topic Capital One - Credit Steps in Credit Cards

Capital One - Credit Steps

Anonymous — Thu, 12 May 2011 16:11:08 GMT

My initial credit limit was $300; after my first statement I received a letter saying I am in the credit steps program, and that I am eligible for a $200 CLI on my 7th statement ( a credit line of $500). Note I payed my first statement in full. My question is should I call capital one and ask for a CLI or should I wait until my second statement is generated?

Re: Capital One - Credit Steps

trumpet-205 — Thu, 12 May 2011 16:13:48 GMT

Credit step is automatic CLI. Assuming you pay on time and never went over the limit, you'll get your CLI on 7th statement.

Re: Capital One - Credit Steps

Anonymous — Thu, 12 May 2011 16:18:09 GMT

@trumpet-205 wrote:
Credit step is automatic CLI. Assuming you pay on time and never went over the limit, you'll get your CLI on 7th statement.

Yes that is correct. But would I be able to get a CLI after my first statement or at least before my 7th statement?

Re: Capital One - Credit Steps

trumpet-205 — Thu, 12 May 2011 16:19:52 GMT

Nope. Cap 1 won't give CLI if you ask for it.

Re: Capital One - Credit Steps

Hopelives2 — Thu, 12 May 2011 20:56:36 GMT

@Anonymous wrote:
My initial credit limit was $300; after my first statement I received a letter saying I am in the credit steps program, and that I am eligible for a $200 CLI on my

7th statement

( a credit line of $500).

Note I payed my first statement in full.

My question is should I call capital one and ask for a CLI or should I wait until my second statement is generated?

I don't mean to be snarky; unless I misread something:

you did not pay 6 statements

you do not get auto CLI

one time payment in full does NOT equate to 7 statements strung out over time; you need to wait until that has happened. Sorry. I know of exactly one person on here who got a CLI earlier and she/he paid/pushed through $1000 a month before asking for it.

Re: Capital One - Credit Steps

meka1984 — Thu, 12 May 2011 22:33:27 GMT

Cap One probably will not give you a CLI bc your acct is too new.

I received my first credit step 2 months before I was scheduled too and I didn't PIF. However, I did pay more than the minimum.

Re: Capital One - Credit Steps

Anonymous — Fri, 13 May 2011 01:27:00 GMT

Do you have the Capital One Secured or Unsecured Card?

Re: Capital One - Credit Steps

Anonymous — Fri, 13 May 2011 22:18:29 GMT

@Anonymous wrote:
Do you have the Capital One Secured or Unsecured Card?

Unsecured card

Re: Capital One - Credit Steps

trumpet-205 — Fri, 13 May 2011 22:59:03 GMT

@Anonymous wrote:

@Anonymous wrote:
Do you have the Capital One Secured or Unsecured Card?
Unsecured card

Then unitl credit step is completed, highly doubt you'll get any CLI.

Re: Capital One - Credit Steps

Rvan1961 — Fri, 13 May 2011 23:18:31 GMT

I got Cap One a few years back and it went like this. After 3 months they upped me from $500 to $750. Six months later they upped me again to $1250. I have been at $1250 for almost 6 months, so I expect I will get bumped again soon At the time I got the bump to $1250 I was almost maxed out, so I was kinda surprised. I never called them for a CLI. Some folks say that if you nearly max out, then PIF you get increases faster, we will see.

Re: Capital One - Credit Steps

Anonymous — Sat, 14 May 2011 03:35:50 GMT

On Wed I applied for a no hassle rewards cc with capital one got a 500 limit instantly online..call backdoor number next day spoke to a supervisor and he said he will do a soft pull again to get my limit increase,but got denied. The supervisor said that im on credit steps program..and he told me i will get a CLI double in the next 4-6 months if i pay on time... Fico score was Eq 673 Trans 625 .pulled all 3 reports

Re: Capital One - Credit Steps

meka1984 — Sat, 14 May 2011 05:01:48 GMT

I received a CLI on my last statement and I will receive one again in July. Not sure how the first one got there but I wasn't schedule to receive one until July.

I have confirmed this twice with two Sr. Credit Analyst. My advice is to enroll in auto pay and pay more than your minimum.

Re: Capital One - Credit Steps

JayRizzo — Sat, 14 May 2011 15:35:33 GMT

I see this miscommunication from Capital One's Sr. Account managers sooooooo often that it burns my britches to know they still don't have it together.

Unfortunately, your initial CLI "was" your Credit Steps increase. Somewhere in fine print, it states on the letter that you will receive your CLI after x-statement (*up to x-statement), meaning you may get it before. It's up to their discretion.

Also, there is no rhyme or reason to Cap-1's CLIs -- it's just random (periodic reviews), so it have nothing to do with your payment or spending habits as long as they're on time and at least the minimum. They don't care what method of them receiving it, just as long as they get it.

Re: Capital One - Credit Steps

Anonymous — Sat, 14 May 2011 17:14:42 GMT

@JayRizzo wrote:
I see this miscommunication from Capital One's Sr. Account managers sooooooo often that it burns my britches to know they still don't have it together.

Unfortunately, your initial CLI "was" your Credit Steps increase. Somewhere in fine print, it states on the letter that you will receive your CLI after x-statement (*up to x-statement), meaning you may get it before. It's up to their discretion.

Also, there is no rhyme or reason to Cap-1's CLIs -- it's just random (periodic reviews), so it have nothing to do with your payment or spending habits as long as they're on time and at least the minimum. They don't care what method of them receiving it, just as long as they get it.

Thank you! Are there any additional CLI's after the credit steps increase? or is it random?

Re: Capital One - Credit Steps

JayRizzo — Sun, 15 May 2011 01:31:13 GMT

It is random. Last Christmas they were extremely generous by giving many people CLIs, but not everyone received one. In addition, there was a glitch in their system that gave 2 CLIs during the Christmas holiday season, but the 2nd CLI was backed off many people's accounts -- a few slipped through the cracks and remained with 2 CLIs.