Capital One CLI Denial Reason ???

[MrsCHX]

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@Anonymous wrote:

I see people say to utilize more of the limit and make a one time payment. Do you mean use it then wait for statement and then PIF? Wouldn't that spike my utilization and cause my score to drop?

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I believe the advice is actually to spend, make a large payment (but not in full), let a small balance report (statement date) and then pay the rest of the balance before due date.

This way it's a win/win/win

Cap One is seeing high usage and high payments

Utilization when reported is low

By paying the remaining balance in full before the due date you will not pay any interest.

e.g., Your limit is $3,000 and you charge $2,500. Your statement will cut on the 10th. On say, the 6th, you pay $2,250; you're allowing the statement to cut with a balance of $250 or about 8% utilization. Pay the full $250 off before your due date.

[Anonymous]

This behavior above is definitely profile specific. I've done exactly this for many cycles and received no CLI, but I believe it's because my account is blacklisted from being barely approved from the start.

[Anonymous]

This is actually pretty much what I do.  I use it like it is my debit card, and then I pay it off every Saturday, so I typically carry a 2-300 dollar balance through my statement because my phone bill, car insurance, and gym membership all come out automatically right before my statement closes.

Just tried again because it's been a couple of months and got the exact same reason....again....I suppose someday I might apply again for a different card, but right now I don't want to take the score hit as we will be looking for a mortgage in the next 6 months or so.  Was just hoping to improve my amount of available credit/usage ratio before that happens.  ~~~

Looking at my score history on here I was in the low 700's for all three CB's when I was approved for the card...so I must just be locked in at the 5K...oh well.  It just REALLY annoys me that they can't "explain" their reason.

[Anonymous]

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@Anonymous wrote:

This is actually pretty much what I do.  I use it like it is my debit card, and then I pay it off every Saturday, so I typically carry a 2-300 dollar balance through my statement because my phone bill, car insurance, and gym membership all come out automatically right before my statement closes.

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I would advise against making weekly payments unless your credit limit (lack of) forces you to do so.

By making weekly payments every month, you are showing the creditor that you don't really "need" a greater credit limit.  Your high balance on the account also will never be that great and that's one of the factors that could help in receiving a CLI.  Creditors like to see a large spend and a large payment.  While multiple payments still results in the same spend in the end (and same payment total per cycle) it doesn't show that you're stretching your credit limit at all which could deter them from extending you more credit.  Just something to think about.

[Anonymous]

So I legitimately have NO idea what changed...did my typical thing...waited another three months since the last time I asked (as I have been doing for almost a year) and violia!  I don't know if maybe they updated their policy or what, but they just bumped my limit by $3,000.00, so I now have an $8,000.00 limit.  While it bugs a little me they only bumped it 3K (My Discover card has a 14K limit now), I am not going to look a gift horse in the mouth.

For those who might be curious... I have continued to use my quicksilver almost like my debit card, paying it off at the end of every week. My credit score is in the same realm now as it has been for the last year give or take about 10 points for balance fluctation.  As I said, I have NO clue what changed, just happy that it did.

[Anonymous]

if it makes you feel any better, i have emailed the eo email and the social email and havent received a response, this was two weeks and 3 emails ago...

[Anonymous]

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@Anonymous wrote:

So I legitimately have NO idea what changed...did my typical thing...waited another three months since the last time I asked (as I have been doing for almost a year) and violia!  I don't know if maybe they updated their policy or what, but they just bumped my limit by $3,000.00, so I now have an $8,000.00 limit.  While it bugs a little me they only bumped it 3K (My Discover card has a 14K limit now), I am not going to look a gift horse in the mouth.

For those who might be curious... I have continued to use my quicksilver almost like my debit card, paying it off at the end of every week. My credit score is in the same realm now as it has been for the last year give or take about 10 points for balance fluctation.  As I said, I have NO clue what changed, just happy that it did.

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Sometimes when it comes to credit-related topics, TIME is simply the answer.

[Anonymous]

Put all your spend on it for a month no higher than 90% of the CL (69% if you want to play it safe and not worry other lenders), let the full balance cut and report, then PIF, then wait until new statement cut with zero balance, then request CLI again.

You can also app for a new card and receive a nice large limit and then combine them.