My friend has a cap 1 card that apparently is one of these credit steps cards. The card started out as a secured card for $200 and they increased the limit to $500 without requiring additional deposit. The card is about nine months old now. Is there another step? Is there a way to get a CLI on this card? I never had one of these so not sure how they work.
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@Anonymous wrote:
I had a secured card with capital one where I recently closed. To be honest from my knowledge there are no credit steps for a secured card and further more they don't give credit line increase to consumers upon request it is done only automatically by luck after a min of 6 statements. Some people get $100 increase some $200. However $300 wow Capital one really seems to like your friend because no I did I get a increase and I never went over 4% of my limit.
However the capital one platinum credit card (unsecured) does have a credit step and the step is only a one time cli step. All you need to do is make 5 on time monthly payments.
From my reading on the subject it seems like cap one when you apply comes up with an amount you are prequalified for. They approve you for a fraction of that and if you do everything you are supposed to then after six statements they kick you up to the prequalified amount and then you are stuck with that limit going forward. My friend has a decent job and just did not have credit cards, so no baddies etc. It does not suprise me the amount she got and I am hoping she gets more on the freedom she is applying for but it is kinda early tell. After a year she should be in good shape though.
With Credit steps it is one CLI and that is it. You then have to wait six months to as for one yourself
