topic Re: Capital One Credit Steps? in Credit Cards

Capital One Credit Steps?

mocha82 — Sun, 24 Apr 2011 11:18:33 GMT

I was approved for a Capital One Stadard Platinum card with a $300 limit yesterday. However, I am wondering if I will automatically be enrolled into credit steps or if that is only available for certain accounts or certain cards. I called and the rep said that he doesn't see the option on my account as of yet. If I don't have the credit steps option, I don't want to be stuck with this low limit card... I already have their secured card and a Orchard Bank card w/ a $300.00 limit. Has anyone ever received a card and they tell you that you aren't eligible for credit steps?

Re: Capital One Credit Steps?

tbolt2 — Sun, 24 Apr 2011 12:56:41 GMT

My scores are very similar to your current scores. Cap1 notified me 30 days after getting approved that I was in the Credit Steps program. It's automatic according to the letter I received.

Re: Capital One Credit Steps?

LS2982 — Sun, 24 Apr 2011 13:48:42 GMT

@mocha82 wrote:
I was approved for a Capital One Stadard Platinum card with a $300 limit yesterday. However, I am wondering if I will automatically be enrolled into credit steps or if that is only available for certain accounts or certain cards. I called and the rep said that he doesn't see the option on my account as of yet. If I don't have the credit steps option, I don't want to be stuck with this low limit card... I already have their secured card and a Orchard Bank card w/ a $300.00 limit. Has anyone ever received a card and they tell you that you aren't eligible for credit steps?

I'm interested in that card as well. I want to PIF my secured Cap1 card before I apply tho. How long have you had their secured card?

Re: Capital One Credit Steps?

Anonymous — Sun, 24 Apr 2011 14:22:04 GMT

@tbolt2 wrote:
My scores are very similar to your current scores. Cap1 notified me 30 days after getting approved that I was in the Credit Steps program. It's automatic according to the letter I received.

+1 My scores were about the same when I apped for the Cap1 CC back in June of 2010 and I received a letter somewhere between 15-30 days later notifying me that I was in the "Credit Steps Program".

Re: Capital One Credit Steps?

JayRizzo — Sun, 24 Apr 2011 15:54:10 GMT

When you call the Account Specialists or Sr. Account Managers via the back door numbers, just ask if they can take a close look at the account features section to see if it's enrolled in the credit steps program. Somehow, CSRs don't check this particular section often, therefore, will not have the answers unless you specifically tell them to check the account features section to confirm. It's sad that customers must communicate instructions, but as long as we know about it.

Re: Capital One Credit Steps?

Anonymous — Sun, 24 Apr 2011 16:48:00 GMT

I just used the instant message feature on captial one's website to talk to a representative. Just had to verify some info and they can tell you whatever you need to know about your account.

Re: Capital One Credit Steps?

LS2982 — Sun, 24 Apr 2011 17:18:50 GMT

What is this xredit steps program im hearing about??? How does it work??

Re: Capital One Credit Steps?

torry590 — Sun, 24 Apr 2011 17:28:19 GMT

I have a capital one card that I opened last month. The program is that if you use the card at least once, stay below your limit, and make all your payments on time by the due date stated on your bill you will see a Credit Limit Increase of 200-250 on your 7th billing statement The 300 dollar cards get the 200 increase to 500, and my boyfriends 500 dollar card got the 250$ increast to 750$. Anything after that is very rare and random, there is no logic to it.

Re: Capital One Credit Steps?

LS2982 — Sun, 24 Apr 2011 17:30:49 GMT

@torry590 wrote:
I have a capital one card that I opened last month. The program is that if you use the card at least once, stay below your limit, and make all your payments on time by the due date stated on your bill you will see a Credit Limit Increase of 200-250 on your 7th billing statement The 300 dollar cards get the 200 increase to 500, and my boyfriends 500 dollar card got the 250$ increast to 750$. Anything after that is very rare and random, there is no logic to it.

That doesnt seem like a real good program, only one CLI then its all random and rare. I want this card too, I dunno now.

Re: Capital One Credit Steps?

torry590 — Sun, 24 Apr 2011 18:44:33 GMT

It is a great card to build history, Capital one is probably the best builder or rebuilder card out there. They are not hard to talk to about waiving any annual fees, my annual fee is only 19$ and they waived it for the first year. Much Much better than first premier bank or HSBC (orchard bank, household bank). Customer service is alright, not the best but better than most of those companies I listed. Credit one is okay, but they charge many many fees just like first premier. I would try for it, hold onto it until you get a better prime card and then close it if you do not want it any more or if they will not waive the annual fee.

Re: Capital One Credit Steps?

LS2982 — Sun, 24 Apr 2011 18:59:06 GMT

@torry590 wrote:
It is a great card to build history, Capital one is probably the best builder or rebuilder card out there. They are not hard to talk to about waiving any annual fees, my annual fee is only 19$ and they waived it for the first year. Much Much better than first premier bank or HSBC (orchard bank, household bank). Customer service is alright, not the best but better than most of those companies I listed. Credit one is okay, but they charge many many fees just like first premier. I would try for it, hold onto it until you get a better prime card and then close it if you do not want it any more or if they will not waive the annual fee.

I may do that. I wanna PIF on my secure card and wait until EQ gets rid of the errors on my report first. FP does have a lot of fees but I didnt have much of a choice for CC rebuilding

Re: Capital One Credit Steps?

JayRizzo — Sun, 24 Apr 2011 19:28:46 GMT

Just a wee bit of advice... if you need specific account information, do not use the website's chat session to communicate and verify your personal account information.

Also, not all accounts are enrolled into the Credit Steps program and it's not always 7-months, YMMV (range 3, 5, or 7 months) and the amounts also vary (200, 250, or 500).

Re: Capital One Credit Steps?

mocha82 — Sun, 24 Apr 2011 20:54:56 GMT

I applied for the card on 02/23/2011. Customer care says that the account was established as of 03/05/2011. My scores at the time were around the same. EQ 595 and TR 574.

@LS2982 wrote:

@mocha82 wrote:
I was approved for a Capital One Stadard Platinum card with a $300 limit yesterday. However, I am wondering if I will automatically be enrolled into credit steps or if that is only available for certain accounts or certain cards. I called and the rep said that he doesn't see the option on my account as of yet. If I don't have the credit steps option, I don't want to be stuck with this low limit card... I already have their secured card and a Orchard Bank card w/ a $300.00 limit. Has anyone ever received a card and they tell you that you aren't eligible for credit steps?
I'm interested in that card as well. I want to PIF my secured Cap1 card before I apply tho. How long have you had their secured card?

Re: Capital One Credit Steps?

mocha82 — Sun, 24 Apr 2011 20:57:29 GMT

@JayRizzo wrote:
When you call the Account Specialists or Sr. Account Managers via the back door numbers, just ask if they can take a close look at the account features section to see if it's enrolled in the credit steps program. Somehow, CSRs don't check this particular section often, therefore, will not have the answers unless you specifically tell them to check the account features section to confirm. It's sad that customers must communicate instructions, but as long as we know about it.

Yes I spoke to a Sr. Account Manager who said that the feature wasn't there. I'm just hoping that the account hadn't been fully set up as of yet b/c at the time when I called I had just got approved within the past 3 hours.

Re: Capital One Credit Steps?

mocha82 — Tue, 26 Apr 2011 03:01:43 GMT

@mocha82 wrote:
@JayRizzo wrote:
When you call the Account Specialists or Sr. Account Managers via the back door numbers, just ask if they can take a close look at the account features section to see if it's enrolled in the credit steps program. Somehow, CSRs don't check this particular section often, therefore, will not have the answers unless you specifically tell them to check the account features section to confirm. It's sad that customers must communicate instructions, but as long as we know about it.
Yes I spoke to a Sr. Account Manager who said that the feature wasn't there. I'm just hoping that the account hadn't been fully set up as of yet b/c at the time when I called I had just got approved within the past 3 hours.

Update: I called the customer service line and it was confirmed that I was enrolled in the credit steps program. The rep told me that I would get up to a $500 CLI on my 7th statement! Yay!!!