creditschwarma wrote:

I have the regular secured platinum from capital one that I wish to get rid of. It has help me build my credit and since then I've gotten the freedom, discover it, sapphire Amex blue AAPlatinum, macys

 

I still have the capital one secured because its my oldest card with occasional purchase on it but I would like to get rid of it due to the AF. I'm afraid of the impact it will have on my score however. The recent cards I got really is keeping my age young and cancelling it I feel will hurt it more. 

 

Is it possible to do a PC to this one? I hear they won't budge on secured to non secured but this seems like a lateral move.

 

On to a more general question is what will happen to the old secured? It sounds like they are reducing a ton of features like CLI through deposits. My card doesn't even have a chip on it yet. Should I wait it out in hopes they will phase the card out?


I have heard it is rare, if not impossible to PC a secured card with capital one. Anyone correct me if I am mis-informed. Cat Tongue

As of 5/2021 EX8: 616 | TU8: 665 | EQ8: 662
First Premier $700 | Capital One Secured $500 | Discover It $1,000 (formerly secured)
Capital One Quicksilver $400 | Credit One Platinum $300 | Victoria's Secret $200
Express Next $500 | Williams Sonoma Store $400 | Brylane Home $250 | Chime Credit Builder NPSL
Walmart World Mastercard $300 | Aspire Mastercard $500 | Cerulean Mastercard $750
CFNA Bosch Car Care $800 | First Premier no AF $700 | Avant Mastercard $300 no AF
Message 55 of 158

Re: Awesome Capital one rebuilder program!

Yes, I've heard that too and that's why I didn't even bother trying. They are now making you close the account in order to get your deposit back. But since they seem to be phasing out the regular secured card and replacing it with this product and I'm not really upgrading. I guess I should ask next year in Jannuary when they implement the change on the credit limit increase.

Message 56 of 158
Anonymous
Not applicable

Re: Awesome Capital one rebuilder program!


@creditschwarma wrote:

Yes, I've heard that too and that's why I didn't even bother trying. They are now making you close the account in order to get your deposit back. But since they seem to be phasing out the regular secured card and replacing it with this product and I'm not really upgrading. I guess I should ask next year in Jannuary when they implement the change on the credit limit increase.




I had a "Love" button on my secured card, I clicked it about 5 months ago and got a letter in the mail that they couldn't give me and increase. Last month I went to pay my bill and wouldn't you know it.. a $300 increase on my secured card without a deposit Smiley Surprised I know it's not much but for a credit fetus like myself I was pretty happy.

Message 57 of 158

Re: Awesome Capital one rebuilder program!

I just chatted with capital one and they did not allow a Product change. Bummer Looks like I'll be canceling next year. Also of note you have to cancel 45 days before your annual fee is assesed or you will be stuck with it.

 

This new program is neat and the no annual fee is attractive but I wish they would give old accounts a way to graduate.

Message 58 of 158
Anonymous
Not applicable

Re: Awesome Capital one rebuilder program!

Just wanted to add my own experience. I had two Cap1 charge-offs from 2012 (incidentally deleted from reports as of this week) and am in the process of rebuilding since that disastrous year.

 

I app'd for the program on 12/14 and received the 7-10 day message. I was approved on 12/16, and my new card arrived yesterday, 12/19. Not too shabby! All in all, I'm elated to have my first unsecured CC at my current credit score, no matter the CL or circumstance. 

Message 59 of 158
Anonymous
Not applicable

Re: Awesome Capital one rebuilder program!

When I click on APPLY, it says offer has expired,..... please help me, thanks

Message 60 of 158
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