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When researching Cap1's GM Buypower card, I noticed no definitive answer on whether it does Credit Steps like actual Cap1 cards. I can confirm it does. There was a little flyer in the welcome packet that said make 5 payments and your limit could increase. This is noteworthy since they HP on manual CLIs unlike real Cap1 cards. FYI.
Oh I thought that was pretty well known...
Also, I've had my card for 15 months; have only received the steps increase. I've hit the CLI request button times and never got a HP. I have been declined each time though
Yes, I received a letter in the mail about a week after I received my card last month about that. After 5 payments they will do an auto CLI from $2000 to a whopping $2500!
What a joke. Cap1 gave me a Venture card with a starting limit of $15k in March which is now at $21,500 and 2% utilization and they only approved me for $2000 last month on the GM Buypower Card. I put one charge on it and will split that into 5 payments and sock drawer it.
"WORLD ELITE" LMAO
@Anonymous wrote:Yes, I received a letter in the mail about a week after I received my card last month about that. After 5 payments they will do an auto CLI from $2000 to a whopping $2500!
What a joke. Cap1 gave me a Venture card with a starting limit of $15k in March which is now at $21,500 and 2% utilization and they only approved me for $2000 last month on the GM Buypower Card. I put one charge on it and will split that into 5 payments and sock drawer it.
"WORLD ELITE" LMAO
Well aren't you just lucky. After my credit steps, I went from $300 to a grand total of $500! I'm only keeping the card for the 0% APR for 12 months, which is up in a couple months! SD!
Current status, before my May statement cuts.... I use this card for tolls, car insurance and XM radio subscription, it adds up....
I believe much different underwriting criteria on the GM Buypower than the Cap1 flagship cards. I figured i would app and get even a low SL, but they denied me on past BK.
They have sent me mailers in the past with suggesting to app, but they weren't prequal mailers. I was rather disappointed in this as i figured a low SL and the credit steps, but to no avail. It's a card i do see personal benefits in, so i will give it a few months and spin the wheel again.