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rans0m00

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Reduce credit limit on a secured credit card.
I have a capital one secured credit card. Originally they gave me 400 for a credit limit with a 200 deposit. A couple of years have passed and my credit is good enough to get non secured cards. Over time I raised the limit on my secured card to 1300 so roughly 900 in deposits. I currently owe 400 on the card and what I am wondering since I don't want to close the card but also I don't want to pay off the card... What I want to do is withdraw the money I have deposited and pay off the balance. Since I have newer cards with lower interest rates I won't use that card much. The only reason I want to keep it is that's where my credit started so it's my oldest line of credit. If I close it the all I have is 6 months of credit history. What I am wanting to do... Is this a possibility.?

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The only way to find out is to contact the secured card company and see if you can lower your deposit/limit to get some of that money out of the deposit.  Perhaps they'd be willing to move that card from secured to unsecured?  Worth a shot.  Best of luck.

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