How do I get a Capital One Platinum Secured card deposit refund? This question is about the Capital One Platinum Secured Credit Card

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. What you should know about the Capital One Platinum Secured deposit refunds: Capital One Platinum Secured deposit refunds are sent to you as checks in approximately two billing cycles. If you have an unpaid balance or owe any fees, Capital One will deduct the amount owed from your deposit refund. Capital One may also refund a secured card deposit if the card graduates to an unsecured card. Capital One periodically reviews accounts and upgrades select Capital One Platinum Secured accounts to unsecured Capital One Platinum Credit Card accounts. In case of credit card graduation, your deposit refund will be credited directly to the unsecured card account within two billing cycles. 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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How do I get a Capital One Platinum Secured card deposit refund?

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This question is about the Capital One Platinum Secured Credit Card

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Bogdan Roberts, Credit Cards Moderator

@bogdan_roberts • 11/24/22 This answer was first published on 05/07/21 and it was last updated on 11/24/22.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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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.

What you should know about the Capital One Platinum Secured deposit refunds:

Capital One Platinum Secured deposit refunds are sent to you as checks in approximately two billing cycles.
If you have an unpaid balance or owe any fees, Capital One will deduct the amount owed from your deposit refund.
Capital One may also refund a secured card deposit if the card graduates to an unsecured card.
Capital One periodically reviews accounts and upgrades select Capital One Platinum Secured accounts to unsecured Capital One Platinum Credit Card accounts.
In case of credit card graduation, your deposit refund will be credited directly to the unsecured card account within two billing cycles.

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 • 05/07/21 This answer was first published on 08/19/18 and it was last updated on 05/07/21.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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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.

Felipe @felipem_7

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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...

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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?

Yes, the Capital One Platinum Secured card can graduate to unsecured. Capital One will periodically review your account for possible graduation. If your account is eligible, you will be notified by email.

How to increase your chances of graduating with the Capital One Platinum Secured 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 bills by the due date, you won’t even be considered for graduation.
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How do you close a Capital One Platinum Secured credit card?

You can close your Capital One Platinum Secured Credit Card either online or by calling the number on the back of card.

Here’s how you can close your Capital One Platinum Secured card account:

Online: Log in to your account and click "I Want To…" at the top of the page. From there, select "Close Account" from the Account Services menu and confirm you want to close the account.
Over the phone: To close a Capital One Platinum Secured account by phone,...

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