Upgrading Capital One Secured to Progress?

MrSilk

First of all happy new year to all of you, hope you all had a good break!

Just a quick question really, and to see if anyone else has been in the same situation!; I've got a secured Capital One credit card which I have had for around 5 months, and I'll be looking to upgrade to the progress card, I dos till have a CCJ and 3 defaults on my file from 2007/2009, and I'm scared in case these will stop me from obtaining the progress card.

My current card is paid in full as soon as the bill arrives, with no revolving balance.

Maybe I should just apply and see what happens? :rotfl:

BugsyBrowne

MrSilk wrote: »

First of all happy new year to all of you, hope you all had a good break!

Just a quick question really, and to see if anyone else has been in the same situation!; I've got a secured Capital One credit card which I have had for around 5 months, and I'll be looking to upgrade to the progress card, I dos till have a CCJ and 3 defaults on my file from 2007/2009, and I'm scared in case these will stop me from obtaining the progress card.

My current card is paid in full as soon as the bill arrives, with no revolving balance.

Maybe I should just apply and see what happens? :rotfl:

If I was you try one of the less decent creation credit cards like.

https://apply.creation.co.uk/microsites/all_saints/?responsecode=ALLCWT

https://apply.creation.co.uk/microsites/jdwe_esig/

MrSilk

BugsyBrowne, even wth a CCJ?

Are MBNA easy to get? after all that's happened, abit scared to try

MrSilk

And haven't got a landline so can't apply lol

BugsyBrowne

MrSilk wrote: »

BugsyBrowne, even wth a CCJ?

Are MBNA easy to get? after all that's happened, abit scared to try

I just know many people on this forum including izools who got 4 of these cards and she was declared BR.

MrSilk

Applied for Sygma but was declined, applied for Capital One progress, they did a credit check and they said that I passed their checks but I may receive a letter within the next 7 days if they need more information?, i presume maybe a passport or bank statement?, but I already have a card with them so why would they want passport/statements again?

Willing2Learn

FYI for anyone else out there thinking of Sygma. Their eligibility criteria:

UK residents aged 18 years and over with a UK bank or building society account. You will need to provide a landline telephone number for home or work and have a regular source of income through full-time or part-time employment of more than 16 hours per week (this can be you or your partner), or be a student, retired or on incapacity benefit. Finally, you need to have a clean credit history, ie, no arrears, defaults, County Court Judgements (CCJs), bankruptcies or Individual Voluntary Agreements (IVAs).

Edit:
@MrSilk,
It is my understanding that Capital One will decline an application for a Progress Card if a customer holds a Secured Card and that they must close the Secured Card Account first before making an application. I believe that this is their policy (though I could be wrong)

MrSilk

Willing2Learn wrote: »

@MrSilk,
It is my understanding that Capital One will decline an application for a Progress Card if a customer holds a Secured Card and that they must close the Secured Card Account first before making an application. I believe that this is their policy (though I could be wrong)

As far I know, and what Capital One have told me, the Secured Card is identical to the Classic, which it states you must have held your classic for at least 6 months, and as it allows existing customers to apply, I highly doubt they would cancel it.

Willing2Learn

I complained as an advocate for a disabled neighbour of mine when I, as his advocate, was given the exact same information as you and then declined his application because Capital One require the Secured Card to be closed before a Progress application can be made. This was an application he made (well I did the form for him) back in October. The sales team (based in India) told me exactly the same thing they told you but the head office advised me it was incorrect. They said that applications for any Capital One card will not be accepted if a Secured card is currently held. To make matters worse they also did a credit search with both Equifax and Experian even though the supervisor, when enquiring for the reason for being declined, ensured me that no credit checks had been done. So I made an official complaint for my neighbour and they made a goodwill gesture (credit to his account) plus reimbursement of the phone calls and removal of the credit searches as a resolution.

Today, about half an hour ago, I rang the head office 0115-843-3792 to check if policy had changed. They advised me that it has not and I told them about MSE member stating being incorrectly advised on the phone and that I was concerned about lack of consistency and training requirements of sales staff. They said they will look into training and also double check against the recorded conversation with myself and the sales team on behalf of my neighbour October 2012 to cross-reference and correctly identify the training requirements. They also said that when you are declined, as the system should not allow the application to be processed, you should contact them on the above number to ensure the matter is resolved correctly and any credit searches (if made) are removed.

Sorry if I seem to be a bit anal, but I'm someone who designs policies and procedures and am easily annoyed/frustrated when policies are not consistently applied and/or procedures not followed. I'm honestly not trying to disrupt yours or anyone else's applications but trying to ensure that everyone gets the right information at point of sale. Also don't want to see your credit file negatively impacted by Sigma and Cap1 applications in one day.

MrSilk

Willing2Learn wrote: »

I complained as an advocate for a disabled neighbour of mine when I, as his advocate, was given the exact same information as you and then declined his application because Capital One require the Secured Card to be closed before a Progress application can be made. This was an application he made (well I did the form for him) back in October. The sales team (based in India) told me exactly the same thing they told you but the head office advised me it was incorrect. They said that applications for any Capital One card will not be accepted if a Secured card is currently held. To make matters worse they also did a credit search with both Equifax and Experian even though the supervisor, when enquiring for the reason for being declined, ensured me that no credit checks had been done. So I made an official complaint for my neighbour and they made a goodwill gesture (credit to his account) plus reimbursement of the phone calls and removal of the credit searches as a resolution.

Today, about half an hour ago, I rang the head office 0115-843-3792 to check if policy had changed. They advised me that it has not and I told them about MSE member stating being incorrectly advised on the phone and that I was concerned about lack of consistency and training requirements of sales staff. They said they will look into training and also double check against the recorded conversation with myself and the sales team on behalf of my neighbour October 2012 to cross-reference and correctly identify the training requirements. They also said that when you are declined, as the system should not allow the application to be processed, you should contact them on the above number to ensure the matter is resolved correctly and any credit searches (if made) are removed.

Sorry if I seem to be a bit anal, but I'm someone who designs policies and procedures and am easily annoyed/frustrated when policies are not consistently applied and/or procedures not followed. I'm honestly not trying to disrupt yours or anyone else's applications but trying to ensure that everyone gets the right information at point of sale. Also don't want to see your credit file negatively impacted by Sigma and Cap1 applications in one day.

No worries! Just called them and they did indeed say it has been cancelled! - Will cancel my secured card end of the month.

Plxply

I was recently declined from a Secured Card to a Progress, could it be this reason? I've had the secured for a year now, paid off in full each month. I passed all the initial credit checks online but got a letter later saying that it had been declined.