Our rebuilding journey with Capital One

[nalmamory]

My wife and I have been rebuilding our credit for the past couple of years, currently I have only have 1 small loan that I've been paying off religiously every month.  I started out with only 1 card, a regular Capital One rebuilding card that I got 2 years ago.  I started out with a $300 limit and 5 or 6 months it was increased to $500.  About a month ago, I received a pre-approved offer for a Capital One Journey card.  I decided to go ahead and apply and I was approved with a $500 limit.  When I signed in to my CapOne account, I received an offer to increase my credit limit on my original CapOne card, and I accepted.  After entering in my annual income and rent amount, my measly $500 was increased to $2000!  And I have the $500 on the Journey card which I was told will be increased after my first 5 on-time payments.  I was completely shocked by this CLI as I have always heard that CapOne doesn't like giving them out. 

Afterwards my wife (who has the same rebuilder card) got online and decided to use the CLI button and her $500 limit was increased to $600.  Not much, but she has more debt than I do as we decided to take turns paying off our debt.  Then today she heard about the CapOne Quicksilver card and she got on and talked with a chat rep and asked to have her card changed to a Quicksilver card and they said she was eligible to PC to a CapOne QuicksilverOne card with 1.5% cash back. 

Just wanted to share our small victories with other rebuilders.  I feel like I'm slowly climbing up in the ranks and am pleased with getting toward credit worthiness and working toward our goal of being able to obtain a mortgage and have REAL credit.

[NibblesTreats]

That's great!!  Congrats.  I've got two Cap. 1 cards and I'm going to see about going up to a Quicksilver card as well soon.  I've not been lucky enough to get a big increase either ($500) at the most, so I'm hoping next time I try (in a couple of months), they will be more open to a higher increase.  I've never been late with them and I've always paid more than the minimum.  I do have to get my util down on them, but that will come prior to asking for an increase.

Good luck with rebuilding and thanks for sharing!

[newmomnewme]

Ok, so I got the Cap1 Platinum- Steps Program($750) 12/12 and Cap1 Journey 9/13 (1k).....The Platinum got auto increase 9/13...then when I checked my messages it said I missed one of my credit steps. So, I requested another CLI and I was denied. What does "missed one of my steps" mean? I have never missed a payment..

[themizlyne]

Call and see what they mean.

[lonelyisland]

Not sure if you found out what happened with Steps Card, but the requirements are in a document in your account online.  You can check that, and see if there is anything in there to help.