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How to tell if Cap One is bucketed ?

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jaxstraw
Valued Contributor

How to tell if Cap One is bucketed ?

Is it only if you are a 'credit steps' card ?

Or are low CL cards issued w/o the credit steps in the bucket category also ? Say SL of $500 but not credit steps attached.

How would you tell if so ?

Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Message 1 of 13
12 REPLIES 12
Anonymous
Not applicable

Re: How to tell if Cap One is bucketed ?

You request CLIs and see if you get them and if they're good ones.

On a side not. My first card was a $300 limit in credit steps. Got it up to $7500 in 3 years before I stopped using it. By all accounts this card should've been in a "bucket" but it doesn't seem like it was.
Message 2 of 13
Anonymous
Not applicable

Re: How to tell if Cap One is bucketed ?

I would say super small CLIs that are a joke. I've had mine over 2 years and it's barely at $1,450. I requested last week and was denied for lo usage...
Message 3 of 13
Anonymous
Not applicable

Re: How to tell if Cap One is bucketed ?

Small SLs are indicative of a weak profile at the time of approval and more than likely a "starter" bucket.  That can be the case though even with slightly higher SLs; mine was a $3000 SL, but it was a starter bucket due to my profile being weak from 4 (recent) dirty accounts with up to 90-120 day lates present.  Even a few years later after cleaning up my reports and possessing 800+ scores Capital One didn't want to hear anything about a decent CLI.

Message 4 of 13
Gollum
Established Contributor

Re: How to tell if Cap One is bucketed ?


@jaxstraw wrote:

Is it only if you are a 'credit steps' card ?

Or are low CL cards issued w/o the credit steps in the bucket category also ? Say SL of $500 but not credit steps attached.

How would you tell if so ?


Someone with the nickname ABCD2199 posted (11-01-2017) an explanation regarding "buckets:" https://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Card-Asset-Backed-Securities-ABS-and-w...

 

IMHO, if one has a starting limit of $500 with Capital One, it's not really worth worrying about whether or not the $500 credit card  is part of a credit-card asset-backed security.Time will tell. Apparently Capital One will not tell.

Credit Scores: (FICO 8) 846 Experian March 2024, 844 TransUnion March 2024 | (FICO 9) 850 Equifax March 2024
Credit Cards (newest to oldest): NFCU VISA Platinum $25,000 | BECU Cash Back VISA $10,000 | American Express BCE $9000 | Simmons Bank VISA $7500 | Capital One Quicksilver VISA Platinum (PC/upgrade from No Hassle Miles Rewards VISA Platinum) $500
Message 5 of 13
Anonymous
Not applicable

Re: How to tell if Cap One is bucketed ?


@Anonymous wrote:
I would say super small CLIs that are a joke. I've had mine over 2 years and it's barely at $1,450. I requested last week and was denied for lo usage...

 

I was denied also based on lo usage, also denied for hi usage and not making higher payments in their eyes, got a call on Friday about my complaint about this lo usage BS, someone is reseraching this for me and will get back from exc customer service. It annoys when I hear some have over $7500 CI, when I started out with $500 4 years ago and Im just at $4500


 

Message 6 of 13
Anonymous
Not applicable

Re: How to tell if Cap One is bucketed ?

My understanding is that if your credit limit is below $1,000, you're in a "bad" bucket.  That's where I started, but within two months they had upgraded me to Quicksilver, and in about a month I'll get my first Credit Steps increase.  I guess I'll know how "bucketed" I am based on how much love they give me at that time beyond the promised $500.

Message 7 of 13
TheCity
Valued Member

Re: How to tell if Cap One is bucketed ?

So I'm thinking I'm in the same boat. Can someone explain these "buckets" to me?

I had a Cap1 Platinum card for a couple of years. 500 limit. I would routinely get denied CLIs until I finally saw on here that I could graduate it to a Quicksilver. So I did that last November. Just applied for a CLI these last 2 months though and each time got nothing more than a pitiful $100 increase.

I'm currently contemplating accepting the $100 CLI, or just waiting until next month when my scores should be jumping up a bit (fingers crossed on finally cracking 700!)

So you guys are telling me that because of this "bucket" I'm in, that I may as well just focus on getting another card?
Message 8 of 13
Anonymous
Not applicable

Re: How to tell if Cap One is bucketed ?


@TheCity wrote:
So I'm thinking I'm in the same boat. Can someone explain these "buckets" to me?

I had a Cap1 Platinum card for a couple of years. 500 limit. I would routinely get denied CLIs until I finally saw on here that I could graduate it to a Quicksilver. So I did that last November. Just applied for a CLI these last 2 months though and each time got nothing more than a pitiful $100 increase.

I'm currently contemplating accepting the $100 CLI, or just waiting until next month when my scores should be jumping up a bit (fingers crossed on finally cracking 700!)

So you guys are telling me that because of this "bucket" I'm in, that I may as well just focus on getting another card?

Think of it this way:

 

By getting that card, you have effectively purchased a specific product.  The product itself won't change, but you can add a new feature or two via product change.  

 

The $100 CLI is pretty standard prior to your 6-month review and increase.

 

I'd say you'd be better off letting your credit improve and then applying for a card from a better bank altogether.  Capital One is either AMAZING for people with STELLAR credit, somewhat useful for rebuilders, or absolutely usurious for everyone else.

Message 9 of 13
TheCity
Valued Member

Re: How to tell if Cap One is bucketed ?

Gotcha!
Will they tell you when that 6-month increase is supposed to happen? And will accepting the $100 CLI reset that 6 months?
Message 10 of 13
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