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Capital 1 Approval

Bdaddy23
Member

Capital 1 Approval

Hi Everyone 

 

So I finally got my first 4 digit approval (2000) and wonder how can I tell if it's a bucketed card. It's the Plat. card which I got via the preapproval link. 

I have an older Cap 1 OS that was PC from Plat and opened  01/2020. Starting limit was 300 and now at 600 after credit steps and a 100 CLI

 

I also have 3 other cards ranging from 300-600 limits all withing the last year. 

thank you'll in advance 

Message 1 of 22
21 REPLIES 21
AllZero
Super Contributor

Re: Capital 1 Approval

Congratulations on your approval. $2000 SL is a decent limit. I don't think it's in the bucket.
Message 2 of 22
ghost-cell
Valued Member

Re: Capital 1 Approval

I wouldn't say that it's bucketed

 

Bucketed is different to every person. For you, 2k might be a fine limit. To someone who's used to 5+ figure CL cards, they might view it as a bucket card. Me personally, I think 2k is fine and based on what you said, this is your highest limit card, so it's by no means a bucket card for you personally. One thing that people say is CapOne "freezes your credit profile in time." So they'll forever view this card with the snapshot that your credit profile was when you applied for this card, making it difficult to CLI it. That's often why people fear CapOne cards are "bucket" cards, like if they begin with a $300 limit they fear it'll never grow more because CapOne will forever have it frozen in time

 

What's done is done, and you have this card. I personally think you should start looking beyond CapOne, as your inquiries age and you continue to build credit. CapOne does offer decent products, but just so you don't have to get triple pulled, or worry about getting a potential bucket card, and maximize rewards other lenders could be worth a look

 

Congratulations on your approval!!!! 

Have -


Want - Chase Freedom Flex, Chase Amazon, Navy Federal Flagship, Fidelity Visa, US Bank Cash+, Wells Fargo Propel, Venmo



Message 3 of 22
AverageJoesCredit
Community Leader
Mega Contributor

Re: Capital 1 Approval

Normally Plats are bucketed card in that they are starter level cards with Cap One. But $2k is very respectable.  Use it heavy and see what happens in 6 months. Temper expectations though. My humble opinion is use Cap One to get better cards , because trying to figure how to make them grow is too time consuming and leaves more headaches than are actually neededSmiley Wink

Message 4 of 22
CreditAggie
Valued Contributor

Re: Capital 1 Approval

Congratulations on your Capital One approval!

Current Cards (in order of approval):


Current FICO 8:

Credit Age:

Inquiries (24 month):

Goal Cards:



Currently: 0/6, 0/12, 3/24
Message 5 of 22
fsalsa2
Regular Contributor

Re: Capital 1 Approval

Congrats!




NFCU Cash Rewards: $4300
NFCU More Rewards: $3000
NFCU Visa Signature Go Rewards: $9600
Capital One Quicksilver: $500
Capital One Quicksilver One: $500
Military Star Card: $ 2,475
Venmo Credit Card: $2,700
USAA Platinum Visa: $4,000
American Express Delta Skymiles Platinum: $1700
American Express Platinum
Message 6 of 22
Credit4Growth
Valued Contributor

Re: Capital 1 Approval

Congratulations on your milestone!!!! Smiley SurprisedSmiley WinkSmiley Very Happy

 

AllZero wrote: 

Re: Capital 1 Approval
Congratulations on your approval. $2000 SL is a decent limit. I don't think it's in the bucket.
 
I agree, I do not think it is bucketed.
Current as of February 21st
TCL $126.6 - 2.#%UTL || - SL Balance $20.6K
FICO 08 EQ723, TU725, EX725 || Mortgage Scores: EQ 724, Tu 694, EX 726

PSECU || CHASE || NAVYFED || DISCOVER ||

Restarted my rebuild in April 2018

Gardening until Emerald Spade - Accomplished. 1st App on the list is AODFCU, next is TBD
Last apps: (2) August 18, 2019. Instant approvals but one account opened on the 19th
Inquiries: EQ/TU/EX (0 / 3 / 1) - 0/6 0/12 4/24 (based on DPs; 5/24, an AU from 8/16/2019) IHG
Dirty/Thick/Aged/ No New Acoounts


Message 7 of 22
gdale6
Moderator

Re: Capital 1 Approval

Grats on your Cap-1 approval Smiley Happy

Message 8 of 22
cashorcharge
Valued Contributor

Re: Capital 1 Approval

That's terrific!  Congratulations on your approval!! 🎉🥂

Message 9 of 22
TSlop
Established Contributor

Re: Capital 1 Approval

Congrats on your approval!


Message 10 of 22
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