Capital One Credit Card

[bridgetkaryn]

Hi All,

So as much as I hate it, I applied and was approved for a Capital One card with a $1000 CL. 2 questions for everyone...

1. When does CrapOne usually Report to the CRAs?

2. So I have read people saying stuff about CLI increases after 3 months, if you make payments on time etc...  Can someone explain this to me a little bit? How it works? How do I know if I qualify for this CLI? do I need to call the backdoor number before the 3 months to get the double increase? When should I call that number exactly?

Thanks!

Bridget

[bridgetkaryn]

:bump:

[Schoolbuskid]

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bridgetkaryn wrote:

Hi All,

So as much as I hate it, I applied and was approved for a Capital One card with a $1000 CL. 2 questions for everyone...

Congrats!

1. When does CrapOne usually Report to the CRAs?

They told me they report the 5th of Every months to the bureaus!

2. So I have read people saying stuff about CLI increases after 3 months, if you make payments on time etc... 

Most of the time...they will grant increase...alot of people are put in the credit steps programs...i believe it guarantees a increase! CSR told me they increase every 3 months!

Can someone explain this to me a little bit? How it works? How do I know if I qualify for this CLI? do I need to call the backdoor number before the 3 months to get the double increase? When should I call that number exactly?

I think you call before your 3rd billing statement cuts! I may be wrong!

Thanks!

Bridget

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[Anonymous]

Depends on what kind of card they gave you. They are typically pretty stingy.

[bridgetkaryn]

How do I find out? And do I need to enroll in this program?

Thanks!

Bridget

[Anonymous]

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Schoolbuskid wrote:

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bridgetkaryn wrote:

1. When does CrapOne usually Report to the CRAs?

They told me they report the 5th of Every months to the bureaus!

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Cap1 reports on the statement date.  The actual date will vary from person to person.

[Anonymous]

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bridgetkaryn wrote:

How do I find out? And do I need to enroll in this program?

Thanks!

Bridget

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You don't need to enroll.  If you have a Credit Steps card, it will be automatic.  You should get a notice in the mail telling you all about the program within the first few weeks of having your card.

Message Edited by cheddar on 07-06-2008 06:13 PM

[Anonymous]

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@Anonymous wrote:

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@bridgetkaryn wrote:

How do I find out? And do I need to enroll in this program?

Thanks!

Bridget

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You don't need to enroll. If you have a Credit Steps card, it will be automatic. You should get a notice in the mail telling you all about the program within the first few weeks of having your card.

Message Edited by cheddar on 07-06-2008 06:13 PM

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I agree with cheddar. If you were approved for one of the subprime Capital One cards, you should get a letter in the mail detailing the Credit Steps program.

It basically works like this: use the card at least once a month for the first three months, make your payments on time, and don't exceed your CL, and you should see a $500 CLI on the fourth statement.

As for the double CLI, I was approved for $1000 and was able to CLI via the backdoor number listed in the Backdoor Numbers sticky thread to $1500. On the fourth statement, I was CLI'd to $2000.

[Anonymous]

Also, If you do a search you'll find tons of threads on this subject.