topic Re: Capital one CLI offer not sure what to do in Credit Card Applications

Capital one CLI offer not sure what to do

SRT4kid93 — Mon, 02 Dec 2024 06:39:37 GMT

So my 4th statement just generated, I asked for a cli to 3 grand and they came back and offered me $100 increase. I know this is typical for heavily bucketed cards but I don't believe my card is bucketed. My starting limit was 1500 which is well above the $300 starting limit most people speak of when talking about bucketed cards. and it's also a world elite MC if that makes any difference

I declined it for now, I figured maybe the reason they only offered $100 was because I'm not even at the 6 month mark yet. And so maybe if I want until 6 months I may have a better chance of getting more. And I also was afraid if I accepted it, it would reset the 6 month clock, so I figured I would take the chance. Wait 2 more months and try again.

what do you all think? Do you think I'll have a better shot at a bigger increase if I wait a little longer? Or should have I just taken the increase? (I should also mention that for the first 3 months I let the card report 0 balance each month, and this past statement was the first statement I let it report a balance. I've heard that the best way to get a big increase with cap one is to let it post a big balance for 3+ months in a row leading up to your CLI, so I also figured the 2 additional months of large balances may also help my case)

so to sum up

- declined $100 increase cause I'm 2 months away from 6 month mark

- figured the 2 additional months of large posted balances may help, since 3/4 months thus far were $0

Re: Capital one CLI offer not sure what to do

cashorcharge — Mon, 02 Dec 2024 22:07:46 GMT

If you're account is bucketed....in my experience...I have not heard, seen or witnessed an "Unbucketing" so once it's there...you're there and $100 CLI's are your new norm. I don't see the 6 month clock warranting anything greater. As you've declined this, we'll look forward to your update in 2 months

Re: Capital one CLI offer not sure what to do

SRT4kid93 — Mon, 02 Dec 2024 23:31:42 GMT

I know this happens all the time with the heavily bucketed cards but I didn't think a card with that high of a starting limit would be affected.

Plus the fact I'm not at 6 months yet. Oh well I can reapply for a better card later if needed

Re: Capital one CLI offer not sure what to do

Debt-is-a-Scam — Tue, 03 Dec 2024 13:46:04 GMT

So I'm a bit new to Capital One, but I've looked at their cards rather extensively and I don't see a world Elite Mastercard anywhere on their site. They have Venture, Savor, QuickSilver, Spark, and a bunch of department store cards. My educated guess would be to wait 6 months, use your card as if it's your primary, very aggressively pay down all debt, and maybe do a product change to an upper level flagship card. Or even just apply for a whole new card altogether. I think that's what they like to see.

Re: Capital one CLI offer not sure what to do

SRT4kid93 — Tue, 03 Dec 2024 15:43:21 GMT

@Debt-is-a-Scam

Sorry I should clarify that world elite master card is the top level of Mastercard.

theres Mastercard, world Mastercard, and world elite. Visa has its own ranking system as well.

In order to qualify for the world elite you need to meet certain criteria including an income requirement it's usually reserved for the best applicants.

Re: Capital one CLI offer not sure what to do

Herestohoping19 — Tue, 03 Dec 2024 17:22:56 GMT

Afaik it is not predetermined that you are bucketed solely by starting limit. The 100 dollar increase could be indicative of this or could just be due to 0 balance at statement cut. I've had several cards with Cap1 and even got a 2500 starting limit that I got no increases on for 5 months and that was even with carrying a balance through statements. So my opinion may be biased but I would say if the card doesn't yield better increases following posting with a balance I would say that is indicative of being bucketed and it might be time to SD that card.

Re: Capital one CLI offer not sure what to do

SRT4kid93 — Tue, 03 Dec 2024 22:50:07 GMT

Yea I'm hoping it's just because I'm a brand new customer and I haven't even had the card 6 months yet. The thing is I really like the card and don't want to sock drawer it.

I could always apply for a new card and transfer the limit, but that's a hassle. Doing this kills your average age. Plus it would result in like 15 cards by the time your done. Unless you cancel all the doner cards. But that's another hassle.

Re: Capital one CLI offer not sure what to do

yam1rts — Wed, 04 Dec 2024 08:53:33 GMT

can't wait to see what happens next. I should have done the same thing when I had the chance.

Re: Capital one CLI offer not sure what to do

Gregory1776 — Wed, 04 Dec 2024 12:07:18 GMT

@SRT4kid93 wrote:
Yea I'm hoping it's just because I'm a brand new customer and I haven't even had the card 6 months yet. The thing is I really like the card and don't want to sock drawer it.

I could always apply for a new card and transfer the limit, but that's a hassle. Doing this kills your average age. Plus it would result in like 15 cards by the time your done. Unless you cancel all the doner cards. But that's another hassle.

You're going to have cards you are going to cancel. In 5 years that won't matter, hell banks do not care about that information right now. It's 10% of your score? That makes a tiny difference when your 70.

they want to know if you are going to use your credit cards responsibly and pay back. Some of your credit cards are beginner cards - use them as such. When you get better cards and more income and therefore higher limits you'll find the beginner cards absolutely useless.

right now the only "beginner card" I have is my PCR, 7 yo with a 2,500 limit which is roughly what I spend a month. No possibility to increase it. So in a year or so it's getting closed if things don't change with the PenFed. Sucks it's 7 years old rn but in 18 years it's literally not going to matter. Stop running on 2.5x speed while the banks are at 1x

All closed accounts; 2 I closed; Home Depot not shown. Closed that early this year.

Re: Capital one CLI offer not sure what to do

SRT4kid93 — Wed, 04 Dec 2024 15:58:55 GMT

Everyone I also wanted to say

if you reject a cap one CLI, you can go back 5 minutes later, type In the same info. And get the exact same offer. I have tried it multiple times after turning it down and the offer is still there when I'm ready.

so turning it down is not the end of the world

Re: Capital one CLI offer not sure what to do

CreditPoor — Wed, 04 Dec 2024 17:17:52 GMT

In all honesty you're focused on the wrong things. As previously mentioned you have mostly beginner cards with small limits and your focus should be building those relationships and using the cards responsibly. Focus on increasing your income and growing those cards.

In a couple years you'll be able to get whatever cards you want. Also stop trying to build with credit one, it's a **bleep** card and not a good look to lenders. Credit one is the bottom of the barrel

Re: Capital one CLI offer not sure what to do

NoMoreE46 — Wed, 04 Dec 2024 18:59:08 GMT

@Debt-is-a-Scam wrote:
So I'm a bit new to Capital One, but I've looked at their cards rather extensively and I don't see a world Elite Mastercard anywhere on their site. They have Venture, Savor, QuickSilver, Spark, and a bunch of department store cards. My educated guess would be to wait 6 months, use your card as if it's your primary, very aggressively pay down all debt, and maybe do a product change to an upper level flagship card. Or even just apply for a whole new card altogether. I think that's what they like to see.

The Ven X should be an Infinite tier card. These tiers for Visa & MC are not as prestigious as one may believe.
The new USB Smartly card for example is a Signature. There have been too many approvals with a $300 SL

Re: Capital one CLI offer not sure what to do

SRT4kid93 — Wed, 04 Dec 2024 20:17:18 GMT

@CreditPoor

That's exactly what I'm trying to do. But capital one has made it pretty clear that it will probably never grow. Chase hasn't grown yet, the other card showing any growth is credit one. It's crazy. At least they are offering to more than double my current credit limit with them. I'm not debating they are terrible, all I'm saying is they have grown with me more than capital one or chase. (Granted I have been with credit one longer than the others, and therefore have built more of a relationship, but still)

Re: Capital one CLI offer not sure what to do

Tiggr — Wed, 04 Dec 2024 23:07:16 GMT

I'd also be interested in seeing what offer you end up getting in a couple months, unlike you I did actually accept two different 100$ cli offers I shouldn't have.

Re: Capital one CLI offer not sure what to do

SRT4kid93 — Mon, 27 Jan 2025 17:52:11 GMT

@yam1rts @Tiggr

you two were both interested in the results. I made another thread about it but i wanted to reply here as well incase you didnt see the other thread.

turning down the $100 and waiting paid off. As soon as my account hit the 6 month mark they increased my limit to $5000.

Re: Capital one CLI offer not sure what to do

masscredit — Tue, 28 Jan 2025 14:58:13 GMT

@SRT4kid93 wrote:
@Debt-is-a-Scam

Sorry I should clarify that world elite master card is the top level of Mastercard.

theres Mastercard, world Mastercard, and world elite. Visa has its own ranking system as well.

In order to qualify for the world elite you need to meet certain criteria including an income requirement it's usually reserved for the best applicants.

I didn't know this. One thing I've noticed is a $5.00 monthly credit for my Peacock service. It's billed to my QuickSilver card. When I researched the offer I found - The Peacock Mastercard offer provides a monthly statement credit for Peacock Premium to eligible World and World Elite Mastercard.

Re: Capital one CLI offer not sure what to do

SRT4kid93 — Tue, 28 Jan 2025 22:35:04 GMT

@masscredit

Yes I have a theory that I'm going to be testing that you shouldn't request an increase with capital one, you should wait until you get an auto increase.

Because I requested an increase every month and the offer never changed from $100. But as soon as I got an auto increase, I got a huge increase. And so I think cap one tries to trick people into taking the bad credit increase, but if you are patient and hold out for a better offer. It will come. (Keep in mind for this strategy to work I believe you need to put a lot of spend on the card, as I believe that is the biggest way to trigger an auto increase with them.

of course the amount of data points I have to support this theory is very small. And this whole idea is in beta testing. But I will continue my strategy until it stops working. If I don't like the offer they give me when I request an increase I will deny it and hold out for a auto increase. ( as it seems cap ones biggest increases are the auto ones, and a lot of the time when you request an increase, you are only offered 10% increases)

so if you have a $4000 credit line and you request an increase you may only get $100-$400 increases, but the auto increases? Those always seem to be much bigger. From all the data points I have seen the auto increases are usually between $2000-$5000, and people have claimed to get auto increases as large as 11k.

Maybe it's because people request the increases before the 6 month mark, so naturally they won't get as much. Maybe it's capital ones plan to give out less credit whenever possible, and only give the real increases when it really benefits them.

I will continue to update the forum on my strategy and results

Re: Capital one CLI offer not sure what to do

masscredit — Wed, 29 Jan 2025 14:20:38 GMT

@SRT4kid93 My CH7 BK was discharged in June '22. I've kept track of all of my cards since I started rebuilding. In my notes, I set the date to request a CLI for the cards that allow SP requests. This is my history with my two Cap1 cards that I -

Capital One Savor One- $3000 (Opened 6/19/23) - $4500 (7/11/23) - $5000 (2/3/24) - $5500 (8/5/24) - Combined accounts 10/28/24 - $7500. Request CLI- 2/5/25

Capital One QuickSiver - $3000 (11/23/22) - $4500 (2/3/24) - $5000 (8/5/24) Request CLI - 2/5/25

I'm actually going to request CLIs the middle of next month instead of the 5th because I let a high balance report on a new card (89%) so I want that to go back to reporting $0 and get my points back first. I don't think I could hold for their to give an auto-increase because that could take years. I guess I like instant gratification lol!

Re: Capital one CLI offer not sure what to do

gnarlycow — Wed, 05 Feb 2025 00:09:22 GMT

Just wanted to add that you don't necessarily need to wait 6 months since account opening or the previous CLI to become eligible for a CLI. I've successfully received another CLI after 3 months of the previous CLI. I believe it's account-specific in their system, i.e. depending on the account, they may want to see 3, 4, or 6 months of on-time payment before offering another increase.

Re: Capital one CLI offer not sure what to do

SRT4kid93 — Wed, 05 Feb 2025 01:27:29 GMT

@gnarlycow

Very true.

not only is it profile specific but also issuer specific. Discover has been known to give out 2 credit limit increases in the same month.

But yes, With consistent heavy use I have no doubt you can get an offer every 3 months.

in fact I got an offer after 3 months. But all I'm saying is "if you hold off for that 6 month mark, instead of taking the first off you get. You may see much better results, which is exactly what happened to me.

I got my first offer with capital one after the 3rd statement. But the offer was for $100, which is why I decided to hold off. I continued to request after the 4th and 5th statement and the offer never budged from $100. That is when I started to lose hope that waiting would yield better results. I was expecting the 6th statement to come out, and get that same $100 offer, if I was lucky I thought maybe I'd get a $500 increase at most. But the day before my 6th statement posted I got the email that said my limit was raised to $5000, I couldn't believe it at first.

it really depends on your situation, if you are satisfied with the offer you receive after 3-4 months. Take it, I simply told myself that I would never accept a $100 CLI, because in my mind, accepting that offer was not only pointless, but it would also mean giving in. I needed to see if patience, hope, and faith would pay off.