Established Contributor
namvet
Posts: 866
Registered: ‎09-22-2011
Re: Capital One Credit Steps Program

alexak wrote:

jsucool76 wrote:

My letter never said anything about every 6 months...it said...

 

"Welcome to Capital One!®Your Welcome Kit informed you of your initial credit limit, but as a Capital One Preferred

cardholder, you have been pre-qualified for an additional $500 to your credit line with Capital One Credit StepsSM. This is
an automatic service for new customers and an easy way to achieve more buying power. Simply follow these two steps:
1. Use your card at least once.
2. Make your first 5 monthly payments on time.
That's it. Just complete these two steps and you could automatically get access to your pre-qualified credit line by your 7
th
statement. That's how easy it is to get the extra power you need to fill up your gas tank, buy groceries, dine out... or just
treat yourself!"


 

My letter is the same except for the wording is different. Slightly confusing (not a surprise). My states that I am pre-qualified for a $500 credit line assuming I follow the correct steps. So does this mean my $300 limit will get a $200 increase to a $500CL, or a $500CLI ? Ugh so confusing.:smileymad:


  When you got the card Cap One approved you for a $500 credit line if you followed the steps in the letter.  So that means you will receive a $200 CLI.