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    Capital One - Rebuilding credit cards

    I've been fielding a few questions lately with regards to people trying to upgrade their limits with a Apply Today! Capital One secured credit card

    One person said they had a Capital One secured card for six months, and have kept it up perfectly so far. He tried to get a credit increase but was denied.
    One person said they have had a Capital One "credit rebuilder" card for a year now, and hasn't been able to get a credit increase, even though he has contacted Capital One several times.

    I have made some initial inquiries into this matter. I am going to contact customer service at Capital One today to get some more information from them.

    My initial gut feeling is this...
    If you're using your credit card every month and paying it as agreed every month, you're building your credit rating with Capital One (or any other credit card company ).

    The credit card company may want to see how you do with their secured card for one year or so to develop some history. They may also have other factors that they look at in order to make a decision about adjusting your credit limit.

    These are all good questions, and I hope to get them answered by today or tomorrow.

    Ultimately, a Capital One secured credit card will report your good activity to Equifax and TransUnion each month. This will help build your credit score on the over all.

    Get a Apply Today! Capital One secured credit card


 
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2 Comments
On May 18, 2009, Peter Wood Said:
I have had a Capital One secured card,for 17.5 Months.Never a problem.....They have never offered me an unsecured card,even though,I have credit limit,of 2000,but only have secured fees of 300.-They have never contacted me,or sent back my money.Next week,I think I will check Canadian Banks,
On Jan 9, 2008, bogey Said:
from the a above post; "These are all good questions, and I hope to get them answered by today or tomorrow."

Could you also ask them how they deal with NON-secured, low limit cards and ask how they decide on increases in credit limits.

thanks
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