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When I initially applied for the card about 2 years ago I was told that my payment history would be reviewed after 18 months. If at that time I had no late payments my account would be changed to the No Hassle unsecured credit card. Since then it seems that the policy has change. Now I’m being told something different. Don’t get me wrong, Capital One is a good credit card to have, but the only reason I applied was because of the benefit of having it convert to a unsecured credit card. I will give it another 6-9 months, if it has not changed to the unsecured card then I will pay the remaining balance and close the account .
I’ve had great success with “pay for deletes.” Probably about a 80% success rate. It’s been my experience that collection agencies as well as creditors are more than happy to clear any debts from their books, especially if it means collecting the full amount of the debt instead of a decreased settlement amount.
Most creditors are willing to work with you whether you make payments or pay the amounts in full. Amount of course based on your financial situation.
