Capital One Credit Steps CLI

[Mandazoid]

Hi, everyone.

I received a Capital One Classic Platinum Mastercard in February (CL of $500), along with a note stating that I was enrolled in the Credit Steps program and could expect to receive a CLI to $750 by my 7th statement, as long as I met the criteria. The criteria were easily met and I received my CLI this past week.

Does the Credit Steps program extend beyond the initial CLI, or is there any way to know when my next CLI will occur and how much of an increase it will be? I'm aware that Capital One is no longer taking customer-initiated CLI requests and I'm not getting overeager for them. I'd just like to know what will be coming down the pipeline eventually and when I can expect to see it.

[Anonymous]

I'm in the Credit Steps program, and after receiving the increase to $750, I received an additional CLI of $1,000 two months later, for a total of $1,750.  I also received an offer for their rewards card a few weeks after that and was approved.  In a few months, I'd look for a message from Capital One stating that you have a document waiting for your review (if you're enrolled online), and that's when they'll advise you of the CLI.  At least that's what happened in my situation.

Good luck!

[Mandazoid]

A $1,000 increase? WOW. I think I'd shriek and do a happy dance around my apartment if I got that much. Fingers crossed!

Thanks for letting me know how yours turned out!

[snowangel]

How do you know if you are in the Credit Steps Program? I have a Platinum MC, starting CL of $500, and $39 AF.  Just wondering if/when I can expect a CLI from them.

[Mandazoid]

You should have received a letter about it when you first were approved for your card. If you're enrolled in online banking for your account, sign in and check the "Documents" link. There should be a letter there telling you about the Credit Steps program.

[snowangel]

Nothing there.  Thanks.

[jo75olds]

Nothing there for me either, never recieved this notice, I too have a Cap One with $500 SL

[Anonymous]

No problem.   What are your scores like?  Do you have any other accounts?

[Mandazoid]

My CK FAKO score is sitting at 648 right now (up from 609 in March), but I expect that to be going up a bit again in the next week or two, as I've reduced my CC utilization rate by 11% since the last reporting date. When I received my Cap One card in February, my approval letter showed that my Experian score was 650-ish, so I'm hoping that my actual score is still significantly higher than my FAKO that I'm currently working with.

I also have a CareCredit card that I got in May to help pay to extract all six (yep, SIX) wisdom teeth. It has a $1200 CL and my balance on that is down to $388. My balance on my Cap One card is nada. My Cap One card is the only hard inquiry that's showing on CK. The only other credit I have are my student loans which are currently in repayment. My balance on those are currently $12k, combined. I'm hoping to get my first auto loan sometime mid- to late-next year (with a 20% down payment, of course). I would also like to get another credit card between now and then to increase my overall credit availability, as well as my number of accounts, but the idea of hard inquiries (and possible rejections) makes me cringe.

[jo75olds]

I'm still working on building Credit (Only 18, and the Cap One Card was the first card I got) Got it like 3 months ago, last time I checked my scores they were like 450s, but I now have another card (Amazon Store Card) to use to help build credit as well.

I tend to use the card (as much as a card with $500 CL can be used) then pay it off, every month, before the billing date

Jim