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Hi all,
I've seen many members on this forum refer to "credit steps." Is there a thread or anything that explains what this is? I'm in the garden for at least a year after my recent spree and newly added cards, but I have a Cap1 Platinum that was upgraded to QS through the soft pull online product change page. I opened the card in late January. The limit, APR, account number, etc stayed the same -- low $300 limit.
I see nothing stickied about this so any insight would be amazing. I'll gladly take SP CLI's over the course of my gardening.
Thanks!
Well CapOne should have sent you an e-mail after you made your first payment. If you make your next 5 payments on time after that you get a CLI.
FYI, all capital one CLIs are a SP so you can ask for one but you can only get one every 6 months.
Also, if you are enrolled in credit steps then you can ask for a CLI before the credit steps increase (usually around month 3 or 4) and you will still get the credit steps increase at 6 months.
Gotcha--thanks for the info. Now that I'm looking through my Archived emails, I see the CLI email from late February... guess it hits in August. $300 to $500. Still going to keep the card in my sock drawer
Ya, well you can still ask for a CLI before the credit steps and you will get both. It's a SP and if they say no there's no harm so you can ask for it every couple days until they offer it.
Just FYI capital one is unlikely to offer you any type of CLI if you don't use the card, so if that's your ultimate goal then sock drawer probably won't help you.
For the record, our Credit Steps letter said we would be going from $300 to $500. Around the 4 month mark we hit the luv button and got a $100 CLI and then the day after our 6th statement cut we got our Credit Steps CLI to $750. So, it's not super high obviously, but it is more than the $500 we were expecting.
Good luck!
Just tried again for a CLI (seeing that I just upgraded my Platinum to QS yesterday) and I got the same 2-3 day denial message that I did last month. :\ Oh well, I'll just have to give it another shot next month.