Cap1 low limit qs1, no credit steps?

[Anonymous]

Is it possible to have a low-limit cap1 card that is not bucketed?  

Background,  I started with a platinum with an initial $300 limit that upped to $500 via credit steps.  I am given to understand this means the card is bucketed.  I PC'd it to a QS and am resigned to it having a low limit.  

I also applied for a QS1 and was approved also at $300, but there is no indication of credit steps on my profile like there was with my other.  Is it possible that this card is not bucketed despite the low limit?  

Thanks!

[Brian_Earl_Spilner]

All of their cards now have a steps like increase. If they're calling it credit steps, it's probably bucketed. If you have a low limit, it's probably bucketed.

[glockrunner]

Capital One is a joke. I made the mistake of applying for them over a year ago. Pulled 3 credit bureaus for the crappy Platimum. Got a $2k limit and after 6 months got an auto increase to 2.5k. They will no longer give me a CLI because I am not charging 1k a month for their crappy card with high interest. Nor will the let me upgrade to a QS. I was charging $400-500 a month but that wasn't good enough.

Over the past 8 months, I have acquired a NAVY cash rewards card and an AMEX PCP. Both give me money back and have a total credit limit of 51k between the 2 cards. Capital One will hold you back and I would recommend moving to other cards that will grow.

Soon I will be closing CO! 

[Anonymous]

That's too bad.   So even if I don't see the credit steps tracker on my dashboard, I should at least see a small CLI in 5-6mos?

[Brian_Earl_Spilner]

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@Anonymous wrote:

That's too bad.   So even if I don't see the credit steps tracker on my dashboard, I should at least see a small CLI in 5-6mos?

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Yes. Credit steps usually requires a balance to post to your statement for 5 consecutive months along with on time payments. I don't think we've tracked whether the regular increase requires both of those.

[Anonymous]

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@glockrunner wrote:

Capital One is a joke. I made the mistake of applying for them over a year ago. Pulled 3 credit bureaus for the crappy Platimum. Got a $2k limit and after 6 months got an auto increase to 2.5k. They will no longer give me a CLI because I am not charging 1k a month for their crappy card with high interest. Nor will the let me upgrade to a QS. I was charging $400-500 a month but that wasn't good enough.

Over the past 8 months, I have acquired a NAVY cash rewards card and an AMEX PCP. Both give me money back and have a total credit limit of 51k between the 2 cards. Capital One will hold you back and I would recommend moving to other cards that will grow.

Soon I will be closing CO! 

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To be fair, comparing NFCU limits, and Amex limits even, to most banks isn't really a comparison.

Capital One gives starter cards to anyone, whether it's to build or rebuild, I'm guessing it must've helped you right?

[glockrunner]

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@Anonymous wrote:

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@glockrunner wrote:

Capital One is a joke. I made the mistake of applying for them over a year ago. Pulled 3 credit bureaus for the crappy Platimum. Got a $2k limit and after 6 months got an auto increase to 2.5k. They will no longer give me a CLI because I am not charging 1k a month for their crappy card with high interest. Nor will the let me upgrade to a QS. I was charging $400-500 a month but that wasn't good enough.

Over the past 8 months, I have acquired a NAVY cash rewards card and an AMEX PCP. Both give me money back and have a total credit limit of 51k between the 2 cards. Capital One will hold you back and I would recommend moving to other cards that will grow.

Soon I will be closing CO! 

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To be fair, comparing NFCU limits, and Amex limits even, to most banks isn't really a comparison.

Capital One gives starter cards to anyone, whether it's to build or rebuild, I'm guessing it must've helped you right?

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Sure it's fair! I had other cars too besides Capital One. I didn't know better about cards and thought it was a good card until I came to this board and learned. You can have your opinions on what you like and I have my opinion on what I think is a good card. I was just offering my advice to the OP and your comment isn't all all related to what he was asking. 

[glockrunner]

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@Anonymous wrote:

That's too bad.   So even if I don't see the credit steps tracker on my dashboard, I should at least see a small CLI in 5-6mos?

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Not necessarily and probably doubtful. If you get one it will be small

[krmurrayjr10]

I started my rebuild with Capital One many years ago. I applied first for a QS One and received a $500 limit, followed by their "Platinum" a few months later, also with a $500 limit. Both received their "steps" increases to $750 within the first year.

Fast forward many years, after several product changes, CLIs, and 1 account combination, and 2 cards with a $500 per card SL each have become 1 Venture card with a $6500 limit.

I hardly use it now, but the greatest CLIs came during times when I was using the card(s) heavily and making large payments. Some of the CLIs came unsolicited. Conclusion: the cards can grow, but will only do so if your credit report isn't showing distress and if you're making heavy, responsible use of their card(s).

[MerMer495]

Cap1 was my first unsecured credit card when i started my rebuild 3 years ago.  My first card was the Platinum with a SL of $300 then bumped up to $500 after credit steps.  I applied for the QuickSilver and got the same deal as the Platinum.  I've PC'd the Platinum to a QS1. I've gotten 2 CLI of $100 on each card which bumped the limits to $700 each. These cards did what they are supposed to do and I've "out-grown" them.

I'm trying to figure out how can I get rid of the QS1 with the AF. If i dont get a PC offer i may just try to get these account to $1000 each then probably combine the accounts together.  The way it's going now I might get there in 1.5 years LOL