Cap1 possible bucket ??

[Eyepinpools]

I have two cap one cards. My first started as a plat with 1k SL. That card had an auto CLI to 1.5k that was shown would happen in app after 6mo on time payments. It has since been PC'd to QS all prompted automatically. The card is about two years old and has been denied CLIs on every request. I used to put the full CL each month and PIF before report. I am assuming it is bucketed. 

My other card from them is a QS opened in January with a 3k SL. That card has had one auto CLI to a whopping 3.3k. Neither card gets more than $100 month spend anymore as I have better cards. I doubt either will continue to grow based on my spend. 

[Gollum]

Here is a URL for the post that I think was the origin of the Capital One "bucket" stuff (and subsequent misunderstandings regarding "bucket"):

https://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Card-Asset-Backed-Securities-ABS-and-w...

[FLLGuy]

@Gollum- Very nice find and great insights! thank you for that.

@Bippy_33, @TexMex90  - Gollum's post makes total sense and helps answer the delineations behind the black curtains @ CAP1 that we're unfortunately not privy to. 

I'll share with you my own personal example:

• My wife and I burned CAP1 in our 5yr/BK 13 well over $10K and paid back 100% to plan and recently discharged on 7/30/21. 
• My wife gets prequalified through CAP1's site for most cards including (QS no/AF, Savor1, Venture1).  She app'd and got Savor1.
• Myself on the other hand I'm shown (QS1 w/AF, Secured, Platinum) and yet my credit profile is stronger compared to hers w/decent income but not favorable enough for CAP1.  Also, my wife had higher balances when we filed BK13 contrary to my smaller balances.

In summary, CAP1 owns this space meaning they're the "doormen" sort of speak who opens the door and says "welcome back to credit, we miss and forgive you". IMHO i'd prefer CAP1 over some of the other alternatives.  To be bucket or not to be bucket is the question?  Totally agree it would be easier to have the guarantee in product change (pc) and avoid the bucket.  But our doorman "Cap1" may sometimes ask us to hold the bucket without our knowledge and we may not know why until we realize "wait, they haven't offerred an upgrade" and it's time to app once more 3xHP for another card.

[TexMex90]

@Gollum Fascinating read! Sounds like "buckets" are how we explain something with little information. The inner workings behind the scenes make sense now.

[CreditJourney007]

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@Eyepinpools wrote:

I have two cap one cards. My first started as a plat with 1k SL. That card had an auto CLI to 1.5k that was shown would happen in app after 6mo on time payments. It has since been PC'd to QS all prompted automatically. The card is about two years old and has been denied CLIs on every request. I used to put the full CL each month and PIF before report. I am assuming it is bucketed. 

My other card from them is a QS opened in January with a 3k SL. That card has had one auto CLI to a whopping 3.3k. Neither card gets more than $100 month spend anymore as I have better cards. I doubt either will continue to grow based on my spend. 

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Interesting. My Plat was opened in April/May with a SL $3000 and I'm wondering what my 6 months auto CLI will be. I also have a QS that never gets a CLI, so I am not holding my breath for the Plat to have a nice bump. 

[Bippy_33]

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@FLLGuy wrote:

@Bippy_33  - Congrats on your discharge new healthier credit habits to look forward to.

Cap1 is very forgiving and allows folks back in after discharge despite burning them in BK (for most, as i've heard a handful of cases some had to wait 1yr after discharge).  To answer your question, Yes, the CAP1 PLAT (platinum) card is a starter card but i wouldn't call it a "bucket card".  Here's why, most have reported allowed back in with SL (starting limit) of either $300 or $3,000 on the Platinum then between 3-6mos with good spending habits and ontime payments you're offerred the option to upgrade to QS (QuickSilver ...not the QS1 which has an AF).  QuickSilver can grow to higher limits as you'll find throughout these boards and possibly even qualify for higher tier CAP1 cards.

Summary: Not a bucket card but rather a starter card.   If you don't see the upgrade option between 3-6mos range you can try the following link https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade

Hope this helps.

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I tried the link but, it doesn't work.

[TexMex90]

@Bippy_33 That link hasn't worked for a while. The new way is to click on one of your cards on the website and then add /productupgrade after the =. It will either tell you there isn't an upgrade available or it will open up an offer for you. I used this method to upgrade my Platinum to a Quicksilver.

[FLLGuy]

Hey yall - thought I'd circle back and share a new success story on cap1

https://ficoforums.myfico.com/t5/Bankruptcy/Hope-for-quot-bucketed-quot-Capital-One-Cards-Another-gr...