Cap One, how long secured?

13 months for me. now have 3 lines totalling $3,800 with them. started with the same as you're doing. $199 for $200. inched my way up little by little. it can be done with persistence and work. Cap One is a good bank.

 

Opened my secured account in 11/96 and finally unsecured it in May/01 with the help of the Cap 1's advocate office.

Cap 1 never informed me of any options in unsecuring my account. It was on the board that I realized that I can unsecure my account.

I called the general number for Cap 1 and asked about unsecuring my account and was told that since I received a cl increase in the last six months, I cannot request unsecuring my account for another 6 months.

I wrote a letter to PFP and the letter was forwarded to Cap 1's advocate office. The advocate's office unsecured my account and gave me another cl increase (per my request).

Best regards,
Sam

 

When I called after 13 months of history on the account I asked them first to raise the CL which had never been raised from $500. They did so with no problem. Then I asked if I could unsecure the account. They said they could only do one or the other every six months and asked if I would rather have the security deposit back than have the CL raised.

Well, the security deposit was only $49 so I told them to raise the CL. They gave me the impression that they would have refunded the deposit if I had called any time after the account had been open six months.

Through planetfeedback I was able to get the card unsecured and get the interest rate lowered the same month I got the CL increase.

In retrospect I probably should have let the telephone rep unsecure the card and went for the CL increase through planetfeedback. Their automated system only gave me $250. I'm sure the consumer advocate would have given me more.

I'm going to try again in another three months.

 

My history with capital one:

Opened a secured visa with $49 got a 300 cl.
Opened a secured mastercard with $99 got a 500 cl.
Both opened in feb 2001.

In april 2001:

got capital one to increase my credit line 200.00 on both cards, refund annual fee, and decrease apr 2%

New credit lines, visa: 500, master: 700

In may 2001:

Got capital one to combine my cards, and increase my limit, and combine my security funds.

New credit line: 2400 on my visa (1200 increase), mastercard closed out. and security account now: 149.50 (with interest)

This monday:

I will have my cards Unsecured, and they will be sending my my security deposit back.

At the end of august:

I will call them to see if they will up my account to a gold.

PSugirl

 

No, although I do think that he likes me....He always calls to see if im ok with whats going on with my account....then I use the opportunity to request something else and he does it. Hes great!

psugirl

 

I received an offer to unsecure my $200 capital one visa at 7 months. I received a $200 increase at 6 mo. The offer was to unsecure my card for a $99 deduction in my security deposit. I took it.

 

Also, Citibank secured card is not reported until after I think 18mos..

 

My situation of needing to specifically call and ask might have been because I didn't use the card much.

I get great upgrades with the card I use and poor offers from the ones I don't. Go figure.

 

I too have a Cap one visa and now a m/c
It took about a yr. for them to consider unsecuring
Now I have gold on both with $700 and $1200 limits.
Citibank is good also.
Started with $500 secured....they unsecured (took two yrs.) raised to $1200 now limit is $1440
Takes time and effort.
Make payments well on time and always try to pay more than minimum.

 

it took 13 months to get unsecured. i have 3 cards that have had multiple increases. i am in the process of combining them into one. Cap one is okay in my book, so far anyway.