Cap One Credit Steps...

[aquatic1]

Can anyone tell me about this program.....

[Anonymous]

Once enrolled, you have to follow a few steps in order to automatically receive credit line increases.

If it is a new card, you have to activate and use the card within the first 30 days.

You have to pay at least the minimum charge on time for 90 days.

You can't go over the limit.

If you successfully complete those steps, after the 3rd (or 4th?) statement, your CL will automatically increased to a pre-determined number.

For me, it went from $300 to $750.  They also told me I will receive an increase to $1000 if I can continue paying the minimum charge and not going over CL for 7 months in a row.  I typically pay off my balances though rather than just paying minimum.

That's about as much as I know from personal experience.

[aquatic1]

Thank you for your response.  Just one more question.  How would one be able to do the credit steps program?  Who would qualify?

[Anonymous]

---

@aquatic1 wrote:
Thank you for your response.  Just one more question.  How would one be able to do the credit steps program?  Who would qualify?

---

Cap One determines who qualifies and who does not.Its not a program you can sign up for..

[aquatic1]

that is what I thought.  thank you fro the response..

[IrishPM]

I obtained the Cap One Platinum No Hassle Rewards CC (Visa) in April 2008. I was not aware of the "credit steps" program and didn't think I would really need to be "enrolled" in the program. After 2 weeks of receiving the card, I got a letter from them outlining the "credit steps" program that told me my $500 credit line would "increase" after 4 statements if I did not go over the limit and made timely payments (no lates).

Never charged more than $200 per month of my credit line and paid in full each month. Never carried a balance from month to month for 14 months now. Cap One has not increased my credit line not one time since I became a customer in April 2008. TransUnion score is 703 and Equifax is 723. No lates on any of my credit cards or any lates at all on any of my installment accounts. Total utilization has never exceeded 1% per month since I got the Cap One card in April 2008.

I have zero negative accounts including collections, bankruptcy, tax liens or late payments. In my opinion, this whole "credit steps" program is all very subjective. My gut feel is that if you're a good customer that lives within your means and pays your bills off each month and don't carry a balance so they can charge you some "interest" on your revolving accounts, you're not going to get an increase in your credit line.

However, that's my opinion based on my personal experience with Cap One.

[aquatic1]

wow.  Have you ever contacted them to find out why you have yet to receive an increase?

I have bern trying to figure out about getting a rebuilder card and I have had 3 capitol one cards but my last one was charged off.  it was bought by a CA before I could pay it off to them but was trying to figure out if I would be able to get another card from them.