Does PCing a card change it's bucketed status?

[Srivera718]

So I've had a Cap1 Quicksilver for about three years now that's only seen a 300 CLI to bring it to a whopping $3,300. I've requested 2 CLI on the card and both were denied even though the card was getting frequent use. I  stopped using it a couple months ago but recently PCd it to a Venture. Since I did that do you think regular use again opens up possible CLIs or is the card bucketed regardless?

[FinStar]

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@Srivera718 wrote:

So I've had a Cap1 Quicksilver for about three years now that's only seen a 300 CLI to bring it to a whopping $3,300. I've requested 2 CLI on the card and both were denied even though the card was getting frequent use. I  stopped using it a couple months ago but recently PCd it to a Venture. Since I did that do you think regular use again opens up possible CLIs or is the card bucketed regardless?

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The PC does not change the way the account is inherently coded, unfortunately. Though, in the normal course of periodic account reviews and portfolio performance, a variety of accounts shift from one tranche to another. Most of it driven by profitability and performance.

Personally, unless you see any value (benefits-wise) with Venture and it's annual fee, I wouldn't switch. 

Is your QS a Visa or MC?

[Jonesie]

Had a friend with a Cap 1 Platinum card he opened 6 years ago. Started at $300, and was at $4,800 as of October. Asked for a CLI and was denied. Yet in December he applied and was approved for a Venture X with $30k SL.  

Cap 1 decides the cards fate when it's issued, and not much can change that. 

[Zoostation1]

While I generally agree, aren't the buckets not always fully set it stone when the account is first opened (especially if the account isn't a $300 or $500 limit and gets heavy usage)?

[OmarGB9]

Unfortunately not.

[SweetCreditObsession]

It's been my experience that when the capital one card is bucketed it does not change buckets, whether you spend a lot on it or not. Many will find that they can get a new capital one card that has a higher starting limit and that is not bucketed. This is due to their profile having improved

[FinStar]

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@SweetCreditObsession wrote:

It's been my experience that when the capital one card is bucketed it does not change buckets, whether you spend a lot on it or not. Many will find that they can get a new capital one card that has a higher starting limit and that is not bucketed. This is due to their profile having improved

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And, by the same token, we have seen other members report success with growth in what they may have considered a lost cause with their bucketed card(s). 

That being said, a variety of lenders who have tranched products tend to 'move' them around based on portfolio performance, profitability and other factors. The bottom line is we'll never know who is perpetually 'stuck', but we also have learned that things 'move' around since some members have reported some successes in their existing accounts.

[Jonesie]

So the obvious question for me would be: Now that I have good credit and a longer history, would it be wiser to kill the ghetto card and use my energy on more promising prospects? 

After all, having 5 cards with a $3k+ CL and a couple $600 cards would lower the SL on prospective cards I'd want to open in the future. 

The credit history will stick around for 10 years, and I can always revisit Cap One for the same or different card with better conditions. 

[OmarGB9]

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@Jonesie wrote:

So the obvious question for me would be: Now that I have good credit and a longer history, would it be wiser to kill the ghetto card and use my energy on more promising prospects? 

After all, having 5 cards with a $3k+ CL and a couple $600 cards would lower the SL on prospective cards I'd want to open in the future. 

The credit history will stick around for 10 years, and I can always revisit Cap One for the same or different card with better conditions. 

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That's a myth. Lenders will give you whatever SL they're comfortable with based on your income and credit profile, regardless of your current limits. 

It's up to you whether you want to keep trying to nurse the small limit, or rip off the bandaid and close it altogether. As you said, it'll remain *up to* 10 years if closed.

[Rogue46]

I had the same experience as others opening a second card. First one was a QS with a SL of $1k. Second was a venture at $15k which seems to be the way cap1 operates or use to at least. Personally I would close that card and move on.