topic Re: Should I just take the small CLI from CapOne? in Credit Card Applications

Should I just take the small CLI from CapOne?

Anonymous — Thu, 30 Nov 2017 17:44:48 GMT

My CapOne Journey was my first credit card (06/16) opened at $300. Here is my history:

06/16 Opened Journey - $300

11/17 PC to no AF QS & CLI to $750

05/17 CLI to $1,250

After waiting another 6 months, when I press the CLI button, CapOne only wants to give me $100 CLI. This is ridiculous being that I have an AMEX card with a $9k limit! I've waited about 2 weeks since I got the $100 CLI offer from CapOne, which I declined, and checking the CLI again, they haven't budged. Should I just suck it up and accept the CLI or try again in a month?

My goal is to open a Freedom or CSP in the next 1-6 months so I don't want to open another CapOne card in order to combine limits.

EX - 731, TU - 742

Income ~$45k

Util = 1%, AAoA = 1yr

What should I do? Or should I just not care about the CLI, and just go forward with a Freedom/CSP (no in-branch nor online pre-quals).

Re: Should I just take the small CLI from CapOne?

HeavenOhio — Thu, 30 Nov 2017 17:48:32 GMT

Don't accept $100. Given the six-month wait, the difference between $1,250 and $1,350 isn't enough to make the CLI worthwhile.

Are you using the card and paying in full? Those appear to be the two keys. If you're not doing that, try it. Hopefully, in a couple of months, you'll get a more generous offer.

Re: Should I just take the small CLI from CapOne?

Anonymous — Thu, 30 Nov 2017 17:58:13 GMT

With the 1.5% CB, this is my daily-driver. I put anywhere over 30% of my limit on the card each month, with some months almost maxing out. But I always pay the balance down to $0 a few days before the statement hits to maximize AZEO ($3 balance on my Discover, $0 on everything else).

Re: Should I just take the small CLI from CapOne?

Hotcoals91 — Thu, 30 Nov 2017 21:50:30 GMT

Idk about how you want to strategize this but i just take whatever they offer every 6 months. My quicksilver is my oldest card and turns 2 tomorrow (december 1st). I figure it resets the clock so i can get another in 6 months time and im not really worried about having megalimits.

Re: Should I just take the small CLI from CapOne?

Anonymous — Thu, 30 Nov 2017 22:12:10 GMT

There were YEARS I would hit the CLI request and get denied. Your options would be: 1. Plead your case to the EO, though I don't know if they really entertain that any more, 2. Decline and increase your spend for a few months then re-request, or 3. Accept, increase your spend for the next 6 months and then request again.

Re: Should I just take the small CLI from CapOne?

joltdude — Fri, 01 Dec 2017 01:17:02 GMT

Id play hard to get with Cap One....

This is one of the few cards where saying No can pay off...

-J

Re: Should I just take the small CLI from CapOne?

Adkins — Fri, 01 Dec 2017 03:53:34 GMT

You could be stuck in the lower limit tier even though your scores are excellent now. After you get your CSP it CSR, I think you're going to have to open another capital one card and combine the limits to get a higher CL.

Re: Should I just take the small CLI from CapOne?

marty56 — Fri, 01 Dec 2017 10:50:30 GMT

@Adkins wrote:
You could be stuck in the lower limit tier even though your scores are excellent now. After you get your CSP it CSR, I think you're going to have to open another capital one card and combine the limits to get a higher CL.

Rather then combine cards, I would look elsewhere since you most likely will get the INQ and new account ding anyway. So many better choices out there. First on my list would be a local CU or establishing a relationship with Synchrony if you don't have one yet. Sams MC come with generous CLs and auto CLIs.

Re: Should I just take the small CLI from CapOne?

Anonymous — Fri, 01 Dec 2017 20:38:57 GMT

Thanks for the input everyone. My next cards for the next few years could be: CSP/CSR, Freedom, IHG... so I do not want to open any new capital one cards. I believe they are a decent starter/rebuilder company and nothing else. My option is either to not take the $100 CLI for a couple months and see what happens, or take the $100 and try again in May.