Capital One secured Card

jenifergilmore

Hi Guys,

I have had a capital one secured card for 6 weeks now. I paid a £29 deposit and have a £200 credit limit.

I'm wondering if anyone else has had the same card with the same limit and how long it took before they got offered their first credit limit increase.

Thanks in advance

Curr946

3-6 months before they will increase the limit (on classic anyway) not 100% sure how the secure card works.

BugsyBrowne

jenifergilmore wrote: »

Hi Guys,

I have had a capital one secured card for 6 weeks now. I paid a £29 deposit and have a £200 credit limit.

I'm wondering if anyone else has had the same card with the same limit and how long it took before they got offered their first credit limit increase.

Thanks in advance

Remember capital one secured credit card is a credit builder so don't expect credit limit increases like you would on a mainstream card.

Plxply

There are no credit limit increases with the Secured Card as far as I know, after you've used them for a while you can apply for their progress card. I'm planning on applying roughly a year after getting the card, it is their bottom of the barrel card and the idea is you change when your credit rating improves.

loony2012

Yes you NEVER get a limit increase with that card.
You keep it until you shut it and they return the fee.

What you need to do is use it then apply again for a classic/progress

UsetheFORCE

Is this FACT, who is the source of this information?

Thanks

Plxply

UsetheFORCE wrote: »

Is this FACT, who is the source of this information?

Capital One doesn't give limit increases on demand and if you need a limit increase with a secured card then I would say you have larger problems. However, nobody has ever reported having an increase and by the time you would be eligible for one, if even possible you would move onto the Progress card.