Cap1 Credit Steps

[Anonymous]

Not exactly what I was expecting, but I will take it anyway.  This is NOT an "approval" post, but more informational.

I hopped on chat today to question my cycle/statement date and question my steps eligibility date.

I had previously called last month about something unrelated but discussed steps eligibility which I was told beginning of Dec.

I got approved in June($300 SL) and Credit Steps enrollment shows 06/12/2015.

I had heard various "Statement Cut" dates for the next step.

I have been focused on putting spend on this account for rewards as well as hopefully seeing a larger increase.

After my 2 month mark, I clicked the Luv button and received a $500 CLI.  $800CL worked for me considering initial approval was $300.

Time passes and I put some moderate spend on it.  NEVER carrying a balance and paying a few times a month.

Today... $4k through the card this month, zero balance as the statement cut yesterday(11/27)

So after being told in chat about the cycle date being 11/27, etc... we moved into the steps discussion.

He reflected to the previous CLI before telling me that I would be eligible to apply for a CLI in 6 months.  But then came back around to steps talk.

Gregory12:00 PM
You need to activate and use your card within the first five months of the account being opened.
Gregory12:00 PM
And, of course, make your payments on time.

Gregory12:00 PM
If you follow all of the required steps, you will receive your full pre-qualified credit line by your 7th billing statement.
Gregory12:00 PM
As long as you missed only one of the required steps, you should see your full pre-qualified credit line by the 10th billing statement. **

Gregory12:01 PM
As long as you follow the required steps, your full pre-qualified credit line will be $1050.00.

** I know I didn't miss a step unless not using the card with a zero balance is considered a missed step? Or possibly his "script" for someone who possibly did miss a step?

So.... they already know your qualified amount?!?!

I was under the impression that it would vary based on responsible use and amounts.  I guess this is my question?  Or did I discover something?

Or could it be a "current estimate" of what their computer is telling them.  Dunno, thoughts?

[Anonymous]

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@Anonymous wrote:

Not exactly what I was expecting, but I will take it anyway.  This is NOT an "approval" post, but more informational.

I hopped on chat today to question my cycle/statement date and question my steps eligibility date.

I had previously called last month about something unrelated but discussed steps eligibility which I was told beginning of Dec.

I got approved in June($300 SL) and Credit Steps enrollment shows 06/12/2015.

I had heard various "Statement Cut" dates for the next step.

I have been focused on putting spend on this account for rewards as well as hopefully seeing a larger increase.

After my 2 month mark, I clicked the Luv button and received a $500 CLI.  $800CL worked for me considering initial approval was $300.

Time passes and I put some moderate spend on it.  NEVER carrying a balance and paying a few times a month.

Today... $4k through the card this month, zero balance as the statement cut yesterday(11/27)

So after being told in chat about the cycle date being 11/27, etc... we moved into the steps discussion.

He reflected to the previous CLI before telling me that I would be eligible to apply for a CLI in 6 months.  But then came back around to steps talk.

Gregory12:00 PM
You need to activate and use your card within the first five months of the account being opened.
Gregory12:00 PM
And, of course, make your payments on time.

Gregory12:00 PM
If you follow all of the required steps, you will receive your full pre-qualified credit line by your 7th billing statement.
Gregory12:00 PM
As long as you missed only one of the required steps, you should see your full pre-qualified credit line by the 10th billing statement. **

Gregory12:01 PM
As long as you follow the required steps, your full pre-qualified credit line will be $1050.00.

** I know I didn't miss a step unless not using the card with a zero balance is considered a missed step? Or possibly his "script" for someone who possibly did miss a step?

So.... they already know your qualified amount?!?!

I was under the impression that it would vary based on responsible use and amounts.  I guess this is my question?  Or did I discover something?

Or could it be a "current estimate" of what their computer is telling them.  Dunno, thoughts?

---

Hi Tony.

I will be interested in following your journey.  I only have a secured card, so I don't know about their credit steps.  Probably won't find out until my secured card is a year old.  I think from what I've read in the forums,  it's a YMMV kind of thing.  Some individuals have gotten more than what was promised and some exactly what is promised  I don't think you will really know until you hit the end of your credit steps  Sounds like you've given the card a lot of swipes so far, so it's not like they haven't made money off of you.  Just keep doing what your doing and when the time comes, you will know for sure.  Get your scores up and keep trying the prequal site and maybe you will hit the eligibility for a Venture or Venture 1 where the limits are at least $5k and $3k respectively. 

[Anonymous]

I had initally thought that my Credit Steps would be complete on this card(QS1) after this statement, and my Plat(recently converted to QS) the following month.

At which point I would have both stepped and eligible to be merged into a single QS with the new combined limit.  But by the looks of what is going on, I don't think that plan is going to work out at the current rate.

Future months would have seen a prequal attempt.  But as of right now, I have to see where the steps lead.

I'll update my sig with scores, etc later.  Still displeased with losing account and post count during my myFico account confusion :/

[bstone]

There should have been a letter back when you first activated the card telling you what your CLI would be after graduating the Steps. That being said, it's not always followed.

Mine and my wife's cards started at $500 each, according to the letter all four cards were supposed to increase to $750. After the CLI both of hers went to $750 but both of mine went to $2500. Same spend strategies, similar credit profiles and similar income. Not sure why the difference.

[krisssmmm]

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@Anonymous wrote:

Not exactly what I was expecting, but I will take it anyway.  This is NOT an "approval" post, but more informational.

I hopped on chat today to question my cycle/statement date and question my steps eligibility date.

I had previously called last month about something unrelated but discussed steps eligibility which I was told beginning of Dec.

I got approved in June($300 SL) and Credit Steps enrollment shows 06/12/2015.

I had heard various "Statement Cut" dates for the next step.

I have been focused on putting spend on this account for rewards as well as hopefully seeing a larger increase.

After my 2 month mark, I clicked the Luv button and received a $500 CLI.  $800CL worked for me considering initial approval was $300.

Time passes and I put some moderate spend on it.  NEVER carrying a balance and paying a few times a month.

Today... $4k through the card this month, zero balance as the statement cut yesterday(11/27)

So after being told in chat about the cycle date being 11/27, etc... we moved into the steps discussion.

He reflected to the previous CLI before telling me that I would be eligible to apply for a CLI in 6 months.  But then came back around to steps talk.

Gregory12:00 PM
You need to activate and use your card within the first five months of the account being opened.
Gregory12:00 PM
And, of course, make your payments on time.

Gregory12:00 PM
If you follow all of the required steps, you will receive your full pre-qualified credit line by your 7th billing statement.
Gregory12:00 PM
As long as you missed only one of the required steps, you should see your full pre-qualified credit line by the 10th billing statement. **

Gregory12:01 PM
As long as you follow the required steps, your full pre-qualified credit line will be $1050.00.

** I know I didn't miss a step unless not using the card with a zero balance is considered a missed step? Or possibly his "script" for someone who possibly did miss a step?

So.... they already know your qualified amount?!?!

I was under the impression that it would vary based on responsible use and amounts.  I guess this is my question?  Or did I discover something?

Or could it be a "current estimate" of what their computer is telling them.  Dunno, thoughts?

---

I think it's after the 6th statement that you get the CLI. So after you receive your 6th statement you should get an e-mail and a letter in the mail. I noticed my available balance change before I got the email + letter though. You're still getting two increases in 6 months though, yay! CO is really generous it seems. I went from $300 to $3300 (I didn't know about the early increase option tho and on another acct that I did early CLI, I went from $300->800->1300). Keep us posted!