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CAP1 EXPERTS

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bsal
Frequent Contributor

Re: CAP1 EXPERTS

Thank you all for your responce I guess i have to wait 3 months and hit that luv button

Message 11 of 32
Anonymous
Not applicable

Re: CAP1 EXPERTS


@bsal wrote:

Thank you all for your responce I guess i have to wait 3 months and hit that luv button


You don't need to wait 3 months. Use it a lot and keep paying. That shows them your 1000 limit isn't enough and hit button after first statement they might increase. I got their QS1 and platinum with SL of 500 each used a lot paid total of probably 12 times between 2 cards. After 6 weeks or so one got increase to 3000 and other to 2000. Now I also have their QS 8000 CL and venture 15000 CL all in less than 8 months

Message 12 of 32
Anonymous
Not applicable

Re: CAP1 EXPERTS


@bsal wrote:
Need some advice today I applied for Cap1 platinum card and got approved for 1,000 I'm not satisfied with that amount do you think they would do a CLI when I receive the card or is it way too early to be asking for that ?

Congrats on the Platinum card. I love mine but not as much as I love me QS1!!!

 

I see you've asked this question on several post. My question to you is, why didn't you app the QS1 right after the Plat? You've been around this forum for a long time and the Cap1 posts have been prolific lately with everyone talking about this process.

 

Anyway, within the next few days you should get an email with a banner that says "Five monthly payments to a higher credit line". This indicates that this card or cards are in the Credit Steps program meaning that you will get an auto CLI after the 6th statement 9with good pay history and no over limit charges) BUT you can most likely get another one somewhere in the middle (around the 3rd statement).

 

If you jump back on the pre-qual site his morning you should get the QS1 also and it will all be tied to the 1 HP (3B's of course) and you get one of the best 2-4-1's of all. BOth of these cards should be considered STEPS cards.

 

 

Message 13 of 32
EAJuggalo
Established Contributor

Re: CAP1 EXPERTS

Just a note, it may very well be a second HP on each Bureau since it is a different calender day.  I app'd for mine within about three hours of each other at the beginning of the month, but those three hours covered midnight .  I ended up with one set of pulls on Jan. 31 and another set on Feb. 1.  Still well worth it to me to have both cards with the goal of combining them in the next 6-12 months.

EX700 TU 704 EQ 694 4/03/22
Cap1 QS-$4,500 Chase Freedom Flex- $800 Chase Freedom Unlimited- $1,000 Victoria's Secret- $1,200 Citi DC- $800 Amazon Store Card- $3,500 AMEX Hilton Honors-$1,000 Discover It-$1,000 Wal-Mart MC $290 Chase Sapphire Preferred-$5,000 NFCU Flagship $13,800 AMEX BCE-$1,000 AMEX Gold-$5,000 AMEX Delta Blue $1,000 Lowe's $5,000 Navy Platinum $17,000 AMEX BBP $2,000
Message 14 of 32
bsal
Frequent Contributor

Re: CAP1 EXPERTS

Thanks you guys for all the info. You are right I been on here long enough but I never really paid attention to cap1 as I did to all the tips and tricks for apping for NFCU CC

But this was what I was going to do. Since I got approved for 1k I was going to make a purchase for 100 bucks keep it at 10% credit utilization and just pay the minimum balance each time the bill was due still leaving a balance. What do you guys think ?
Message 15 of 32
Credit_hawk
Established Contributor

Re: CAP1 EXPERTS

Pay in full. Never carry a balance. If I were you, I'd let the statement cut with a $10 balance on the 5th and pay it off on the 7th.

FICO- Experian: 797, TransUnion: 781, Equifax: 804 (Updated Monthly)
Message 16 of 32
bsal
Frequent Contributor

Re: CAP1 EXPERTS

im not sure im understanding I was told to always leave a balace never have zero balace reporting uness i was reading this wrong

Message 17 of 32
Anonymous
Not applicable

Re: CAP1 EXPERTS

Cap 1 is generally the first card people apply for when starting or rebuilding credit because of credit steps.  

 

I had a nice chat with a Cap 1 supervisor about credit steps and how it worked.  When you apply, they have a preset Cl for your profile group.  You will get a portion of that to start.  Generally, after 60 days they will release more of that limit if you request a cli.  When you complete steps, if you have made payments on time and don't have a high utilization, you will get that full amount.  Example,  mine was $4.5k.  I started with $1k, went to $3k, then $4.5k.  You don't have to charge it to the max and pay every other day or week.  They don't care about that because your steps limit was already determined. They do want you to prove you are a good credit risk.  Use the card responsibly and show you will make your payments.  

 

My first month, I used it like crazy and paid weekly.  My 2nd month, I used it and paid the balance before the due date. The 3Rd month, I may have used it once or twice.  After my 3Rd statement, I talked with the rep.  I hung up and requested a Cli.  I went from $1k to $3k.  I didn't hardly use it the next few months.  When steps ended, I went to $4.5k. Based on your numbers, you are in the similar group I was in.  When your 6th statement cuts, you will get the final cli.  

 

After steps,  it will vary on what they do based on your account,  not a profile.  Some get upgrades, some just apply for Qs and Venture.  After my 1 yr anniversary, I went to $6k.  I am at an impass.  I can't get them to pc my account and I don't want to have 3 more hp's just to get another account with them.   I already have one.  This account helped me obtain premium cc's with nice limits and aprs.

Message 18 of 32
GirlMelanie89
Established Contributor

Re: CAP1 EXPERTS


@bsal wrote:

im not sure im understanding I was told to always leave a balace never have zero balace reporting uness i was reading this wrong


Hi! You dont want to leave a balance per se, yu just want  balance to report to the CRA, and then immediately pay it off. Then rinse and repeat each month.  Good luck! Smiley Happy

Bankruptcy discharged: May 2014 Starting Score: 571 Goal Score: 700
Current Score: 676 (EQ FICO) 674 (EX FICO) 662 (TU FICO)

Mortgage Loan Originator in Kentucky
Message 19 of 32
Credit_hawk
Established Contributor

Re: CAP1 EXPERTS

Bsal, what I'm saying is that you should never carry a balance unless you have to. In your case the best thing to do is let a small amount report when your statement cuts. The optimal amount is less than 1% of your limit but not 0. Once that balance reports to your credit report, pay it off in full. That way it still shows activity on your report without incurring any interest charges. I think that you just need to read up more on the way credit works. Most of the time your balance reports to credit bureaus when your statement cuts which is after your due date. So, why not pay it off immediately after it reports as to avoid interest charges and maintain your grace period? 

FICO- Experian: 797, TransUnion: 781, Equifax: 804 (Updated Monthly)
Message 20 of 32
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