Quicksilver CLI (Lack of)

[Jnbmom]

I was bucketed as well, went from 300SL to 1250 SL in 17 months and stuck there, I finally closed it. It served it's purpose of course.

I will probably not apply for anymore Cap one cards though, I can never justify  3 hard pulls for any card, especially them.

[Brian_Earl_Spilner]

You have to establish a pattern so you'll have to charge and payoff for 3 months. Of your card is bucketed, it really won't help much.

[UncleB]

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@Dirge wrote:

I thought my QS was bucketed at $3.5k; it started at $3k as a QS1 when I had really crappy credit (as opposed to my mostly crappy credit now!) and had an automatic $500 CLI at 6 months (must have been credit steps). For a  year I checked every few months and got only $500 CLI offers, which I refused. Then in May I tried for $1,500, to bring myself to $5k, and they came back with a $3k CLI for $6.5k. Nothing had really changed, my credit score was going up by a point or two a month, but it was my main card and I had been using it a lot, running it up to around $1k and paying it off each month. All of my bills go through it. Note that my May attempt was the first time through the newish Cap1 option of choosing how much to ask for. 

Just a data point that if you *are* bucketed, your bucket might be bigger than you think. (I do know that $6.5k might still count as a bucket.)

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+1

My Savor started off 11 years ago as a HSBC/Orchard Bank 'Platinum' card with a $300 credit line; it's now at $5900.  I suspect it would be a bit higher if I ever used it; my last several CLI attempts have been denied for lack of use.

I believe 'bucketing' is real, however it can still vary quite a bit from person-to-person.

[MakingProgress]

My QS started as a QS1 in credit steps with a $300 SL, at that time I had a EX FICO 8 of 612.  No idea about TU and EQ.   That month was the first time I had topped 600 in my rebuild.  This was July 2017, and the only other card I had at the time was a secured Cap 1 Platnimum MC.   So I assume I was bucketed.

I ran about $700 - $800 a QS.  When my 6th statement cut instead of the $200 CLI I was expecting I got a $3K CLI.  I then called and got a PC from QS1 to QS.  Between Feb 2018 and now I have run about $500 a month through it.   I recently asked for a CLI  of $6700.   Cap 1 came back with a $2K Cli.   Now I have to wait 6 months for the next one.   For a bucketed card I can't really complain that in a year I went from $300 to $5300. 

[joltdude]

Part of me thinks the triple pull is an intentional deterrent more than just the risk.. to keep people with the cards they have and not move up out of their bucket... or if their scores are high enough. go elsewhere...

[Brian_Earl_Spilner]

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@joltdude wrote:

Part of me thinks the triple pull is an intentional deterrent more than just the risk.. to keep people with the cards they have and not move up out of their bucket... or if their scores are high enough. go elsewhere...

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I dont think normal people know or care. Personally, I think they pull all 3 in case something is only reporting to one bureau like a judgement or lien.

[kilroy8]

I think maybe they scope out the competition on your credit reports. If you have plenty of cards with better rewards and benefits than theirs, they know you are not going to be using their cards. 

So they don't waste time with you.

[joltdude]

Time to bring the ABS thread back up again..

https://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Card-Asset-Backed-Securities-ABS-and-w...

[Anonymous]

I’m thinking Brian is right. With C1 marketing a lot to the subprime groups, they’re probably at a larger risk of customers defaulting. Pulling all three to be sure nothing terrifying slips by is prudent when you’re willing to issue unsecured cards to sub-600 score carriers.

[joltdude]

but it also has the dual effect of encouraging more prime accounts to stay put vs reappying and getting a more appropriate CL