Guesstimate my credit steps CLI?

[Anonymous]

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@jbishop1001 wrote:

What about having a 0 balance hurt my fico??

My cap 1 accounts are only about 4/5 months old. Will no utilization on these cards hurt me? I will only have 1 account with a balance by the end of the month (30% of the acct limit & 20% of overall)

@ all other 3 accounts @ 0. wont know score until after the 16th. 

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Don't take this the wrong way, but I wouldn't worry about showing a 0 balance after maxing and paying in full when trying to get an Auto-CLI.

Worry about Utilization and FICO Optimizing when you get said CLI's.

[jbishop1001]

Well, i'm also trying to raise my scores by paying all my maxed out cards. so, I am concerned that the age of my accounts wont wont workin my favor.

[SunriseEarth]

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@jbishop1001 wrote:

What about having a 0 balance hurt my fico??

My cap 1 accounts are only about 4/5 months old. Will no utilization on these cards hurt me? I will only have 1 account with a balance by the end of the month (30% of the acct limit & 20% of overall)

@ all other 3 accounts @ 0. wont know score until after the 16th. 

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That would actually be a lot closer to optimal UTIL than you are now.   If you can get that one CC with the balance below 10%, it'd be even better.  

Anyway, Cap One will give you the CLI so long as you've made three timely payments in 6 months, so I see no point in running up needless charges on the accounts.   

[Pway]

Capital One is a hard lender to tell how much credit they will give in the credit steps program. I have read through the forums of how people have put thousands through their cards and received low cli.  It's a tough cookie with Capital One.  Me personally I use my cards and pay them, I don't need all that credit. 

[Anonymous]

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@jbishop1001 wrote:

@I opened 2 capital one cards, both arein credit steps. each @ $300. I've had these maxed for basically the whole time (since october), but just paid them off. When my 6th statement cuts, what should I expect? I just hope it's more than the $200 promised. 

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I have no concrete evidence of this,but,looking at your scores and the cards you have....unless you have some serious income going on, in my opinion, they'll hit you with the "standard" couple hundred dollar increase?  The question about credit scores, income and credit limit is a real one in my opinion and I don't see them giving you a $500 increase right off.  Maybe on the second go round they'll increase it more, but for now, if I were you settle in your mind that they'll give you a baby increase. 

[jbishop1001]

well, by the time they review my accounts, I will have paid off 3 maxed out accounts so I expect my scores to get better before then. Hope it's good enough.

[Anonymous]

Any updates?

[jbishop1001]

Had a 16% overall utilization when they gave me my $200 increase on my platinum card.

Waiting until April for my quicksilver card. I only ran about $500 through the platinum, and now about $900 through the quicksilver. Hopefully that helps my chances.

[Anonymous]

I got a 3000 increase. My email stated that because of my habits I got a bigger increase. And my habits were making multiple payments. Highest utilization reported was 40% during the 5 month period. I always paid in full. Used the card consistently.

[Anonymous]

Jbishop

Hope the info below helps.  I got my QS1 card just over 1 year ago and starting limit was 500 dollars.  I have a spreadsheet with what I did.  Essentially it was carry balance every month, make high payments and high purchases, often time purchase over the limit.  The result was on the 6th statement I got a cli to 3500 dollars and just this month got a second to 5500 after my second 6 months. The second 6 months of activity look drastically different than the first as i've been optimizing my scores for a mortgage so for the last 3-4 months almost all cards although they have been paid prior to statement closing with exception of 1 card and i've made it a point to make that 1 card a different card every month to show all my lenders love and position myself for cli.  Edit the card I believe at around 6 months was PC to VentureOne Card 

Limit	500
	Statement Balance	Payments	New Charges
Statement 1	478	39
Statement 2	123	770	414
Statement 3	314	647	838
Statement 4	124	430	240
Statement 5	77	384	337
Statement 6	320	75	316
Limit	3500

@jbishop1001 wrote:

@I opened 2 capital one cards, both arein credit steps. each @ $300. I've had these maxed for basically the whole time (since october), but just paid them off. When my 6th statement cuts, what should I expect? I just hope it's more than the $200 promised. 

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