Reply
Contributor
giant56
Posts: 77
Registered: ‎10-23-2007
0

New to Cap 1 and I have a question?

I just got approved for a $300 cl (recovering from BK ). How long does it usually take for them to increase the initial cl?
"No one can make you feel inferior, unless you give them permission".

6/08 TU 631 EQ 620 EX 616
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: New to Cap 1 and I have a question?



giant56 wrote:
I just got approved for a $300 cl (recovering from BK ). How long does it usually take for them to increase the initial cl?


You are probably in the Credit Steps program.  Most of their rebuilder cards are.  As long as you use your card within the first 90 days, don't ever go over the limit, and make three timely monthly payments, you should see a CLI to $500 by the time you get your fifth statement.
 
After that, it's anyone's guess.  Many people have had good luck with the backdoor numbers, but some have not.

 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Regular Contributor
msheresy
Posts: 124
Registered: ‎05-21-2008
0

Re: New to Cap 1 and I have a question?

I had a 300cl, always PIF, and on time and I called the backdoor right at the 3 mths mark and got an increase to 600.  I have a credit steps card so I should be getting that increase in the next few weeks as well.  Its smart to call before the auto increase!   (I learned that here :smileyhappy: )
Contributor
giant56
Posts: 77
Registered: ‎10-23-2007
0

Re: New to Cap 1 and I have a question?

Thanks for the advice.
"No one can make you feel inferior, unless you give them permission".

6/08 TU 631 EQ 620 EX 616
Frequent Contributor
kball64
Posts: 280
Registered: ‎02-05-2008
0

Re: New to Cap 1 and I have a question?

I started with a 300 CL as well and called a backdoor # after the 2nd month and requested a CLI.  They bumped me up to 600.  I'm waiting now for credit steps to kick in and give me another increase. 
Frequent Contributor
mrscharlie
Posts: 299
Registered: ‎04-28-2008
0

Re: New to Cap 1 and I have a question?

I am calling Monday after my 2nd statement payment posts.  I can't wait.
TU-654 (6/9/08), EQ-660 (5/15/08), EX-?
TU-696 (9/1/08), EQ-702 (2/25/09), TU-700 (3/2/09)
TU-748 (6/4/09), EQ-746 (6/1/09)
TU-746 (7/7/09), EQ-749 (7/7/09), EXP-696 (7/7/09)
Established Contributor
landocalrissian
Posts: 597
Registered: ‎10-27-2007
0

Re: New to Cap 1 and I have a question?

With Cap1 and the credit steps, one of the major things that you have to do is put the card to work.  I have 2 cards that are at 1600 dollar limits.  I have not received any recent increases on these cards in a while (even though I have called the backdoor number numerous times) due to fact that I sockdrawered them for the time being and been using other cards.
I would really like to purchase a new Millineum Falcon with my WAMU (oops Chase card)!!!! But first I need a decent credit limit.
Frequent Contributor
kball64
Posts: 280
Registered: ‎02-05-2008
0

Re: New to Cap 1 and I have a question?

That is true about working the card.  I called last week and asked if I was eligible for another CLI yet and was told no.  She told me to keep using the card.  So I used it to buy a Scorepower update. :smileyhappy:

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+