Cap1 Credit Steps Question

[stancil70]

Hello my smart friends!

I have a question regarding Capital One Credit Steps.  I've already received one credit steps increase plus another SP increase over the weekend.  Today, I get an email that says if I make a payment of at least $125 per month for the next 6 months, I will get another Credit Steps increase. 

Well here is the deal:  I don't have a balance and don't use the card that often.  If any of you are familiar, do I need to run $125 per month thru the card and PIF every month for the next 6 months?  Or will I still get the Credit Steps limit increase if the balance stays at zero or below $125? 

Thanks in advance for any insight

[Want-a-better-FICO]

Maybe someone else will chime in on this but I've never heard of a particular monthly payment to receive a credit steps increase. I have been through the credit steps program from a Quicksilver master $300 SL to $3,500. Then I PC'd the Quicksilver to a Venture One and cold app'd for the Venture. That sounds fishy to me and deserves a follow up.

[Anonymous]

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@stancil70 wrote:

Hello my smart friends!

I have a question regarding Capital One Credit Steps.  I've already received one credit steps increase plus another SP increase over the weekend.  Today, I get an email that says if I make a payment of at least $125 per month for the next 6 months, I will get another Credit Steps increase. 

Well here is the deal:  I don't have a balance and don't use the card that often.  If any of you are familiar, do I need to run $125 per month thru the card and PIF every month for the next 6 months?  Or will I still get the Credit Steps limit increase if the balance stays at zero or below $125? 

Thanks in advance for any insight

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So you're being asked to stay with a second Credit Steps on the same card?  That's really weird.  I thought the point on Credit Steps was for them to assess your responsibility with their money to mitigate their risk of default.  You've already proved you're responsible with the card, why would you need to do it again?  

[Anonymous]

Personally I was approved on "credit steps" with a $300 limit. I have paid 3 months on time and decided to hit the luv button. To my surprise I recieved a $200 increase. Thats not the best part. That afternoon I received an email from Cap1 inviting me to accept a "pre approved" Quicksilver card. Naturally, I accepted and was given a $1200 CL and 0% for 6 mos! BOOM! Yes it comes with a $30ish yearly fee, but I am good with that.

[stancil70]

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@Anonymous wrote:

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@stancil70 wrote:

Hello my smart friends!

I have a question regarding Capital One Credit Steps.  I've already received one credit steps increase plus another SP increase over the weekend.  Today, I get an email that says if I make a payment of at least $125 per month for the next 6 months, I will get another Credit Steps increase. 

Well here is the deal:  I don't have a balance and don't use the card that often.  If any of you are familiar, do I need to run $125 per month thru the card and PIF every month for the next 6 months?  Or will I still get the Credit Steps limit increase if the balance stays at zero or below $125? 

Thanks in advance for any insight

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So you're being asked to stay with a second Credit Steps on the same card?  That's really weird.  I thought the point on Credit Steps was for them to assess your responsibility with their money to mitigate their risk of default.  You've already proved you're responsible with the card, why would you need to do it again?  

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YEP !! Same card.  Got my original credit steps ... then got another SP CLI after 6 months, then got an email 2 days after my soft pull CLI ... but only for 1 of my CAP1 cards, not both

[JSS3]

My aunt got the same email so it's legit. I don't know whether you need to make certain amounts every month though. Call Cap1.

[2b2rich]

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@stancil70 wrote:

Hello my smart friends!

I have a question regarding Capital One Credit Steps.  I've already received one credit steps increase plus another SP increase over the weekend.  Today, I get an email that says if I make a payment of at least $125 per month for the next 6 months, I will get another Credit Steps increase. 

Well here is the deal:  I don't have a balance and don't use the card that often.  If any of you are familiar, do I need to run $125 per month thru the card and PIF every month for the next 6 months?  Or will I still get the Credit Steps limit increase if the balance stays at zero or below $125? 

Thanks in advance for any insight

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I would/did.  If your CL isn't very high, and you're not using it that much, then maybe it's not enough to show them what you would do with a lot of available credit?

I received a card from them this past April and another one in May, with CLs of $300 and $500, respectively.

Every single month I would max them out and pay them off in full before the due date and after billing ran and reported a zero balance, i would start all over (the 2nd card has rewards )

So 2 months ago was the end of credit steps on the one (the other didn't have that), and after billing ran, I saw a CL go from $300 to $500.. I wasn't impressed.  This month though, after billing ran that same card's CL had jumped from $500 to $4300  and the 2nd card's billing ran last night and I just saw that it jumped from $500, to $2,500.

This is why I don't think they're suggesting you spend/make payments of $125 each month to bait you, but they probably just want to see some activityand what you do with it (ex: pay it off each month or just the minimum, etc)