I have had a secured CapitalOne card for 3 and a half years. Did receive the usual $100 limit increase couple years ago. A year ago I apped for a unsecured card, denied. I chatted with Support and they do not do any more limit increases on Secured cards. I have had a 100% perfect payment history and a UTL (i am guessing) at 5% or less always. Most times its paid in full before it even prints.
Is it time to shred it and get BOA instead? I emailed my local credit union to see if they offer secured cards (only loans so far as I can see online). My AAOA is 3.5 years currently and I've had credit history for just over 7 years according to my most recent report. My UTL on my cards as of my last report is also at 1 point something percent.
I have this card and a US bank secured card that I've had for just over the year mark. I am going to app for a unsecured card with them shortly. Also a AU on a card that doesn't get used ever and if so its pif'd (parents card).
Is it time to cut my loss and maybe try back at a later date for a unsecured card?
EDIT: I was being dumb and noticed in the options online I could hit the Luv button even on secured cards, so I figured what the heck and of course got the 7-10 day message. Than I went ahead and emailed the EO on 42/21 requesting a limit increase. I dont think this card is going to grow with me at all and its time to just shut it down.
I would not close it till you have your unsecured portfolio intact, why are you wanting to go for more secured cards?? Whats on your report that isnt allowing approval for unsecured cards??
I am waiting for my reports to update to paid tax lien. I am guessing thats the only thing thats holding it back. I do have quite a number of judgements, a tax lien, and paid charge off's and paid collections. Its long and ugly, but its all paid and all falls off throughout this year (besides the tax lien). I am guessing its my ugly past thats still hunting me and will continue to do so for the coming months.
Perhaps I am just getting discouraged with big banks for a smaller local banks and credit unions to do business with who may see my report and see that in the last 6-7 years i've been perfect. Just the 7th year was pure hell. It also doesn't help I burned nearly every big bank.
I figured once my report updates maybe id reapply with Capital1 later one more time for a unsecured card. I am just getting fed up with secured cards and dont want them anymore.
If that makes any sense. 
And quite honestly I dont really care to have credit cards except I know they are needed for a mortgage (in about a years time). My local CU does offer Secured Credit Cards and maybe will graduate me quicker than a national bank. And I think it might be better to bank with my local bank than a big national bank perhaps.
@meehan22 wrote:I am waiting for my reports to update to paid tax lien. I am guessing thats the only thing thats holding it back. I do have quite a number of judgements, a tax lien, and paid charge off's and paid collections. Its long and ugly, but its all paid and all falls off throughout this year (besides the tax lien). I am guessing its my ugly past thats still hunting me and will continue to do so for the coming months.
Perhaps I am just getting discouraged with big banks for a smaller local banks and credit unions to do business with who may see my report and see that in the last 6-7 years i've been perfect. Just the 7th year was pure hell. It also doesn't help I burned nearly every big bank.
I figured once my report updates maybe id reapply with Capital1 later one more time for a unsecured card. I am just getting fed up with secured cards and dont want them anymore.
If that makes any sense.
Oh ok makes sense now, if these are mostly dropping this year I would do nothing and just wait for them to disappear then go after your unsecured cards, you will need at minimum 3 revolving bankcards to maximize FICO scores. If thats a federal paud tax lien you can file forms 12277 to have it withdrawn if you meet the qualifications, if another agencys lien check and see if they have a way to withdraw it after its paid. Good luck
I closed my cap1 secured card 2 weeks ago . I had it for 3 years with a $1400 ($1100) of which was secured. Before I closed I applied for a quicksilver MasterCard and was approval with a $500 cl. Cap1 also upgraded my old orchard bank that was transferred them to a quicksilver MasterCard just last week.
Starting Score: Eq 485 TU 467 Ex 400 BK filed Dec 2016
@gdale6 wrote:
@meehan22 wrote:I am waiting for my reports to update to paid tax lien. I am guessing thats the only thing thats holding it back. I do have quite a number of judgements, a tax lien, and paid charge off's and paid collections. Its long and ugly, but its all paid and all falls off throughout this year (besides the tax lien). I am guessing its my ugly past thats still hunting me and will continue to do so for the coming months.
Perhaps I am just getting discouraged with big banks for a smaller local banks and credit unions to do business with who may see my report and see that in the last 6-7 years i've been perfect. Just the 7th year was pure hell. It also doesn't help I burned nearly every big bank.
I figured once my report updates maybe id reapply with Capital1 later one more time for a unsecured card. I am just getting fed up with secured cards and dont want them anymore.
If that makes any sense.
Oh ok makes sense now, if these are mostly dropping this year I would do nothing and just wait for them to disappear then go after your unsecured cards, you will need at minimum 3 revolving bankcards to maximize FICO scores. If thats a federal paud tax lien you can file forms 12277 to have it withdrawn if you meet the qualifications, if another agencys lien check and see if they have a way to withdraw it after its paid. Good luck
This. I would just grow the cards that you have at this point. If you are going to have ALL your baddies but one drop off before your mortgage attempt, I think it would be best to not get anything until after. That way, when you app for your mortgage, you will have the paid tax lien, no other baddies, no inqs in well over a year, and solid payment history on the cards that you have already.
