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Established Member
mmb
Posts: 12
Registered: ‎01-04-2012

Capital One Credit Steps Increase!

I got the Capital One Cash Rewards card back in January with the typical $500 limit and I got a letter from Cap1 stating that I'd see an increase to $750 after my fourth or fifth consecutive payment, blah blah. I just made a payment to them for my fifth statement and am actually carrying a bit of a balance still, of about $100. When I logged onto my account today, I saw that my limit increase had gone through - to $2500!! I was so taken aback I actually had to log onto their live chat just to make sure it was accurate! Haha, I'm sure the CS rep thought I was crazy, but it just seemed like such a huge increase to me. 

 

I'm beyond thrilled. I'm still not yet ready to be approved for a real prime card, but this should hopefully help me with my scores and my utiliization - I was currently hovering around 30%, but now with this new balance, my overall util is probably closer to 10%! I'm so glad that I spent the time and money in the last two years to clean up everything in my credit - I had so much old debt and I sucked it up and spent a few thousand dollars in cleaning it up and my scores have gone from an abysmal median score of 470 to about 660. 

 

Eeee, so happy! Hopefully this means that other folks should be seeing similar increases. Good luck!

 

Frequent Contributor
CreditChampion
Posts: 260
Registered: ‎03-15-2012

Re: Capital One Credit Steps Increase!

YMMV=Crapital One

 

You should have been cli to $750...but congrats!


Fico Scores: 763 EQ(12/11/12) 768 TU(12/11/12) ? EX(TBD)
AMEX Zync NPSL(AU) Citi Forward $4k Discover it $2000 Wells Fargo Cash Back $1300 BankAmericard Better Balance $700 Chase Freedom $500 Capital One Quicksilver $1250
Capital One Secured Card (AU) $251 Capital One Platinum (AU) $500
Member
lupiiin
Posts: 20
Registered: ‎08-06-2012

Re: Capital One Credit Steps Increase!

Good job with rebuilding.

Congrats on the increase!! I'm looking forward to my $750+ when I pay to CC after the 5th statement.

Keep up the good work!!


Sept 2012: TU 682 ; EQ625 ; EX 636

NFCU Secured nRewards $600
CapOne Platinum $500
Macys $100
Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

Re: Capital One Credit Steps Increase!

you mite to post your balance of your last 6 months ? and how you using it ?


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Contributor
jetsfan2012
Posts: 208
Registered: ‎05-28-2012

Re: Capital One Credit Steps Increase!

Congrats! I havent seen anyone the forums see an increase that high before on the credit steps program...

Credit Karma - 636 8-12-12 USAA
Credit Rebuilding Mode - Cap 1 Plat(500CL) SHOW MC(300CL)
Clean Up Mode - Goal - No New Apps till 6/2013
Regular Contributor
ninjamike81
Posts: 208
Registered: ‎08-16-2012

Re: Capital One Credit Steps Increase!

i also have the same card and 500 limit.  does any one know if you can get the increse only once or does that happen every 6 or more cycles


Starting Score: TU 583, EX 683, EQ 653
Current Score: TU DISCOVER FICO 734 EX FICO 726 LENDER PULL 3/10/2013 EQ FICO 723
Goal Score: 750

WALLET: CAP ONE UNSEC $2000, WALMART $2300, CHASE FREEDOM $1000, CITI SIMPLICITY $2600, DISCOVER IT $2000, BBRZ $2200, AMEX BCE $6000, KAWASAKI GOOD TIMES CARD $21,000
Established Member
mmb
Posts: 12
Registered: ‎01-04-2012

Re: Capital One Credit Steps Increase!

@nicholasyud, I typically carry a balance on that card of around $50 - 100, with the $500 limit I had. I think the most I ever used on the card was about $350 or so. Since I have 0% interest on that card until the middle of next year, that's the one I don't mind carrying a balance on. I have another Cap1 card and an Orchard Bank card that I typically pay in full every month. 

 

@ninjamike81, I feel like this one increase is the only one? I haven't seen much elsewhere with people saying they got an additional limit increase after the one promised with the Credit Steps program.

Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

Re: Capital One Credit Steps Increase!

i paid my balance in full every month and its seem like they never give a damn about my payment history. I need some credit increase and call in every single month but never get success.....any one ?

 


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Valued Member
chryanna
Posts: 62
Registered: ‎03-15-2012

Re: Capital One Credit Steps Increase!

[ Edited ]

Hm. This might be a different card, right? Cash reward vs. Credit Steps.  Otherwise, I'm going to start finger-crossing for the same :smileyhappy:

Established Member
mmb
Posts: 12
Registered: ‎01-04-2012

Re: Capital One Credit Steps Increase!

@chryanna, it is a Cash Rewards card through the Credit Steps program. Even my recent limit increase letter still states it's Credit Steps.

 

And clearly this is an anomaly, because I just called Orchard Bank all full of myself and expecting an increase... and I got one, but it's just $150! So I went from $320 to $470 (what a random number). I'm keeping it solely because it's my oldest (18 months old) of my new cards since I started rebuilding and I want to keep that positive tradeline.


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