Capital One Secured Cards Can No Longer Have Funds Added To Increase Credit Limit

Capital One secured card holders recently received a letter (below) informing them as of January 19th, 2016 they will no longer be able to add funds to their security deposit to increase their credit limit. They went on to say that if you want a higher limit you might be automatically selected for a credit limit increase based on your credit history and credit worthiness.

capital one secured cards

I don’t think Capital One offers a compelling secured credit card product, the reasons are clearly outlined in our detailed review of this card. It’s always an advantage to be able to add funds to increase your credit limit, Capital One are saying that the reason for this change is because they want to provide automatic credit limit increases and basically turned these changes into partially secured cards. The problem is that they could have done this without the removing the option of adding funds to increase your limit.

If you have bad credit and are considering a secured credit card, I’d strongly recommend you look at our list of the best secured credit cards so you don’t get slugged with high annual fees and other miscellaneous charges and extras.

Hat tip to Jeff L

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Carlos
Carlos (@guest_203006)
November 27, 2015 15:30

My point was Cap 1 is very stingy on CL increases.
Tried writing to the CEO as posted in another thread and that was ignored.

Carlos
Carlos (@guest_203005)
November 27, 2015 15:29

Capitol 1 is full of it.
I have the quick silver and the Venture and can not get a CL increase with a 820 Credit score.
I have had both these cards for 10 years and im done with them.
I will keep them open as they are one of my oldest ages.
But I will no longer use these worthless cards.