topic Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer? in Credit Card Applications

Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

Anonymous — Mon, 25 May 2020 14:02:47 GMT

I did both: I called and checked the website at Capital One in mid-April for a CLI after they automatically increased my CL by $3K six-months ago, but I declined the offer hoping for a higher CLI in the near future. It's been six-weeks, and still only the $1K increase is available on the website. Do I just accept the $1K now, or go on waiting a few more months only to land right back where I am right now?

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

Anonymous — Mon, 25 May 2020 14:21:59 GMT

Personally I would accept it, especially since you got $3k recently. It may disappear altogether, and CapOne isn't the most generous lender on average.

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

Ficoproblems247 — Mon, 25 May 2020 14:37:59 GMT

@Anonymous wrote:
Personally I would accept it, especially since you got $3k recently. It may disappear altogether, and CapOne isn't the most generous lender on average.

+1. It will be at the very least 6 months before anything starts leveling out. You may as well take the 1K to tide you over for now. I just accepted a 1K CLI from them the other day. I shrugged my shoulders and said 1 is better than none. With any luck, 6 more months from now they may be starting to open their pockets a little deeper. (Though with them I wouldn't count on it.) 😂

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

Anonymous — Mon, 25 May 2020 14:47:05 GMT

I would definitely take it.

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

TekkenQQ7 — Mon, 25 May 2020 15:00:23 GMT

I was offered $500 for my venture (quicksilver now) at 6 months mark, offer declined few times, now it's gone and its been like 7 months but every time I check I get the low usage reason. I think you should accept it,1K is not bad.

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

Mv350 — Mon, 25 May 2020 16:12:51 GMT

take it

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

M_Smart007 — Mon, 25 May 2020 17:14:19 GMT

@Anonymous wrote:
I did both: I called and checked the website at Capital One in mid-April for a CLI after they automatically increased my CL by $3K six-months ago, but I declined the offer hoping for a higher CLI in the near future. It's been six-weeks, and still only the $1K increase is available on the website. Do I just accept the $1K now, or go on waiting a few more months only to land right back where I am right now?

As Steve Miller Sang; "Take the Money and Run"

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

Anonymous — Mon, 25 May 2020 18:24:10 GMT

Accepted the measley $1K CLI. I know I should be grateful to even access to a CLI with a BK on file, but I guess I was slefishly expecting to be farther along after six years. Thank you all for the kind advice.

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

AllZero — Mon, 25 May 2020 18:25:47 GMT

Congratulations on your CLI!

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

Brian_Earl_Spilner — Mon, 25 May 2020 18:29:43 GMT

@Anonymous wrote:
Accepted the measley $1K CLI. I know I should be grateful to even access to a CLI with a BK on file, but I guess I was slefishly expecting to be farther along after six years. Thank you all for the kind advice.

That's 3-10x more than they normally offer people. Especially if it's not being used heavily.

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

Azuieldrago — Mon, 25 May 2020 18:56:38 GMT

I would accept. Some people are only getting $100 offers.

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

Mv350 — Mon, 25 May 2020 19:02:16 GMT

@Anonymous wrote:
Accepted the measley $1K CLI. I know I should be grateful to even access to a CLI with a BK on file, but I guess I was slefishly expecting to be farther along after six years. Thank you all for the kind advice.

Something is better than no dice, my last CLI was $100

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

Anonymous — Mon, 25 May 2020 19:12:54 GMT

Outside of the steps increase, my first successful CLI was exactly $100. Every other attempt has been met with a middle finger. My bucketed card really isn't worth trying to grow, but with the increases you're getting, yours definitely is. Good move accepting the offer.

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

Anonymous — Mon, 25 May 2020 20:40:21 GMT

@Brian_Earl_Spilner wrote:
@Anonymous wrote:
Accepted the measley $1K CLI. I know I should be grateful to even access to a CLI with a BK on file, but I guess I was slefishly expecting to be farther along after six years. Thank you all for the kind advice.
That's 3-10x more than they normally offer people. Especially if it's not being used heavily.

Ok, I do not want to sound like a charlatan saying with certainty what will happen in the future, but the second half of this year could be brutal for many people and the economy as a whole.

Enhanced $600 weekly unemployment scheduled to end at the end of July.

Imagine an unemployed couple that used to work at the same company.

When that benefit ends, that is $4800 less a month for the household.

Many employees that had been told that they were "furloughed" will be officially transitioned to laid off by then as well.

Just my opinion, but I expect credit underwriting (especially for unsecured debt) to become stricter as we progress through the year.

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

Anonymous — Mon, 25 May 2020 23:49:32 GMT

@Anonymous wrote:
Accepted the measley $1K CLI. I know I should be grateful to even access to a CLI with a BK on file, but I guess I was slefishly expecting to be farther along after six years. Thank you all for the kind advice.

congrats!

I think you made the right call. I can tell you that I've been a Capital One customer for almost twenty years and can count CLIs on one hand. I don't think you'd get more unless you put 50% or more utilization on it for at least 6 months. They're very much a "show me you need it" bank when it comes to increases.

Re: Do I Accept the $1K CLI from Capital One, or Wait for a Higher Offer?

TekkenQQ7 — Tue, 26 May 2020 00:04:14 GMT

@Anonymous wrote:
Accepted the measley $1K CLI. I know I should be grateful to even access to a CLI with a BK on file, but I guess I was slefishly expecting to be farther along after six years. Thank you all for the kind advice.

There is nothing wrong with dreaming big. Credit is a game, either you in or out the choice is yours.

Congralutations.