Mr Miles, Consultant
@mrmiles42
One way to go from a Capital One secured to unsecured card is applying for a new Capital One credit card that doesn’t require a security deposit. There are also reports of Capital One graduating secured cards to unsecured, but you can’t be sure they’ll make the switch in your case. It doesn’t hurt to ask, though.
If you would like to request a switch, you can call Capital One customer service at 1-800-227-4825. Enter your card number and ask to speak to a representative. Then, ask about your options for graduating to an unsecured card. The longer you’ve been making timely payments, the better your chances will be.
There are a few more points to think about before you take action.
Here’s what to consider before going from a Capital One secured to unsecured card:
- Your two options are applying for a new Capital One card or asking Capital One to graduate your existing card. Neither is a guaranteed success.
- You can ask Capital One to graduate your secured card to unsecured by calling 1-800-227-4825.
- Capital One might offer to graduate your secured card even if you don’t ask. That would mean you’ve been a very responsible cardholder.
- Some users report graduating from Capital One secured to unsecured after anywhere from 8 months to 2 years.
- The more your credit score rises, the better your chances are of getting a new unsecured card or graduating from your secured card. On-time payments are crucial to that.
- Other than the deposit, there’s little difference between a secured card an unsecured card. Both report to the credit bureaus and have the same credit building potential.
- You can increase your Capital One secured credit limit up to $1,000. You can do this by adding more money to your deposit within 80 days of opening the account. Capital One may also increase your limit after you make your first five payments on time.
If you want to go from a Capital One secured to unsecured card, the best thing you can do is make your payments on time and generally using your credit responsibly. Aside from that, it’s mostly a matter of patience. Once your score has improved, you can either try for a new card or ask if Capital One will graduate you.
Ariel Gonzalez, Member
@agonzalez2
I woudn’t even try to apply for a capital one secure one card. They will take your deposit and use it against your credit with the idea if you build good credit with them that they will change it after some time to a unsecure account. Turns out that is a hoax...The card will remain secure for the life of the card no matter how well you do with your credit. I used the card for over a year now with no miss payments. Yes they raised my credit limit after 8 month from 200.00 to 500.00 with 1 of those hundreds being my deposit. When I called to graduate the card they told me they were not autherized to change it now there are any chances of graduating a secure to unsecure. that is just not possible as they mentioned i would have to apply for a new one. And they will not refund your money unless you canel the account. This is the kind of business Capital One does to people who are establishing credit. I will not apply with them for a new card simply for the fact that it will become a new account which is not good for the credit. So in my opinion if you are trying to establish credit ..and looking for secure card do yourself a favor and stay away from capital one.
Tamara O
@tamhr5
Agreed stay away from capital one
People also ask
What is the best Capital One credit card bonus?
The best Capital One credit card bonus is the Venture Rewards card’s 50,000 miles. You’ll have to spend $3,000 in the first 3 months to earn the bonus miles. The Venture Rewards Card also gives 10 miles per $1 spent at hotels.com/venture and an application fee credit of up to $100… read full answer
show lessHow many Capital One cards can you have?
I have 4 cards. Quicksilver upgraded from Platinum July 2015, Quicksilver One November 2015, Quicksilver March 2017, and Savor Feb 2019.
Did we answer your question?
Tamara O @tamhr5
Unfortunelty Mr Miles is partially incorrect. Capital One does not offer conversion from secured to unsecured although when you sign up customer reps will mis inform you. It isn’t till later that you discover the credit score recking truth. Capital one uses media to build their reputation but it is filled with untruths. You must cancel your capital one secured card and apply separately for an unsecured. And as stated you will do damage to your credit score in the process. I would go near them there are better options that offer graduation from secured to unsecured where the transition only requires a soft credit pull and account history review so their is no damage to your credit score. I assume they hope is that people will be opposed to cancelling and they will get to keep your security deposit. Awful scam ... I do not do business with liars .. I rather search high and low for companies that tell you the truth upfront loudly and boldly... Not hidden in fine print or blurred by pitches worded to cause confusion or misinterpretation. Why spend all those advertising dollars only to lose customers because they uncovered a lie ??? Capitol one you lost great customers and you will continue to lose them.
Raymond @rayzink1972
@cadwhiz: exactly the same problem I am having with Capital one secured platinum card. $251 credit limit 8 month account age. 681 score. 0 debt , 0 carry over balance , 0 neg marks. , 0 LATE PAYMENTS. But i cannot use card at all or my utilization will drop score 50 points. Basically the card is worthless besides keeping it in my top dresser drawer.
Gena @gena23smith
@cadwhiz: Yep, I can confirm this as well. Just called about this. Have had the card since 2013 with a stagnant credit limit, and thought, okay...people say this works, so let's try it. It's a no go. My credit is excellent now, I have another Capital One card with a much higher limit, but still no. Very disappointed in their customer service. I closed the card. I want to close my other Cap One, but that would be too detrimental to my score.