topic Re: Capital One No More Bucketed? in Credit Card Approvals

Capital One Un-Bucketed!

Waldemar — Tue, 28 Nov 2023 16:04:45 GMT

I've held Capital One credit cards since June 2021, including a Quicksilver with a $3,000 limit, a VentureOne with a $3,100 limit, a Walmart MasterCard with a $1,250 limit, and a Kohl's Visa Signature with a $3,300 limit. It seems that my Quicksilver and VentureOne cards, and possibly my Walmart card, were bucketed since I obtained them due to unsuccessful attempts to secure a credit limit increase. I've always read that applying for a new card is the only way to break free from this "curse," as those other cards will likely not flourish.

Today, I explored this option and pre-qualified, then applied for the SavorOne card and instantly approved it with a $10,000 limit. The interest rate could be better but acceptable since I don't carry balances. I'm thrilled to finally have a Capital One credit limit that aligns with my financial needs.

Re: Capital One No More Bucketed?

GZG — Tue, 28 Nov 2023 03:29:39 GMT

10K SL certainly suggests that card isn't in the lower buckets like your other cards

congrats on the amazing SL!!

Re: Capital One No More Bucketed?

M_Smart007 — Tue, 28 Nov 2023 03:32:24 GMT

Congratulations on your SavorOne Approval 🎉

Re: Capital One No More Bucketed?

mgood — Tue, 28 Nov 2023 04:12:52 GMT

Congrats! I like that card and you got a nice SL.

Re: Capital One No More Bucketed?

SouthJamaica — Tue, 28 Nov 2023 04:25:04 GMT

@Waldemar wrote:
I've held Capital One credit cards since June 2021, including a Quicksilver with a $3,000 limit, a VentureOne with a $3,100 limit, a Walmart MasterCard with a $1,250 limit, and a Kohl's Visa Signature with a $3,300 limit. It seems that my Quicksilver and VentureOne cards, and possibly my Walmart card, were bucketed since I obtained them due to unsuccessful attempts to secure a credit limit increase. I've always read that applying for a new card is the only way to break free from this "curse," as those other cards will likely not flourish.
Today, I explored this option and pre-qualified, then applied for the SavorOne card and instantly approved it with a $10,000 limit. The interest rate could be better but acceptable since I don't carry balances. I'm thrilled to finally have a Capital One credit limit that aligns with my financial needs.

Congratulations on a very nice approval.

Re: Capital One No More Bucketed?

Linnaea — Tue, 28 Nov 2023 04:28:25 GMT

I thought one could only have 2 major Capital One Cards? Maybe I read that wrong somewhere. There is hope for me. Congratulations.

Re: Capital One No More Bucketed?

LADave — Tue, 28 Nov 2023 06:49:05 GMT

Congratulations @Waldemar on that rockin' SavorOne approval! I think that the SavorOne rewards can be converted to "miles" on your VentureOne, and then moved to transfer partners - sometimes at a higher value than cashing them out.

Edit: as I understand it, CapOne card accounts are "bucketed" by credit profiles when the accounts are created and don't really leave for other buckets. This post from 2017 has a lot of technical information about why and how that's apparently done: https://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Card-Asset-Backed-Securities-ABS-and-why-some-subprime/td-p/5083619

That means your old cards will probably never leave the buckets they're in, but your new SavorOne card appears to be in a much more favorable bucket - which probably means better chances for CLIs and other favorable treatment down the road. I highly recommend using that card at least a few times a year to keep it open as long as possible.

Re: Capital One No More Bucketed?

Waldemar — Tue, 28 Nov 2023 05:32:10 GMT

@Linnaea I did too but I did some research today and apparently that limit is 5 for non-cobranded cards.

Re: Capital One No More Bucketed?

Zoostation1 — Tue, 28 Nov 2023 05:50:27 GMT

Congrats on the approval and nice SL!

Re: Capital One No More Bucketed?

Linnaea — Tue, 28 Nov 2023 07:44:40 GMT

Oh thank you for the data points.

Re: Capital One No More Bucketed?

NoMoreDebt — Tue, 28 Nov 2023 12:17:19 GMT

congrats on the approval

Re: Capital One No More Bucketed?

gdale6 — Tue, 28 Nov 2023 12:45:57 GMT

Fantastic SL, ouch on the APR, rates are outrageous these days used to be 18% tops years ago. Anyway, enjoy the card!

Re: Capital One No More Bucketed?

JoeRockhead — Tue, 28 Nov 2023 12:50:55 GMT

Very nice SL, congratulations on your approval!

Re: Capital One No More Bucketed?

BigBS — Tue, 28 Nov 2023 14:18:09 GMT

Congrats on the approval!

Re: Capital One Un-Bucketed!

coreyb80 — Tue, 28 Nov 2023 23:26:17 GMT

Congrats on the approval!

Re: Capital One Un-Bucketed!

CreditAggie — Wed, 29 Nov 2023 01:31:00 GMT

Congratulations on your Cap1 approval!

Re: Capital One No More Bucketed?

Anonymous — Wed, 29 Nov 2023 03:14:29 GMT

Congrats on the approval!