topic Re: Unusual Capital One Quicksilver CLI in Credit Card Approvals

Unusual Capital One Quicksilver CLI

Aim_High — Sun, 30 Jan 2022 01:53:07 GMT

I was just approved for a $1K CLI on my Capital One Quicksilver card, taking it from $25K to $26K! What is unusual is that my observations have been that Capital One has normally required moderate spending of the current limit to approve an increase, and this card hasn't seen the same level of spending that was needed for previous increases. I find this an interesting data point.

My Quicksilver card was opened in 2009 with a low $1K limit as a Platinum card. I had planned to use it from balance transfers but sock drawered it since the low limit wasn't useful. After the Quicksilver was introduced in 2013, I product-changed it and decided to try to grow it. It took a lot of effort with moderate spending and regular (soft-pull) CLI requests, but I finally grew it to $25K as of 03/13/2020. (See link with data points.) With the spending estimates I had calculated to get an increase, I decided that was enough, especially since my goal at one point was just to get all my limits up to at least $25K. I had better rewards cards and didn't want to work that hard to get another CLI with Capital One.

More out of curiosity, I hit the CLI button today. I've done that periodically just for grins the past year with denials. Today, they approved me for the $1K increase even though my activity on the card has been light at best. (Total spend for the past 12 months is about $676. No new activity was reported for 5/12 months. New charges ranged from just $76 to $133.) From my past experience, charging about 45% of the current credit limit seems to be the minimum for a successful increase.

I will note that I opened a "360 Performance Savings" (Online Money Market) with them and parked some significant deposits there. Since then, they've been treating me "extra-special" with lots of solicitations for opening a regular checking account, product changing my Quicksilver to Venture, BT offers, and several other things. I've had some cards with other lenders stay intact with little-to-no activity where I have active deposit accounts. While I didn't open the savings account for that reason, it does make me wonder how much other banking plays into decisions with them on CLIs, or even avoiding their CLDs they are known for sometimes.

The past 90 days have been quite successful for soft-pull CLIs! I started out the $15K approval for the AMEX Marriott card in November. With +$30K on AMEX Marriott; +$10K on Apple; +$8K on NFCU Platinum; +$1.5K on Citi-Costco; +$1K on Discover; +$1K on Capital One, that makes $66.5K in new credit with no hard pulls! Sweet! Thanks for the help along the journey, my friends.

Re: Unusual Capital One Quicksilver CLI

CreditAggie — Sat, 29 Jan 2022 22:36:28 GMT

Congratulations on your Capital One Quicksilver CLI!

Re: Unusual Capital One Quicksilver CLI

cashorcharge — Sat, 29 Jan 2022 23:01:13 GMT

Surprise Surprise @Aim_High that's terrific!!

Like you, I tend to hit that button a lot with low expectations. Nice to see the growth here and your recent succcess

Congratulations on your Cap1 Approval!! 🎉🥂👏

Re: Unusual Capital One Quicksilver CLI

gdale6 — Sat, 29 Jan 2022 23:00:47 GMT

Grats on your Quicksilver move up

Re: Unusual Capital One Quicksilver CLI

CreditMagic7 — Sat, 29 Jan 2022 23:25:45 GMT

Congratulations on the Capital One Quicksilver CLI!

Re: Unusual Capital One Quicksilver CLI

user979797 — Sun, 30 Jan 2022 01:17:36 GMT

CONGRATS on such an incredible year for increases! Amazing Job!

Re: Unusual Capital One Quicksilver CLI

mgood — Sun, 30 Jan 2022 02:19:43 GMT

Congrats on this somewhat unusual CLI and on all your other recent successes!

Re: Unusual Capital One Quicksilver CLI

DotaK — Sun, 30 Jan 2022 11:39:54 GMT

You are pretty good at writting an essay! )

Re: Unusual Capital One Quicksilver CLI

BearsCubsOtters — Sun, 30 Jan 2022 15:54:48 GMT

Thanks for posting this, #1 Credit Dad!

I tried as well and was approved for $500....I took it.

Mine is a 20+ year old Quicksilver world elite mastercard. Until 2017 the limit was $15,000. They CLD to $10,000 and again in 2020 they CLD to $5,000. These were the infamous Capital One haircuts and not related to adverse action. They refused any CLI since then until now.

Recently put $1900 on the account (12/2021) and accidently let it report. That may have helped, not sure.

Re: Unusual Capital One Quicksilver CLI

manbuckets — Sun, 30 Jan 2022 15:55:20 GMT

Congrats on your Cap One CLI!

Re: Unusual Capital One Quicksilver CLI

M_Smart007 — Sun, 30 Jan 2022 16:49:15 GMT

TLDR

Congrats on your MONSTER Cap1 CLI🤑

Re: Unusual Capital One Quicksilver CLI

Aim_High — Sun, 30 Jan 2022 20:12:35 GMT

@CreditAggie wrote:
Congratulations on your Capital One Quicksilver CLI!
= = = = = = = = = = = = = = = =
@cashorcharge wrote:
Surprise Surprise @Aim_High that's terrific!!
Like you, I tend to hit that button a lot with low expectations.
Nice to see the growth here and your recent succcess
Congratulations on your Cap1 Approval!! 🎉🥂👏
= = = = = = = = = = = = = = = =
@gdale6 wrote:
Grats on your Quicksilver move up

Thanks @CreditAggie, @cashorcharge, @gdale6!

The surprise ones can be the best.

Re: Unusual Capital One Quicksilver CLI

Aim_High — Sun, 30 Jan 2022 20:14:37 GMT

@CreditMagic7 wrote:
Congratulations on the Capital One Quicksilver CLI!
= = = = = = = = = = = = = = =
@user979797 wrote:
CONGRATS on such an incredible year for increases! Amazing Job!
= = = = = = = = = = = = = = =
@mgood wrote:
Congrats on this somewhat unusual CLI and on all your other recent successes!

Thanks @CreditMagic7, @user979797, @mgood!

Re: Unusual Capital One Quicksilver CLI

Aim_High — Sun, 30 Jan 2022 20:17:11 GMT

@DotaK wrote:
You are pretty good at writting an essay! )

I'm known for my longer postings, @DotaK, so that was more of a postie-note. LOL

I'll take that as a compliment. I think details sometimes make the post.

Re: Unusual Capital One Quicksilver CLI

Aim_High — Sun, 30 Jan 2022 20:21:05 GMT

@BearsCubsOtters wrote:
Thanks for posting this, #1 Credit Dad!

I tried as well and was approved for $500....I took it.

Mine is a 20+ year old Quicksilver world elite mastercard. Until 2017 the limit was $15,000. They CLD to $10,000 and again in 2020 they CLD to $5,000. These were the infamous Capital One haircuts and not related to adverse action. They refused any CLI since then until now.

Recently put $1900 on the account (12/2021) and accidently let it report. That may have helped, not sure.

"Credit Dad" has a nice ring, @BearsCubsOtters. Congrats on the extra $500. It sounds like neither of us were expecting anything so extra is always nice! Yes, that $1900 probably helped. I'm just surprised at anything with my low spend. Maybe they are changing a little bit, I hope? I don't plan to put moderate or heavy spend on this card, so I'm hoping they won't close it. If they do, so be it. I've more than replaced the credit limit and the rewards and features with several other cards.

Re: Unusual Capital One Quicksilver CLI

Aim_High — Sun, 30 Jan 2022 20:24:41 GMT

@manbuckets wrote:
Congrats on your Cap One CLI!
= = = = = = = = = = = = = = = = = =
@M_Smart007 wrote:
TLDR
Congrats on your MONSTER Cap1 CLI🤑

Thanks so much @manbuckets and @M_Smart007!

What do you mean, TLDR @M_Smart007 ?

That may be one of my shorter approval postings with supporting data points! LOL

Anyway, I thought the "unusual" deserved an explanation and some musings.

Re: Unusual Capital One Quicksilver CLI

greatscott85 — Tue, 01 Feb 2022 19:12:32 GMT

Congratulations! That's great they haven't "bucketed" you, with such little usage. Not that I would think they would, given the age.

Re: Unusual Capital One Quicksilver CLI

Aim_High — Tue, 01 Feb 2022 21:07:42 GMT

@greatscott85 wrote:
Congratulations! That's great they haven't "bucketed" you, with such little usage. Not that I would think they would, given the age.

Thanks @greatscott85.

Actually, the "bucketed" cards refer to those very low limits (often +/- $1K) they issue to sub-prime profiles that never grow, regardless of usage. What I could be more subject to is the popular "CLD" where they slash limits of prime cards that aren't used. I've braced for that possibility but the card has some history of heavier usage. It was a daily driver for a few years after Quicksilver was an early pioneer of 1.5% cash back starting in 2013. From my experience, prior moderate-to-heavy usage (may) help insulate an account from a CL or closure, but that's just one theory of mine and could be profile-specific. I've posted before about accounts with large limits not being closed after no usage at all over years, but they were with lenders where I had active deposit accounts. This is why I mentioned the recent online money market account I opened with them, since it could be a relative data point in either the CLI or the account being allowed to stay open with the current CL despite lower usage. I find it very interesting how some of our members get such different outcomes from lenders like Capital One. From my perspective, even though they are a little tight with the purse strings, they are a great national lender and don't deserve the disparaging comments I sometimes see posted about them. But we all have to decide which lenders are right for us.

If they did a major CLD, I might just throw in the towel and close the card since I've added other cards with higher limits and better rewards. The handwriting would be on the wall for them to close it anyway and the value to me would be diminished.