topic Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card? in Credit Cards

Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

Gonzozap — Sat, 15 Jun 2019 04:02:50 GMT

Wondering about others' experience with this scenario.

I have 2 cards from Cap1 that I got when I initially began rebuilding. Started at a 500 limit. When I try to get CLIs, they only give me $100 or $200 dollars - but once I did get an automatic $500 CLI.

Never late, balance kept low or zero. Scores now over 760. But in trying to get a regular card, I am denied for crappy reasons no other lender uses. e.g., inquiries (6 in 15 months), recent accounts opened, etc.

I'm wondering if when Cap1 places cardholders in that "once bad credit tier," they are permanently stuck there and can never get a regular, high limit card.

Anyone experience this?.

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

Anonymous — Sat, 15 Jun 2019 04:18:17 GMT

Nope, they don't bucket people they bucket cards. Plenty of instances of that around here. However once you hit a certain point in your journey such as the position you're in right now you have to decide if you want to be bothered with your crap cards or cut them loose and move on.

I had a $1500 carry over from the old HSBC days before the meltdown and it would never move. I killed it off 2 years ago and haven't looked back. On the flip side collecting free money became somewhat of a hobby and Savor came onto my radar for $500 and well, too good at collecting card approvals is a double edged sword. Denied twice w/ 800's and clean reports.

If they can't make money off your spending habits you're not going to get anywhere with them. They're robots when it comes to things like approvals or a CLI. No recon, no discussion, nothing.

Since cutting them loose and concentrating on better options I've added 15/24 and 2.5X my TCL.

TLDR.... if you're not rebuilding or new to credit Cap1 prefers not to work with you

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

CreditInspired — Sat, 15 Jun 2019 10:01:39 GMT

@Gonzozap wrote:
Wondering about others' experience with this scenario.

I have 2 cards from Cap1 that I got when I initially began rebuilding. Started at a 500 limit. When I try to get CLIs, they only give me $100 or $200 dollars - but once I did get an automatic $500 CLI.

Never late, balance kept low or zero. Scores now over 760. But in trying to get a regular card, I am denied for crappy reasons no other lender uses. e.g., inquiries (6 in 15 months), recent accounts opened, etc.

I'm wondering if when Cap1 places cardholders in that "once bad credit tier," they are permanently stuck there and can never get a regular, high limit card.

Anyone experience this?.

Yep, your Cap 1 card is bucketed so it’s really going to remain stagnant. And yes, other lenders do indeed deny credit for too many inqs and recent accounts opened.

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

stonedog23 — Sat, 15 Jun 2019 10:47:24 GMT

The OP’s reasons for denial are more reasonable than the Cap 1 credit increase denials I have gotten. I get balances are too high for income, despite only 10% usage across the board, not enough use of the card despite them saying I use too much credit, or just plain not eligible. Mine started at $1000 and a $500 increase at 6 statements. I used that card the other day to break into my laundry room.

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

Gonzozap — Sat, 15 Jun 2019 12:40:38 GMT

@CreditInspired wrote:
@Gonzozap wrote:
Wondering about others' experience with this scenario.

I have 2 cards from Cap1 that I got when I initially began rebuilding. Started at a 500 limit. When I try to get CLIs, they only give me $100 or $200 dollars - but once I did get an automatic $500 CLI.

Never late, balance kept low or zero. Scores now over 760. But in trying to get a regular card, I am denied for crappy reasons no other lender uses. e.g., inquiries (6 in 15 months), recent accounts opened, etc.

I'm wondering if when Cap1 places cardholders in that "once bad credit tier," they are permanently stuck there and can never get a regular, high limit card.

Anyone experience this?.
Yep, your Cap 1 card is bucketed so it’s really going to remain stagnant. And yes, other lenders do indeed deny credit for too many inqs and recent accounts opened.

I'm not a complete novice with credit. I realize lenders deny for too many inquiries, AAoA, new accounts, etc. I am only focusing on my situation. I do not have too many inquiries or too many recent accounts, at least not in the eyes of other lenders. Not even Chase would think I have too many accounts in the last 24 months. I tend to believe it's an "excuse" denial.

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

Gonzozap — Sat, 15 Jun 2019 12:44:56 GMT

@Anonymous wrote:
Nope, they don't bucket people they bucket cards. Plenty of instances of that around here. However once you hit a certain point in your journey such as the position you're in right now you have to decide if you want to be bothered with your crap cards or cut them loose and move on.

I had a $1500 carry over from the old HSBC days before the meltdown and it would never move. I killed it off 2 years ago and haven't looked back. On the flip side collecting free money became somewhat of a hobby and Savor came onto my radar for $500 and well, too good at collecting card approvals is a double edged sword. Denied twice w/ 800's and clean reports.

If they can't make money off your spending habits you're not going to get anywhere with them. They're robots when it comes to things like approvals or a CLI. No recon, no discussion, nothing.

Since cutting them loose and concentrating on better options I've added 15/24 and 2.5X my TCL.

TLDR.... if you're not rebuilding or new to credit Cap1 prefers not to work with you

Not losing any sleep over Cap1. It's just curiosity. I don't need their card or any card at all. I have a boatload of great cards with nice limits. More trying to understand how they think.

Prefer not to cancel the cards right now since they help my AAoA. They were the 1st cards I got when I began rebuilding. No annual fees, so no harm done.

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

Anonymous — Sat, 15 Jun 2019 12:56:31 GMT

@Gonzozap wrote:
@Anonymous wrote:
Nope, they don't bucket people they bucket cards. Plenty of instances of that around here. However once you hit a certain point in your journey such as the position you're in right now you have to decide if you want to be bothered with your crap cards or cut them loose and move on.

I had a $1500 carry over from the old HSBC days before the meltdown and it would never move. I killed it off 2 years ago and haven't looked back. On the flip side collecting free money became somewhat of a hobby and Savor came onto my radar for $500 and well, too good at collecting card approvals is a double edged sword. Denied twice w/ 800's and clean reports.

If they can't make money off your spending habits you're not going to get anywhere with them. They're robots when it comes to things like approvals or a CLI. No recon, no discussion, nothing.

Since cutting them loose and concentrating on better options I've added 15/24 and 2.5X my TCL.

TLDR.... if you're not rebuilding or new to credit Cap1 prefers not to work with you
Not losing any sleep over Cap1. It's just curiosity. I don't need their card or any card at all. I have a boatload of great cards with nice limits. More trying to understand how they think.

Prefer not to cancel the cards right now since they help my AAoA. They were the 1st cards I got when I began rebuilding. No annual fees, so no harm done.

Closing a card will not affect your Average Age of Accounts. An account closed in good standing will remain on your credit report for up to ten years. When the account is eventually dropped after 10 years, your other accounts would have aged for a similar amount of time so the effect is negligible or none at all.

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

pinkandgrey — Sat, 15 Jun 2019 13:46:18 GMT

No, it’s the CARD that’s stuck. People can move on and get a HUGE limit from Cap One later via a Savor, Venture, or any prime card. The PERSON doesn’t get bucketed.

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

Shooting-For-800 — Sat, 15 Jun 2019 15:25:39 GMT

Cards are bucketed but not clients.

My first card after starting rebuild was $3,000 platinum 4 years later I got a $30,000 venture.

My single highest CLI with Cap One was $8,000 going from $3,500 to $11,500.

Some people on here have grown bucketed cards over a period of 3-5 years but it is much easier to just apply for a new better card.

If your score is dramatically better now than it was when you opened your started cards, you should be able to get a nice card with a nice SL.

Check prequals for Venture. If you prequal for Venture, any new card you get should have a nice limit.

GL!

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

Gonzozap — Sat, 15 Jun 2019 15:28:27 GMT

@Anonymous wrote:
@Gonzozap wrote:
@Anonymous wrote:
Nope, they don't bucket people they bucket cards. Plenty of instances of that around here. However once you hit a certain point in your journey such as the position you're in right now you have to decide if you want to be bothered with your crap cards or cut them loose and move on.

I had a $1500 carry over from the old HSBC days before the meltdown and it would never move. I killed it off 2 years ago and haven't looked back. On the flip side collecting free money became somewhat of a hobby and Savor came onto my radar for $500 and well, too good at collecting card approvals is a double edged sword. Denied twice w/ 800's and clean reports.

If they can't make money off your spending habits you're not going to get anywhere with them. They're robots when it comes to things like approvals or a CLI. No recon, no discussion, nothing.

Since cutting them loose and concentrating on better options I've added 15/24 and 2.5X my TCL.

TLDR.... if you're not rebuilding or new to credit Cap1 prefers not to work with you
Not losing any sleep over Cap1. It's just curiosity. I don't need their card or any card at all. I have a boatload of great cards with nice limits. More trying to understand how they think.

Prefer not to cancel the cards right now since they help my AAoA. They were the 1st cards I got when I began rebuilding. No annual fees, so no harm done.
Closing a card will not affect your Average Age of Accounts. An account closed in good standing will remain on your credit report for up to ten years. When the account is eventually dropped after 10 years, your other accounts would have aged for a similar amount of time so the effect is negligible or none at all.

That's interesting MaizeandBlue. That's what I thought at one point also. But I canceled a card about a yr ago and my score dropped a bit AND my AAoA went down. I could only equate it to that. I'm confused now.

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

HeavenOhio — Sat, 15 Jun 2019 15:37:08 GMT

@Gonzozap, don't get your age stats from Credit Karma. Both FICO and VantageScore consider the average age of all accounts, open and closed. Karma gives you the average age of open accounts.

When closing an account, figure on FICO either remaining the same or dropping a wee bit.

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

Gonzozap — Sat, 15 Jun 2019 15:37:59 GMT

@pinkandgrey wrote:
No, it’s the CARD that’s stuck. People can move on and get a HUGE limit from Cap One later via a Savor, Venture, or any prime card. The PERSON doesn’t get bucketed.

That's the point I was trying to make. I did apply for a prime card with no luck (2x). Maybe they just don't like me. Again, not losing sleep over it. Just curious about the experience of others.

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

Gonzozap — Sat, 15 Jun 2019 15:38:52 GMT

@Shooting-For-800 wrote:
Cards are bucketed but not clients.
My first card after starting rebuild was $3,000 platinum 4 years later I got a $30,000 venture.
My single highest CLI with Cap One was $8,000 going from $3,500 to $11,500.
Some people on here have grown bucketed cards over a period of 3-5 years but it is much easier to just apply for a new better card.
If your score is dramatically better now than it was when you opened your started cards, you should be able to get a nice card with a nice SL.
Check prequals for Venture. If you prequal for Venture, any new card you get should have a nice limit.

GL!

Thx. I have tried the prequal a few times. Zilch !!!

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

Petit3tee — Sun, 16 Jun 2019 13:30:12 GMT

I also started with cap1 back in 2011 when I rebuild. Somehow I ended up opening 2 platinums (they're 15 days apart). Maybe I missed the response the first time around and re-apped thinking the first one didn't go through. Anyhow, the very first one did grow up to $4800 (now venture1) but the second one gets stuck at $850 and AF. I was on the phone with CS last week to PC it to something else and he even told me last CLI was 4 years ago! I put my Pandora subscroption on that card so it's active but still couldn't get the CL increased...

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

Anonymous — Sun, 16 Jun 2019 16:18:44 GMT

After my BK was discharged I applied for a Capital One Secure Card and my limit was $200 and increased to $600 five months later. By the 6th month I applied to Credit One and received $1,500 and Capital One Quick Silver and received $6,000, and 6 months later my limit was raise to $10,000 and I applied to a Venture Card and was instantly approved for $10,000. Mind you my secure card is stuck at $600 and Credit One is stuck at $1500

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

Meanmchine — Sun, 16 Jun 2019 21:14:16 GMT

My favorite Cap1 denial reason is

· A credit limit increase is currently not available upon request because Capital One is evaluating account activity at assigned credit limits.

They are trying to scare me into using the card more.

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

stonedog23 — Sun, 16 Jun 2019 21:31:46 GMT

Cap 1 has bucketed my card which I have accepted and no longer care about. But they don’t like my profile period. Upon doing the prequal, I’m not even eligible for the card I actually have with them, the bucketed QS. The results return their worse cards, the Platinum and the QS1. I was turned down for QS last year.

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

FireMedic1 — Sun, 16 Jun 2019 22:49:50 GMT

Here's different way to look at it. How many people have a Credit One, First Premiere, Open Sky and all the other starter subprime cards for life and have 10-15 thousand CL? I haven't seen any. None. They are out there to get you started and thats it. They will never be a life long card. I had to start with the buckets Plat/QS and QS1. But once they aged. Here came QS, Venture and Savor all at $10k+ approvals. So long starters. Closed. They are a stepping stone up the ladder to bigger and better things and thats it.

This will always come up as it has over the years on why starters dont grow like prime cards do. Yeah Cap1 triple pulls. Some double. But times flies and all 5 of the the inq's I got from Cap1 with them are gone. To get all 5 cards and end up with 3 of their prime cards. Its the price you have to pay to get to the top tier cards. If you expect any starter card to be your top dog for life. Not gonna happen. Use them for what they were intended to do. Kick start and move on.

Remember. Its the card and not the person. Unless your scores dictate otherwise. So yes I graduated to answer the OP.

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

Guyatthebeach — Mon, 17 Jun 2019 01:00:37 GMT

A year or so after my bankruptcy was discharged, I was approved for CapitalOne Quicksilver cad with a 1500 credit limit. About five years later after a few PC’s and CLI’s also including an account combination, I have a Savor card with a 24000 limit and no annual fee.

It can be done, it just takes time, card use, and a little persistence.

Guyatthebeach

Re: Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

Gonzozap — Mon, 17 Jun 2019 01:52:24 GMT

@FireMedic1 wrote:
Here's different way to look at it. How many people have a Credit One, First Premiere, Open Sky and all the other starter subprime cards for life and have 10-15 thousand CL? I haven't seen any. None. They are out there to get you started and thats it. They will never be a life long card. I had to start with the buckets Plat/QS and QS1. But once they aged. Here came QS, Venture and Savor all at $10k+ approvals. So long starters. Closed. They are a stepping stone up the ladder to bigger and better things and thats it.

This will always come up as it has over the years on why starters dont grow like prime cards do. Yeah Cap1 triple pulls. Some double. But times flies and all 5 of the the inq's I got from Cap1 with them are gone. To get all 5 cards and end up with 3 of their prime cards. Its the price you have to pay to get to the top tier cards. If you expect any starter card to be your top dog for life. Not gonna happen. Use them for what they were intended to do. Kick start and move on.

Remember. Its the card and not the person. Unless your scores dictate otherwise. So yes I graduated to answer the OP.

I think posters are missing my point. I'm not expecting a subprime card to grow to a $10k limit. Hence why I used the term "graduated" from.

As I stated, I applied for the upper tier, regular cards and have been denied. I only mentioned the small increases in the limits for the subprime cards "as part of the story."

I don't know that we can be absolutely certain about a bank's credit policy. We can surmise, but we do not know.

Before I tried to get back in with Cap1, they sued me over a debt. I wonder if a prior lawsuit stays on my SS# and so disqualifies me for a better card. It wouldn't be that surprising to me if it actually can be "the person."