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
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!!!!
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 needed
Congratulations on your Capital One approval!
Congratulations on your milestone!!!!