@john398 wrote:
This seems like an old thread but has anyone has success with the capital 1 automated operator for a cli?
I don't think there is any way to get them to approve a CLI unless you are a prime account holder. Many forums seem to indicate this. If you started with one of their subprime cards, get rid of it as soon as you next annual fee occurs. They are great for building and great for prime cardholders, but that is about it. You can get multiple accounts with them. I have 2 (and now a Household one that will be converted.) and after 2 years with them no increase from the initial increase. (Capone gives all card users in their program a CLI after 3-6 payments, this depends on what terms they have when you open it.) After that it appears that they don't give increases. You will hear stories about getting an increase, but those tend to be rare.
I warned them that if they did not give an increase and make the account into a rewards card that I would close it. I gave them 9 months notice, to insure that if my account was ever selected for review then they would know it. (They say that they will read the notes if the account is selected for review.) I asked about a CLI before closing it and asked for it to be converted into a rewards card. They said no, I said close it. They did. They did not offer a CLI upon threat or upon closing. (I guess some have been offered upon closing. Additionally, some also seem to get letters or emails asking them to reopen the card under better terms. As of yet I have not.)
It is rumored that if you open another account with another company with a higher limit they will then raise your limit and start to treat you better. I just saw the new account posted on my Bureau today, so we will see if that happens or not, remember I do have another card with them. When they notice it, maybe the remaining account will then get the credit limit increase. I closed the first account for more than one reason. I close it to see if they offer me a better deal, as of yet no. I also closed it in case they raise my limit when they notice the new account, which is 5 times their credit limit, would be the one most likely to get a limit increase. The other account has rewards. If they decided to raise either limit I would rather they have to raise the one with rewards.
Let me tell you the effects on the credit score. It dropped 7 points from the closing of the old Capone account. This reflects some points for the change in utilization and from the closing. (It will still report to the bureau as a good account and that is good, just not as good.) The new account increased my credit score 20 points. I don't think more than a point or two of this had to do with utilization, as that remained pretty much the same. Part of your score is about credit limits, since this higher limit is now on the bureau it reports a positive impact to the score.
Basically, in the short term it will allow me to get higher limits with other companies as my score increases. I will use the account to buy a few large ticket items that I have the cash to pay for and then pay it after it reports to the bureau. This will show to lenders that I can charge it up and pay it off and is a bit useful in obtaining higher limit cards. They will show the high usage and some lenders do use that and credit limits to help determine what limits to give.
Remember, you can always ask Capone if there are any offers on your account. They had an offer to lower my interest rate for 6 months. I took the offer only for one reason; so they know I will take offers for my account. Maybe, they will at some point make more offers!?! (I hope, but don't hold my breath.)
They don't seem to up limits for certain categories of cards.
It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.
but after I close on my house, I will hopefully be able to get a CC with a bigger CL. I'll SD Cap One and use it randomly just because, like I said earlier, I appreciate them giving me a card when no one else would and helping me to rebuild. Plus, it will help my AAoA in the long run to keep it