Capital One credit steps

Anonymous · ‎10-16-2016

Hey everybody, my bankruptcy was just charged in April of this year. After my bankruptcy, Capital one fortunately gave me a credit card with them. It is the Quicksilver, and they gave me a $3000 starting limit. They specified that once I made five consecutive OnTime payments that they would give me a credit line increase. Here is a little bit about my situation.

Charge probably 1200a month avg on the card, making multiple payments per month. Statement balance always below $500.

Opened a Barclays Carnival world Mastercard with a $3000 starting credit limit 2 months ago.

No lates or negatives or bads since I filed my BK7.

Credit karma score of 674 transunion and 685 equifax scores.

Just wondering, based on your own personal experiences, or I'll even take your opinions, how much of a credit line increase do you think capital one will give me next month after I've completed the credit steps they told me about?

Thx
Pizza

rmduhon · ‎10-17-2016

Honestly, your guess is as good as ours. Did you get the mid-steps increase? It won't interfere with the credit steps increase. And just to make sure you know, the steps increase hits on the 6th statement.

Anonymous · ‎10-17-2016

I'm really not sure. All I know is they told me after I made 5 consecutive on time payments, that they would increase my credit line.

rmduhon · ‎10-17-2016

Login to your account and look for credit increase under the service tab/link. It's a soft pull.

Anonymous · ‎10-17-2016

Well I have one more month lol.

was more wanting ideas on what others have experienced.

Anonymous · ‎10-17-2016

You can request a CLI now and still get the auto-increase next month, just so you know.

As for a Credit Steps increase, it could be anything from $250 to $2000. Did you get an email saying how much it will be? While Capital One frequently gives more than what the email says (if they sent one at all, because they don't always), the email will be the floor of how much they will give.

cuthatcard · ‎10-17-2016

Congratulations on your..CC's, great job !

I'm in the same boat with mine ( had it about 2 weeks ), seems like I've read here that you can ask for CLI at the 3 month period ( may be wrong) via the button, then at the end , they give your increase.

May be others with experience will chime in on exactly how to do this !

Nice SL, mine was $2,000.00, looking for a 3rd card, like your method !

FICO :November 2016
TU-761 EQ 756. EX - 749
No Baddies
QS1 -$2,000. Care Credit $9,600.00 CHASE Freedom $3,000.00 Discover IT $1,000.00
Inq TU 4 EQ 3 EX 2

Anonymous · ‎10-17-2016

I did not get an email stating how much it would be.

I just tried the CLI button and got a message saying something like I could see the results in the document center in 2-3 days, so idk.

so looks like I wait, lol.

Creditwiser · ‎10-17-2016

I had the same scenario as you after my BK Disch. My QS began with a 3k CL and I received 1.5k CLI after credit steps. If you look at my siggy you'll see that I quickly grew both cards. Like you, I used them like debit cards paying for everything with them and paying multiple times per month and usually PIF before statement cut. Cap 1 has been very generous and a huge factor in my overall rebuild. Good luck on your rebuild !

Anonymous · ‎10-21-2016

Hi, pizzapusher. I am in a similar situation for Credit Steps. I started with a $3000 SL, and my 6th statement will cut in the first week of December. When I get my increase I will come back on and let you know what it is. The only difference is that I requested a CLI at 3 months and got $300 already (my current SL is $3300), and I've only put $500-$700 through the card each month.