topic Re: Capital One - CLI questions in Credit Card Applications

Capital One - CLI questions

diane11 — Sun, 20 Jan 2019 17:28:52 GMT

In November, I applied for my first CC - I was approved for a Cap One platinum with a $3k CL (I'm also an AU on two cards with LONG credit histories - 10+ yrs). After five timely payments, Cap One will increase to $3,500. At the time I applied, my FICOS were in the 650 range. All three are now over 700. I would like to get a CLI now. Two questions: #1 Will they do a hard pull? I called customer service and the woman did not know. After several minutes on hold, she told me it's a soft pull. But I'm not sure I trust that. #2 What is my likelihood of a CLI after only three months? I pay in full monthly and my score is up 50+ points with all three bureaus. Thank you!

Re: Capital One - CLI questions

Anonymous — Sun, 20 Jan 2019 17:36:17 GMT

6 months for a CLI and it’s a soft pull.

Re: Capital One - CLI questions

JaseT — Sun, 20 Jan 2019 17:38:06 GMT

No hard pull for Cap One CLI. I received a CLI after clicking the luv button around the 3 month mark prior to my credit steps auto increase. That card started at $3.0k and is now at $8.8k not even two years later.

Re: Capital One - CLI questions

simplynoir — Sun, 20 Jan 2019 17:39:18 GMT

I believe at the three month mark is when you can first request a CLI actually. The thing with CapOne is along with the usual criteria (scores and income) they're also big on payments and use of the card. If you've been using it as a daily driver and been making full payments or at least several times larger than the minimums I'd say your odds of getting one are pretty good. They will make an offer if eligible and if you don't want it you can decline and re-request at a later time.

Re: Capital One - CLI questions

Anonymous — Sun, 20 Jan 2019 17:40:42 GMT

My bad, looks like you can request 3 months after opening but it’s 6 months between them. 👍

Re: Capital One - CLI questions

diane11 — Sun, 20 Jan 2019 17:49:45 GMT

Looks like I was approved on November 2. Does that mean I can apply for a CLI on February 2 or do I need to wait for three timely payments?

Re: Capital One - CLI questions

Anonymous — Sun, 20 Jan 2019 17:54:35 GMT

@diane11 wrote:
Looks like I was approved on November 2. Does that mean I can apply for a CLI on February 2 or do I need to wait for three timely payments?

Honestly you can ask any time. Worst that happens is they say no.

I would wait until 91 days/3 statements like NFCU if it was me but if the system has determined you’re eligible, you’ll get it. If not, you won’t.

Re: Capital One - CLI questions

simplynoir — Sun, 20 Jan 2019 17:55:57 GMT

@diane11 wrote:
Looks like I was approved on November 2. Does that mean I can apply for a CLI on February 2 or do I need to wait for three timely payments?

Probably wouldn't hurt to wait til that third payment posts before requesting since CapOne likes to see payment history but yes February 2nd is your "I can request after this date".

Re: Capital One - CLI questions

pinkandgrey — Sun, 20 Jan 2019 21:14:04 GMT

Cap One CLIs are SP. After only 3 months, it’s POSSIBLE but maybe not highly likely. 5-6 months would probably increase your chances, but since it is SP, you can always try. Heads-up: Capital One is not known for its generosity when serving up increases. Good luck!

Re: Capital One - CLI questions

HeavenOhio — Sun, 20 Jan 2019 22:07:39 GMT

I'd request a CLI about a month before your scheduled $500 Credit Steps increase. Doing that won't affect your Steps increase. However, your Steps increase will kick in the six-month waiting period.

In this case, you'll want to take whatever they're willing to give you. Normally, if the increase that's offered is too low, you can decline it without resetting the waiting period.

Re: Capital One - CLI questions

diane11 — Sat, 23 Mar 2019 00:04:34 GMT

Hi all! I'm going to request the CLI now. I think I'll get my auto increase next month.
Question: How do I decide whether to accept or decline their offer? It's a Cap1 platinum and the CL is $3k.

Re: Capital One - CLI questions

Anonymous — Sat, 23 Mar 2019 00:10:30 GMT

You should probably just accept it, then request another one in 6 months. Only decline it if you think you can get a better CLI sooner than the 6 month waiting period.

Re: Capital One - CLI questions

HeavenOhio — Sat, 23 Mar 2019 03:25:20 GMT

This time around, take whatever they offer as it will be your only shot to request before the $500 increase happens.

In the future, you'll want to decline whenever you deem their offer to be too low. Accepting the offer would kick in the six month waiting period. Declining would allow you to try again as soon as you think you might be positioned for more.