Bogdan Roberts, Credit Cards Moderator
@bogdan_roberts
To get a Capital One Platinum Secured card security deposit refund, you will need to close your account and pay your balance in full. Alternatively, you can earn it back as statement credit by using your card responsibly and graduating to an unsecured card.
Capital One Platinum Secured Deposit Refunds: Key Details
- Capital One periodically reviews accounts and graduates eligible Capital One Platinum Secured cardholders to unsecured credit card accounts.
- In case of credit card graduation, your deposit refund will be credited directly to the unsecured card account within a few billing cycles.
- The Capital One Platinum Secured deposit refund is sent to you by check after 2 billing cycles.
- If you have an unpaid balance or owe any fees, Capital One will deduct the amount owed from your deposit refund within 7-10 days.
- Capital One may also refund a secured card deposit if you close your Capital One Platinum Secured account.
Keep in mind that if your Capital One Platinum Secured account is eligible for graduation, you will be notified by either email or regular mail.
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Erin Jarboe, Member
@erinj
Capital One may increase your Capital One Platinum Secured credit limit after you make several consecutive payments on time. If you continue to pay on time and keep your account in good standing, Capital One may also refund your deposit and automatically upgrade you to an unsecured card. The deposit is refunded to you in the form of a credit on your account though.
They do not automatically upgrade your card or give your deposit back! Had the card over a year & they will not upgrade it or anything else! I’ve paid it in full every single month, along with every other things they say to do! I could no longer recommend this card for anyone! I’m canceling it!
My wife has had card for almost 2 years....never missed a payment...they keep sending offers for quicksilver...but won't refund the secured card...
People also ask
How do I increase my credit limit with the Capital One secured card?
There are two ways to increase your Capital One secured card's credit limit: deposit more money than required when you open the account or pay your bill on time and hope you get an automatic credit limit increase. If you make on-time payments for the first six months, you will be considered for a higher credit limit on your Capital One secured card.
Ways to Increase Your Capital One Secured Card Limit
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Does the Capital One Platinum Secured card graduate to unsecured?
The Capital One Platinum Secured (see details, rates & fees) card can graduate to unsecured if you pay the bill on time and otherwise manage your account responsibly. Capital One will periodically review your account for possible graduation, and you will be notified by email if you're eligible.
How to increase your chances of graduating with the Capital One Platinum Secured (see details, rates & fees) Card:
- Make on-time payments. This is probably the most important part of the process. If you don’t pay your Capital One Platinum Secured (see details, rates & fees) bills...
How do you close a Capital One Platinum Secured credit card?
To cancel a Capital One Platinum Secured (see details, rates & fees), call customer service at the number on the back of your card or log in to the Capital One website or mobile app and click on "I want to...". Cardholders can also cancel an account in person at a Capital One branch.
Be aware that if there’s a balance remaining on the canceled account, you are still required to make at least the minimum payment every month until the balance...
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