Capital One bucket question, MyFico Vs Reddit

[Jhlowe86]

I have been doing a lot of research regarding the Capital One bucket. 

Looking for research articles and possible proof one or other is correct. 

First, I seen here that the first four digits of the card tells you if you are bucketed or not, any articles that prove it?

And next is getting out of the bucket, Reddit mainly says they got out of the bucket by letting a 95% utilization report and then paying it off right after it reports, they say Capital One likes to see balances for interest reasons.

MyFico Forums mainly say Capital One doesn't like balances Reported and one should use it, max it and pay it off several times before it reports.

I could see both reasons being to get out of the bucket.  Looking for insight, articles and research breaking down the formula, if the research exist. 

Been trying the last 6 months to use 1500+ a month on my 300 limit card, pay off instantly and repeat and haven't had luck yet.

I was thinking of trying to max it like Reddit said, but a little worried, if I am doing it right, Capital One will see me as a risk and never increase it. 

A lot of knowledgeable and responsible people here, so I am looking for any and all opinions!

[AndySoCal]

@Jhlowe86  Here is your answer

https://www.capitalone.com/learn-grow/money-management/bank-identification-number/ 

The simple question is or was how does Visa or Mastercard know how rout the card back to which Financial Institution? The answer is simply somewhere in the account the bank identification number is contained.

If that card you have is a rebuilder credit card lotsa luck in getting CLI. Depending on your scores and what is on your credit report you may better off in opening another account. You have options I would suggest a credit union. 

Also, if your allowing that account to report a balance that exceeds the credit limit that will hurt your credit utilization  IE the credit utilization will exceed a 100% ideally it should be under 10%.

[NoMoreE46]

The first four digits has not been proven to be a true notation here for a bucketed account. I know there is a specific post about this- maybe another user can locate it for you….

With A $300 CL, I dont see an issue of you running 5x against it as long as the spend isnt controversial.
Issuers obviously know what you spend on their cards. Whether you want Others to know what you have spent on said card by letting a balance report is up to you.


In the end, you may never get out of that bucket. You may need to app for another card down the line in like a year.

[Anonymous]

The 5178 (or any xxxx) is a myth. My QS is 5178, started at 3k, and in 3 years is it at 10k; with little spend, and 4 requested CLIs.

Possible 5178 could be a predictor, but by no means fact.

I suggest looking for BrutalBodyShots on reddit and following his advice for Capital One CLIs.

(And what NoMoreE46 and AndySoCal said)

[GZG]

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@Jhlowe86 wrote:

A lot of knowledgeable and responsible people here, so I am looking for any and all opinions!

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the biggest thing is why is your credit limit $300?

is it $300 because you applied with no credit history or because your credit score was 500? 

if it's because your credit score was 500, I'd stop wasting the effort to CLI it and apply for another card when your score drastically improves

if it's because your credit was new, I'd be waiting for one of those hot $300 - $2-5k CLIs that have been reported before 

but regardless, I'd report a balance, if you're not applying for anything, no reason not to, it puts the balance on your credit report and you'll be able to show that you're paying it off in full by doing so

[Varsity_Lu]

My Quicksilver started with those "bucketed" numbers (there are a few different ones floating around), but it went from $2k to $12k in 18 months. I think it's just people dumping on Capital One and stirring the complaining pot.

[dfwxjer]

Regardless of why it's bucketed, there's no reason to waste time running 3-5x your CL through the card. 

On a $300 limit you should charge a streaming service to the card once a month, let the balance report (make sure it's less than $30), then immediately pay it off once the statement cuts. Use a debit card for all remaining spending. 

If you are new to credit then you will quickly boost your score and you can apply for good cards in 6-12 months and sock drawer the Cap1 card until you want to close it. 

If it's due to bad credit then this method will also help but can take longer to dillute derog items on your report. 

Either way, a $300 card is more hassle than it's worth to use as a "daily driver". With a $300 card one should not be concerned with cashback, rewards or any card benefits and instead focus on treating it correctly to position themself to get better cards in the future. 

[Gollum]

@Jhlowe86,

I'm not sure if a myFICO post counts (to you) as a "research article," but you will probably find the information about "Credit Card Asset-Backed Securities (ABS) and why some subprime card never grow or graduate" interesting at this URL -> https://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Card-Asset-Backed-Securities-ABS-and-w...