Cap 1 CLI Frequency?

[masscredit]

I met my first major goal last month. That was getting one of my cards to a $10k credit line. In that case it was my Barclay Rewards card. Next up is my Capital One Venture. The last time it received an increase was December 3rd so it's been close to 6 months. Current limit is $6k. I'll try the Luv Button first and then go from there. Thinking about trying to increase the limit of my QuickSilver card at the same time. The last increase for that card was February 11th.  So I have 6 months for the Venture and 3 months for the QS. I usually wait 6 months before I request an increase but have read that some people have had success after 2-3 months. Next goal is getting each of those cards to $10k.

How often have you recevied a CLI from Cap 1 and was it by using the Luv Button or through chat, e-mail or calling?

[Anonymous]

Every 6 months but sometimes sooner IF you contact the EO 

[Anonymous]

i got a cli in about 3 months.. will try in 3 months again!

[Anonymous]

Avg. 6mos.

[masscredit]

I think the plan will be to use the Luv Button to request an increase on my Venture card after the current statement closes on the 6th. I'll call the EO if it's denied for some reason.  I'll also try the Luv Button for the QS but won't call on that if it doesn't go through. I'll then wait until the 6 month mark in August then try again. 

[stagefoursurvivor]

Cap1 can be very odd with CLIs if you research closely here.

I had my QS SL gor from $5K to $8K at about 10 weeks AND my V1 from $7.5K to $12.5K, same interval. I closed my Platinum(no rewards) MC and 8 weeks later was approved for another QS Sig SL $5K.

My Venture will hit 60 days 5/20 and if I get a decent CLI from SL of $15K  I'll close my QS1.

I started with Cap1 11/14 with total CLs of $5K, now $44K, my total usage over those 6 months is roughly $15K. Met all the various promo spend requirements and have left $3-4K balance on the 0% promo cards. All the CLIs have been requested and only contacted the EO once, when a denial was apparently based on an outdated CR. 

[masscredit]

You mention something that I didn't think about. They might view a credit report that is a few months old. Not that there is negative info on it. Current reports have more positive info. And one of the things that I was hoping would be my "ticket to ride" is another account reporting a $10k plus credit line. That will be reporting next week. Okay... now I have to think. Do I go for it in a few weeks or wait a few months so the decision will most likely be based on the credit limits that I have now (if that even matters)?

The Venture card going from $6K to $10K would be a significant jump. But as you point out. your card went from $7.5K to $12.5K. Did you have any other cards with a limit like that or higher when you received the increase? 

[stagefoursurvivor]

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@masscredit wrote:

You mention something that I didn't think about. They might view a credit report that is a few months old. Not that there is negative info on it. Current reports have more positive info. And one of the things that I was hoping would be my "ticket to ride" is another account reporting a $10k plus credit line. That will be reporting next week. Okay... now I have to think. Do I go for it in a few weeks or wait a few months so the decision will most likely be based on the credit limits that I have now (if that even matters)?

The Venture card going from $6K to $10K would be a significant jump. But as you point out. your card went from $7.5K to $12.5K. Did you have any other cards with a limit like that or higher when you received the increase? 

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When I was approved for the $15K Venture I had the Lowe's store card at $12K, my highest limit was the V1 at $7.5K however, when I hit the button for the V1 at 10 weeks, I had another Visa at $15K, PLOC $10K.

Now, here's a very valuable point, a couple here have hit the Venture button prematurely(?) and been offered $750 CLIs, they declined and tried again a month later and received >$3K.

It appears that if you're dissatisified with the proferred CLI, decline and try again.

[Anonymous]

I think it's wise to let the high limits report before apping. It just makes the report more marketable IMO.

[stagefoursurvivor]

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@Anonymous wrote:

I think it's wise to let the high limits report before apping. It just makes the report more marketable IMO.

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Although I'm inclined to agree with this point, the flipside is they might consider that "you have sufficient revolving credit".