Holy CLI from Cap1 since I started rebuilding...

[Anonymous]

On 4/6 I opened a QS1 (PC'd from a Platinum around 4/21) and a QS. Both cards started with a $500 credit limit. 

My QS1 had 17 payments through Wednesday totalling $2,400. I was offered and I accepted a $3,500 credit increase on this card, totalling $4K.

My QS had 13 payments through Wednesday totalling $2,100. I was offered and have NOT accepted a $1,500 credit increase.

First, I am extremely happy. I was shocked to see that both cards weren't offered the same increase. I called and was told that CLIs are strictly automated and they couldn't offer any insight other than trying in a few weeks for a different result. Of course there is a chance the CLI could be lower, but I doubt it. I do plan on combining these cards after I get my steps increase after my 5th statement (3rd just cut on Wednesday).

MYFICO.com scores are 581-589. 10+ derogs (all paid, one hasn't updated that shows my UTI >50%)

Any opinions on my QS? Should I try every week for a month, and take whatever is offered after my 4th statement, this way I can also get my step increase after the 5th statement? Thoughts...?

[Anonymous]

What is a step increase?

[Aduke1122]

If you don't mind me aslong what we're your fico scores when you applied and was approved for QS and QS1 ? Reason I ask I have had two secured cards one with Cap one and usaa for the other and im.wanting to pull that trigger and app for the QS1 , but I'm worried I will be denied and be stuck with a HP my scores are all around 570s fico 08, also are your scores fico or Ck fako scores ? Thanks for the help and Congrats on the CLIs yay!!

[Aduke1122]

Sorry meant to say asking ** on my phone.

[Anonymous]

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@Anonymous wrote:
What is a step increase?

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Most Cap One cards are automatically enrolled in the credit steps program which offers an automatic CLI after 5 or 6 statements. Many have been able to get an increase at 2 or 3 statements and then still get the steps increase too.

[Anonymous]

OP, that's almost a 100% increase which is pretty generous. Cap One definitely feels pretty random with the CLI amounts most of the time, but that is a HUGE increase pergentage-wise and especially for your current scores. Whatever you decide, just take something before the steps increase.

[Anonymous]

Look at the 2 together. They offered you a 5k increase. That is 500% increase.

Personally, I would just take it and move on to the next step. Remember this is a marathon not a sprint. 

[RonM21]

It can vary how high the increases may be between different people. You have done well so far with them and are heading down a good road.

[Anonymous]

I'm going to wait one week. I've got $1k in charges I need to do this week. I can run them through this card. Once payments post and I'm at zero I'll accept what they offer after that. I agree on the marathon.

[RobertEG]

They are required under the FCBA to send monthly billing statements on the account if there is a balance due.

That statement should include the current credit limit.

I would wait until you have a billing statement as confirmation of current account terms before assuming that both were actually given the CLI.