My sister just got her letter from Cap1 regarding their credit steps program. Her initial CL is $1000 (she just paid her first bill last night). The letter said she would get a $500 CLI after 5 months of on-time payments and using the card.
From what Ive read, the steps program typically has a number of CLI that occur at regular set times. What can she expect from this? The first one in 4 more months would set her CL to $1500. When would the next step be and for what range CLI?
Credit step is one time CLI increase. There will be NO more CLI after this.
My experience also. Should be called "Credit Step"
Well, that's a misnomer if ive ever seen one.
about 3-4 years ago they were doing 1 or 2 steps, I was given two steps (auto-cli's) but haven't heard of anyone else getting the second auto-cli in a year or more.
Least she got an OK start limit. I had a starting of $500 went to $750 that was three years ago. I only use it for crap stuff like security holdings for hotels etc I never charge on it, as they do not deserve a dime. My other cards now range on average in the $20k range.