@pip3man wrote:
@DXness wrote:Congrats on the CLI!
Contrary to popular belief, putting increased/heavier spend on a Cap One card is not necessary to get CLIs. It's more likely that your card got re-assigned to a better bucket, opening the door for bigger CLIs (and the issuer has become more generous this year overall). There is no way to know for sure, but a way to test the rebucketing theory vs them "liking" you more would be to go for another CLI in 3 months. Normally, you must wait 6 months for the next Cap One CLI - but not if there's something in your credit profile that they really like. The size of that CLI may also indicate things.This is completely FALSE information. There is absolutely NOTHING like rebucketing of a Capital One card and I know this from personal knowledge. The way credit cards were underwritten, buckets were assigned at the point of account opening based on the applicant's credit profile. This was normally set for the life of the account. Even if credit improved over time, it did not correlate with the card's growth. The only way to get better terms was for applicants to literally apply for new credit with their improved credit profile. Each card family were grouped as mainstream and some other names that I forgot. Additionally, factors such as increased/heavy spending were big factors to scoring credit line increases. This part is public knowledge that Capital One actually shares with customers when they get declined for a CLI. So frequent use and/or large spending is likely what triggered the credit line increase for OP. Nothing like rebucketing at C1.
But let's face, you indicated that Cap One states certain reasons for denial, but lots of times those reasons are pure BS and don't really apply a lot of the time. I have a low tier bucketed card and I wish they would just say that your card will never get an increase. Instead they will say things like too much debt when I was only at 8%.
NFCU GoRewards Sig ($40,000), NFCU Cash Rewards ($40,000), PenFed Power Cash ($25,000), FNBO Evergreen Visa ($20,000), Bread Financial Rewards Amex ($21,150), PNC Cash Rewards ($18,400), PNC Cashbuilder ($18,700) , One Key Mastercard ($14,000), Citi Double Cash ($11,600), US Bank Cash Plus($10,000), Discover It Cash ($9000), Capital One Quicksilver MC ($9000), TD Cash ($8000), Bank of America. Unlimited Cash Rewards ($7500), Fifth Third Unlimited Cash Back Mastercard ($7500), Wells Fargo Active Cash Sig($7000), Apple Card ($6000), Amex BCE($6000), Amex ED($6600), X1 Card ($5000), PNC Points ($8000), Amex Cash Magnet($2000), Fifth Third Truly Simple ($4000), Truist Spectrum Cash Rewards($4500), Truist Bright Card($4500), CapOne Quicksilver(Bucketed @$1500 manually lowered to $500), US Bank Cash+ ($1,000), WF mortgage 195K Fico 8: EQ 778, TU 765, EX 758 FICO 9:EQ 829, TU 812, EX 791, AAoA-97 months, AoOA-28 years
Congrats onyour awesome surprise CLI!
>>
@pip3man wrote:
@DXness wrote:Congrats on the CLI!
Contrary to popular belief, putting increased/heavier spend on a Cap One card is not necessary to get CLIs. It's more likely that your card got re-assigned to a better bucket, opening the door for bigger CLIs (and the issuer has become more generous this year overall). There is no way to know for sure, but a way to test the rebucketing theory vs them "liking" you more would be to go for another CLI in 3 months. Normally, you must wait 6 months for the next Cap One CLI - but not if there's something in your credit profile that they really like. The size of that CLI may also indicate things.This is completely FALSE information. There is absolutely NOTHING like rebucketing of a Capital One card and I know this from personal knowledge. The way credit cards were underwritten, buckets were assigned at the point of account opening based on the applicant's credit profile. This was normally set for the life of the account. Even if credit improved over time, it did not correlate with the card's growth. The only way to get better terms was for applicants to literally apply for new credit with their improved credit profile. Each card family were grouped as mainstream and some other names that I forgot. Additionally, factors such as increased/heavy spending were big factors to scoring credit line increases. This part is public knowledge that Capital One actually shares with customers when they get declined for a CLI. So frequent use and/or large spending is likely what triggered the credit line increase for OP. Nothing like rebucketing at C1.
Capital One's own public disclosure for its asset-backed securities shows that "rebucketing" is not only possible, but it's guaranteed to happen to some cards. Their Class A ABS, at least the one shown in the 2017 Myfico thread on this subject, and reconfirmed in a 2019 thread, is 100% comprised of accounts older than 60 months / has no accounts younger or equal to 24 months. Thus, their highest ABS trust grouping literally cannot be assigned at account creation and every account in it was moved there after aging in.
This certainly does not preclude lower buckets from having different rules (I haven't read the other 3 classes and their details) and I won't deny that any movement betweem those is speculation having not read what kind of accounts are in them, but it does show as fact-in-filing that Cap One creates its highest bucket by moving accounts in from elsewhere. Even if you worked for them as it sounds like you may have, it would be your opinion as an employee against their legally required public disclosure of how their ABSs are arranged. That document contains pure facts and outright states that rebucketing is not false information.
EX VS3: 745, EQ VS3: 755, TU VS3: 753, VS4: 709
Congrats on the CLI
