cancel
Showing results for 
Search instead for 
Did you mean: 

Credit Steps

tag
Anonymous
Not applicable

Credit Steps

My Quicksilver card was due for a credit increase as of last month, 6 months from the last one, but when I tried to apply for one, I got a message saying it had been too recent since my last increase. The only increase I've gotten was from credit steps for $500 in October, but I didn't think this would count as me manually requesting an increase. The 2 CSRs I spoke to about this message seemed to be very confused as to what I was asking, telling me there is no definite wait time between CLI requests, despite me finding otherwise on their website, and encouraging me to apply whenever I desire. This really bums me out considering the CL is only $1,300 and I have cards that are growing past $4,000 now. I generally spend more than that in a month so it's not really my favorite card to use as a daily driver. Anybody have any experience with this? Can I work around this, do I have to disable credit steps (if possible) or take some other measure?

Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: Credit Steps

The steps increase, that $500 increase, is your last increase ... so you need to wait six months from October to request another CLI

Message 2 of 6
Anonymous
Not applicable

Re: Credit Steps

That's what I was expecting. Any experience with asking to remove credit steps?
Message 3 of 6
Anonymous
Not applicable

Re: Credit Steps

Yes, Credit steps counts and starts your 6-month CLI clock

 

HOWEVER - you are now 6 months out from your last new business app, so you can take another spin at the pre-qualifier if you believe your profile warrants more credit.

 

Yes, it would be a hard pull to take the offer (if any), but people have been know to more than double their credit that way, and then 6 months down the line you can combine the credit lines and really profit

 

(It's also the ONLY way you'll ever get a lower APR from Capital One)

 

 (It worked out REALLY well in my case - Details in the thread in my signature)

Message 4 of 6
Anonymous
Not applicable

Re: Credit Steps


@Anonymous wrote:

Yes, Credit steps counts and starts your 6-month CLI clock

 

HOWEVER - you are now 6 months out from your last new business app, so you can take another spin at the pre-qualifier if you believe your profile warrants more credit.

 

Yes, it would be a hard pull to take the offer (if any), but people have been know to more than double their credit that way, and then 6 months down the line you can combine the credit lines and really profit

 

(It's also the ONLY way you'll ever get a lower APR from Capital One)

 

 (It worked out REALLY well in my case - Details in the thread in my signature)


 

 

I'm gonna take your advice and wait for next month which will be my 6th month (credit steps CLI is supposed to be after 5 months of on time payments and show up on your 6th or 7th statement) and see if I have any more prequalified offers after that.  If not I'm dumping Cap-1, it's my lowest card and basically worthless at $400.00.  Only thing it's helping is my AAoA and it's killin my egoSmiley Very Happy

Message 5 of 6
creditguy
Valued Contributor

Re: Credit Steps


@Anonymous wrote:
That's what I was expecting. Any experience with asking to remove credit steps?

There's nothing to remove, you already completed your steps. As far as I know there would be nothing to remove anyway, cap one assigned you the steps based on your profile at the the time, it's pretty much an involuntary cut and dry program. The one thing you could have done and to keep in mind if you ever get credit steps with a new cap one card in the future, request a CLI at the three month mark and then let the steps CLI kick in at the six month mark, it's a YMMV thing of course but it's been fairly successful. 

Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.