topic Re: Capital One Credit Steps questions in Rebuilding Your Credit

Capital One Credit Steps questions UPDATE

Anonymous — Mon, 07 Mar 2016 15:49:51 GMT

I applied for a Capital One Platinum (unsecured) card last month and got approved for $500. Capital One emailed me a few days later and told me I was in the Credit Steps program--make on time payments for five months, and my limit would be raised. They didn't say the amount it would be raised to. This morning I got an email saying that my limit would be raised to $750 after the five months.

My question is, how accurate is that amount? I've been reading reviews for the Credit Steps program, and people have been saying they tried for a manual increase after three months, got it, and still got their Credit Steps increase after five months. But the increases were for much larger amounts, like $1000, $2000, etc. I'll be thankful for any increase I get, but I'm really wanting a bigger increase than $250 because I need extensive dental work and was hoping to use the Capital One card to help me with that.

Is the amount of the credit limit increase Capital One tells me I'll get set in stone?

UPDATE: I just wanted to update. I took the advice that I've read on this board of waiting for your third statement and asking for a manual increase. I got a $1000 increase! So now now I can't wait to see what my Credit Steps increase will be. I love reading updates, so I decided to post my own. Thanks everyone for your advice!

Re: Capital One Credit Steps questions

Anonymous — Mon, 14 Dec 2015 14:13:16 GMT

I believe that they give you the minimum it will be increased. I know on my QS1 I started with a $2000 limit and the credit steps says it will go to $2500. I got a CLI after my 3rd statement that took it to a $5000 limit, so I know the credit steps will go beyond that. Good luck to you!

Re: Capital One Credit Steps questions

Anonymous — Mon, 14 Dec 2015 14:39:51 GMT

Thank you!

Re: Capital One Credit Steps questions

Anonymous — Mon, 14 Dec 2015 16:35:34 GMT

I was approved for $500 - got an increase around 3rd statement (I asked) and went to $1500 - so my $750 credit steps has to be higher than that when I get it in a couple months.

After your second statement cuts (give it a couple weeks) then go hit the LUV button on the website - You might get bumped

Re: Capital One Credit Steps questions

Anonymous — Tue, 15 Dec 2015 17:13:20 GMT

@Anonymous wrote:
I applied for a Capital One Platinum (unsecured) card last month and got approved for $500. Capital One emailed me a few days later and told me I was in the Credit Steps program--make on time payments for five months, and my limit would be raised. They didn't say the amount it would be raised to. This morning I got an email saying that my limit would be raised to $750 after the five months.

My question is, how accurate is that amount? I've been reading reviews for the Credit Steps program, and people have been saying they tried for a manual increase after three months, got it, and still got their Credit Steps increase after five months. But the increases were for much larger amounts, like $1000, $2000, etc. I'll be thankful for any increase I get, but I'm really wanting a bigger increase than $250 because I need extensive dental work and was hoping to use the Capital One card to help me with that.

Is the amount of the credit limit increase Capital One tells me I'll get set in stone?

As others have pointed out, often the increase will be much bigger - typically the $500 cards will go to $1500 after the second or third statement IF YOU REQUEST an increase.

Be sure to use the card a lot (and pay it all off) as well. If you just sit on it, they may only give that minimum increase.

Re: Capital One Credit Steps questions

Anonymous — Tue, 15 Dec 2015 23:47:03 GMT

Thanks!

Re: Capital One Credit Steps questions

Anonymous — Wed, 16 Dec 2015 02:09:07 GMT

Went from $500 -> $3500 (after 2.5 months) -> $4000 (credit steps)

Re: Capital One Credit Steps questions

ccpat — Wed, 16 Dec 2015 03:57:26 GMT

When hitting love button, there was a question asking about monthly spend on credit cards. Should I set this high or does it matter?

Re: Capital One Credit Steps questions

Anonymous — Wed, 16 Dec 2015 04:40:51 GMT

@ccpat wrote:
When hitting love button, there was a question asking about monthly spend on credit cards. Should I set this high or does it matter?

I too would like to know the answer to this.

Re: Capital One Credit Steps questions

Anonymous — Wed, 16 Dec 2015 05:09:41 GMT

@Anonymous wrote:
@ccpat wrote:
When hitting love button, there was a question asking about monthly spend on credit cards. Should I set this high or does it matter?
I too would like to know the answer to this.

Go apply for their platinum card too. Doesn't matter what you set it at. They can see what you spend with their card. I have their qs1 and platinum for about 6 weeks. After first billing my qs1 went to 3000 and platinum went to 2000 CL. Starting limit is 500 for each. I use it a lot and pay it lots of times in that month and am still using it a lot now. When I applied for cards my credit is mid 500 now I'm in 620-650.also added a chase freedom and Barclay cash forward to my credit file.

Re: Capital One Credit Steps questions

Anonymous — Wed, 16 Dec 2015 06:12:50 GMT

I agree with everyone else.. It depends! With my platinum I only got a $100 increase after 2 statements cut. My starting cli was $300

my qs1 got $500 increase . Starting cli was also $300

both was was after only 2 statements.. I may try again after next months statement..

Re: Capital One Credit Steps questions

Anonymous — Mon, 07 Mar 2016 15:50:53 GMT

Update in first post.

Re: Capital One Credit Steps questions

Anonymous — Mon, 07 Mar 2016 15:54:38 GMT

I always put it pretty high - $2500 or more.

Re: Capital One Credit Steps questions

mb1986 — Mon, 07 Mar 2016 15:56:24 GMT

A few years ago I started with a $500 limit for their credit steps program. After 6 months it went to $750. I continued to use it and pay it off and a few months later I logged into my accoutn and saw that the limit was then $1,500. Fast forward to today that same card has a $5,250 credit limit. Who knows how high it will go...