Cap1 Credit Steps CLI

[Anonymous]

My 6th Statement cut on Jan-15.  And with it came my bump from $500 to $750.  I'll keep using the card as I have been, for gas purchases.  Let's see if there are more increases to come by continung to follow the steps.  Seems to be a coin toss on this card. 

[pizzadude]

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@Anonymous wrote:

My 6th Statement cut on Jan-15.  And with it came my bump from $500 to $750.  I'll keep using the card as I have been, for gas purchases.  Let's see if there are more increases to come by continung to follow the steps.  Seems to be a coin toss on this card. 

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Congrats !  Did your credit steps letter indicate that you are elligible for one CLI, or multiple CLIs ?

[Datx]

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@Anonymous wrote:

My 6th Statement cut on Jan-15.  And with it came my bump from $500 to $750.  I'll keep using the card as I have been, for gas purchases.  Let's see if there are more increases to come by continung to follow the steps.  Seems to be a coin toss on this card. 

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Yes, it sure is. Some folks have reported  no increases after the first 'creditsteps' CLI, some reported large CLIs later down the road. Its really a toss up. Just do what you're doing and hope for the best. Congrats!

[Anonymous]

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@pizzadude wrote:

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@Anonymous wrote:

My 6th Statement cut on Jan-15.  And with it came my bump from $500 to $750.  I'll keep using the card as I have been, for gas purchases.  Let's see if there are more increases to come by continung to follow the steps.  Seems to be a coin toss on this card. 

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Congrats !  Did your credit steps letter indicate that you are elligible for one CLI, or multiple CLIs ?

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The letter says:

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 $750 credit line with Capital One Credit Steps SM. 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 $750 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!

So reading as written it says I've been prequalified for a $750 and follow the 2 steps to get it.  To me that says one CLI.  I'll wait and see what happens at my 12th statement after continuing to use is monthly as I have been.  If it bumps up again I'll keep it.  If not I'll probably just close it.  I got this card when I had 4 CO's,a nd two collections on my reports and my scores were much lower. Just waiting for the last two CO's to update to postiive and I'll be good.  I 've since been pproved for 2 different NFCU cards.  So if this card doesn't grow, I'll axe it. 

[corymcd88]

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@Anonymous wrote:

My 6th Statement cut on Jan-15.  And with it came my bump from $500 to $750.  I'll keep using the card as I have been, for gas purchases.  Let's see if there are more increases to come by continung to follow the steps.  Seems to be a coin toss on this card. 

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Don't count on a CLI, I have had mine sense May 2010 and only got one 300 to 500, never late or anything bad.

[pizzadude]

Yeah, It looks like you have the single CLI version of credit steps.   As you probably know CLIs are next to impossible with many Cap1 cards, hopefully you aren't maxed out at $750....

[Anonymous]

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@corymcd88 wrote:

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@Anonymous wrote:

My 6th Statement cut on Jan-15.  And with it came my bump from $500 to $750.  I'll keep using the card as I have been, for gas purchases.  Let's see if there are more increases to come by continung to follow the steps.  Seems to be a coin toss on this card. 

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Don't count on a CLI, I have had mine sense May 2010 and only got one 300 to 500, never late or anything bad.

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What's your usage been on the card?  Reading the boards here seems to show that id you keep using as indicated in the initial letter you will continue to get bumps, albeit small bumps.  Most folks who didn't get additional increases have generally stated they didn't use it monthly, maybe every other month.  The ones who did, continued to use it every single month.  I don't have my hopes up, if I get another increase, great.  If not, oh well.  Don't need Cap1 anymore.  I like the 5% cash back on gas and that's all I use if for. 

[pizzadude]

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@Anonymous wrote:

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@corymcd88 wrote:

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@Anonymous wrote:

My 6th Statement cut on Jan-15.  And with it came my bump from $500 to $750.  I'll keep using the card as I have been, for gas purchases.  Let's see if there are more increases to come by continung to follow the steps.  Seems to be a coin toss on this card. 

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Don't count on a CLI, I have had mine sense May 2010 and only got one 300 to 500, never late or anything bad.

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What's your usage been on the card?  Reading the boards here seems to show that id you keep using as indicated in the initial letter you will continue to get bumps, albeit small bumps.  Most folks who didn't get additional increases have generally stated they didn't use it monthly, maybe every other month.  The ones who did, continued to use it every single month.  I don't have my hopes up, if I get another increase, great.  If not, oh well.  Don't need Cap1 anymore.  I like the 5% cash back on gas and that's all I use if for. 

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There are some credit steps letters that state that you are elligible for two, or maybe 3 CLIs.   Since your letter only indicates one CLI, I don't think you will get another one through this program. 

[Anonymous]

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@pizzadude wrote:

There are some credit steps letters that state that you are elligible for two, or maybe 3 CLIs.   Since your letter only indicates one CLI, I don't think you will get another one through this program. 

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No biggie. My scores were mid to high 500's when I got the card so I can understand that.  When it turns a year I'll see where it's at and go from there. 

[Anonymous]

I have the exact same card as you with the exact same credit steps letter. My 6th statement is set to cut tomorrow so like you I am expecting my CLI to 750 then. If there is nothing more after this it doesnt bother me as now I am going to use my discover more as my first choice card, I will just keep this card until I get the Venture.