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Capital One Secured CLI - Credit Steps

SC6868
New Member

Capital One Secured CLI - Credit Steps

Hi all,

 

Newbie here (to credit and the forums). I'm 31, and recently realized I needed to get my act together and start building my credit, as up until now I have no credit history whatsoever. (No student loans, no cards, no nothing.) In September of 2019, I got a secured Capital One card ($200 limit, $50 deposit), and have been using it judiciously since then. I was expecting a CLI after my February statement posted thanks to their Credit Steps program, but it didn't show up at that point. I called to ask a CSR if there was a reason for that, and was told that it would actually be scheduled for after my April statement.

 

In the end, that proved to be untrue, as I just checked my app this morning and found a new credit limit of $500 waiting for me! (Working backwards, it looks like it showed up now as I just paid my fifth full-month statement - the first one only covered my first few weeks with the card.)

 

I'm not planning to use the card anymore, as just a few weeks ago I was approved for a Discover It Chrome ($2,750 CL) and there doesn't seem to be any use in putting charges on the card that won't graduate beyond this or give me rewards, but I'm happy to have that little bump to reduce my utilization %. (Thank you all for the information - I was lurking on the forum for a few weeks gathering information before even trying the Discover preapproval and then applying!)

 

Forgive me if tacking a question onto this is inappropriate, but I'm wondering if it might be a good idea to get another card now as well. I'm committed to primarily/only using the Discover this year to maximize the first year cashback bonus, but would it be judicious to add another vanilla-ish card that I can get approved for now, to improve my AAoA when I'm looking to get into a more productive ecosystem like Chase down the road? Out of curiosity I applied for the Apple Card on my phone (thanks, soft pull), and was offered a $4,000 credit limit - would accepting this offer and sock drawering the card for now help me later on, or does it seem like a fruitless hard pull?

 

Thank you again for all the CC wisdom!

Message 1 of 19
18 REPLIES 18
Remedios
Moderator

Re: Capital One Secured CLI - Credit Steps

Congrats ! 

 

 

Message 2 of 19
Back2Reality
Frequent Contributor

Re: Capital One Secured CLI - Credit Steps


@SC6868 wrote:

Hi all,

 

Newbie here (to credit and the forums). I'm 31, and recently realized I needed to get my act together and start building my credit, as up until now I have no credit history whatsoever. (No student loans, no cards, no nothing.) In September of 2019, I got a secured Capital One card ($200 limit, $50 deposit), and have been using it judiciously since then. I was expecting a CLI after my February statement posted thanks to their Credit Steps program, but it didn't show up at that point. I called to ask a CSR if there was a reason for that, and was told that it would actually be scheduled for after my April statement.

 

In the end, that proved to be untrue, as I just checked my app this morning and found a new credit limit of $500 waiting for me! (Working backwards, it looks like it showed up now as I just paid my fifth full-month statement - the first one only covered my first few weeks with the card.)

 

I'm not planning to use the card anymore, as just a few weeks ago I was approved for a Discover It Chrome ($2,750 CL) and there doesn't seem to be any use in putting charges on the card that won't graduate beyond this or give me rewards, but I'm happy to have that little bump to reduce my utilization %. (Thank you all for the information - I was lurking on the forum for a few weeks gathering information before even trying the Discover preapproval and then applying!)

 

Forgive me if tacking a question onto this is inappropriate, but I'm wondering if it might be a good idea to get another card now as well. I'm committed to primarily/only using the Discover this year to maximize the first year cashback bonus, but would it be judicious to add another vanilla-ish card that I can get approved for now, to improve my AAoA when I'm looking to get into a more productive ecosystem like Chase down the road? Out of curiosity I applied for the Apple Card on my phone (thanks, soft pull), and was offered a $4,000 credit limit - would accepting this offer and sock drawering the card for now help me later on, or does it seem like a fruitless hard pull?

 

Thank you again for all the CC wisdom!


Congrats!! That's awesome news 

 

for optimal FICO Scoring you'll need 3 cards

 2 you pay to zero before statements cut

 1 you let report 8.9% or less balance and then PIF before due date

 

 maybe the Apple Card is your 3rd card










RIP:

INSTALLMENTS:
11 years more payments!!



GOALS:
• [X] $10k revolving CL by 2021
• Apple Card (too sexy not to have) by 2021
• [X] Just one more cash back rewards card by 2021
• [X] Student Loans (27, yes, 27 of them) out of rehab and default by 6/2020
• [___] FICO 670 by end of 2020: [___]EX [___]TU [__X__]EQ
• [X] PC Cap1 to QS 5/2020 - 100 days after opening; credit steps done 8/2020
• [X] PC Discover—to DiscIt 5% 3/2020
Message 3 of 19
M_Smart007
Epic Contributor

Re: Capital One Secured CLI - Credit Steps

Congratulations!

Message 4 of 19
AllZero
Super Contributor

Re: Capital One Secured CLI - Credit Steps

Congratulations on your CLI!
Message 5 of 19
tbque
Valued Contributor

Re: Capital One Secured CLI - Credit Steps

Congratulations!





Message 6 of 19
corpcrmgr
Valued Contributor

Re: Capital One Secured CLI - Credit Steps

Congratulations! You may wish to throw something on the Cap 1 card like a monthly Netflix charge.

Message 7 of 19
Meanmchine
Super Contributor

Re: Capital One Secured CLI - Credit Steps

Congrats !


3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>12/2020 CCT EX 821 TU 826 EQ 840


"Survival kit contents check. In them you'll find:

- One forty-five caliber automatic
- Two boxes of ammunition
- Four days' concentrated emergency rations
- One drug issue containing antibiotics, morphine,
vitamin pills, pep pills, sleeping pills, tranquilizer pills
- One miniature combination Russian phrase book and Bible
- One hundred dollars in rubles
- One hundred dollars in gold
- Nine packs of chewing gum
- One issue of prophylactics
- Three lipsticks
- Three pair of nylon stockings.

Shoot, a fella' could have a pretty good weekend in Vegas with all that stuff."

Major Kong (Slim Pickens) in Dr. Strangelove 1964
Message 8 of 19
Traveler101
Frequent Contributor

Re: Capital One Secured CLI - Credit Steps

Congrats!

Message 9 of 19
seattletravels
Valued Contributor

Re: Capital One Secured CLI - Credit Steps

Congrats on your CLI!



Last App: BECU 02-26-2020
Pronouns: He/Him/His
Message 10 of 19
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