Cap One Credit Steps

[stoopidmunkee]

Is anyone familiar with Capital Ones credit step program?  Does anyone know how often credit limit incase are applied to accounts.  I've tried chatting with an online rep and it wasn't to helpful in my opinion. 

[Anonymous]

I've heard there are 2 different "Credit Steps" programs, one of which is actually only one step and the other at least two steps.

A lot of people are getting the guaranteed $500 to $750 credit step at 5-6 months, and then no more guaranteed credit steps. Accounts are automatically reviewed semi-annually but there is no guarantee of a CLI.

I've also heard of $300 to $500 to $750 in 1 year, which I guess would be a two step program.

Some people also report being stuck at $750 for a long time, then one day their CL miraculously jumps to the $1000-3000 range.

[stoopidmunkee]

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@Anonymous wrote:

I've heard there are 2 different "Credit Steps" programs, one of which is actually only one step and the other at least two steps.

A lot of people are getting the guaranteed $500 to $750 credit step at 5-6 months, and then no more guaranteed credit steps. Accounts are automatically reviewed semi-annually but there is no guarantee of a CLI.

I've also heard of $300 to $500 to $750 in 1 year, which I guess would be a two step program.

Some people also report being stuck at $750 for a long time, then one day their CL miraculously jumps to the $1000-3000 range.

---

I have two cards with them one I got back in 2010 and it started with a $300 limit and then after 5 months it went to $500.  The rep I talked to via their web chat was like the accounts are reviewed yearly for CLI increases...I haven't gotten one and it will be two years in a few months.  --also I have a AU on this card would that also mess up my chances of getting a CLI?---

The second card with I got back in 2011 started out with $500 and five months later it moved to $750 this card has the cash rewards program.

I'm just wondering when it will increase so my utilization is at a lower percent.

[bichonmom]

You have to be offered the credit steps program. It isn't automatic with all of their rebuilders. The program they offer out depends on what you qualify for with them and what they decide to offer you. Some have 2 steps (1 cli) and sime have 3 steps (2cli). The length of time between steps also depends on what they offer you. There is no one size fits all with their credit steps program. The one thing that you can count in though is that the CL will in all likelihood cap out at the last step, and you won't see it grow with you beyond that. It's a good starter/rebuilder card, but not more than that.

[stoopidmunkee]

That's good to know that I may be sitting at these limits for a while ha.  I know I won't be closing this accounts anytime soon since my age of credit isn't very long so I'm just trying to figure out ways to help boost my score.  

[bichonmom]

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@stoopidmunkee wrote:

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@Anonymous wrote:

I've heard there are 2 different "Credit Steps" programs, one of which is actually only one step and the other at least two steps.

A lot of people are getting the guaranteed $500 to $750 credit step at 5-6 months, and then no more guaranteed credit steps. Accounts are automatically reviewed semi-annually but there is no guarantee of a CLI.

I've also heard of $300 to $500 to $750 in 1 year, which I guess would be a two step program.

Some people also report being stuck at $750 for a long time, then one day their CL miraculously jumps to the $1000-3000 range.

---

I have two cards with them one I got back in 2010 and it started with a $300 limit and then after 5 months it went to $500.  The rep I talked to via their web chat was like the accounts are reviewed yearly for CLI increases...I haven't gotten one and it will be two years in a few months.  --also I have a AU on this card would that also mess up my chances of getting a CLI?---

The second card with I got back in 2011 started out with $500 and five months later it moved to $750 this card has the cash rewards program.

I'm just wondering when it will increase so my utilization is at a lower percent.

---

If you pay down your CCs, so you only have a bal of less than 9% report on only ONE CC, you'll see an increase in your scores. You've had a cc since 2010, so you should be able to get a better cc, assuming you have no baddies.

I'd do that, then pull your EQ FICO and see what ou have. I'd say you should be able to qualify for a barclays, and some others. Your sig shows cr pull from a cu. Have you talked with them about a cc?

I've seen people post here with only one or two CCs with low limits and pretty good scores, then getting prime CCs. It's probably your util thats tanking your score, unless you have baddies on there.

[stoopidmunkee]

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@bichonmom wrote:

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@stoopidmunkee wrote:

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@Anonymous wrote:

I've heard there are 2 different "Credit Steps" programs, one of which is actually only one step and the other at least two steps.

A lot of people are getting the guaranteed $500 to $750 credit step at 5-6 months, and then no more guaranteed credit steps. Accounts are automatically reviewed semi-annually but there is no guarantee of a CLI.

I've also heard of $300 to $500 to $750 in 1 year, which I guess would be a two step program.

Some people also report being stuck at $750 for a long time, then one day their CL miraculously jumps to the $1000-3000 range.

---

I have two cards with them one I got back in 2010 and it started with a $300 limit and then after 5 months it went to $500.  The rep I talked to via their web chat was like the accounts are reviewed yearly for CLI increases...I haven't gotten one and it will be two years in a few months.  --also I have a AU on this card would that also mess up my chances of getting a CLI?---

The second card with I got back in 2011 started out with $500 and five months later it moved to $750 this card has the cash rewards program.

I'm just wondering when it will increase so my utilization is at a lower percent.

---

If you pay down your CCs, so you only have a bal of less than 9% report on only ONE CC, you'll see an increase in your scores. You've had a cc since 2010, so you should be able to get a better cc, assuming you have no baddies.

I'd do that, then pull your EQ FICO and see what ou have. I'd say you should be able to qualify for a barclays, and some others. Your sig shows cr pull from a cu. Have you talked with them about a cc?

I've seen people post here with only one or two CCs with low limits and pretty good scores, then getting prime CCs. It's probably your util that's tanking your score, unless you have baddies on there.

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I had recently went to my CU to get a refi on my car since I'm currently paying 19.98% on a car and they said they could give a 5.99%, but wasn't able to approve it from what they got off my TU scores.  He let me look at my report and I didn't have anything bad on there, just high credit limits on my cards which was close to 87% which is high I know, but those lovely holidays get you, which I just recently got them down to about 42% and I'm still working on them.  I might try and see about a credit card later, but I'm just not sure what to do.

I know I shouldn't have, but I just tried to apply for a discover card to see if I could at least get another $500 card and just have that sitting to help my utilization like I said and I was just declined with a 660 on my TUs, but their reasoning is showing delinquency on my CR which I don't have any on TU based off what I pull on here and what little I get off credit karma.

[bichonmom]

You're not going to be approved for CCs with such high util. You'll be amazed at how much our score will go up when you've paid down our util. You could end up in the high 600s. Then you'll be able to get a good cc with a decent CL. But no one is going to give you a cc if it looks like you need it and are so close to your CL, even if you only have low limit CCs.

[stoopidmunkee]

Thanks for the advice.  It's all just frustrating, but I know I'll get this all organized and resolved soon.  I just need to remember none of this stuff happens over night.

[Smug]

Mine went from 300 to 500 and never a penny more I have 10k cards for gosh sake.... I closed it last month...and it felt great!