topic Re: Cap Credit One Credit Step... in Credit Cards

Cap Credit One Credit Step...

birjest — Mon, 07 Nov 2011 19:20:23 GMT

Not sure if this was addressed, but I was pre-qualified for an additional $500 credit as long as I:

1. Use my card once

2. Make my first 5 monthly payments on time

Heck, I already have a cl of $2000. Easy as pie. I keep this card under 3% utilization anyway, mostly to buy Southwest Airline tickets...

Re: Cap Credit One Credit Step...

beb86 — Mon, 07 Nov 2011 04:31:40 GMT

the CLI should show up on your 7th statement

Re: Cap Credit One Credit Step...

CS800 — Mon, 07 Nov 2011 13:57:31 GMT

@birjest wrote:
Not sure if this was addressed, but I was pre-qualified for an additional $500 credit as long as I:

1. Use my card once
2. Make my first 5 monthly payments on time

Heck, I already have a cl of $2000. Easy as pie. I keep this card under 3% utilization anyway, mostly to but Southwest Airline tickets...

I see in your siggy that you got your TU FICO from Barclays, do you know if it's TU98 or TU04?

Re: Cap Credit One Credit Step...

birjest — Mon, 07 Nov 2011 14:14:32 GMT

I couldn't tell you. It dosen't say, but when I pulled myFico TU, it was at 686 a week prior to me applying for Barclay's.

Re: Cap Credit One Credit Step...

mAndrew1980 — Mon, 07 Nov 2011 15:00:22 GMT

So you had a Cap1 cc with a 2000 CL, and they offered you a different cap1 cc in the credit steps program? I'm wondering because I already have a Cap1 cc with a 500 CL, but I dont think im in the credit steps program. Can my current cc become enrolled?

Either way, nice work!

Re: Cap Credit One Credit Step...

birjest — Mon, 07 Nov 2011 15:26:43 GMT

Nooo, I this is for new account holder. I have a 2K limit, and if I use my card once and pay off the balance for 5 months, they will raise my limit to $2,500.

Re: Cap Credit One Credit Step...

CreditCrusader — Mon, 07 Nov 2011 15:51:00 GMT

@mAndrew1980 wrote:
So you had a Cap1 cc with a 2000 CL, and they offered you a different cap1 cc in the credit steps program? I'm wondering because I already have a Cap1 cc with a 500 CL, but I dont think im in the credit steps program. Can my current cc become enrolled?

Either way, nice work!

If you select the "Documents" tab on your homepage you will see whether you are in the steps program. The document should be titled "Capital One Credit Steps Program"

Re: Cap Credit One Credit Step...

theagent26 — Mon, 07 Nov 2011 19:10:30 GMT

I just got my 2nd Cap1 maybe a few weeks ago. Hadn't used it but once, but I get an email this past weekend saying the same thing about steps program, extra $500 at 7th statement, etc. I never requested to be placed in this steps program, but I'll take it!

Re: Cap Credit One Credit Step...

mAndrew1980 — Mon, 07 Nov 2011 20:26:33 GMT

Turns out I am in the credit steps program. After 6 months they bumped me to 500 (from 300). Does this mean at the year mark they will bump me up to 750?

Re: Cap Credit One Credit Step...

Anonymous — Mon, 07 Nov 2011 20:29:58 GMT

@mAndrew1980 wrote:
Turns out I am in the credit steps program. After 6 months they bumped me to 500 (from 300). Does this mean at the year mark they will bump me up to 750?

As I understand it, the "credit steps" program gives you a one-time CLI.

After you get the bump, don't hold your breath for another.

Re: Cap Credit One Credit Step...

Anonymous — Tue, 08 Nov 2011 02:19:34 GMT

@Anonymous wrote:
@mAndrew1980 wrote:
Turns out I am in the credit steps program. After 6 months they bumped me to 500 (from 300). Does this mean at the year mark they will bump me up to 750?
As I understand it, the "credit steps" program gives you a one-time CLI.

After you get the bump, don't hold your breath for another.

This is exactly what multiple Cap One reps told me on the phone. It's not stepS, it's just one credit step. After that, you're stuck in the same limbo as everyone else. "Capital One reviews accounts periodically".

So you'll most likely need to consulst some kind of oracle or diviner to figure out when you'll get the next CLI.

Apparently the Credit Steps program used to work different (where they'd do 2 bumps, or let you request a CLI before the first bump and then get a bigger bump at the time of the auto-CLI), but it seems like either that's extremely rare now, or long gone due to the cooler credit market.

Re: Cap Credit One Credit Step...

nixforfun — Tue, 08 Nov 2011 15:54:08 GMT

I got a cap one card 4 months back. How do I know if I am enrolled on the credit steps program? Is that something I need to ask them to be enrolled into?

Re: Cap Credit One Credit Step...

Anonymous — Tue, 08 Nov 2011 16:10:45 GMT

To check if you are enrolled go to the documents tab in your online bill pay. If you are enrolled you will see a letter in there about credit steps.

Re: Cap Credit One Credit Step...

nixforfun — Tue, 08 Nov 2011 21:01:55 GMT

Thanks for letting me know... I do see something up there

Welcome to Capital One!®Your Welcome Kit informed you of your initial credit limit, but as a Capital One Preferred
cardholder, you have been pre-qualified for a $750 credit line with Capital One Credit StepsSM. This is an automatic
service for new customers and an easy way to achieve more buying power. Simply follow these two steps:
1. Use your card at least once.
2. Make your first 5 monthly payments on time.

That's it. Just complete these two steps and you could automatically get access to your pre-qualified credit line of $750 by
your 7th statement...................

Re: Cap Credit One Credit Step...

birjest — Tue, 08 Nov 2011 21:15:45 GMT

OHH SNAPPP!!! I only got $500. You are sooo lucky...