@core wrote:
@GMCTexas wrote:I see a lot of threads talk about Cap1 "bucketed" cards (weird word, where did that come from?)
Maybe it came from the Bozo the Clown show where the kid has to try to toss the ball into progressively farther buckets. Often times the dexterity-challenged kid never makes it past the first one, winning the absolute lamest prize (a stick of gum or maybe a Cap One card?). But poor Bozo has to act like he won something very valuable so the kid doesn't start crying on live TV.
Or it could come from the days before the water closet was invented. Which is where these cards belong.
Amen. Mine is SD'd. I'm over them.
12/22 : 
@GMCTexas wrote:I see a lot of threads talk about Cap1 "bucketed" cards (weird word, where did that come from?) Anyway, how would you ever know if it is? It seems like my entire credit profile with then is bucketed.
Cap1, along with other lenders like Discover, utilize asset backed securities. In a nutshell, accounts are packaged (bucketed) and those buckets are made available for investing. The card/account can't be simply rebucketed once someone improves their profile as it's already packaged with like accounts that people are investing in already. The only way out is if they repackage the bucket and the account is put in a different bucket of like accounts. The other option is to close the card and open a new one based on their current profile.
@GMCTexas wrote:
@Brian_Earl_Spilner wrote:
@GMCTexas wrote:I see a lot of threads talk about Cap1 "bucketed" cards (weird word, where did that come from?) Anyway, how would you ever know if it is? It seems like my entire credit profile with then is bucketed.
Cap1, along with other lenders like Discover, utilize asset backed securities. In a nutshell, accounts are packaged (bucketed) and those buckets are made available for investing. The card/account can't be simply rebucketed once someone improves their profile as it's already packaged with like accounts that people are investing in already. The only way out is if they repackage the bucket and the account is put in a different bucket of like accounts. The other option is to close the card and open a new one based on their current profile.
So do I understand correctly.....you are saying when someone apps for a Cap 1 or Disco card, if their profile isn't so attractive they may be approved but for a lower tier card that has little to no CLI upside after it's approved? Even if they improve their credit profile dramatically? If so, ok, that I can at least understand somewhat.
Now that being said, I got my first Discover card 5+ years ago, would have been in the same time frame I got my Cap1 QS1. My SL on the Disco was $11k, and has since auto CLI to $18k. The QS1 was $1500, never gotten a CLI. So if my profile was good enough with Disco to give me $11k what gives with Cap1?
Same deal as of 2 weeks ago. Approved for Chase Southwest 15k, Citi Diamond Preferred 15k, Cap1 Savor 300. I just don't understand why my credit profile to Cap1 isn't attractive. I frankly shouldn't give a rip and just close the cards out of principle, but it irks me not knowing why. And then even more so seeing people fresh off a BK or even still in a BK getting $2-3k SLs. I can't let it go, man 😂
We don't know the intervals for repackaging. Discover may have shorter durations. As for the high limits out of bk, cap1 is litigious. They know you can't discharge that debt if you default.
@core wrote:
@Brian_Earl_Spilner wrote:Cap1, along with other lenders like Discover, utilize asset backed securities. In a nutshell, accounts are packaged (bucketed) and those buckets are made available for investing. The card/account can't be simply rebucketed once someone improves their profile as it's already packaged with like accounts that people are investing in already.
Interesting. Reminds me of CDOs. I can understand why they can't change someone to a more favorable interest rate, as the risk has already been purchased. But why can't they give limit increases for cards in the lowest buckets when the customer's score improves? Whereas they (obviously) can with the higher score buckets? I'm having trouble wrapping my head around that.
More than likely computer driven risk management.
My first and currently only card is a cap one platinum secured. Started with a 200 limit in September of 2021 around January or February they auto bumped it to 500. I'm hoping at my 1 year mark in a couple months it becomes unsecured and I can pc to quicksilver. I plan on getting different cards in the very near future either way but it'd be nice if it became unsecured and could pc with a cli
@D10001 wrote:As a first card, with fair scores (621), I got a Capital One Platinum card in March of 2019 with a $2,000.
It's now a Quicksilver with an increase to $5,000 after six months of heavy spending and paying in full. It increased to $5,500 13 months ago.
Capital One just increased it to $6,100 a moment ago. Card begins 5178. Pretty sure this is a bucketed card. For two years now, Capital One has solicited me for a Savor One. Not a bad card, but it doesn't add anything to my portfolio.
I guess by definition all of their cards are in some sort of bucket. But when I think of a bucketed card, I'm thinking of the ones that start low and don't grow because it was obtained with a low score. A $6100 is not one of those in my opinion.
NFCU GoRewards Sig ($40,000), NFCU Cash Rewards ($40,000), PenFed Power Cash ($25,000), FNBO Evergreen Visa ($20,000), Bread Financial Rewards Amex ($21,150), PNC Cash Rewards ($18,400), PNC Cashbuilder ($18,700) , One Key Mastercard ($14,000), Citi Double Cash ($11,600), Discover It Cash ($9000), Capital One Quicksilver MC ($9000), Bank of America Unlimited Cash Rewards ($7500), Fifth Third Unlimited Cash Back Mastercard ($7500), Wells Fargo Active Cash Sig($7000), Apple Card ($6000), Amex BCE($6000), Amex ED($6600), X1 Card ($5000), PNC Points ($8000), Amex Cash Magnet($2000), Fifth Third Truly Simple ($4000), Truist Spectrum Cash Rewards($4500), Truist Bright Card($4500), CapOne Quicksilver(Bucketed @$1500 manually lowered to $500), US Bank Cash+ ($5,000), US Bank Cash+ ($1,000), WF mortgage 195K Fico 8: EQ 778, TU 765, EX 758 FICO 9:EQ 829, TU 812, EX 791, AAoA-97 months, AoOA-28 years