Capital One Credit Steps

[tvandine]

So i've seen a lot of people post about capital one not giving automatic credit limit increases and such. And them putting everyone into a credit steps program, until now i've had mixed opinions about this program and everyone always had a different story to tell about it.

When you apply for a card, they know what they will give you, say they know you are credit worthy of $5,000 via your credit report. But they're going to start you out at $500 just to make sure that you are capable of handling that kind of limit. You have to make sure you pay on time, and never go over your limit, if you do, after 5 billing cycles, you'll be provided with your full credit worthiness limit. I found this out via a message to Capital One. Here it is, take a look:

Thanks for contacting us about your Capital One account. 

Credit Steps is a program that informs customers of their total 
pre-qualified line and tells them how they can gain access to that 
amount. You must complete the following steps to get access to your full
pre-qualified credit line:

•Activate and use (any activity that would create a payment due) the 
card within the first 90 days of the account opening.
•Keep the account balance below the credit limit.
•Make the first three monthly payments on time.

If you successfully complete the Credit Steps program, the full 
pre-qualified credit line will appear by:

•the 5th billing statement if you do not miss a required step
•the 7th billing statement if you miss only one required step

If you have any questions, please give us a call at 1-800-955-7070. Our 
Customer Service Representatives are available 24 hours a day, 7 days a 
week.

For the hearing impaired: Telecommunication Device for the Deaf (TDD)

To access our TDD line, please dial 1-800-206-7986 Monday through Friday
8:00am to 5:00pm ET. Please have your account information readily 
available.

We value your feedback. 

Please copy and paste the link below into your website browser’s address
field to take a brief survey to let us know how we are doing. It should
only take a couple minutes. Thank you!

https://www.surveymonkey.com/s/CapitalOneCreditCard

Sincerely,
Capital One

[coldnmn]

It seems even Cap1 has different opinions. When I was in credit steps if you followed their guide lines for 5 statements on the 7th statement a CLI will appear on that statement. I still have the paper.

[mab463]

This is a very different experience from the one I have.

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 by your 7th statement.

I like yours better...