Capital One Secured Cards

Hi all, it's been great reading up and learning so many things on this forum about getting your credit back into shape. My only wish was getting to this forum before making a couple of recent mistakes that I should have known better but you live and learn.  So currently I have 2 Capital One secured cards; one is a HSBC Orchard Bank card that transitioned once Cap One bought out their credit card portfolio. My current limit on the Cap One card is $700 (initial limit was $300 until I added $400 to increase the limit late last year) and $300 on the converted Orchard Bank card. The last time I had a late payment on both accounts was back in October of last year. Since then I've made my payments on time and always more than the minimum.  I know from reading in this forum these cards don't graduate and although Cap One offers the account combination link when I sign in, I think I saw someone state it doesn't work with secured cards. For the heck of it I did request a credit limit increase on both accounts and one letter I received stated that I can't initiate credit limit increases on secured cards and the other letter said one or more of my accounts was recently 60 days past due. I also spoke to a rep and asked how many Cap One cards I can have (including branded) I believe she said 5 but when I did the prequal and the Platinum came up I applied for it and then got a letter stating that I couldn't have more than 2 cards. For the Cap One veterans am I just stuck with these 2 cards with no hope of getting a larger credit line (I know there is a cap to it) or getting an unsecured card? I was figuring maybe if I closed out one of them then maybe I can reapply for an unsecured card? Thanks for your time.

mtzion30 wrote:
That is a great question core; speaking for myself I would say it's just my inexperience. By no means do I want every Capital One card they have, I was just trying to figure out what to do with these two cards and maybe at least get one unsecured card from them.Keep going to the well, keep getting the same poisoned water.  That's what we say in Texas. I understand, it's kind of a security thing.  Well if I were you I'd bust out and apply for something _other_ than Capital One.  If a mortgage writer looks at your file and sees 3 Cap One accounts and nothing else, what's he going to think?  He might think you're mentally ill and decline the mortgage.  I think 3 Cap One accounts is grounds for state-funded looney farm in some states.  You want a "travel" card, there you go. I don't know anything about your credit profile, but if  you're still in the secured market you might want to check out this helpful list:  Get one that will unsecure and grow with you.  But really, FICO doesn't know about secured cards so it doesn't affect your score anyway.  It's a card like any other.  And some are SP.  I'll take one of those SPs anyday over a triple HP and raised eyebrows from the mortgage lender from having 3 Cap One accounts and nothing else.

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