I recently received a letter from Cap1 regarding my secured card, and how cap1 will no longer be offering the option to make additional security deposits to increase the credit limit. The “What if I want a higher credit limit” section is interesting. It states:
“Even though you will no longer be abe to make additional deposits, you may receive a higher credit limit, in the future, based on your payment history and creditworthiness”
I know they have been able to increase the limit without an addition deposit, but now they don’t give the customer the option to deposit more funds. Does anyone think it will eventually become a graduating card?