topic Re: cap 1 question in Credit Cards

cap 1 question

Anonymous — Mon, 21 Sep 2015 17:17:59 GMT

so i got a plat cap1 and a qs1 and had them for about a month how long do i need to have them before i can do a PC and cli?

Re: cap 1 question

kdm31091 — Mon, 21 Sep 2015 17:23:02 GMT

Generally you need to show 6 months of history for a CLI. One month is not going to cut it. As far as the PC/upgrade, id say the same thing. Be patient and show history.

Re: cap 1 question

Pway — Mon, 21 Sep 2015 17:25:52 GMT

@Anonymous wrote:
so i got a plat cap1 and a qs1 and had them for about a month how long do i need to have them before i can do a PC and cli?

PC upgrade happens at 6 months. CLI varies, I've gotten increases on all my card at the third statement cut with Capital One.

Re: cap 1 question

68comebackspecial — Tue, 22 Sep 2015 03:40:43 GMT

While I agree there are "general" guidelines regarding this question, please keep in mind everyone's profile is different. Depending on income and perhaps internal credit scoring you may see PC and/or CLI sooner.

After years of eschewing credit cards (only was AU on two of my wife's low limit cards) I applied for a Cap1 Platinum credit steps. After second statement cut I requested and was approved for CLI from $3k to $6k. After about 90 days I requested a PC to Quicksilver and received it.

FYI, I made multiple >$1k transactions and made sure to make multiple large payments to offset that. Also I have several years of on time student loan payments so that may help if they use some kind of internal risk scoring. My scores were not high by any means I can promise you that.

You have to consider the possibility that half the people giving you advice may not have any real data to back up what they say. The best you can do is take the aggregate of what you read and weigh it against what you know about your own credit profile. I certainly wouldn't dissuade you from trying for a CLI if you think you would benefit from it. It's a soft pull, no harm no foul.

Re: cap 1 question

Nova5041 — Tue, 22 Sep 2015 05:28:07 GMT

For new accounts, you can get a CLI after 3 months, then 6 months after. If you in credit steps' then CLI after 3 months, 5 statements and then 6 months after. PC probably after 6 months to a year.

Re: cap 1 question

kt1010 — Tue, 22 Sep 2015 12:31:59 GMT

I was able to get a PC from Platinum MC to QS with no annual fee after 2 months. YMMV.