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Capital One Credit Steps

Established Member

Capital One Credit Steps

I got my new card with a $500.00 balance and it is credit steps if I combined another capital one with this card which made the current balance $1067.00 so my new credit limit on the new card is $1100.00 will I still get a credit step increase and if so any idea how much.
Message 1 of 12
11 REPLIES
Regular Contributor

Re: Capital One Credit Steps

I'm not sure what you're asking. You trying to combine two capital one cards for a higher limit?
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Current Score (05/12/15): EQ:583; TU: 570; EX: 596 (FICO)
Starting Score (01/20/15): EQ:511 (FICO); TU: 521 (FAKO)
Message 2 of 12
Established Member

Re: Capital One Credit Steps

yes for a higher limit and I hope when my credit steps kicks in the limit will be even higher.
Message 3 of 12
Frequent Contributor

Re: Capital One Credit Steps

I think you're using the words "balance" and "limit" interchangeably in your first post, which is causing some confusion.

 

I'd wait for the Credit Steps to finish after the 6th statement, and then combine the cards.


Starting Score: 540 EQ 517 TU on 11/17/08
Current Score: 668 EQ 726 TU
Goal Score: 760 EQ 760 TU


My Credit Repair Journal
Message 4 of 12
Established Member

Re: Capital One Credit Steps

thanks and sorry new to this but I have already transferred the balance

Message 5 of 12
Frequent Contributor

Re: Capital One Credit Steps

You have 2 cards from Cap1.

What are the credit limits on each card?

What are the balances on each card?


Starting Score: 540 EQ 517 TU on 11/17/08
Current Score: 668 EQ 726 TU
Goal Score: 760 EQ 760 TU


My Credit Repair Journal
Message 6 of 12
Established Member

Re: Capital One Credit Steps

one card had 600 limit with 590 balance

the new credit steps card was $500 limit and that is the one I transfereed the 590 balance to

Message 7 of 12
Moderator Emerita

Re: Capital One Credit Steps


nancyb10 wrote:

one card had 600 limit with 590 balance

the new credit steps card was $500 limit and that is the one I transfereed the 590 balance to



I think there's still some confusion here.

You transferred a $590 balance (as in, you owe them $590) to a card whose limit is only $500 (as in, you can only charge/ borrow $500)? How did that work? You're already $90 over your credit limit?
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 8 of 12
Regular Contributor

Re: Capital One Credit Steps

haulingthescoreup,

 

I think this person is talking about combining the two cards to get a higher limit... IE, combining the first card (limit?) with the new $500 limit on the second card to make it $1100 - out of which, s/he has used up $590 of his/her limit...

 

Correct me if I am wrong OP.

Message 9 of 12
Established Member

Re: Capital One Credit Steps

ok sorry for confusing this, ok I have had a capital one card for seven months it had a 590.00 balance the limit on this card was 600

ok so then I got approved for a new capital one card in February it had a 500 limit so I called the back door number to see if I could combine the two and they said sure so I did now my limit on my NEW card is $1100.00 with zero interest rate until October so when credit steps kicks in will this still go up $500.00 or $1000.00

Message 10 of 12