Thanks for sharing Adam.
Any account in good standing will remain on your credit report for 10 years after the closing date. Having said that and taking into consideration that everybody here seems to be getting different answers from Capital One regarding their secured card, I would not take this CapOne rep too seriously when he said ” All the points which you have earned on your Secured card will be transferred to your normal card…your points and credit history will be converted into your new account.” In fact, this doesn’t make sense to me.
The fact that you have to close your secured card and apply for a new one tells me that they will appear as two different accounts on your credit report (one closed, one open). Maybe what this person meant to say was that, your secured card history will remain on your report and will stay there in good standing for a number of years, which is true.
Now, closing your secured card and applying for a new one with Capital One will not necessarily harm your credit. Some people have done it and seem happy about it. In my case, this is my oldest open account (I know yours too), so if I close it right now, I’m afraid it will affect my credit and I don’t want to risk it. I rather wait another year or so when my other card grows older to close it.