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My first statement just cut on both my Platinum and Quick Silver cards.
I then got an email that I am "on my way to a credit line increase" and it said in 5 months my CL can be increased from $300 to $500.
It seems like the typical credit steps increase is $500 (so $300 to $800). Is this just a generic message?
So far I've been charging day to day stuff and pif at the end of the week.
Cap 1 is to say the least really a strange bird. They seem to be liberal in helping people restablish themselves and the credit steps program is a good incentitive........I dumped them last year because of high interest and AF........got back in a few mos ago and my first CLI was through the credit steps program got a 500 CLI on a platinum card and QS card after 6 mos. I closed the platinum and transferred the CL to the QS.
To me Cap 1 is stingy with CLI's..........My FICO's TU 728, TU 762, EX 759......utilization is 6-8%.......haven't been able to get CLI. I think they often issue cards with AF and keep the holder hoping for a big CLI while draining with the AF.
@ecxpa wrote:Cap 1 is to say the least really a strange bird. They seem to be liberal in helping people restablish themselves and the credit steps program is a good incentitive........I dumped them last year because of high interest and AF........got back in a few mos ago and my first CLI was through the credit steps program got a 500 CLI on a platinum card and QS card after 6 mos. I closed the platinum and transferred the CL to the QS.
To me Cap 1 is stingy with CLI's..........My FICO's TU 728, TU 762, EX 759......utilization is 6-8%.......haven't been able to get CLI. I think they often issue cards with AF and keep the holder hoping for a big CLI while draining with the AF.
They are definitely weird. I got a Platinum and was PIF multiple times a month (sometimes multiple times a week since it was only a $500 limit card). After one statement, I PCed to the no AF Quicksilver. My scores have gone up about 40 or so points since I got it (see my signature). But after 4.5 statements (a couple weeks after my fourth statement cut), I got a CLI of $4500 for a total CL of $5000! So very strange. I'm not obsessive about my official utilization but I try to keep it around 10%. I was basically maxing the card out multiple times a month though with the old CL. Now with my newer Platinum--->Quicksilver, I am trying the same thing. It has had 3 statements cut and the luv button message last time told me that CLIs are not available as I'm being evaluated on my other card at the credit limit I have. Kind of random as far as reasons go too.
@Creditdreamer wrote:
@ecxpa wrote:Cap 1 is to say the least really a strange bird. They seem to be liberal in helping people restablish themselves and the credit steps program is a good incentitive........I dumped them last year because of high interest and AF........got back in a few mos ago and my first CLI was through the credit steps program got a 500 CLI on a platinum card and QS card after 6 mos. I closed the platinum and transferred the CL to the QS.
To me Cap 1 is stingy with CLI's..........My FICO's TU 728, TU 762, EX 759......utilization is 6-8%.......haven't been able to get CLI. I think they often issue cards with AF and keep the holder hoping for a big CLI while draining with the AF.
They are definitely weird. I got a Platinum and was PIF multiple times a month (sometimes multiple times a week since it was only a $500 limit card). After one statement, I PCed to the no AF Quicksilver. My scores have gone up about 40 or so points since I got it (see my signature). But after 4.5 statements (a couple weeks after my fourth statement cut), I got a CLI of $4500 for a total CL of $5000! So very strange. I'm not obsessive about my official utilization but I try to keep it around 10%. I was basically maxing the card out multiple times a month though with the old CL. Now with my newer Platinum--->Quicksilver, I am trying the same thing. It has had 3 statements cut and the luv button message last time told me that CLIs are not available as I'm being evaluated on my other card at the credit limit I have. Kind of random as far as reasons go too.
In order to PC the platinum to the no AF QS, do you have to have a 0 balance and 0 pending transactions?
My wifes first statement just cut and I have tried to PC her Platinum and no luck. The only thing I can think of other than YMMV is that theres a balance. I remember reading somewhere that someone said you cant PC a card with a balance or pending transactions? Was yours at 0 when you PCd?
I didn't have a 0 balance or 0 pending transactions. I have actually done this 3 times so far. First time was my platinum after the first statement cut. Then I did it with my second platinum after the second statement cut (i tried after the first statement cut and they wouldn't do it) and then again for my fiance's platinum after the second statement cut. I think it really just depends.
@Creditdreamer wrote:I didn't have a 0 balance or 0 pending transactions. I have actually done this 3 times so far. First time was my platinum after the first statement cut. Then I did it with my second platinum after the second statement cut (i tried after the first statement cut and they wouldn't do it) and then again for my fiance's platinum after the second statement cut. I think it really just depends.
Yeah, I thought so. I'm going to try again in a month or so. Her second statement will have cut by then. Thanks!