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Senior Contributor
Wonderin
Posts: 3,494
Registered: ‎05-25-2008
0

Cap One Credit Steps??

Hubby has the Plat MC with a $1K CL, which I assume is subprime. So I was wondering ... why he's not gotten the Credit Steps spiel from them yet?

He's had his card now for a bit less than a month, BUT we've already gotten the check thingies in the mail. I would have thought the Credit Steps package would have come by now.

Anyone have an idea on what's up????

TIA!! :smileyhappy:

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Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

Regular Contributor
Justn
Posts: 200
Registered: ‎06-19-2008
0

Re: Cap One Credit Steps??

Mine came with my first statement in a separate envelope.

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Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007
0

Re: Cap One Credit Steps??

I got my letter about Credit Steps in the mail about the time I got my first statement in the mail, if I recall correctly.

However, we can be optimistic and hope that maybe it is one of the prime Capital One cards!
Here we go again...
Senior Contributor
UpUpUp
Posts: 3,017
Registered: ‎06-03-2008
0

Re: Cap One Credit Steps??



FretlessMayhem wrote:

However, we can be optimistic and hope that maybe it is one of the prime Capital One cards!

BF just got a Cap One with $1K starting CL as well. How can we tell if it's the prime or sub-prime?
 
I told him to be on the look out for credit steps too, but could $1K actually be one of their prime cards?
 
Here are the terms I remember...$29 AF (due to rewards card, he'll push a lot through it so it should be worth it), 0% interest until Dec. 2008 and I think it was 16.something% after that.
 

 
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: Cap One Credit Steps??



UpUpUp wrote:


FretlessMayhem wrote:

However, we can be optimistic and hope that maybe it is one of the prime Capital One cards!

BF just got a Cap One with $1K starting CL as well. How can we tell if it's the prime or sub-prime?
 
I told him to be on the look out for credit steps too, but could $1K actually be one of their prime cards?
 
Here are the terms I remember...$29 AF (due to rewards card, he'll push a lot through it so it should be worth it), 0% interest until Dec. 2008 and I think it was 16.something% after that.
 

 



This sounds like a rebuilder card, mostly due to the AF.  Are there rewards on his card?  All Cap1 rebuilder cards come with AFs, but on the prime level, only their better rewards cards have AFs.  My No Hassle Cash card also has a $29 AF and 0% for 12 months, and it's definitely a rebuilder card.  Took me almost a year to get from $300 to $1K, and I only managed that by telling them to close my account.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Moderator Emeritus
WhirledPeasPlease
Posts: 3,417
Registered: ‎12-27-2007
0

Re: Cap One Credit Steps??

I spent a few days trying to figure out what kind of Cap1 card I have.  It started at 3k, ended up at 4.25k w/in 3 months (750 CLI, 500 w/ Credit Steps), but has a $19 AF.
 
I think I like Cheddar's explanation -- if it has an AF, it's a rebuilder.  I can live with that.
 
My card has already been retired (by me).  Great intro rate of 0, but right now its only purpose is for keeping my util in check.  Well, maybe I need to take it out for a cheap dinner soon.  LOL.
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
Senior Contributor
UpUpUp
Posts: 3,017
Registered: ‎06-03-2008
0

Re: Cap One Credit Steps??



cheddar wrote:



This sounds like a rebuilder card, mostly due to the AF.  Are there rewards on his card?  All Cap1 rebuilder cards come with AFs, but on the prime level, only their better rewards cards have AFs.  My No Hassle Cash card also has a $29 AF and 0% for 12 months, and it's definitely a rebuilder card.  Took me almost a year to get from $300 to $1K, and I only managed that by telling them to close my account.
 


On his card the annual fee is because it is a rewards card. The 0% is only through December
though,he just got the card and they said it was through Dec 2008. They started him at $1K which I was happy with. That's what confuses me, I wasn't sure if he got a crap limit on a prime card, or a decent limit on a rebuilder...
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: Cap One Credit Steps??



UpUpUp wrote:


cheddar wrote:



This sounds like a rebuilder card, mostly due to the AF.  Are there rewards on his card?  All Cap1 rebuilder cards come with AFs, but on the prime level, only their better rewards cards have AFs.  My No Hassle Cash card also has a $29 AF and 0% for 12 months, and it's definitely a rebuilder card.  Took me almost a year to get from $300 to $1K, and I only managed that by telling them to close my account.
 


On his card the annual fee is because it is a rewards card. The 0% is only through December
though,he just got the card and they said it was through Dec 2008. They started him at $1K which I was happy with. That's what confuses me, I wasn't sure if he got a crap limit on a prime card, or a decent limit on a rebuilder...



This page...
 
 
...shows all the Cap1 cards along with their current terms and "credit levels."
 
The only cards with the characteristics you described are in the "Limited" and "Average" credit rating categories.  This is a "less-than-prime" Cap1 card, but it's a good starting limit.  Since he started with $1K instead of the standard $300, I think the odds are good that he got the "Average" version rather than the "Limited" one.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Senior Contributor
UpUpUp
Posts: 3,017
Registered: ‎06-03-2008
0

Re: Cap One Credit Steps??

[ Edited ]
Awesome, thanks Cheddar. I think he either has the No Hassle Points Rewards or the No Hassle Cash Rewards. I didn't pay much attention to the rewards program, but all the terms of those two are the same as what he was offered. 
 
I must go let him know how "average" he is...Gotta keep the head from getting too inflated. hehe.

I wonder now how this card will be at getting CLI?

Message Edited by UpUpUp on 08-10-2008 12:10 PM

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