topic Re: Cap One Credit Steps, but no balance now in Credit Cards

Cap One Credit Steps, but no balance now

Anonymous — Wed, 03 Jun 2015 21:31:11 GMT

I received an email from Capital One stating that if I pay at least $125/ mo for the next 6 months I would get a $500 CLI ($2000->$2500). I ended up paying it off (about $1700) last week. Does anyone have experience with getting the credit steps email and then not having that minimum payment to pay? I did get a $200 CLI on 4-28 from them. Should I contact the EO and see if I can get the CLI early?

Thanks for any advice!

Re: Cap One Credit Steps, but no balance now

needtodobetter — Thu, 04 Jun 2015 00:04:27 GMT

I received a similar email. Mine said pay at least $100 or the current balance. I plan to put my gas on it and just pay it off every month. That way it is being used and I am paying the current balance, which will like be less than the $100 payment required for the increase.

Congrats and good luck!

Re: Cap One Credit Steps, but no balance now

Anonymous — Thu, 04 Jun 2015 14:44:53 GMT

I got an email a month, or so, after getting my QS1 about credit steps. However, no required minimum payment. They just wanted me to make 6 on-time payments. Cap One has been so generous lately, with the early CLI's and Credit Steps increases on top of that. Perhaps stipulations are being added to CLIs to ensure a dedicated income stream? Hope this makes sense lol

Re: Cap One Credit Steps, but no balance now

Anonymous — Thu, 04 Jun 2015 15:49:46 GMT

I just received my Steps increase and it was the standard "6 on time payments". Is this a new card? Maybe it was due to the high balance and wanting you to pay more than the minimum payment to earn the increase? This is the first I have seen in the forums with that kind of stipulation.

Re: Cap One Credit Steps, but no balance now

Anonymous — Thu, 04 Jun 2015 16:31:44 GMT

The email subjsect was "An Update to your credit line increase". I guess it is not "Credit Steps".

The email states:

Increase your credit line to
$2,500
by paying at least $125 or your current balance on time for your next six monthly payments.

But now I have no current balance! I wonder if I can contact the EO and get the increase early? I also just (a week ago) did a PC to the QS1 from Platinum, but this email was sent May 19th.

Re: Cap One Credit Steps, but no balance now

Anonymous — Thu, 04 Jun 2015 17:47:51 GMT

Interesting email. I have only had my cap1 qs since december. My agreement was initial $1k CL and after 5 timely payments, a cl of $1.5k. I made considerably more than 5 payments, and after reading a few threads here I decided to hit the luv button. It was a soft pull. Instant increase to $3k.

I am not sure what their timing is between CLI's. If it is 90 days, I would probably wait.

Basically what I am saying is, their credit steps appear to be a general guideline. They are to help you out, and as long as you are consistent they work with you.

Re: Cap One Credit Steps, but no balance now

Anonymous — Thu, 04 Jun 2015 17:55:18 GMT

Thanks for the insight Jfriend!