capitalone secured -> capital one classic...

Kms

Hi all,

Just wondering really, i applied for a capital one secured card in june, got accepted and paid my £49, been using it fully and paying it every month since,

iv just applied for the classic card as a step up and had all green ticks at the end of the application, but they say they have to perform further checks, is this a good thing or not?

i will wait and see, but just want to see what other peoples experiences are.

iv just had an £750 increase on my halifax credit card, my overall debt is dropping and iv not missed a payment on any of the credit cards i have... so im in no doubt my credit rating is getting better slowly..

Thanks in advance
Kms

BugsyBrowne

Can't understand what you're trying to achieve by this.

Kms

ignore it then...

i was asking for other peoples experiences in similar situations....

but thank you for taking the time to respond with your helpful post.

BugsyBrowne

Kms wrote: »

ignore it then...

i was asking for other peoples experiences in similar situations....

but thank you for taking the time to respond with your helpful post.

I'm 99% sure another wally brain on here will share their experience with not achieving anything with their upgrade apart from having 2 cards in their purse/wallet that are as bad as one an other!!

Kms

why do you waste time with pointless comments?

its a simple question!

if the one cards approved, then i will close the secured account!
the benefit is i get my £49 back!

tell me, why are they bad? when paid in full they are just as good as any other card out there?

UsetheFORCE

As far as I am aware, a secured card IS a classic card....

You should of applied for say a PROGRESS card...

That is what I did, I have now closed my secured card as I have also obtained a Vanquis Alpha and Barclaycard Intial this month.

Kms

UsetheFORCE wrote: »

As far as I am aware, a secured card IS a classic card....

You should of applied for say a PROGRESS card...

Thankyou for your reply

a classic card isn't a secured card, the secured card never gets limit increases and you obviously pay a security deposit.

http://www.capitalone.co.uk/creditcards/credit-card-range.jsf

i have a halifax card with a healthy limit and i spend about a grand a month on it, fuel is put on the cap1 card and both paid off fully each month. i want to be in the best position possible to obtain a mortgage in a few years time!

if i can get my security deposit back then great!

sfax

Although not having anything bad in your credit report is important for applying for a mortgage; LTV, your age and your income are what really matter. I would personally put much more emphasis on saving more for a deposit rather than trying to better my credit rating - but others may disagree

chanz4

Kms wrote: »

Thankyou for your reply

a classic card isn't a secured card, the secured card never gets limit increases and you obviously pay a security deposit.

http://www.capitalone.co.uk/creditcards/credit-card-range.jsf

i have a halifax card with a healthy limit and i spend about a grand a month on it, fuel is put on the cap1 card and both paid off fully each month. i want to be in the best position possible to obtain a mortgage in a few years time!

if i can get my security deposit back then great!

Just having x2 cards will do a mortgage app good, its not points win prizes

sfax

chanz4 wrote: »

Just having x2 cards will do a mortgage app good, its not points win prizes

lol - much more succinct

rartherinv

I applied for one a few times over the last couple of years and got one towards the end of this year. Although my memory is somewhat goldfishy, i think they rejected me straight off the bat with the adverse CRA information shpeel, whereas when accepted they said they will perform their additional checks.

don't rely on a goldfish's memory though...