Works exceptionally well!!
So I promised myself I would add a review if things worked out well for me, and they did! I started with this card with virtually no credit score. I was approved for a $200 credit limit with no money down. However, I added additional money to give myself a higher limit. So I am near the six month mark and ck shows I have a score of EF 683 and TU 684. However, this was grossly off. When I was alerted I have a new FICO score from my bank, upon viewing it, my score was 747. Wow! So it took me a few days to make a decision of applying for a new card. I’m very mindful of how to use my credit after working so hard for it. I want to diversify my credit so I have to space out my credit applications. This is mostly for big purchases such as a home, car, etc... Generally, I will wait 6 months in between credit dings. So I applied for an Amex and I was approved! I’m very excited to say the least.
I accomplished this by always allowing my statement balance to close and be reported at 1% utilization rate. After my statement balance closes, the very next day I pay off that 1%. So when the due date comes around to pay off my balance. I don’t have one! Also, pay multiple times per month just to keep your bill low. Just ensure your statement balance close at anything below 10% utilization. 1% is the most optimal range.
Just wait, be patient, and vigilant and good things will come. Follow those rules and you will have amazing credit. Everything else comes with more time, higher limits, score increases = lower interest rates!
So far so good. Its great
It gives me hope for my overall credit
It's great!
You can add money to the card & make payments at any capital one bank. Money available immediately. They will pay your bill & increase your limit in 3-6 months if you pay on time. Even if you get interest fees. You can still make payments at a ATM
Great option for building/repairing edit
I've had the secured platinum card for three months now. Had to pay the full $200 deposit but that was ok with me cause I just wanted to work on fixing my credit. I knew I had to "pay for" my mistakes with my poor credit. Took maybe a month to get approved and get my card if I remember correctly. Wasn't too complicated or difficult. I haven't had it long enough to know if I'll get my deposit back (many reciews say they got their deposit back and a limit increase after six months of on time payments). I've made all my payments on time and pay it off in FULL. Between this card, kewping tracj of my score on credit karma and paying off debts I've raised my score by almost 200 pts in about six months. Was in the low 400's and am now in the low 600's in both credit karma and the capital one app. Although my fico score is mid 500's. I've had zero isssues with thia card so far and I'll update after its been six months. See if I get my deposit back and a credit limit increase.
Love this card!
I started with a limit of $500 and got an increase after making payments on time consistently. Great card for rebuilding credit. They stuck by me when I was having trouble making on-time payments. Love this card
Great
I ended up applying and being approved for this card in July of 2019. I did have to pay the higher end and had a credit limit of $200. In December my credit limit increased. My score has gone from low to mid 400s to low 600s. This has been a great card for building my credit.
Dont count on credit line increases
I've had the card for 2 years. Never missed a payment, sometimes completly pay it off . I've never had an increase in my $300 limit. I called and asked about it and was told they dont offer increases. And I should apply for their unsecured card if I want more credit.
You don't get a Credit limit increase on secured cards
When you apply for the secured card. If you read the details, it states that it does in fact give increases if you make 5 payments on times. It does not specify if they need to be in full or the minimum payment.
Great for rebuilding
I started with this card 16 months ago with $99 deposit for a $200 limit and a score of 520. After 6 months of on time payments they increased my limit to $500. I applied for the platinum card and was approved for $200 and after another 6 months it was upgraded to the Quick Silver and an increase to $700. My scores as of today are in the high 700's and just got approved for the Savor card. Thank you Capital One.
How much do you spend off your card every month
Avg bout $1000 a month
Have you been paying off your balance in full each month? If not, what percentage do you pay of your balance due?
Do you have any debt or collections on credit report & if you do are those at least in time?
Raised my credit in 4 months!
This card is amazing. Ive made some bad choices therefor i have a not so great credit score. This card helped raise it and cant wait for my credit increase next month! I also love the app and everytime my card is used it notifies me.
Avoid as much as possible, they have ruin my credit rate . After I got it used it one month paid twice of what I was supposed to pay . Never able to use it again . They file negative report weekly, there is other credit card out there who won't abuse you in such poor manner.
That makes no sense that they would report negative if you made your payments.
No issues. Low deposit. Reports monthly.
Reported to credit three months after opening account. No hidden fees so far. Haven't recieved deposit refund. No rewards or perks accept payment history.
You only receive your deposit back when you close your account.