How do I check my Capital One Platinum Secured credit card deposit status? This question is about the Capital One Platinum Secured Credit Card

How do I check my Capital One Platinum Secured credit card deposit status?

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This question is about the Capital One Platinum Secured Credit Card

Hector Molina, WalletHub Analyst

@hectormolina • 04/16/20 This answer was first published on 04/16/20. 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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You can check your Capital One Platinum Secured Credit Card deposit status by phone or online. To check by phone, call customer service at the number on the back of the card. Or, log in to your online account and click the “Need Help?” icon at the top of the page to live chat with a customer service representative.

Capital One Platinum Secured credit card deposit status questions often revolve around refunds. Whether you close your Capital One Platinum Secured card account or graduate to an unsecured card, you’ll receive a refund for the entire security deposit amount, less any unpaid balances or fees. In either case, customer service can tell you how much your refund will be.

Deposit refunds typically take up to 60 days to process. If you were approved and submitted a security deposit, it will process in about 2-3 weeks. So try to wait at least that long before checking either status.

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Capital One Platinum Secured Approval and Delivery Time… read full answer

Getting approved for the Capital One Platinum Secured may be instant, but certain applications require further review, which can take 7 to 10 business days. So, at the very longest, it can take up to 5 weeks from applying to get your Capital One Platinum Secured card in the mail.

Unfortunately, new accounts aren’t eligible for express shipping on credit cards. But if you already have a Capital One Platinum Secured account and just need a replacement card, other delivery options may be available to you upon request.

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Can you convert the Capital One Platinum Secured Card to unsecured?

Yes, you can convert the Capital One Platinum Secured to unsecured. Capital One will periodically review your account for possible graduation. If your account is eligible, you will be notified by email. You can maximize your chances of converting your Capital One Platinum Secured to unsecured by using your credit card responsibly.

Here’s how to increase your chances of converting your Capital One Platinum Secured to unsecured:… read full answer

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.

Use your card responsibly. Maintaining low credit utilization will indicate to Capital One that you can handle an unsecured card. So, aim to use only 30% or less of your Capital One Platinum Secured’s limit.

Improve your other finances. Adding to your income and paying down debt will improve your creditworthiness as a whole, making you a better candidate for an unsecured card.

When your Capital One Platinum Secured graduates to unsecured, your credit line no longer needs to be secured with collateral. So, when you graduate, the initial deposit you made to open the secured card will be refunded. And you’ll also keep the good credit history you’ve earned with your Capital One Platinum Secured.

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