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Capital 1 Approval

BrutalBodyShots
Super Contributor

Re: Capital 1 Approval

Congrats on your approval!

 

I'll respectfully disagree with everyone that has said that the card is not bucketed based on the $2000 SL.  While I'm not saying that it is bucketed, SL in and of itself is not the only way to know if a CO card is bucketed.  The best way to know if a card is going to be bucketed IMO depends upon your profile at the time of approval for a CO product.  My question then to the OP is what did your profile look like?  What are your Fico scores for example and what was the score you were provided with at the time of your approval?  What else can you tell us about your profile such as clean/dirty, thick/thin, young/old etc?

 

I offer myself and personal experience on this subject as an example.  I was approved for a Capital One Platinum card with a $3000 limit, but it was indeed a bucketed card.  Even with heavy use/PIF for several years it was next to impossible to grow it. 

 

On the surface it would have appeared that a $3000 SL wouldn't be bucketed, but based on my overall profile it indeed was.  Why?  Well, I was approved with a 619 score.  My file however was aged (15 years or so) and thick (probably 20 accounts) but was recently dirty.  My file had been clean for ever a decade and recently had negative information introduced, dropping my ~800 scores down to the low 600s.  Capital One was my first rebuild card.  My opinion on the relatively high SL for the starter card was simply because my file overall was strong, but it was still bucketed due to the recent negative information on my file.

Message 11 of 22
DebtStinks
Established Contributor

Re: Capital 1 Approval

Congrats on the approval @Bdaddy23

 

I'm proof that you're likely NOT a bucketed card. I opened up a Cap1 Platinum in 11/2017 with a starting CL of $1,000. It now sits @ $11,200 CL and was upgraded to a World Elite Mastercard.

 

Best of luck!

PenFed Visa Signature $35000 (Opened 6/20) - NFCU More Rewards AMEX (Opened 1/19) $17000 - NFCU Platinum $15000 (Opened 1/21) - Capital One World Elite MC $11200 (Opened 11/17) - TTCU Platinum Visa $10000 (Opened 10/18) - Uber Visa $5000 (Opened 1/19) - Target Store Card $2000 (Opened 10/18) - Floor & Decor Store Card $36500 (Opened 10/18)
Total CL - $131700

CH7 BK Filed 8/1/17 Discharged 11/7/17

Scores as of 2/18/21:




Inquiries Last 12 Months:
Message 12 of 22
BrutalBodyShots
Super Contributor

Re: Capital 1 Approval


@DebtStinks wrote:

Congrats on the approval @Bdaddy23

 

I'm proof that you're likely NOT a bucketed card. I opened up a Cap1 Platinum in 11/2017 with a starting CL of $1,000. It now sits @ $11,200 CL and was upgraded to a World Elite Mastercard.

 

Best of luck!


Not enough information to say.  If you and OP have similar profiles yes, I would agree.  What did your credit profile look like at the time if your $1000 approval / what was your Fico score pulled when you apped?

 

It's also important to understand that there are a ton of things that go into a profile that aren't always thought about when it comes to bucketing.  For example, someone may have a rock solid profile but only be approved with a $1000 SL due to their income being very low.  Perhaps their income is the constraint to a higher limit on an otherwise stellar file.  Such an account may not be bucketed, but may not receive CLIs due to that income constraint.  Fast forward a few years, perhaps that person sees a considerable income increase and then may see a CLI follow.

Message 13 of 22
paws
Regular Contributor

Re: Capital 1 Approval

Congrats on the approval!

Message 14 of 22
BAD_UP
Frequent Contributor

Re: Capital 1 Approval

Congrats on your cap1 Approval🎉👍




Starting Score: 541
Nov 15 2020 score: EQ FICO8 635, TU8 636, EX8 644
Dec 15 2020 score: EQ FICO8 633, TU8 658, EX8 661
Jan 15 2021 Score EQ FICO8 698, TU8 689, EX8 706 Goal Score: All Scores 760+,

In the garden since 1/28/21
Recently App. 1/3/21 & 1/23/21
What will you attempt to do if you knew could not Fail?
Message 15 of 22
Shiwawa
Contributor

Re: Capital 1 Approval

Congrats on your approval!



Message 16 of 22
M_Smart007
Epic Contributor

Re: Capital 1 Approval

Congratulations!

popcorn eating emoticon.gif
Message 17 of 22
CreditMagic7
Super Contributor

Re: Capital 1 Approval

Congratulations_misti.gif

Message 18 of 22
Yeliaba1
Frequent Contributor

Re: Capital 1 Approval

Congratulations on your approval!

Message 19 of 22
SweetCreditObsession
Established Contributor

Re: Capital 1 Approval

@ghost-cell - great explanation. 

 

Congratulations on the new card, OP. 


Current Scores & Increase since May 2020:

EX: 725 (+62)| TU: 737 (+77)| EQ: 747 (+102)| TU Fico 9: 704

Next Goal: Min. 740 w/all CRAs

Subsequent Goal(s): Min. 760 w/all CRA & Chase FU

Gardening Until: 06/20/2021| Last App: 5/27/2020
Message 20 of 22
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