Established Member
colnagoflight
Posts: 22
Registered: ‎06-15-2012
Re: Capital One Increase
[ Edited ]

Howdy, my suggestion is to add the deposit money just to increase your line of credit.  this makes the utilization percentages easier to manage.  Then use the card but pay it off as soon as the "charges" post to the account.  Example:  08-07-2012 I charged $932 to the account.  on 08-10-2012 I paid $800 via mobile banking.  this way I keep a rolling utilization below 19%.  if you use your card a lot and pay it quickly -- even if you have a low balance -- they will increase your unsecured line of credit approximately two (2) times per year.  from my research, every 5-6 months they review an account.  so when my account had only a $200 line of credit, i paid it 6 times that month in full .... my last months spending was in excess of $3,000 but except for this month, i've kept it below 9% utilization.   

 

Anyway, just use it alot and pay it off minus a $50 balance ... so they have "something" to report to the credit bureau a minimum of one week before the statement date.