Capital One - $100 CLI

[Anonymous]

I 'get' what you guys are TRYING to do...this is the problem with ppl over sharing 'how' they got offered a huge CLI after a few months etc

But some profiles are bouncing BACK from BK or other issues, some given 'weak' CLs for their profile to begin with by the auto approval system.

But too many builders and rebuilders have been SOLD this bill of goods...that SOMEHOW

Blasting thousands of dollars through a low limit card EQUALS qualifying for a larger CL?

In what world or financially rational way does that even make SENSE, folks?

Let's think this out
I vetted you and your credit profile and ability to pay and decided 3 statement periods ago that the MAX I'm comfortable with observing how you manage your finances with is $300-$500...

So then you go out and blast everything known to mankind through the account over the next 90-100 days...only 3 payment periods mind you

And THAT is supposed to prove WHAT?
That I should now TRUST that you can make payments or handle a large CL card? Based on what?

It could be argued that it seems as if you are to dependant on a little limit you have now.

Everyone thinks they are outsmarting the 'system' and sometimes humans are too smart for their own good.

I mean Really calling sweating executive offices because a lender has the audacity NOT to pour open the CLI happy faucet after 3 months of payment history...how dare they not triple the CL.. again based on WHAT?

Folks have been lead to 'fee' that running spend through a card has something to do with credit worthiness have been lead to a false understanding of how CREDIT RISK assessment works and it's a GD shame.

We've become like impatient children yelling ARE WE THERE YET?

No, sit your little down and the grown ups will inform you when to take off your seatbelt... don't make anybody come back there😂

Come on folks chill out....100 days doesn't MAKE you a better credit risk anymore than 3 weeks doesn't make a rookie an all-star or a hall of famer... keep working at it, stop pressing...you change TIME with blasting spend.

[Anonymous]

Wait it out. I started with paid Charge offs and $300 limit that went to 1800 in 6 months. Keep at it and you will be rewarded by CapOne. But as ppl have said, they can be a bit erratic on when they give out these big CLIs.

[Anonymous]

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@Anonymous wrote:
Let's think this out
I vetted you and your credit profile and ability to pay and decided 3 statement periods ago that the MAX I'm comfortable with observing how you manage your finances with is $300-$500...

So then you go out and blast everything known to mankind through the account over the next 90-100 days...only 3 payment periods mind you

And THAT is supposed to prove WHAT?
That I should now TRUST that you can make payments or handle a large CL card? Based on what?

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Yes, that is precisely what it proves.  It's a pretty simple concept - if he's "blasting" $5000 through a card with a $500 limit, he obviously has the income to support a $5000 line of credit.  Not that difficult to comprehend.

Additionally, let us remember that these are banks and banks exist to make money.  They like when you spend their money because, if you are responsible, they make money on that loan in at least one way and depending on the APR terms, possibly a second way.  So, if you have the ability to spend more and you've demonstrated responsibility in managing what they've given you, the risk decreases becauses of your demonstrated responsibility and the potential for profit increases because you have a higher spending limit.  Obviously, lower risk and larger profit is exactly what banks want.

Computer systems can quantify risk but they can't think like a human which is why manual review exists at all.