topic Re: Capital One cards in Credit Cards

Capital One cards

jayjayhawaii — Thu, 30 Aug 2018 01:06:29 GMT

Hi all,

Quick question about Capital One. I see discussions on different "tiers" of Capital One cards, ones that grow, and ones that see very limited growth and max out around $2k. For example, a secured card that was first acquired while rebuilding won't grow like i.e. a Venture card that was acquired with a 750 score.

The question pertains to my Quicksilver card. It was originally a $200 secured card, CLI'd to $500 after 5 months, then graduated to Cap1 Platinum on the 11th statement. I recently PC'd that platinum card to a Quicksilver. Will this Quicksilver card still be considered in the same "rebuilding bucket" or can I expect it to grow like other Quicksilver cards with decent CLIs once in a while?

I plan to also combine my QS1 into the QS in October.

Re: Capital One cards

Anonymous — Thu, 30 Aug 2018 01:30:28 GMT

im wondering the same my secured card recently unsecured then the next week i pc'd it to a quicksilver with no af so now im waiting to see if they will give a cli on it

Re: Capital One cards

pinkandgrey — Thu, 30 Aug 2018 01:31:28 GMT

Obviously every situation is different, but in my experience, Cap One starter cards rarely grow. I had a Platinum unsecured as my first credit card. It started at 300, I got two CLIs, and then nothing. It never got above 1000. I did PC it to a Quicksilver, but nothing changed for a long time. The card you start with seemingly will always be a credit limit dud.

Re: Capital One cards

FinStar — Thu, 30 Aug 2018 01:45:06 GMT

OP, when certain products are originated based on an overall profile at a specific point in time, yes they would be considered "bucketed" regardless whether they can be PC'd to a different product. The actual product code(s) follow it for as long as that product is active. It is no surprise that when an individual has a much better or optimal profile later in their credit journey, that better terms are typically assigned inclusive of APR, SL, and/or targeted promotions.

Most lenders have these kinds of "buckets" depending on their lending portfolios. BoA, Chase, WF, PNC, Barclays, Discover have them as well. Capital One just happens to be prominent in this area for consumer lending products.

Re: Capital One cards

Brian_Earl_Spilner — Thu, 30 Aug 2018 01:53:59 GMT

They can grow, just not like a non-starter card. I got my qs1 about 4 years ago with a SL of $300. Credit steps took it to 500 and a requested CLI took it to 800. It sat at that for about 2 years. Since cap1 likes to see a pattern of heavy use, I used it recently for 3 full statements exclusively and heavily. 2 days after my statement cut I requested a CLI and they upped me to $1400 after 2 years of nothing. I decided to try it on my new platinum and got an additional $250 over my credit steps increase. I also PC'd it 4 month's in to a qs. I'm fairly confident that heavy use is the key.

Re: Capital One cards

pip3man — Thu, 30 Aug 2018 02:19:15 GMT

Long story short, your card will always remain mainstream so that means don’t expect much growth. Also keep in mind, when you PC, changes are only made to the reward structure and nothing really changes in the original terms and condition u were approved under. Those are set and determined at the time your card is booked upon approval. Simply put it this way, product changes are like cosmetic plastic surgery that may alter or enhance your physical appearance but at the end of the day you are still the same individual internally.

Re: Capital One cards

SweetCreditObsession — Fri, 14 Sep 2018 04:13:38 GMT

The card is still bucketed although you got to PC it. Open a new card once your profile improves and it will have a better SL and see more significant growth

Re: Capital One cards

Anonymous — Fri, 14 Sep 2018 05:25:46 GMT

My Cap1 experience is this. Started as a Platinum with a very low limit, 300 I think. Went thru credit steps, ran A LOT of money through it every month. Paid several times a month and always PIF. I got an offer to PC it to QS One and the CLIs kept coming as I would request them.

It currently sits at a $7,500 limit. That's the max I asked for last time. 90 days from that CLI I will do another.

This all happened over about 3.5 years.

I wouldn't worry that it won't grow. Just be patient and use it wisely, and keep clicking the CLI button every 61-90+ days.

Re: Capital One cards

FireMedic1 — Fri, 14 Sep 2018 08:36:26 GMT

Your post is almost identical to mine back in 2015. Yes combine once you meet the qualifications to do so. Use it and PIF each month. In time. Then apply by checking the prequal for the QS. This how I did it. Then came Venture and then Savor. QS1 went to Plat/QS. Once I got the WEMC QS Plat/QS was closed. 12/15 I was 2000, three yrs later 36k. Good Luck