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Was approved in October with a $2K SL...Email for credit steps said i'd get $500 after 5 payments. denied several luv button hits over that course of time. after my 5th payment i received a $1K CLI which i assume is my credit steps increase. I'd also like to add that i rarely use the card. Never had a balance higher than $50 and some months made no purchases. So the credit steps amount doesnt seem to have much to do with usage in my case. Though all my scores have increased since i was approved.
My first statement cut for Cap One Platinum card with $3k limit on 4/19. I charge everything thru it and pay balance about once a week. I received an auto CLI email today saying I will get $500 added after 5th payment. If I want to request an early increase should I wait a certain amount of time before asking online?
@Anonymous wrote:My first statement cut for Cap One Platinum card with $3k limit on 4/19. I charge everything thru it and pay balance about once a week. I received an auto CLI email today saying I will get $500 added after 5th payment. If I want to request an early increase should I wait a certain amount of time before asking online?
Standard wisdom says to wait to the 60-90 day mark...that said, there's been some changes out of Capital One lately, so no telling whether standard wisdom applies anymore.
Good luck to you!
@Anonymous wrote:My first statement cut for Cap One Platinum card with $3k limit on 4/19. I charge everything thru it and pay balance about once a week. I received an auto CLI email today saying I will get $500 added after 5th payment. If I want to request an early increase should I wait a certain amount of time before asking online?
@I'm in a quite similar situation - I got a Cap 1 Platinum unsecured with the same SL as you in February, and my first statement cut in March, second in April and so the third should cut in May with a June 5 payment due date. I got the same email (in my case the $500 auto CLI is scheduled for August/September - I have to go back to check) and I've been considering trying for an "early" CLI in June or July, but like @Anonymous says Cap 1 has been changing some things lately so I'm going to wait and see how things shake out. We know that several lenders have recently started taking AA's against users who draw notice to themselves for various reasons that the lenders consider as being "off" or "wrong", so I'm going to play it very conservatively and if evidence starts accumulating that firing a CLI too early or for too much draws the attention of the lender to your profile in a bad way, then I'm going to forego it.
How do you know if you're part of the Credit Steps program? I just got my QS1 with a $3k limit. Am I automatically enrolled because it's a QS1? Is there a way for me to find out online?