topic Re: Credit Cycling in General Credit Topics

Credit Cycling

MikeB4 — Sun, 06 Oct 2024 16:38:01 GMT

So I had a past Cp1 card that got charged off about 10 years ago, So I have a QS secured card with them now with a $200 limit.. Because it's too late since it's activated now I now wished I put at least $500 down or very well $1,000. The issue is it dosn't take much to get over what I feel is too much.

What is the take on credit cycling? From what I saw here these secured cards from CP1 are bucket cards? And after 6 months they only release the secured amount so now my card would only have a $400 CL?

Ok as I saw in another post I didn't pay off the entire balance but I left $57 since I'm still waiting on the first stament cycle to clear which sould on the 15th

Re: Credit Cycling

FireMedic1 — Sat, 12 Oct 2024 07:39:14 GMT

More than likely it will stay a bucket card. Its not like Disco that refunds your deposit and gives a CLI at the same time.

Re: Credit Cycling

Kforce — Sat, 12 Oct 2024 20:16:35 GMT

Most of the time Cap1 secured becomes a bucketed card.

They often don't give any CL increase, if they do usually very small.

Sometimes for the first month or two some issuers hold your payments for a week making it

difficult at the start of the relationship. In my opinion best to start slow for 2 months.

Then start using and paying it off as needed.

Four or five payments a month does not seem to be a problem for most.