topic Re: Awesome Capital one rebuilder program! in Rebuilding Your Credit

Awesome Capital one rebuilder program!

Anonymous — Tue, 08 Dec 2015 17:24:55 GMT

Check it out!

https://www.capitalone.com/credit-cards/credit-builder-program/?Log=1&EventType=Link&ComponentType=T&LOB=MTS%3A%3ALCTMMQC4S&PageName=average+or+building&ComponentName=suiteTable&ContentElement=24%3BCredit+Builder+Program&TargetLob=MTS%3A%3ALCTMMQC4S&TargetPageName=Credit+Builder+Program&referer=https%3A%2F%2Fwww.capitalone.com%2Fcredit-cards%2Faverage-and-building

Re: Awesome Capital one rebuilder program!

Anonymous — Tue, 08 Dec 2015 18:07:17 GMT

Interesting. Doesn't start reporting until after the credit steps kicks in, so 6 months basically. Miss a payment in the first 5 months and it automatically closes.

I wondered if it was the replacement for the secured card, but I still see that on their list but didn't see this rebuilder. Where did you find it?

Looks great for those that have no other options.

Re: Awesome Capital one rebuilder program!

Anonymous — Tue, 08 Dec 2015 18:20:11 GMT

This isn't a bad deal at all, bowever it doesn't mention about future CLI's after the programs completion. If this thread is still going I would love to hear about someone who completed the programs and whether they could get another increase after ccompletion.

Re: Awesome Capital one rebuilder program!

Anonymous — Tue, 08 Dec 2015 18:20:44 GMT

I annouced this last week sometime and many thought I was nuts because they couldnt find it.

Re: Awesome Capital one rebuilder program!

Anonymous — Tue, 08 Dec 2015 18:29:50 GMT

@Anonymous wrote:
I annouced this last week sometime and many thought I was nuts because they couldnt find it.

I think I saw that post. I still couldn't find the card on Cap1's website, only through his link. I'm wondering if the days of their secured card are coming to an end.

Re: Awesome Capital one rebuilder program!

Anonymous — Tue, 08 Dec 2015 18:37:40 GMT

We were talking about this program a couple days ago

http://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-quot-Builder-Program-quot-Credit-Card/m-p/4359136

There were a few people that announced approvals for this card in that thread so hopefully there'll be some more data in a few months when they start graduating from this program.

It's worth noting that if you already carry a Capital One card you are not eligible for this program. So keep that in mind.

Re: Awesome Capital one rebuilder program!

Anonymous — Tue, 08 Dec 2015 18:49:50 GMT

I love that you get an increase after the 5 monthly payments to $500. It's a $100 unsecured line that isn't replacing the secured card (I'm assuming from the way the rep was talking) . The rep on the phone couldn't find it on the siteeither when I was talking to him about it :/ but, at least he knew the program that I was talking about.

Re: Awesome Capital one rebuilder program!

Anonymous — Tue, 08 Dec 2015 20:16:35 GMT

@Anonymous wrote:
I love that you get an increase after the 5 monthly payments to $500. It's a $100 unsecured line that isn't replacing the secured card (I'm assuming from the way the rep was talking) . The rep on the phone couldn't find it on the siteeither when I was talking to him about it :/ but, at least he knew the program that I was talking about.

Has anyone applied yet? If so what were your scores like? If you dont mind me asking. I'd like to apply for this but i'm scared of a denial and then a waste of a hard pull or is this even a hard pull?

Re: Awesome Capital one rebuilder program!

Anonymous — Tue, 08 Dec 2015 21:41:56 GMT

@Anonymous wrote:
@Anonymous wrote:
I love that you get an increase after the 5 monthly payments to $500. It's a $100 unsecured line that isn't replacing the secured card (I'm assuming from the way the rep was talking) . The rep on the phone couldn't find it on the siteeither when I was talking to him about it :/ but, at least he knew the program that I was talking about.
Has anyone applied yet? If so what were your scores like? If you dont mind me asking. I'd like to apply for this but i'm scared of a denial and then a waste of a hard pull or is this even a hard pull?

A friend recently applied, yes. She was approved with an EQ score that's sub 500.

Re: Awesome Capital one rebuilder program!

Anonymous — Tue, 08 Dec 2015 22:36:36 GMT

My mom was approved, with limited income. Not sure what her scores are, I'm assuming very low. CCT has a technical error every time she tries to sign up for it

Re: Awesome Capital one rebuilder program!

Anonymous — Wed, 09 Dec 2015 01:29:51 GMT

Seems nice but i would wonder if they back date it With the CRA after the credit steps seeing as payment history and it effects AAoA. Id rather have the secured card if it didnt....just my .02

Re: Awesome Capital one rebuilder program!

Anonymous — Wed, 09 Dec 2015 05:24:06 GMT

That's a very good find!

Re: Awesome Capital one rebuilder program!

Anonymous — Wed, 09 Dec 2015 06:27:44 GMT

This sounds like a pretty good program. It eliminates the issue some people face with the secured card not graduating and having to close one of their oldest accounts in order to get back their deposit. Although $100 is a really low limit it's unsecured and you can look forward to the $500 limit at 6 months of responsible payments.

Re: Awesome Capital one rebuilder program!

Anonymous — Wed, 09 Dec 2015 13:14:52 GMT

Applied for this card a month ago and received a $300 credit line with the same 5 monthly payments on time terms. So far so good.

Re: Awesome Capital one rebuilder program!

Anonymous — Wed, 09 Dec 2015 16:08:04 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
I love that you get an increase after the 5 monthly payments to $500. It's a $100 unsecured line that isn't replacing the secured card (I'm assuming from the way the rep was talking) . The rep on the phone couldn't find it on the siteeither when I was talking to him about it :/ but, at least he knew the program that I was talking about.
Has anyone applied yet? If so what were your scores like? If you dont mind me asking. I'd like to apply for this but i'm scared of a denial and then a waste of a hard pull or is this even a hard pull?
A friend recently applied, yes. She was approved with an EQ score that's sub 500.

wow thanks! I'll give im going to have to give it a shot. I'll keep ya'll updated once i apply

Re: Awesome Capital one rebuilder program!

penny_e — Wed, 09 Dec 2015 17:07:33 GMT

Dont they call this the Steps card? I have it for hubby, after the 3rd payment I hit luv button and got 1000.00 increase started with a 500 credit line after the 6th payment they increase automatically as long as all payments were made in time.

Re: Awesome Capital one rebuilder program!

Anonymous — Wed, 09 Dec 2015 17:31:10 GMT

@penny_e wrote:
Dont they call this the Steps card? I have it for hubby, after the 3rd payment I hit luv button and got 1000.00 increase started with a 500 credit line after the 6th payment they increase automatically as long as all payments were made in time.

No, totally different card.

Re: Awesome Capital one rebuilder program!

Anonymous — Wed, 09 Dec 2015 18:33:39 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
I love that you get an increase after the 5 monthly payments to $500. It's a $100 unsecured line that isn't replacing the secured card (I'm assuming from the way the rep was talking) . The rep on the phone couldn't find it on the siteeither when I was talking to him about it :/ but, at least he knew the program that I was talking about.
Has anyone applied yet? If so what were your scores like? If you dont mind me asking. I'd like to apply for this but i'm scared of a denial and then a waste of a hard pull or is this even a hard pull?
A friend recently applied, yes. She was approved with an EQ score that's sub 500.

also asana so they only pull eq or is it still all three and your friends highest score just happened to be the sub 500 eq?

Re: Awesome Capital one rebuilder program!

alisadarrick — Wed, 09 Dec 2015 20:05:23 GMT

My son just applied for this card and was approved and his scores are upper 500s.

Re: Awesome Capital one rebuilder program!

Anonymous — Wed, 09 Dec 2015 20:44:10 GMT

If you complete the program are they going to go bavk and report your on time payments for the 6 months that thry weren't reporting ?