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I don't think cap1 graduates secured cards anymore

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Member

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

Very confusing! As far as the QS1 goes, I applied and got it about six months after I got my secured card.

And I slightly misspoke, the secured card gets the one auto CLI after six months, but you can't request any additional ones until it's graduated/unsecured. I've tried and the denial letter seems to back that up, stating that "unsecured credit line increases are not available upon request on Secured Card accounts. "
Starting Scores: (Aug 2017) [CK]

Current Scores: (Jun 2019) [F8]

Current Goal: 720+ All [F8]
Gardening until further notice
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Message 11 of 16
Member

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

To answer my own question just in case anyone else is wondering...no, capital one doesn't report as secured. My card is still secured though.

Message 12 of 16
Super 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.


Depending on where you got that info, like credit karma, it may not be showing that it's secured, but if you go directly to someone like Experian, there is a line that shows it's secured.

 

To the OP: cap1 flip-flops on graduating. If when you signed up, they weren't graduating cards, it will never graduate. If someone signs up when they're graduating, and they stop graduating, it will still graduate. You can't PC a secured card.








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Message 13 of 16
Super Contributor

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

Also, you will only ever be eligible for a single increase on the secured card. And that timeline is 12 months, but can be as soon as 6. On this forum people, lots of people report getting their CLIs or graduations early, but those are supposed to be outliers. The fine print always says 12-18 months with a chance of 6-7 depending on the bank. For myself, my discover took 21 months to graduate while "the norm" on this site was 7. The fine print says it's a 12 month program, but they start to review for graduation as early as 7 months.








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Message 14 of 16
Established Member

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

Discover for me was 12, they advertised 12 as well when I signed up.

CH 7 BK DC: 07/18
FICO 04/19: EX 601, EQ 632, TU 589
IIBK: Chase, BoA, Citi, CapOne, Discover
Rebuild 03/19: CreditOne $300, FingerHut $400, Merrick $200, LendUp $750, CapOne $500, Self Lender 2 year.
Message 15 of 16
New Member

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

They advertised secured on the website on 3/18 when I applied and this is still on the application as of last week below:

https://m.imgur.com/gallery/tKM15So

Edit: 3/18 as in March of 2018
Message 16 of 16
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