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I don't think cap1 graduates secured cards anymore

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Established Member

I don't think cap1 graduates secured cards anymore

Hey Guys! It's been a while since I posted but I ran into a set back with Cap1. I was very much looking forward to my card graduating after 6 months of on time payments but it didn't. I called around month 4 because someone here on the forum shared their experience that you can request a CLI right before the card graduates and then you get another increase after the card graduates to an unsecured. That wasn't the case for me though. I called around last October and they told me I should it graduate after February so I called back the other day because I haven't heard anything yet and they told me that I had to be enrolled in that program and that I never was. 

 

Then they told me that after 6 months of on time payments I can request a credit limit increase, since I was on month 9 with perfect on time payments she encouraged me to try and that I'd receive a response immediately. <-- this is what she kept telling me no matter how many different ways I asked why I was told something different and why I wasn't enrolled in the program. The only thing she did say about that was that I had to have been enrolled when I started the card.

 

So I tried getting a CLI and my response was immediate but it was that I would get more information within 10-14 days or something like that. So I know what that means, I didn't get it. Now I guess my card won't be able to graduate either. I guess if anyone is looking at applying for a cap1 secured card, be sure you are enrolled in the program to graduate the card before you actually open it. 

 

Do you guys have any similar experience? At some point should I just try to do a product change for a Quick Silver 1 or Quick Silver when my scores go up a bit more? 

Message 1 of 16
15 REPLIES 15
Regular Contributor

Re: I don't think cap1 graduates secured cards anymore

My Cap1 Plat M/C graduated around 10 months. That was from March 2017 to January 2018. Perhaps they've changed their approach since then?

 

DW opened her own secured Cap1 M/C in September 2018. She received an automatic CLI last month of $300. Will be watching closely to see if she graduates, what the timeline is, or not.

Aug 2019: EQ 713, EX 698, TU 708 (Mar 2017: 550's)

AAoA: 8.6 years, Gardening Goal: Spring 2020
Message 2 of 16
Senior Contributor

Re: I don't think cap1 graduates secured cards anymore

There have been a few posts about Cap1 not graduating anymore in the CC section. I may be wrong. I dont think you can upgrade while being secured. They have cut back on CLI's before Credit Steps kicked in. Used to be able to get a CLI and get whatever they said what amount your CS steps would be after 5 on time payments. You can get a early CLI but whatever was promised in the begining. Thats all you'll get. Early and finishing CS. Like I said. I think I read about it. Not 100% sure. Maybe someone else will chime in. It was pretty recent.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 3 of 16
Member

Re: I don't think cap1 graduates secured cards anymore

I checked my credit report recently and noticed my Cap1 secured card doesn't report as secured.

 

I've had it since 2018 Feb...however I can't remember for sure if it ever reported as secured. Anyone know?

 

If it has ever reported as secured then my card has graduated.

 

However I have yet to receive my deposit back.

Message 4 of 16
Regular Contributor

Re: I don't think cap1 graduates secured cards anymore


@VonD wrote:

 

However I have yet to receive my deposit back.


Check your account balance. When mine graduated, I didn't notice either, and missed their email notification. However, they returned my deposit in the form of credit to the account.

Aug 2019: EQ 713, EX 698, TU 708 (Mar 2017: 550's)

AAoA: 8.6 years, Gardening Goal: Spring 2020
Message 5 of 16
Valued Contributor

Re: I don't think cap1 graduates secured cards anymore


@ngof15 wrote:

 they told me that I had to be enrolled in that program and that I never was. 

 

Did you have to put down a deposit to begin with?  If not, then you more than likely weren't given a secured card.  I have a $500 plat, unsecured....doing the credit steps.  At 4 months I called in and upgraded to Quick Silver (not QS1).  I completed my credit steps this month, have not received my cli but I kept pressing the cli button every week and finally got part of my Credit Steps graduation cli of $100 of the $250 two days ago.  I should get the other $150 between April 6-May 6.

(Edit to add) csr told me to call in and ask if I have any offers or upgrades.....maybe you can call in again and just ask that.  


"My Take Home Pay Don't Take Me Home"
Message 6 of 16
Established Member

Re: I don't think cap1 graduates secured cards anymore

Hi @Laurachrissy, yes I made a deposit of $200 so it's definitely a secured card. As @

Message 7 of 16
Established Contributor

Re: I don't think cap1 graduates secured cards anymore


@VonD wrote:

I checked my credit report recently and noticed my Cap1 secured card doesn't report as secured.

 

I've had it since 2018 Feb...however I can't remember for sure if it ever reported as secured. Anyone know?

 

If it has ever reported as secured then my card has graduated.

 

However I have yet to receive my deposit back.


When I had my Wells Fargo Secured card, it never reported as "Secured". It was just another credit card as far as my reports were concerned.

I’m probably never finding that garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 8 of 16
Member

Re: I don't think cap1 graduates secured cards anymore

Similar experience here. I actually called them about mine a couple hours ago, which is almost two years old now - I was told by a CSR that "the system" determines if a card graduates or not, and they have no control over it. Also, secured cards aren't eligible for a PC or CLI until they've graduated to unsecured. 

 

Then again, the same CSR told me my QS1 was eligible to upgrade to a Venture and when put through to the correct department for that, they said there was no upgrade eligibility listed. But, when asked about my secured card, they said that they're doing some changes to "the system" right now and hope to be able to manually graduate cards in the near future.

 

/shrug

Starting Scores: (Aug 2017) [CK]

Current Scores: (Jun 2019) [F8]

Current Goal: 720+ All [F8]
Gardening until further notice
| | | | | | | |
Message 9 of 16
Established Member

Re: I don't think cap1 graduates secured cards anymore

That's interesting. I wish their CSRs would get on the same page. Maybe we can piece the real truth together through our collective experiences in this community. So since the secured card can't be PC'ed did you just apply for the QS or was it offered? 

 


@seayou8976 wrote:

Also, secured cards aren't eligible for a PC or CLI until they've graduated to unsecured. 


See I got conflicting information yesterday when I called, I was told I could get a CLI on my secured platinum card after 6 months of on time payments. I've heard others on the forum say they got a CLI after 4 months and again after the card graduated. 

 

So confusing Smiley Frustrated

Message 10 of 16
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