I would like input on this situation. My Capital One was opened in 11/96 (right after a BK-13) with a total of $500.00 security and a present cl of $700.00 and a increase review in 04/01. Is it possible for me to unsecure this? This is my oldest account by far. Will Cap 1 allow me to unsecure it and still retain the opening date of 11/96? Or should I leave it alone until my other cc mature a bit (Providian 07/00, 03/01). Best regards, Sam
Last time Cap1 unsecured my Cap1 secured card two years and they required that you don't have any negative on your credit report. By the way, they couldn't change or lower the interest rate of the account after they unsecured.
It will retain the same card number and history after it is unsecured. However they will automaticaly deny your request to unsecure the card if you have received a limit increase in the last six months. Therefore, if you have a good payment history with them over the last 4 1/2 years, apply now before thay increase your limit.
Thanks for the input. Looks like I will have to wait until I clear a few negatives off before I go for the unsecured route. Best regards, Sam
Jungnoo, They turned me down for the limit increase because they type of the account that I have. I closed my account after two years. Right now I have Kmart card and they ave me credit line increase after three months of account opening.
