topic Re: CAP One bucketed forever? in Credit Cards

CAP One bucketed forever?

Anonymous — Wed, 16 Jan 2019 18:04:56 GMT

Hi all,

I've read a little on the forums regarding Cap one bucketing, and I realize that I'm in that category as my credit was garbage a couple of years ago when I started my rebuild. Cap One was my first approval, went throug credit steps and still sitting at whopping 500 bucks with no increase in a year. The last several times I requested an increase, I got denials with the reason being: "We were unable to obtain your most recent payment data from the credit reporting agency."

This was after I decline several offers of a paltry $100 increase.

Sounds like a truckload of BS to me; anyone else received this message from Cap One?

Re: CAP One bucketed forever?

Anonymous — Wed, 16 Jan 2019 18:33:01 GMT

Lol. I just closed mine after 3 months. Maybe my biggest mistake during rebuild.

Re: CAP One bucketed forever?

Anonymous — Wed, 16 Jan 2019 19:25:08 GMT

Yeah, I've received that message from Cap One many times. The last CLI I got from them had to be performed via manual review since their automated systems (online, phone) would not work for my account.

Yes, you are no doubt bucketed with a "starter" account. If you want a higher limit Cap One card, you're going to have to apply for a new product.

Re: CAP One bucketed forever?

AverageJoesCredit — Wed, 16 Jan 2019 19:57:41 GMT

🎵3 Times (hp) A Lady🎶....

Re: CAP One bucketed forever?

Anonymous — Wed, 16 Jan 2019 20:34:36 GMT

AJC - they reported the closed to Experian. Lost 5 points. Lol. 🤦‍♂️

Re: CAP One bucketed forever?

Anonymous — Wed, 16 Jan 2019 20:38:40 GMT

I once had a card from cap1,
but they put me in a bucket.
So when it was time,
for a new credit line.
I just said....

It's a limerick so use your imagination.

Re: CAP One bucketed forever?

Anonymous — Wed, 16 Jan 2019 20:43:18 GMT

Honestly, don't know if I'd be interested in another card from cap 1 after I close these; I have a cash back card from Navy Fed, that does the same job. No hard feelings against cap one as they served their purpose. Not quite ready to close my oldest card yet though; will likely SD for a while then close after my AAoA recovers from my recent AMEX apps and car loan.

@Anonymous wrote:
Yeah, I've received that message from Cap One many times. The last CLI I got from them had to be performed via manual review since their automated systems (online, phone) would not work for my account.

Yes, you are no doubt bucketed with a "starter" account. If you want a higher limit Cap One card, you're going to have to apply for a new product.

Re: CAP One bucketed forever?

NRB525 — Wed, 16 Jan 2019 20:45:10 GMT

I would take the 100 CLI as offered.

Over time, as you gain history with CapOne this specific card may find a low ceiling, but your next app for another CapOne card should see a larger CL.

Bucketing refers to the card, not the cardholder.

Re: CAP One bucketed forever?

LandoCredrissian — Wed, 16 Jan 2019 21:22:50 GMT

I received that message last year while attempting a CLI prior to credit steps completion on a QS1. I have a $300 Platinum in steps set to graduate in April. I plan to CLI before steps completion for the $100 increase. Regardless, I'll upgrade the Plat to QS and merge the QS1 into it. Bucket or no bucket, I'm glad not to have gone the secured route in my rebuild. What's in your...bucket

Re: CAP One bucketed forever?

pinkandgrey — Wed, 16 Jan 2019 21:59:46 GMT

Ah the notorious Cap1 bucket. Unfortunately yes, you probably won’t be able to claw your way out of this particular bucket. If you want more money from Cap1, you’ll have to get a new card. I closed my starter card from Cap1 after I got better cards.
Good luck!

Re: CAP One bucketed forever?

Anonymous — Wed, 16 Jan 2019 22:57:49 GMT

FWIW, Cap One's card portfolio really isn't very impressive. Outside of their starter cards, there isn't much to them. I guess arguments can be made here and there for cards like the Savor, but for most of their products there's easily a competitor product out there that's "better" under most circumstances.

I have never had any desire at all to app for a second Cap One card and I'm one of those guys that only has a "starter bucket" card that I got when I was rebuilding and had a 619 score. I could probably get approved with a $20k+ limit from them today depending on which card I applied for, but none of them have any appeal whatsoever to me.

Re: CAP One bucketed forever?

Joecooltech — Wed, 16 Jan 2019 23:46:27 GMT

I have a platinum card that got converted to a qs card I have pushed 15k through the card in a year with a 1k limit. I still can't get them to give me a cli

Re: CAP One bucketed forever.

Joecooltech — Wed, 16 Jan 2019 23:47:09 GMT

I have a platinum card that got converted to a qs card I have pushed 15k through the card in a year with a 1k limit. I still can't get them to give me a cli

Re: CAP One bucketed forever.

Anonymous — Thu, 17 Jan 2019 02:28:53 GMT

There is one way that I know of to get around the starter bucket and to my knowledge I may be the only forum member that has done this. Basically what you need to do is call up the EO and tell them that for whatever reason you can't initiate a CLI through either their online method or phone system. Simply tell them that you keep getting an error message. The EO at that point can make the decision to do a "manual review" for the CLI... which basically takes the computer and bucket you're in out of the equation. With a human being looking at those numbers above, I have little doubt that a CLI would be granted if you were using > 100% of your limit on average over the course of a year.

This was the only way that I was able to get a CLI while in a starter bucket with Cap One.

Re: CAP One bucketed forever.

Anonymous — Thu, 17 Jan 2019 02:53:52 GMT

I got my first Capital One card (after burning them 7 years ago) which was a Platinum for $500 SL. It's been over a year and a half and it's now a Quicksilver with a $2250 limit (the most recent CLI they gave me was an auto for $1k increase). So they have been giving me credit increases even though I started off with not so hot credit.

Re: CAP One bucketed forever?

Anonymous — Thu, 17 Jan 2019 09:09:59 GMT

@Anonymous wrote:
I once had a card from cap1,
but they put me in a bucket.
So when it was time,
for a new credit line.
I just said....

It's a limerick so use your imagination.

Cap1 helped me restart. However, they bucketed me with a $250, $500 & $750 credit limit and never an increase after. Many years later I realized that Cap1 would not budge so I closed my account and moved on. No, I was not interested in taking a three credit bureau hit for a new card which would potentially solve my bucketed dilema (at that point I figured it out, I had already acquired great cards from other financial providers and just moved on)!

Re: CAP One bucketed forever?

Anonymous — Thu, 17 Jan 2019 10:00:14 GMT

When Cap1 offers you a 100 cli you kno that you have been bucketed SORRY

Re: CAP One bucketed forever?

FireMedic1 — Thu, 17 Jan 2019 18:15:04 GMT

This comes up a lot and I usually just read the comments. The Cap1 bucket cards or as I say the starter cards are no different than many other CC's that banks give a person to jump start their credit journey. As it did in my situation. There are a whole lot more folks on this forum without a BK than with one. You can add many secured that dont unsecure CC's. Low limit cards that will never grow to be the best in your wallet. They are there for folks to start to start/build/rebuild their credit and then move up the ladder to the next higest step possible. Some people will go up the ladder steps quickly to the top. And then some that try to go up the backside of the ladder where the steps are far apart and makes it harder to climb.

Cap1's starter cards are not going to be your lifelong best in your wallet card. They are meant to lead to better things after you completed the steps program. They will never be your top cards after moving up the FICO ladder. They will never give out those high CLI's. It is what it is. A starter card. Dont expect a lot out of them. Dont expect huge CLI's. They want you to apply for the top tier cards eventually. Who has a unsecured no fee Credit One card with a CL of 10g's? I had to pay my dues with both starters and it led to bigger and better things. And then they were put to rest. They did what they are named for. Starter cards.

Lastly. If anyone thinks the Plat/QS/QS1 will grow like NFCU, Chase, BoA, Chase, and so on. Its not going to happen. You'll be stuck on the first step on the back side of the ladder. Use them for what they were intended for and move on. Best of luck to all on your rebuilds.

Re: CAP One bucketed forever?

Anonymous — Thu, 17 Jan 2019 20:15:12 GMT

Yes, I figured that out already lol!

@Anonymous wrote:
When Cap1 offers you a 100 cli you kno that you have been bucketed SORRY

Re: CAP One bucketed forever?

Anonymous — Thu, 17 Jan 2019 20:20:18 GMT

Agreed.

I even had a credit one card during my rebuild. closed that one last year.

Six months ago, I didn't figure I would have two AMEX cards, a Navy Fed card, and an auto loan with Navy with such a great rate.

Will make a decision in the next few weeks on keeping open or closed.

Data Points:

Both CAP1 cards are zero balance, as are most of my cards. Aggregate UTI <3%.

Looking forward to breaking into the 700's soon.

@FireMedic1 wrote:
This comes up a lot and I usually just read the comments. The Cap1 bucket cards or as I say the starter cards are no different than many other CC's that banks give a person to jump start their credit journey. As it did in my situation. There are a whole lot more folks on this forum without a BK than with one. You can add many secured that dont unsecure CC's. Low limit cards that will never grow to be the best in your wallet. They are there for folks to start to start/build/rebuild their credit and then move up the ladder to the next higest step possible. Some people will go up the ladder steps quickly to the top. And then some that try to go up the backside of the ladder where the steps are far apart and makes it harder to climb.

Cap1's starter cards are not going to be your lifelong best in your wallet card. They are meant to lead to better things after you completed the steps program. They will never be your top cards after moving up the FICO ladder. They will never give out those high CLI's. It is what it is. A starter card. Dont expect a lot out of them. Dont expect huge CLI's. They want you to apply for the top tier cards eventually. Who has a unsecured no fee Credit One card with a CL of 10g's? I had to pay my dues with both starters and it led to bigger and better things. And then they were put to rest. They did what they are named for. Starter cards.

Lastly. If anyone thinks the Plat/QS/QS1 will grow like NFCU, Chase, BoA, Chase, and so on. Its not going to happen. You'll be stuck on the first step on the back side of the ladder. Use them for what they were intended for and move on. Best of luck to all on your rebuilds.