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Disappointed

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Valued Contributor

Disappointed

I completed the credit steps on my Capital One platinum card and they really only took me from $500 to $750.....since I got the card I’ve ran at least $6000 in spend on it despite the low limit, I thought it would be rewarded like the last time I had credit steps (instead of $300 to $500 they gave me $1300). Maybe my BK is an issue? I burned them for about $30,000
Currently awaiting BK discharge ?
Message 1 of 10
9 REPLIES 9
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Established Contributor

Re: Disappointed

Did you try the pre approval site. Maybe you can move up to one of the better cards. You probably have a bucket card. Won’t go much further. GL

CARDS: Discover It | QuickSilver One | Open Sky | Kohl’s | BB&T Spectrum Cash Rewards | NFCU CashRewards | NFCU More Rewards | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 2 of 10
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Super Contributor

Re: Disappointed

If your spending that much on the card. Least get it upgraded to a QS and get cash back:

https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade

 

Cap1 has gotten stingy compared to 2015-16. Use to be easier. But times have changed. Once a starter, always a starter. Good luckon the upgrade!





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 3 of 10
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Valued Contributor

Re: Disappointed

I did get the QS1 about 2 months ago. I’ve already racked up $35 in rewards so you see I spend a lot. They increased me $100 :/
Currently awaiting BK discharge ?
Message 4 of 10
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Regular Contributor

Re: Disappointed

Well, this is disappointing to hear.  My Platinum only went up to $500 CL at the credit steps mark, but that was before I found out they like a lot of spend.  I've used it a lot more since then in the hopes that I would get a decent CLI at the year mark coming up after this month's payment posts.   

 

BUT I have a QuicksilverOne, on credit steps, with one more payment to go.  It had a SL of $1,000, now at $1,100 after a CLI at three months.  I have consistently put a lot of spend on it, usually over the CL, making multiple payments during the month.  This month so far I've put  around $1,450 on it.  I have been hoping to get more than the promised $500 CLI.  Reading your post now deflates my hopefulness in that regard.   I have a charged-off account with them I am paying down, now at $1,366, from the original $3,966.  But now I wonder if that is going to hold me back from a higher CLI, like you fear your burning them in BK did.  I will be happy enough with the $500 CLI, but really was hopeful it would be more.  Well, actually now a $400 CLI, since I've already received $100 of the $500 credit steps CLI.

Open Credit Cards:
Green Dot Primor Secured (5/18) - $450 CL (Closed 2/2020)
Capital One Platinum (8/18) PC'd to Quicksilver (9/19) - $700 CL
Capital One QuicksilverOne (3/19) - $1500 CL
Merrick Bank DYL VISA (6/19) - $1400 CL 1/8/2020)
Discover it Cash Back (9/19) - $1000 CL

Experian FICO Score - 8/2018: 528
Experian FICO Score - 11/2019: 653
Message 5 of 10
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Community Leader
Senior Contributor

Re: Disappointed


@Rebuild2019 wrote:
Did you try the pre approval site. Maybe you can move up to one of the better cards. You probably have a bucket card. Won’t go much further. GL

This ^^^ sounds like a classic starter bucket from Cap One. If you insist on keeping the card, it probably won’t go up much for you. I would see if you can graduate to something better. Savor? Venture? Another company entirely? 

Good luck! 

Discover It: 19.7k
Amex BCE: 18k
Citi DC: 6.7k
~~~~~~~~~~~~~~~~~~
Once you go Berner, you never go back.
Message 6 of 10
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Valued Contributor

Re: Disappointed

I mean this in the nicest way. You need to adjust your expectations, you are less than a year from your BK discharge and you burned cap1 for 30k. Be happy they are forgiving enough to give you cards again.
Scores hover around 800
Haven't been AZEO in over a year
Rome was not built in a day, neither is a good credit profile
Message 7 of 10
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Valued Contributor

Re: Disappointed

To be honest, I never saw big CL's until about 2 and half years after my bankruptcy. At the 5 year mark, I started getting 10k limits without having to do recon's.

 

Just give yourself time. You will see some high CL's in a while.

 

Guyatthebeach

Message 8 of 10
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Community Leader
Mega Contributor

Re: Disappointed

I think when we burn banks, whether it be $10 or $30k, we should be grateful for second chances and not worry so much over the limits given. We did not live up to our part of the bargain regardless of the reason and to boot, not every lender gives a second chance or makes you wait years. Im still blacklisted from my local bank after burning them and they make Amex and Chase bl look like they were Capitol OneSmiley Wink. PerspectiveSmiley Happy
Message 9 of 10
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Valued Contributor

Re: Disappointed

AJC, 

 

I totally agree. I have made it back in with almost every creditor execpt Chase and Bank of America. I was shocked and surprised when I was able to get my highest CL with CapitalOne after I burned them for $5500.  

 

I'm absolutely thankful for what I've been able to do financially since my bankruptcy. I have save more money post bankruptcy while still making less.  I litereally only pay interest of 2 balances and PIF on everything else. 

 

I know if I can do it, so can everyone else

 

You're right, it's all about prospective!

 

Guyatthebeach

Message 10 of 10
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