Cap 1 bucketed.. ?

[Anonymous]

Hi as far as I can figure out when a cc bucket's you it means they won't ever increase your limit?.. Or what exactly is that is it 'blacklisted'? My cap 1 card won't ever increase my CL. I've asked several times they keep saying I can't be late which is ludicrous cuz I NEVER ever pay late on any of my cards I have a 100% payment record. That rediculous bank!!

[Anonymous]

Pick your battles.

Cap1 may or may not be bucketed...takes time to figure it out.

Blacklisted means you can't get approved and some lenders won't even pull your CR if you're on the list.

[Anonymous]

What causes a card to blacklist you?

[Anonymous]

Not paying

Bankruptcy

Fraud

[Gollum]

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@Anonymous wrote:
Hi as far as I can figure out when a cc bucket's you it means they won't ever increase your limit?.. Or what exactly is that is it 'blacklisted'? My cap 1 card won't ever increase my CL. I've asked several times they keep saying I can't be late which is ludicrous cuz I NEVER ever pay late on any of my cards I have a 100% payment record. That rediculous bank!!

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A myFICO forums user with the nickname ABCD2199 wrote an explanation 11-01-2017 about Capital One (and possibly/probably others) bucketing: https://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Card-Asset-Backed-Securities-ABS-and-why-some-subprime/td-p/5083619

[Anonymous]

Capital One does bucket but they do shift people around buckets. They have a bucket that has no accounts less than 5 years old in it for example. It’s their top tier bucket.

It can take a long time to grow them though. I grew my QS from its origins as a Plat at $300 to $8250 but that took 4 years and 3 years of that Capital One was the only lender I had. It’s not really worth it for any of their cards honestly.

[Gollum]

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@Anonymous wrote:
Capital One does bucket but they do shift people around buckets. They have a bucket that has no accounts less than 5 years old in it for example. It’s their top tier bucket.

It can take a long time to grow them though. I grew my QS from its origins as a Plat at $300 to $8250 but that took 4 years and 3 years of that Capital One was the only lender I had. It’s not really worth it for any of their cards honestly.

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The idea/existence of a Capital One (and maybe/probably other banks) "bucket" for sub-prime credit cards that never improve is explained by ABCD2199 in his/her/its explanation of Asset-Backed Securities (ABS): https://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Card-Asset-Backed-Securities-ABS-and-why-some-subprime/td-p/5083619

[Anonymous]

I know, that’s where I found my way to that mentioned top tier bucket that has no accounts less than 5 years old. That’s proof that they rebucket customers. I am definitely proof that you can be rebucketed as well. My credit was so awful that I was amazed they gave me an unsecured card. Not only did I have a BK 4 years prior, I had a repossession and subsequent charge off from a reaffirmed car from that BK and my student loans go late two years before along with charge offs from three different cell companies and medical debt with no positive additional debt.

Capital One can and does rebucket you if you prove yourself, it’s just a long and arduous process that’s not really worth it for what they have to offer. Since their buckets all have a certain level of maintained risk, they would have to rebucket anyway.

Disco is another company that uses ABS.

[Gollum]

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@Anonymous wrote:
I know, that’s where I found my way to that mentioned top tier bucket that has no accounts less than 5 years old. That’s proof that they rebucket customers. I am definitely proof that you can be rebucketed as well. My credit was so awful that I was amazed they gave me an unsecured card. Not only did I have a BK 4 years prior, I had a repossession and subsequent charge off from a reaffirmed car from that BK and my student loans go late two years before along with charge offs from three different cell companies and medical debt with no positive additional debt.

Capital One can and does rebucket you if you prove yourself, it’s just a long and arduous process that’s not really worth it for what they have to offer. Since their buckets all have a certain level of maintained risk, they would have to rebucket anyway.

Disco is another company that uses ABS.

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Saeren, good for you. The post by ABCD2199 explains why many sub-prime credit cards will never graduate or improve (with no explanation from the card-issuer to the card-holder) and for convenience, the term "bucket" is used.

[Anonymous]

And that post is wrong. 🤷‍♂️

They quite clearly have to move customers from bucket to bucket in order to keep the risk average of each ABS bucket as advertised. When and how they do this is obviously proprietary information but speaking in absolutes is ridiculous because it’s simply not true.

I don’t see why you’re insisting on arguing when I’ve said twice now that while they can grow it takes years and isn’t worth it. That’s really the key, not how long a person is bucketed but the fact that there are better cards across every category from other lenders.