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Regarding secured cards

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Regarding secured cards

I have had a captial one secured and a citibanks secured for about 7 months now. Exceptional payment history on both. Does anyone know when they report to the credit burereas during the month? I have less than 30% used on both cards and it still shows like 80% used when i get my reports. Looks like as I use them and pay them down, they seem to always report right before I make a payment and then dont update for a bit.

 

Any ideas?

 

Also, I have heard Cap One does not graduate anymore. Is this true? Citibanks is still around the 18 month mark as long as you have clean payment history correct?

 

Thanks!

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Established Contributor

Re: Regarding secured cards

Sometimes you can check your statements I'm not sure how Captial One posts theirs but I do know on my Amex it will say CLOSING on day X so rule of thumb you can use it the next day (that is the STATEMENT closing) not the payment due so it's usually a few days after that that the actual statement closes but some cards are longer/shorter than others so it may be 3 days after or it may be 7 days after another thing you can do if it doesn't say what day is keep an eye on when your history clears when it shows no recent activity or no activity reported yet that is a good sign that that is your first day of the next cycle.       When you make your payment always pay a little extra after that OR if you PIF on your Payment due date add a few dollars before your statement pulls and DO NOT TOUCH! until it does then you can go back to having fun Smiley Very Happy
















Message 2 of 4
Senior Contributor

Re: Regarding secured cards


@Jcarternetwork wrote:

 

Also, I have heard Cap One does not graduate anymore. Is this true? Citibanks is still around the 18 month mark as long as you have clean payment history correct?

 

Thanks!


CapOne does not graduate any more.     Whether or not your card graduates is determined by the policy they held when you apped.

We've had a number of people (including me) reporting that Citibank has been early graduating people at about a year.  They've been notifying people of their eligibility for early graduation ~10-11 months (it takes 6 weeks to process, so you get your card at about a year).

Nov 2019


Garden goal: keep on keepin' on
Usually a faithful practitioner of AZE5or6or7; working on AZE1or2 and grumbling about it.
Message 3 of 4
Senior Contributor

Re: Regarding secured cards

For Cap1. Login, Click "View Account"on the block. Under the name of the card. Click "View Details". A pop up will open. At the botom you'll see this.

cap1.JPG

You'll want to pay in full before the statement date when it comes to secured. So for me I pay before the 4th of each month. A few days later you repeat the process and you'll see the month moved out and your ready to use the card again. Dont know how Citi works.





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.
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