Capital One - Credit Steps

[Anonymous]

What's this BS I get from CapOne?  Around March 20th, just after the 6th statement cut, I called to ask for a CLI.  It was declined, and the rep said they letter to follow would say why.  Well the letter says the reason is that the "Present credit limit on current account has not been maintained for at least six months."

Of course not!  I got a CLI just after the 3rd statement, and Credit Steps kicked on on the fourth, so the "present credit limit" has only "been maintained" for 2 months.  Next month, Credit Steps should kick in again.  Will that reset the time period?  Can I call and ask them to reconsider?  Should I wait until just before the 7th statement cuts?  I'm a bit mad at them for giving that as the reason.

[clocktick]

I received the same reasoning a couple of weeks ago.  You can always call and ask.  I actually wish more cards were like them - they tell you exactly what your CLI will be (credit steps) and when.  If you try to go for an additional CLI please let us know what happens.  I may wait for 6 months after the last of the steps kick in.

[Anonymous]

Ok Ive been wondering about this.  I am supposed to receive my Credit Steps increase on this statement.  My statements come on the 3rd of the month.  I have one for January, Feb. and March so I should get the increase in April right?

[Grape]

I have been told we can expect the increases on the date the statement is set to cut, or the day after.

[Anonymous]

Thank you!  I havent seen anything updated online yet, so I'll just wait! 

[Anonymous]

Got my increase as promised!  Awesome!!!

[llecs]

Ditto. Me too. Went from $300 to $750.

[hawkeye33]

I'm wondering if I'll get a surprise when my first Credit Steps CLI hits. I applied for and received back in March a Cap One Platinum MC. No AF, and I was hoping for a starting CL of $500 or so. Scores were roughly 630/648/664 at time of applcation.

When I received my card, I was pleasantly surprised to find initial CL of $3000. I just got a Credit Steps letter today that DOES have the reminder stickers AND references two CLIs (one after 3 on-time payments to hit account within first 4 statements, and a second to hit account within first 7 statements).

My fear is that somehow there was a glitch or typo in the initial CL and that when my first Credit Steps CLI kicks in, I'll actually see a CLD to correct the initial error. Hopefully, just being paranod, but I sure don't see many in these forums getting initial CLs from Cap One in line with mine...

[Roxlie]

I started with a 3k limit and first credit step increase was to 3.5k.  I didn't know there would be an additional step but I guess I'll find out in a month or so.

Actually they do call it "credit steps" which implies more than one..so here's hoping!

[clocktick]

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@hawkeye33 wrote:

My fear is that somehow there was a glitch or typo in the initial CL and that when my first Credit Steps CLI kicks in, I'll actually see a CLD to correct the initial error. Hopefully, just being paranod, but I sure don't see many in these forums getting initial CLs from Cap One in line with mine...

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You'll be fine.  I started with $3000 too and the first "step" kicked in and it went to $3500 like the poster above me.