I'm new and my journey with Capital One Secured Card

[guardmom]

Hi I’m new to the forum!

I applied for the Capital One Secured Mastercard! Don’t know credit score when I applied (sorry)

I applied for the card on 10/19/2011 got the message $49 deposit $200 limit!

Sent my deposit on 10/21/201.

Took my deposit out of bank on 10/25/201.

Just got my letter saying I was approved! Yay

But I also got this email just about a hour ago:

Pamela

Congratulations! We recently approved you for a Capital One® Secured MasterCard. You are just one step away from getting your card. Now you just need to make your fully refundable security deposit.

Complete your deposit online or by calling 1-800-219-7931 within the next 72 days.

If you recently made your full deposit, please accept our thanks. We will mail your card within 2–3 weeks.

Remember, your new card reports automatically to the three credit bureaus, provides free enrollment in CreditInform®*, and brings you opportunities to earn credit line increases with responsible use. More information will be included in your welcome kit, which you’ll receive after you fund your card.

I was wondering if the time line is right? I was reading where some of you guys got the message would be sent in about 7-10 days. Sorry .

[guardmom]

I’m soooooooooooooooooooo sorry I put this in the wrong thread! My bad! My son was talking and I was listening to him and not paying attention to what I was doing. Again so sorry!

[fontanaman]

Welcome to the forums guardmom,

Don’t worry about it, I have deleted your other post so no harm done

Congratulations on your card! I guess they’re a little busier now at Capital One (maybe it’s all those good reviews they’ve been getting on this site, lol). If they told you it’ll take 2-3 weeks then it’l probably be that long, but it could be less than that I suppose.

Are you trying to rebuild or establish credit? Please don’t forget to come back and report your progress with the card. We are not credit experts but do learn a lot from each other’s input

[Amy]

Hi, guardmom! Welcome, and congrats on getting approved for the card! I see you were on my message thread before, but no worries.

They will mail your card 2-3 weeks after the deposit comes out of your bank account. You’d think they would receive your deposit and process it soon after it comes out of the account, but apparently they need to receive AND process your deposit (post it to your secured card account) before they mail the card. That 2-3 weeks is the processing time. After that, they will e-mail you to notify the card has been shipped out. You’ll receive the card within 7 business days after it is shipped.

I got the card about a month ago, and my wait time was about a month (I applied in August). I called them 3 weeks after I sent in my deposit because I was getting impatient, and they said they were experiencing delays. So maybe they are still getting a lot of new applications and need extra time to process.

[melanie]

Congratulations…we have the same journey I’m new too for capital one secured mastercard…I received my card after 2 weeks:)

[guardmom]

Hi guys and thanks for the welcome! And yes trying to improve my credit. I have a Orchard Bank Mastercard and a Dillards card. But that is about it! I pay them off when I can, but I haven’t been able to lately. But I pay on time and more then what is due. I’m looking forward to getting my card and I’m just going to use it for Christmas (buy a couple things here and there) pay it off and use it again. And that is about it. Lol

[fontanaman]

Sounds like a good plan. Remember not to use more that 30% of your available credit at any given time as this will lower your credit score.

Are you interested in entering today’s giveaway? You’re almost there to qualify. Just respond to at least 1 post written by another member of the forums and add your name to the following thread stating that you want to enter the contest and that you have fullfiled all requirements.: http://www.newdirt.org/forums/topic.php?id=11

[guardmom]

Hi guys! Still haven’t got the email about my card. Just waiting patiently for it. Again thanks for the welcomes, its nice to talk to other people who are in the same boat as me. Will get back on and let everyone know when I get the email about my card or the card its self. Everyone have a great weekend! Pamela

[guardmom]

Hi still haven’t heard anything and I keep getting the email saying to pay the 49.00 dollar deposit ( already have on the 25 of Oct.). And it says if you already paid the deposit your card should be there in 2 to 3 weeks. Sorry just anxious to get it. Hope everyone had a great weekend.

[Amy]

Hey guardmom,

As I’ve said in my post before, the Cap One secured card process takes a long time. They may be still experiencing delays as this card is very popular. Also, do not start counting the days from when your deposit clears out of your bank account. Capital One still has to “post” the deposit to your secured card account, which in itself takes about 2 weeks. This whole process is really slow, and overall, you should receive the card about 4 weeks (I’d say this is a safe timeframe, it may be sooner for you) after your deposit clears out of your bank account.

[guardmom]

Thanks Amy! Just a little anxious to get it.

[Amy]

I know exactly how you feel! I felt so anxious that I called them after waiting for 3 weeks and that was when they told me about the delay they’re experiencing. Right now, I am super anxious to see my Capital One secured card account report as “opened” on my credit reports since that’s the only way this card can work for me. I’ve had the card for about a month now, but they said it can take 60 days before it shows up in my reports. Very anxious about this.

[guardmom]

Your new credit card is on its way

Re: Account ending in xxxx

Pamela

Your new credit card was mailed yesterday, and you should receive it within 7 business days.

Thanks for being a Capital One® customer.

So happy!! Thanks guys for being patient with me.

[fontanaman]

Great news! Keep us posted.

[blackcat]

Hi there all. Had to change handle,having trouble logging in on old one, prolly used wrong pw. Anyway had cap one secured card since august and am quite happy with it. I got an offer for an unsecured card from bank one for $300. Took that. One month later they raised it to $400. Wow. Done for a while with new cards. No more inquiries for a bit. Hoping score goes up. 550 credit karma, 612 equifax . Seems like a big difference to me.

[Author]

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