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Capital One Credit Steps?

Regular Contributor

Capital One Credit Steps?

I was approved for a Capital One Stadard Platinum card with a $300 limit yesterday.  However, I am wondering if I will automatically be enrolled into credit steps or if that is only available for certain accounts or certain cards.  I called and the rep said that he doesn't see the option on my account as of yet.  If I don't have the credit steps option, I don't want to be stuck with this low limit card...  I already have their secured card and a Orchard Bank card w/ a $300.00 limit.  Has anyone ever received a card and they tell you that you aren't eligible for credit steps? 

Closed on my 1st home on: 11/30/2011
First Guaranty Mortgage Corporation (FGMC)
Starting Score:Equifax: 490 (01/14/2011)Transunion: 498 (01/14/2011)
Current Score: Equifax: 609(07/09/2012) Transunion: 644 (10/14/2011) Experian: 593 Lender Pull (08/22/2011)

Goal Score: 700

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Message 1 of 15
14 REPLIES
Contributor

Re: Capital One Credit Steps?

My scores are very similar to your current scores. Cap1 notified me 30 days after getting approved that I was in the Credit Steps program. It's automatic according to the letter I received.


Starting Score: 534 11/09
Current Score: FICO 652 05/11
Goal Score: 700+


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Message 2 of 15
Mega Contributor

Re: Capital One Credit Steps?

 


mocha82 wrote:

I was approved for a Capital One Stadard Platinum card with a $300 limit yesterday.  However, I am wondering if I will automatically be enrolled into credit steps or if that is only available for certain accounts or certain cards.  I called and the rep said that he doesn't see the option on my account as of yet.  If I don't have the credit steps option, I don't want to be stuck with this low limit card...  I already have their secured card and a Orchard Bank card w/ a $300.00 limit.  Has anyone ever received a card and they tell you that you aren't eligible for credit steps? 


I'm interested in that card as well. I want to PIF my secured Cap1 card before I apply tho. How long have you had their secured card?

 




EQ FICO 548 3/3/16
Message 3 of 15
Valued Contributor

Re: Capital One Credit Steps?

 


tbolt2 wrote:

My scores are very similar to your current scores. Cap1 notified me 30 days after getting approved that I was in the Credit Steps program. It's automatic according to the letter I received.


+1 My scores were about the same when I apped for the Cap1 CC back in June of 2010 and I received a letter somewhere between 15-30 days later notifying me that I was in the "Credit Steps Program".

 


Starting Score: 583
Current Score: 3-03-12-EQ-802 TU-806 EX-798 (EQ Beacon 9: 804 Lender Pull 3-08-12) All FICO's
Goal Score: 800+ across all three

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Message 4 of 15
Established Contributor

Re: Capital One Credit Steps?

When you call the Account Specialists or Sr. Account Managers via the back door numbers, just ask if they can take a close look at the account features section to see if it's enrolled in the credit steps program.  Somehow, CSRs don't check this particular section often, therefore, will not have the answers unless you specifically tell them to check the account features section to confirm.  It's sad that customers must communicate instructions, but as long as we know about it.

Message 5 of 15
Valued Member

Re: Capital One Credit Steps?

I just used the instant message feature on captial one's website to talk to a representative. Just had to verify some info and they can tell you whatever you need to know about your account.

Message 6 of 15
Mega Contributor

Re: Capital One Credit Steps?

What is this xredit steps program im hearing about??? How does it work??




EQ FICO 548 3/3/16
Message 7 of 15
Regular Contributor

Re: Capital One Credit Steps?

I have a capital one card that I opened last month.  The program is that if you use the card at least once, stay below your limit, and make all your payments on time by the due date stated on your bill you will see a Credit Limit Increase of 200-250 on your 7th billing statement  The 300 dollar cards get the 200 increase to 500, and my boyfriends 500 dollar card got the 250$ increast to 750$.  Anything after that is very rare and random, there is no logic to it.

Message 8 of 15
Mega Contributor

Re: Capital One Credit Steps?

 


torry590 wrote:

I have a capital one card that I opened last month.  The program is that if you use the card at least once, stay below your limit, and make all your payments on time by the due date stated on your bill you will see a Credit Limit Increase of 200-250 on your 7th billing statement  The 300 dollar cards get the 200 increase to 500, and my boyfriends 500 dollar card got the 250$ increast to 750$.  Anything after that is very rare and random, there is no logic to it.


That doesnt seem like a real good program, only one CLI then its all random and rare. I want this card too, I dunno now.

 




EQ FICO 548 3/3/16
Message 9 of 15
Regular Contributor

Re: Capital One Credit Steps?

It is a great card to build history, Capital one is probably the best builder or rebuilder card out there.   They are not hard to talk to about waiving any annual fees, my annual fee is only 19$ and they waived it for the first year.  Much Much better than first premier bank or HSBC (orchard bank, household bank).  Customer service is alright, not the best but better than most of those companies I listed.  Credit one is okay, but they charge many many fees just like first premier. I would try for it, hold onto it until you get a better prime card and then close it if you do not want it any more or if they will not waive the annual fee.

Message 10 of 15