topic Re: VentureOne $1K CLI in Credit Card Approvals

VentureOne $1K CLI

Anonymous — Sat, 30 Jan 2016 15:02:00 GMT

I just got a $1k CLI from CapOne. From $4750 to $5750.

I'm wondering if having a CL over $5K has a postive impact on my credit file? I have a couple other cards with $10K limits but have not seen any significant changes on my FICO8 score.

FWIW: I was turned down several times when I previously requested a CLI. Last CLI decline was Jan 10, 2016.

Sated reason was that there was a recent change in my account.

I took that to mean that I had combined two CapOne cards in August 2015.

I also made one additional change when I requested a CLI. When they asked me how much I spend on CC's each month I entered $2500 (I had previously left that field blank on entered only $1,000).

I'm not completely sure if the monthly spending amount I entered had any influence in CapOne's decision but that's the only item I changed when I got my CLI approved.

Cheers!

Re: VentureOne $1K CLI

alvon123 — Sat, 30 Jan 2016 15:04:42 GMT

congrats on the cli

Re: VentureOne $1K CLI

Anonymous — Sat, 30 Jan 2016 15:25:07 GMT

Congrats on the CLI!

Other than helping your credit utilization a little, that extra $1000 probably isn't going to help your score. However, if someone does a manual review of your report (if you apply for a mortgage, for instance), having larger limits would likely have a positive impact. It could be that $5000 is a threshold, but that probably depends on the bank and maybe even the individual loan officer. Certainly it's better (for a manual review) to have five cards (as you do) with a few $5000+ and $10,000+ limits than it would be to have 30 cards with mostly small limits.

Re: VentureOne $1K CLI

Loques — Sat, 30 Jan 2016 16:04:10 GMT

Congrats!

Re: VentureOne $1K CLI

crrredit — Sat, 30 Jan 2016 16:25:15 GMT

In their description of what constitutes an excellent score rating, Cap One mentions having a credit card with a limit of $5K or more, for a period of three years or more. So at least in that instance it's a step up.

Re: VentureOne $1K CLI

Anonymous — Sat, 30 Jan 2016 17:48:15 GMT

Congrats!

Re: VentureOne $1K CLI

Anonymous — Sat, 30 Jan 2016 18:41:16 GMT

Good job!! Enjoy it.

Re: VentureOne $1K CLI

alextercero — Sat, 30 Jan 2016 20:32:30 GMT

Congrats

Re: VentureOne $1K CLI

Anonymous — Sat, 30 Jan 2016 21:01:49 GMT

Nice, congrats on the CLI

Re: VentureOne $1K CLI

Anonymous — Sun, 31 Jan 2016 01:52:37 GMT

thanks everyone!

Re: VentureOne $1K CLI

OmarGB9 — Sun, 31 Jan 2016 18:14:19 GMT

Grats and I always say that what you enter in that box is irrelevant (IMO).

Re: VentureOne $1K CLI

Anonymous — Mon, 01 Feb 2016 07:27:43 GMT

Congrats on your CLI!

Re: VentureOne $1K CLI

pizza1 — Mon, 01 Feb 2016 18:24:36 GMT

congrats

Re: VentureOne $1K CLI

Anonymous — Tue, 02 Feb 2016 02:20:32 GMT

@OmarGB9 wrote:
Grats and I always say that what you enter in that box is irrelevant (IMO).

yes, I'm not completely convinced that what I entered in that box was a decisive factor in my CLI request but as I mentioned in my original post, that box was the only thing I changed