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New Member
Linear
Posts: 4
Registered: ‎05-24-2012

Capital One credit limit increases

[ Edited ]

     I have been reading this board for a while now. Figure I could share something. About seven months ago I applied for and received Capital One's cash rewards card. I was given a 300 dollar credit limit and put on the credit steps program. As long as I paid on time and didn't exceed my credit limit and on my seventh statement I would receive a 200 dollar CLI.

 

     I use that cc for my everyday cc because I have 0% interest and 5% cash back. So I was expecting a bump of 200 dollars to show my next statement (October would be month seven.) I'm up late working and I get what I thought was the standard email that I thought was my statement now being ready to view. I log into my account to see I was given a 1,000 CLI to 1,300 total. The email was to let me know I had a document which was a notice from Capital One stating the above.

 

     I really have no answer as to why the large increase on my first "step." I'm not complaining though, I earned it. I use it all the time and paid several times a month on it because of high use (why not, 5% cash back is OK with me.) I will say I don't know if I ever once paid in full. I always carried a small balance. So, there is some fresh data on Credit One steps program. They also gave me the 39 dollars back (credit to my account) that Orchard charged me when I opened my account with them.

Senior Contributor
bichonmom
Posts: 3,300
Registered: ‎05-05-2011

Re: Capital One credit limit increases

[ Edited ]

Linear wrote:

     I have been reading this board for a while now. Figure I could share something. About seven months ago I applied for and received Capital One's cash rewards card. I was given a 300 dollar credit limit and put on the credit steps program. As long as I paid on time and didn't exceed my credit limit and on my seventh statement I would receive a 200 dollar CLI.

 

     I use that cc for my everyday cc because I have 0% interest and 5% cash back. So I was expecting a bump of 200 dollars to show my next statement (October would be month seven.) I'm up late working and I get what I thought was the standard email that I thought was my statement now being ready to view. I log into my account to see I was given a 1,000 CLI to 1,300 total. The email was to let me know I had a document which was a notice from Capital One stating the above.

 

     I really have no answer as to why the large increase on my first "step." I'm not complaining though, I earned it. I use it all the time and paid several times a month on it because of high use (why not, 5% cash back is OK with me.) I will say I don't know if I ever once paid in full. I always carried a small balance. So, there is some fresh data on Credit One steps program. They also gave me the 39 dollars back (credit to my account) that Orchard charged me when I opened my account with them.


Consider yourself one of the lucky ones. Which card is this? I'm not aware of any Cap Ones that give 5% cash back, let alone in their step program. Might be worth 3 HPs for 5% cash back.

 

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EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Valued Contributor
maiden_girl
Posts: 1,736
Registered: ‎12-29-2011

Re: Capital One credit limit increases

It's probably not a true credit step card. CAPONE does not play around about their CLIs lol.

The truth is out there...
FICO scores: 724 (EQ) 709 (EX) 711 (TU) 4/14 | Goal scores: 750+ (all 3)
Tradelines: Capital One (5.0k) | Discover IT (5.0k) | Walmart Discover (3.0k) | Chase Freedom NPSL | Citi Simplicity (8.0k)
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New Member
Linear
Posts: 4
Registered: ‎05-24-2012

Re: Capital One credit limit increases

5% is a type O. Sorry about that, it's late but it is 1% on regular and 2% travel. Yes, this is for the steps program though.

New Member
Linear
Posts: 4
Registered: ‎05-24-2012

Re: Capital One credit limit increases

Here is the document to me on the day I opened my account. All private information of mine has been removed. It's the best I can do to prove what I am saying -

 

Dear "ME"

 

Welcome to Capital One! ®Your Welcome Kit informed you of your initial credit limit, but as a Capital One Preferred
cardholder, you have been pre-qualified for a $500 credit line with Capital One Credit StepsSM. This is an automatic
service for new customers and an easy way to achieve more buying power. Simply follow these two steps:
1. Use your card at least once.
2. Make your first 5 monthly payments on time.
That's it. Just complete these two steps and you could automatically get access to your pre-qualified credit line of $500 by
your 7
th
statement. That's how easy it is to get the extra power you need to fill up your gas tank, buy groceries, dine out...
or just treat yourself!
Credit Steps is another No Hassle way to take control of your financial future. If you have any questions about your
account, please call Customer Service anytime at 1-800-955-7070 or visit us online at www.capitalone.com.
Sincerely,
P. Taylor Jamison
Director of Accounts
P.S. Just remember, all it takes is two simple steps to receive a total pre-qualified credit line of $500. Get started today!

 

 

 

Here is the document I received the other night again with all personal details removed -

 

You've earned a credit line increase of $1,000.00!

 

Dear "ME"

 

You're a great customer, and we appreciate you. That's why we're happy to give
you a credit line increase - you deserve it!
Your new credit line is $1,300.00.
That's an increase of $1,000.00.
Use your increase to help pay for daily expenses, or for that family trip you've
been thinking about. You can also transfer balances from higher rate credit cards.
Whatever your needs, it's nice to know you have more financial flexibility.
The increase is automatic, so you don't have to do anything at all. Just enjoy it!
Sincerely,
P. Taylor Jamison
Director of Accounts
P.S. If you're not interested in taking advantage of the increase please call the
Customer Service number on the back of your card to request that your line be
returned to its original amount.

Frequent Contributor
mtrsprt
Posts: 280
Registered: ‎07-27-2011

Re: Capital One credit limit increases

Not sure why, but Cap 1 Cash Rewards card holders seem to get the most CLI's, and LARGEST CLI's out of any other card they are backed by...

 

A 20 year old at work has had his Cap 1 Cash Rewards card for 8 months.  He barely used it about 4 times.  They just raised his limit up another $1000.00........

 

I was like..."ummmmmmm WTH??????"

 


Starting Score: 521 TU, 597 EQ, 574 EX on 6/20/2011
Current Score: 680 TU, 676 EQ, 690 EX on 8/20/2013
Goal Score: 720-740 Across the board


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Regular Contributor
asteroidblues86
Posts: 233
Registered: ‎08-04-2012

Re: Capital One credit limit increases

Nice increase. It's refreshing to read a positive post about Capital One.

Established Contributor
migliogiorni
Posts: 657
Registered: ‎06-27-2012

Re: Capital One credit limit increases

Certainly is, maybe it's a sign that Cap 1 is changing their way *prays to the credit gods for a cli*

 

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CSP: 5k
Discover: 5k
Citi TY Preferd: 5k
Wally: 5k
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citiForward: 4.7k
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Regular Contributor
somotao
Posts: 187
Registered: ‎08-13-2011

Re: Capital One credit limit increases

Congrats.....that is a nice CLI increase you have there


Starting Score: 500s
Current Score: EQ: 680myFICO(9/7/12), TU: 689myFICO(9/2/12), EX Plus:701(lp,4/16/12)
Goal Score: 700

Wallet: Discover More 2k, Capital One Platinum 7.5K, Barclays Apple Finance Visa 2.7k.
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Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012

Re: Capital One credit limit increases

Congrats


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