topic Re: Capital One Credit Steps CLI in Credit Cards

Capital One Credit Steps CLI

jbishop1001 — Tue, 30 Dec 2014 20:32:26 GMT

I applied for (and received) 2 Capital One cards in October. I understand that they will be increasing my credit limit by $200 on each card after 6 months of on time payments.

Since I actually needed the credit, I have maxed the limits on both cards. (Don't shun me, I said I needed it!) I have been making minimum payments on time. I intend to fully pay back the balances in February.

My question is - will the fact that I've only made minimum payments effect the amount of my increase? I have read seveal other users say that they received MORE than the promised increase because of their payment history and usage. If I pay back the balance in full before review, will I still have a good chance at a higher limit increase?

Please let me know your experience. Thanks!

Re: Capital One Credit Steps CLI

waters — Tue, 30 Dec 2014 20:45:11 GMT

Minimum payments are all you need to get the guaranteed credit steps cli... However.. It's rare for anybody to only get what's in the email..

Most people get $1000-$3000....with that said, if your payment history shows just minimum payments you might have jeopardized that higher potential limit.

Re: Capital One Credit Steps CLI

Anonymous — Tue, 30 Dec 2014 22:43:55 GMT

@waters wrote:
Minimum payments are all you need to get the guaranteed credit steps cli... However.. It's rare for anybody to only get what's in the email..

Most people get $1000-$3000....with that said, if your payment history shows just minimum payments you might have jeopardized that higher potential limit.

I just received the QS1 card with a 3k starting CL and they set me up on credit steps. I plan on using the card heavily (for the cash rewards). I just got it yesterday and have already spent 1800 towards January bills! I plan on paying off about 95% monthly. Do you think there is still a potential for me to get 3000 CLI in 6 months?

Re: Capital One Credit Steps CLI

Creditwiser — Tue, 30 Dec 2014 22:49:51 GMT

@Anonymous wrote:
@waters wrote:
Minimum payments are all you need to get the guaranteed credit steps cli... However.. It's rare for anybody to only get what's in the email..

Most people get $1000-$3000....with that said, if your payment history shows just minimum payments you might have jeopardized that higher potential limit.

I just received the QS1 card with a 3k starting CL and they set me up on credit steps. I plan on using the card heavily (for the cash rewards). I just got it yesterday and have already spent 1800 towards January bills! I plan on paying off about 95% monthly. Do you think there is still a potential for me to get 3000 CLI in 6 months?

I too received a 3k QS1 ( PC'd to QS 2 months later ) and am patiently waiting for my CLI. I use the card like a debit card and PIF. Recently there have been a ton of posts with folks having generous CLI's from Cap1. It seems to be the norm from them lately. I dont know that you'll double or even get 5k but at the least, if you've kept the account in order, you should get at least 1500 . 5 To 6k is possible though based on others.

Re: Capital One Credit Steps CLI

Anonymous — Tue, 30 Dec 2014 22:59:44 GMT

Thanks, I am hoping for at least 1-2k. I switched all my auto-payments over to this card today and will use it for everyday stuff as well (gas, groceries, etc). I should end up running about 3-4k through it every month (just like you, use it like a debit card). I'll likely have to make 2 payments a month on it until I get a CLI that can support my habits lol.

Re: Capital One Credit Steps CLI

taxi818 — Wed, 31 Dec 2014 01:17:09 GMT

@waters wrote:
Minimum payments are all you need to get the guaranteed credit steps cli... However.. It's rare for anybody to only get what's in the email..

Most people get $1000-$3000....with that said, if your payment history shows just minimum payments you might have jeopardized that higher potential limit.

Exactly. I got 12 times what they said they would give. Went from 500-3500. They said I would get 250 extra. But no way did I pay minimum. Do that and you will only get 200 increase.

Re: Capital One Credit Steps CLI

taxi818 — Wed, 31 Dec 2014 01:17:46 GMT

@Anonymous wrote:
@waters wrote:
Minimum payments are all you need to get the guaranteed credit steps cli... However.. It's rare for anybody to only get what's in the email..

Most people get $1000-$3000....with that said, if your payment history shows just minimum payments you might have jeopardized that higher potential limit.

I just received the QS1 card with a 3k starting CL and they set me up on credit steps. I plan on using the card heavily (for the cash rewards). I just got it yesterday and have already spent 1800 towards January bills! I plan on paying off about 95% monthly. Do you think there is still a potential for me to get 3000 CLI in 6 months?

Yes. You will be fine. Just don't pay minimum.

Re: Capital One Credit Steps CLI

tiffjtiffj — Wed, 31 Dec 2014 02:16:51 GMT

You should be fine ... That said, I started with $300 paying up to $4g's in the 5 months and still only received $200. I really don't know what I did wrong, mabye it was baddies on my report. But good luck to you!! I hope to read about your success.

Re: Capital One Credit Steps CLI

Anonymous — Tue, 21 Apr 2015 14:48:41 GMT

Hi tiffjtiffj,

I know this is an old thread, but I'm looking for a little guidance/advice and your situation may be similar to mine.

I too started out with 2 Capital One cards, each with $300 limit, with the promise to increase to $500 after 6 months. I just made my 4th payment and hit the luv button. I received the "2-3 day" notice, which, according to several posters on myFICO, means a denial.

I read your post about your experience with Credit Steps and I get the feeling that may be my similar experience... I pay in full every month and have paid almost $3k in my 4 months. I pray I get more than an increase to $500. I'm also 5 months post BK 7 discharge, so that may have some bearing on their decision.

Did you ever follow up with them and ask why they didn't give you more than the minimum?

Anyone have any advice on what to do about the "2-3 days" message?

Thanks!

Re: Capital One Credit Steps CLI

Anonymous — Tue, 21 Apr 2015 15:06:32 GMT

@Anonymous wrote:
Hi tiffjtiffj,

I know this is an old thread, but I'm looking for a little guidance/advice and your situation may be similar to mine.

I too started out with 2 Capital One cards, each with $300 limit, with the promise to increase to $500 after 6 months. I just made my 4th payment and hit the luv button. I received the "2-3 day" notice, which, according to several posters on myFICO, means a denial.

I read your post about your experience with Credit Steps and I get the feeling that may be my similar experience... I pay in full every month and have paid almost $3k in my 4 months. I pray I get more than an increase to $500. I'm also 5 months post BK 7 discharge, so that may have some bearing on their decision.

Did you ever follow up with them and ask why they didn't give you more than the minimum?

Anyone have any advice on what to do about the "2-3 days" message?

Thanks!

Just put my input in there. i started with similar scores as you and baddies ($584 not paid yet reporting) and other 2 charges off. I had a $500 Platnium in credit steps. I ran my card up to the max on 2 statements and 2 statements with $0. I hut the luv button before credit steps and got an extra $1000. i did have previous relationship with capital ,which could be the reason, hard to say. Most people i have read get more than the minium on credit steps or at least get credit steps plus the luv button. so it could be to soon because of the bk7, but many factors could play in.

Re: Capital One Credit Steps CLI

tiffjtiffj — Wed, 22 Apr 2015 19:52:10 GMT

And yes, they suckered me in on a second card !!

Re: Capital One Credit Steps CLI

tiffjtiffj — Wed, 22 Apr 2015 19:50:11 GMT

@Anonymous wrote:
Hi tiffjtiffj,

I know this is an old thread, but I'm looking for a little guidance/advice and your situation may be similar to mine.

I too started out with 2 Capital One cards, each with $300 limit, with the promise to increase to $500 after 6 months. I just made my 4th payment and hit the luv button. I received the "2-3 day" notice, which, according to several posters on myFICO, means a denial.

I read your post about your experience with Credit Steps and I get the feeling that may be my similar experience... I pay in full every month and have paid almost $3k in my 4 months. I pray I get more than an increase to $500. I'm also 5 months post BK 7 discharge, so that may have some bearing on their decision.

Did you ever follow up with them and ask why they didn't give you more than the minimum?

Anyone have any advice on what to do about the "2-3 days" message?

Thanks!

Hi 700in2015,

If I remember correctly Cap1 gave me the "due to your current credit profile" as to why I got the minimum. Seeing that I do have baddies that are 6 years old, I took the response for what it was. The luv button before they issue the credit step was a no go for me as well, but for some on the board it was fine. I just passed my 1yr with and hit the button and got $1000 so maybe I still have to prove myself. That said I no longer use the card as eagerly as before thinking I will be rewarded for it. Since then I was preapproved for a second card for $500(steps $750, I don't expect more than that). I hope your outcome is different, please let me know and good luck!

Tiffanni

Re: Capital One Credit Steps CLI

alexl22 — Wed, 22 Apr 2015 20:17:51 GMT

I just received the minimum on my steps, I ran everything through this card and paid multiple times during each month. I have an email in to the EO office but will call if they dont call me by friday.

Re: Capital One Credit Steps CLI

Anonymous — Wed, 22 Apr 2015 20:37:38 GMT

Thanks Tiffanni! I'll keep you updated.

Re: Capital One Credit Steps CLI

Anonymous — Wed, 22 Apr 2015 20:40:44 GMT

Wow alexl22--

Looking at your scores and card portfolio gives me no hope at all, lol! I max out my cards, but only pay once a month and report under 3% util.

Please update once you hear back from the EO.

Re: Capital One Credit Steps CLI

tiffjtiffj — Thu, 30 Apr 2015 04:16:12 GMT

@Anonymous wrote:
Thanks Tiffanni! I'll keep you updated.

Hey 700in2015,

I just foolishly hit the luv button on my 4th statement (2nd card) and scored $1000 instead of the $250 that was in the credit steps letter. I was just about to close the page as I'm accustomed to denial at this point but it happened.

Re: Capital One Credit Steps CLI

Anonymous — Thu, 30 Apr 2015 07:18:17 GMT

700- I really think your recent bankruptcy is why you got the 2-3 day message. You are going to have to be patient and let it show some positive history - 6 more months. If your limits haven't grown by your 1 year anniversary but your scores have, you may want to consider getting a 2nd card with Cap 1. I know that may not make sense but if you are in any "category" with Cap 1 and apply after your scores increase and more time between the BK discharge, you may have more potential to grow. I have seen that with others on here. DH is 3 yrs post bk and he got a venture card in February with a $10k limit. They already increased it to $13k. He also got the QS card with a $10k limit. Cap 1 is BK friendly once they see positive history.

In November, my scores were 598 when I applied. I had 3 medical collections, 1 old derog and only 1 active credit account. I was approved for $1k which was a shock. I expected $300. I started working on getting those old baddies off and used my card to pay my monthly bills then PIF. I used it weekly and PIF'd every Friday through the end of January. In the mean time I got all but 1 medical collection removed. My scores went up to 650. I hit the request button in February and my limit increased to $3k! My 6th statement will cut next week and then I will get my "steps" increase. My scores have gone up considerably since I got the card. I am hoping they pull TU like they did when I got the card, they will now see a 750 score.

Keep util low, pay on time and re-establish your credit. It may take time but it will grow!!! Hang in there