topic Re: Cap1 Secured CLI??? My mind is blown... in Credit Card Approvals

Cap1 Secured CLI??? My mind is blown...

Anonymous — Thu, 15 Oct 2020 18:56:30 GMT

I opened a capital one secured card with a $99 deposit and a $200 credit line on 4/28/20. My statement date is the 14th, but my October statement isn't available yet.

I logged in today to find that my credit limit was $500.

How did this happen??? I was under the impression that Cap1 secured cards will never graduate or CLI under any circumstances.

The "increase credit limit" option is also available now, as it takes me to a form to make the request. The name of the card still says "secured" though.

Anyone have any idea what's going on here?

Re: Cap1 Secured CLI??? My mind is blown...

dragontears — Thu, 15 Oct 2020 19:00:30 GMT

@Anonymous wrote:
I opened a capital one secured card with a $99 deposit and a $200 credit line on 4/28/20. My statement date is the 14th, but my October statement isn't available yet.

I logged in today to find that my credit limit was $500.

How did this happen??? I was under the impression that Cap1 secured cards will never graduate or CLI under any circumstances.

The "increase credit limit" option is also available now, as it takes me to a form to make the request. The name of the card still says "secured" though.

Anyone have any idea what's going on here?

Back when I had a cap1 secure card (2013) getting a $300 CLI after 6 months of good payment history was common.

Congrats on the CLI

Re: Cap1 Secured CLI??? My mind is blown...

WavysMommy — Thu, 15 Oct 2020 19:11:00 GMT

This sounds about right. It may be the ONLY increase you get with this particular card, but normally you'll get a pre-approval for a better Cap1 card later. I received an increase and later a pre-approval for QS about 7 months after opening the Platinum secured.

Re: Cap1 Secured CLI??? My mind is blown...

Anonymous — Thu, 15 Oct 2020 19:24:49 GMT

Ah ok. I always thought that it was a "you get what you get" card and it would never go anywhere at all from the initial limit.

Thank you guys for the info!

Re: Cap1 Secured CLI??? My mind is blown...

AllZero — Thu, 15 Oct 2020 19:50:26 GMT

Congratulations on your CLI!

Re: Cap1 Secured CLI??? My mind is blown...

M_Smart007 — Thu, 15 Oct 2020 20:00:26 GMT

Congratulations on your CLI

Re: Cap1 Secured CLI??? My mind is blown...

gdale6 — Thu, 15 Oct 2020 20:01:24 GMT

It wont graduate but auto CLIs are possible, congrats on it

Re: Cap1 Secured CLI??? My mind is blown...

cashorcharge — Thu, 15 Oct 2020 20:14:02 GMT

Congratulations on your CLI with Cap1

Re: Cap1 Secured CLI??? My mind is blown...

CreditAggie — Thu, 15 Oct 2020 21:07:12 GMT

Congratulations on your Capital One auto-CLI!

Re: Cap1 Secured CLI??? My mind is blown...

Meanmchine — Thu, 15 Oct 2020 22:34:04 GMT

Congrats on your Cap1 luv !

Re: Cap1 Secured CLI??? My mind is blown...

nuohlac — Thu, 15 Oct 2020 22:55:21 GMT

Congratulations on your CLI!!!

Re: Cap1 Secured CLI??? My mind is blown...

Anonymous — Thu, 15 Oct 2020 23:50:59 GMT

@Anonymous wrote:
I opened a capital one secured card with a $99 deposit and a $200 credit line on 4/28/20. My statement date is the 14th, but my October statement isn't available yet.

I logged in today to find that my credit limit was $500.

How did this happen??? I was under the impression that Cap1 secured cards will never graduate or CLI under any circumstances.

The "increase credit limit" option is also available now, as it takes me to a form to make the request. The name of the card still says "secured" though.

Anyone have any idea what's going on here?

You got the "credit steps" CLI.

After 6 on-time payments (or 6 months), you generally get an increase ($300, usually).

My SO got a Cap One Secured in March with $500 SL ($99/$200 plus additional deposit of $301 to bring the CL to $500).

In September he got his "credit steps" CLI of $300 to bring his CL to $800.

We had difficulty in the beginning and did not get hus card for the first 3 months the account was open and on the app/website it did not show the "credit steps" program, which was shown in my account with an unsecured Cap One Plat pc'd to QS, so I was unsure if he would get it since he was unable to make 6 payments in the first 6 months.

He did!

Congrats on getting your Credit Steps CLI!

I am pretty sure you do not get another one after this CLI, but you never know, and to my knowledge, it never unsecures (at least at this time).