Hi- I applied to recieve a Capital One secured card and they sent me a congrats letter. So now I have to send in $99 and then I will have a $500 limit. My question is, is that whole $500 available to me or what....please explain how the secured works with them having my $99. Are they going to give me increases or what. Thanks for any help Keisha
The whole $500 will be available for your use. I got my deposit back from Capital One after 13 months, but I had to call the Consumer Advocate's office to do it. I got a $250 credit line increase after a year and an APR reduction to 15.9%.
NEVER HAD A SECURED CARD, but it sounds good. Other people have said they had to deposit $200 to get $200 credit line or $400 for a $500 credit line.
I had the $500 for $49. When my deposit was returned 13 months later they even paid interest. I think I got $50.12.
You send in $99.00, they send you a green marble card with $500. in credit, if you make timely payments for one year they will increase your credit to $700....after a year and a half of timely payments and no over limits they will return your original $99.00 plus any interest that has accumulated. after that you can expect a gold card offer from them. Remember...timely payments and don't go over your limit. good luck to you. Sean
Cap 1 has denied me everytime I've applied. The last time, I called and the CSR cut me off at every turn. Tried to ask for a chance and she said no way. My credit just isn't that bad. Don't understand it...
