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Hi guys! So just to update and fill you in on my situation. I have my first credi card EVER and I just had my first statement cut on the 22nd. The uti at the time it cut was around 26%. I made 4 payments before the statement cut, used some of the available credit and just made a $100 payment again today. I have no credit...like no score yet and 5 inq on each report...well maybe 4 on one of them. My dad added me as a AU on a couple of his cards and all that.. Anyways my main reason for being here today is because I got an email from Capital One today that stated....
Get more from your new credit card—use your card at least once, pay your bills on time and you’ll gain access to a higher credit line. Increase your credit line to:
$500
by paying your bill on time for your next five monthly payments. There’s nothing to sign up for. The countdown to your higher credit line begins with your next payment, and by July 2017, you’ll have access to your new credit line.
So here's the deal. I've been lurking around and reading that some people requested and was approved for a cli after their 3rd or 4th statement cut and still received their steps cli. I'm not gonna lie I requested a cli right after I recieved the card in the mail ( I didn't know what I was doing) and of course recieved the big NO...but here's my question....if I continue to use the card often and make many payments do you guys think I could possibly get a cli in a couple months? Or did I screw up by requesting one already? Rememember I'm new here...Be nice lol...Thanks in advance for all feedback and sorry for making this so long. Have a great evening everyone!!!
No you didn't screw up. Request again after 3rd or 4th statement cuts.
No you haven't messed anything up. You can request a CLI after the third statement and still receive your credit steps increase, as long as you make your payments on time.
Ok thanks guys
I'm assuming you're CL is at $300 now? What they told you is the minimum increase you will get. They told me $250 on mine, then gave me a $1000 increase after 62 days and another $500 in Credit Steps. You should get an email sometime in the last month that has a firm number on it for the increase.
Yup! I was offered $250 when I asked after 3rd statement, which I declined, then offered $300 when I asked after 4th statement, which I took. Then I got my Credit Steps for $500 on my 6th statement. It's very common to get one before the steps increase. Good luck!
Oh... OK.. Yea I requested an increase last night and got the "we'll let you know" message which I'm sure is a no...