topic Re: Capital One Tripled My Limit! Am I not Bucketed? in Credit Card Approvals

Capital One Tripled My Limit! Am I not Bucketed?

xReMaKe — Fri, 12 Feb 2021 08:35:01 GMT

I applied for the capital one platinum in October, and I just got a credit increase! I went from 1000 to 3000 in 3 and a half months.

A little history. Chapter 7 1 year and two months ago. Tried capital one every month and they did not let me in until the 10th and a half month.

Credit score is currently 672 Experian. Haven’t checked the others in a month but about the same.

I do tend to use the card a lot. Every month It’s close to it’s limit. I pay a lot of it down throughout the month and rack it back up the same month and repeat. While also not letting it report too much. (usually 5-25%). I use it a lot since it’s the only credit card I can use anywhere (Other cards are PP credit and FH) and I run a business, so any small business expense is charged and paid multiple times. Hopefully I can apply for a spark in another 6-8 months.

Now I have a question:

I always heard its almost impossible to receive a good credit increase with capital one after Bk due to being bucketed. Could it be that capital one has changed, or maybe I got lucky and didn’t get bucketed? I was initially told that I would not receive a credit limit till my 6 months (maybe I get another at 6month?). Then again, I was also told my limit was 1500 and ended up being 1000 though I could have misheard lol. (applied on phone since the website did not let me). Hopefully the limits keep coming since I hate having to pay business expenses cash, need some rewards!!

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Re: Capital One Tripled My Limit! Am I not Bucketed?

Rebuild2019 — Fri, 12 Feb 2021 09:41:43 GMT

Congratulations 🎉🎊🎈on your CLI.

Re: Capital One Tripled My Limit! Am I not Bucketed?

M_Smart007 — Fri, 12 Feb 2021 14:44:54 GMT

Congratulations!

Re: Capital One Tripled My Limit! Am I not Bucketed?

gdale6 — Fri, 12 Feb 2021 15:02:42 GMT

In all honesty Cap-1 has been so flightly recently its not possible to determine what they are doing. I am seeing in the past few days some other automatic increases so maybe they have loosened the purse strings some. Grats on getting a very nice CLI

Re: Capital One Tripled My Limit! Am I not Bucketed?

Anonymous — Fri, 12 Feb 2021 17:50:23 GMT

Congrats, i got same increase last night also.. Opened account with Cap 1 on 9-26-2020 with a 1k SL.

Re: Capital One Tripled My Limit! Am I not Bucketed?

CreditAggie — Fri, 12 Feb 2021 16:01:53 GMT

Congratulations on your Capital One auto-CLI!

Re: Capital One Tripled My Limit! Am I not Bucketed?

blindambition — Fri, 12 Feb 2021 16:11:57 GMT

@xReMaKe wrote:
I applied for the capital one platinum in October, and I just got a credit increase! I went from 1000 to 3000 in 3 and a half months.

A little history. Chapter 7 1 year and two months ago. Tried capital one every month and they did not let me in until the 10th and a half month.
Credit score is currently 672 Experian. Haven’t checked the others in a month but about the same.

I do tend to use the card a lot. Every month It’s close to it’s limit. I pay a lot of it down throughout the month and rack it back up the same month and repeat. While also not letting it report too much. (usually 5-25%). I use it a lot since it’s the only credit card I can use anywhere (Other cards are PP credit and FH) and I run a business, so any small business expense is charged and paid multiple times. Hopefully I can apply for a spark in another 6-8 months.

Now I have a question:
I always heard its almost impossible to receive a good credit increase with capital one after Bk due to being bucketed. Could it be that capital one has changed, or maybe I got lucky and didn’t get bucketed? I was initially told that I would not receive a credit limit till my 6 months (maybe I get another at 6month?). Then again, I was also told my limit was 1500 and ended up being 1000 though I could have misheard lol. (applied on phone since the website did not let me). Hopefully the limits keep coming since I hate having to pay business expenses cash, need some rewards!!

Capture.jpg

Congrats on the CLI!!! A $1k approval would suggest card isn't bucketed. That's on cards approved $300-$500.

Your CLI isn't surprising on usage you listed, but don't expect to see that consistently.

Re: Capital One Tripled My Limit! Am I not Bucketed?

SweetCreditObsession — Sat, 13 Feb 2021 01:15:31 GMT

@xReMaKe - congratulations on the CLI. It's uncertain how much it will grow from here and keep in mind there are multiple buckets. You're certainly not in the lowest bucket.

Re: Capital One Tripled My Limit! Am I not Bucketed?

Wavester64 — Fri, 12 Feb 2021 16:27:44 GMT

@xReMaKe

congrats_hotdog.JPG

Re: Capital One Tripled My Limit! Am I not Bucketed?

AllZero — Fri, 12 Feb 2021 17:11:51 GMT

Congratulations on your CLI!

Re: Capital One Tripled My Limit! Am I not Bucketed?

coreyb80 — Fri, 12 Feb 2021 17:26:44 GMT

Congrats on the increase!

Re: Capital One Tripled My Limit! Am I not Bucketed?

cashorcharge — Fri, 12 Feb 2021 17:42:06 GMT

That's terrific! Congratulations on your approval!! 🎉🥂

Re: Capital One Tripled My Limit! Am I not Bucketed?

MyFault — Fri, 12 Feb 2021 17:47:14 GMT

Congrats on your CLI!

Re: Capital One Tripled My Limit! Am I not Bucketed?

Anonymous — Fri, 12 Feb 2021 18:38:18 GMT

@blindambition wrote:
A $1k approval would suggest card isn't bucketed. That's on cards approved $300-$500.

Not necessarily. While not incredibly common, one can have a higher > $1k SL from Cap One that is still a bucketed account. Bucketed has to do with the credit profile terms upon which the approval was made. Most bucketed cards are indicative of a weak profile at the time of approval, but there are different profile factors that can constitute what is weak.

OP, congrats on your approval and hopefully you'll see further growth in the future!

Re: Capital One Tripled My Limit! Am I not Bucketed?

Anonymous — Fri, 12 Feb 2021 20:07:42 GMT

Congrats!

Re: Capital One Tripled My Limit! Am I not Bucketed?

Demented1 — Sat, 13 Feb 2021 04:41:47 GMT

Congratulations @xReMaKe and keep your chin up its easier to hit that way…KIDDING!

Welcome to Ch7 Club. Don’t ever feel like you’re alone…there is a lot of us that had been through what you’re experiencing. Put the buckets in the basement to catch the residual fallout and let’s do this. You’ve already shown that you’re resilient so the next step is to keep your head down and continue on your path. It’s not luck that got you back in the game…it’s tenacity and your wherewithal to succeed. I would suggest you go for a Discover or AmEx and get a Pre-Qual to help you settle in and make an informed decision.

That’s strictly my opinion and not that of the MF Community which I am confident will respond.

Re: Capital One Tripled My Limit! Am I not Bucketed?

BAD_UP — Sun, 14 Feb 2021 06:21:16 GMT

Congrats on your CapOne CLI🎉👍

Re: Capital One Tripled My Limit! Am I not Bucketed?

JoeLuvsHisCredit — Sun, 14 Feb 2021 17:59:08 GMT

Congratulations