topic Cap 1 CLI Frequency? in Credit Card Applications

Cap 1 CLI Frequency?

masscredit — Sat, 16 May 2015 17:01:47 GMT

I met my first major goal last month. That was getting one of my cards to a $10k credit line. In that case it was my Barclay Rewards card. Next up is my Capital One Venture. The last time it received an increase was December 3rd so it's been close to 6 months. Current limit is $6k. I'll try the Luv Button first and then go from there. Thinking about trying to increase the limit of my QuickSilver card at the same time. The last increase for that card was February 11th. So I have 6 months for the Venture and 3 months for the QS. I usually wait 6 months before I request an increase but have read that some people have had success after 2-3 months. Next goal is getting each of those cards to $10k.

How often have you recevied a CLI from Cap 1 and was it by using the Luv Button or through chat, e-mail or calling?

Re: Cap 1 CLI Frequency?

Anonymous — Sat, 16 May 2015 18:13:48 GMT

Every 6 months but sometimes sooner IF you contact the EO

Re: Cap 1 CLI Frequency?

Anonymous — Sat, 16 May 2015 19:42:04 GMT

i got a cli in about 3 months.. will try in 3 months again!

Re: Cap 1 CLI Frequency?

Anonymous — Sat, 16 May 2015 20:03:00 GMT

Avg. 6mos.

Re: Cap 1 CLI Frequency?

masscredit — Sun, 17 May 2015 00:11:05 GMT

I think the plan will be to use the Luv Button to request an increase on my Venture card after the current statement closes on the 6th. I'll call the EO if it's denied for some reason. I'll also try the Luv Button for the QS but won't call on that if it doesn't go through. I'll then wait until the 6 month mark in August then try again.

Re: Cap 1 CLI Frequency?

stagefoursurvivor — Sun, 17 May 2015 01:11:58 GMT

Cap1 can be very odd with CLIs if you research closely here.

I had my QS SL gor from $5K to $8K at about 10 weeks AND my V1 from $7.5K to $12.5K, same interval. I closed my Platinum(no rewards) MC and 8 weeks later was approved for another QS Sig SL $5K.

My Venture will hit 60 days 5/20 and if I get a decent CLI from SL of $15K I'll close my QS1.

I started with Cap1 11/14 with total CLs of $5K, now $44K, my total usage over those 6 months is roughly $15K. Met all the various promo spend requirements and have left $3-4K balance on the 0% promo cards. All the CLIs have been requested and only contacted the EO once, when a denial was apparently based on an outdated CR.

Re: Cap 1 CLI Frequency?

masscredit — Sun, 17 May 2015 02:52:16 GMT

You mention something that I didn't think about. They might view a credit report that is a few months old. Not that there is negative info on it. Current reports have more positive info. And one of the things that I was hoping would be my "ticket to ride" is another account reporting a $10k plus credit line. That will be reporting next week. Okay... now I have to think. Do I go for it in a few weeks or wait a few months so the decision will most likely be based on the credit limits that I have now (if that even matters)?

The Venture card going from $6K to $10K would be a significant jump. But as you point out. your card went from $7.5K to $12.5K. Did you have any other cards with a limit like that or higher when you received the increase?

Re: Cap 1 CLI Frequency?

stagefoursurvivor — Sun, 17 May 2015 03:05:23 GMT

@masscredit wrote:
You mention something that I didn't think about. They might view a credit report that is a few months old. Not that there is negative info on it. Current reports have more positive info. And one of the things that I was hoping would be my "ticket to ride" is another account reporting a $10k plus credit line. That will be reporting next week. Okay... now I have to think. Do I go for it in a few weeks or wait a few months so the decision will most likely be based on the credit limits that I have now (if that even matters)?

The Venture card going from $6K to $10K would be a significant jump. But as you point out. your card went from $7.5K to $12.5K. Did you have any other cards with a limit like that or higher when you received the increase?

When I was approved for the $15K Venture I had the Lowe's store card at $12K, my highest limit was the V1 at $7.5K however, when I hit the button for the V1 at 10 weeks, I had another Visa at $15K, PLOC $10K.

Now, here's a very valuable point, a couple here have hit the Venture button prematurely(?) and been offered $750 CLIs, they declined and tried again a month later and received >$3K.

It appears that if you're dissatisified with the proferred CLI, decline and try again.

Re: Cap 1 CLI Frequency?

Anonymous — Sun, 17 May 2015 06:14:23 GMT

I think it's wise to let the high limits report before apping. It just makes the report more marketable IMO.

Re: Cap 1 CLI Frequency?

stagefoursurvivor — Sun, 17 May 2015 12:24:55 GMT

@Anonymous wrote:
I think it's wise to let the high limits report before apping. It just makes the report more marketable IMO.

Although I'm inclined to agree with this point, the flipside is they might consider that "you have sufficient revolving credit".

Re: Cap 1 CLI Frequency?

masscredit — Sun, 17 May 2015 12:58:48 GMT

Is there a difference between the credit report that Cap 1 reviews and what we see when we log into the site? Mine updates the beginning of each month. When I view it, I see that the account balances are correct for that date. Some have said when they applied for a CLI, the report used was a few months old. Any way to know what they are using when accounts are reviewed for an increase?

Re: Cap 1 CLI Frequency?

stagefoursurvivor — Sun, 17 May 2015 13:12:31 GMT

@masscredit wrote:
Is there a difference between the credit report that Cap 1 reviews and what we see when we log into the site? Mine updates the beginning of each month. When I view it, I see that the account balances are correct for that date. Some have said when they applied for a CLI, the report used was a few months old. Any way to know what they are using when accounts are reviewed for an increase?

Can't help you there AND it happened to me on a CLI, which was the only time I contacted the EO, AA document cited a 3 month old CR. EO did a SP and then a $1K CLI, that was the QS1 which I'm considering closing, my lowest CL at $3.5K

Re: Cap 1 CLI Frequency?

masscredit — Sun, 17 May 2015 14:13:09 GMT

I think I'm back to being all set for next month. I can try to get some luv online. If that doesn't go through then I can contact the EO. They can do a SP to see the most current info. I doubt the Luv Button would get me from $6K to $10K so I might be calling either way.

Re: Cap 1 CLI Frequency?

stagefoursurvivor — Sun, 17 May 2015 14:28:06 GMT

From my admittedly limited experience, regardless of the button or EO, I'd speculate $3-5K. It SEEMS the lower, $6K, the higher the CLI, the higher present limit, $15K in my case, the lower the CLI. IF I'm approved for a CLI, I'll be shocked if it's over $3K.

In addition, the EO seems to give favorable responses to CLI recons BUT, isn't especially generous. I haven't seen any reports of EO going above a couple $K.

As always, YMMV, you can never predict what any lender will do with complete accuracy.

I've had my share of pleasant surprises AND shocking disappointments...

Re: Cap 1 CLI Frequency?

masscredit — Sun, 17 May 2015 16:17:04 GMT

This has been my history with them -

Capital One Quicksilver - 9/27/11 - $750. - 8/12 - $1500. 5/14/13 - $2500. (EO) 1/11/14 - $4500 (Luv Button) - 7/15/14 $6000. (EO) - 2/11/15 - $8000 (EO)

Capital One Venture - 12/11 - $750. - 08/12 - $950. - 9/17/13 - $2500. (EO) - 5/2/14 - $4500. (Luv Button) - 12/3/14 - $6000. (EO)

The Venture card started off as a card that was owned by a different company and aqquired by Cap 1 about 2 years ago. I forget who it was. Both cards were converted over to what they are now last year.

Getting to $10K might be to much of a jump for the Venture card this time. I might end up with two $2K increases to get me there.

Re: Cap 1 CLI Frequency?

stagefoursurvivor — Sun, 17 May 2015 17:33:03 GMT

@masscredit wrote:
This has been my history with them -

Capital One Quicksilver - 9/27/11 - $750. - 8/12 - $1500. 5/14/13 - $2500. (EO) 1/11/14 - $4500 (Luv Button) - 7/15/14 $6000. (EO) - 2/11/15 - $8000 (EO)

Capital One Venture - 12/11 - $750. - 08/12 - $950. - 9/17/13 - $2500. (EO) - 5/2/14 - $4500. (Luv Button) - 12/3/14 - $6000. (EO)

The Venture card started off as a card that was owned by a different company and aqquired by Cap 1 about 2 years ago. I forget who it was. Both cards were converted over to what they are now last year.

Getting to $10K might be to much of a jump for the Venture card this time. I might end up with two $2K increases to get me there.

Cap1 seems even MORE peculiar with old & inherited cards for CLIs. In fact, quite frankly, I thought it was odd when you posted that you'd had this Venture for "awhile" and your CL was only $6K. In recent months 99% approved have started with a minimum $5K, with $10 & $15K very common.

Have you tried their pre-qual?

If this was my situation, I'd simply app for another Venture AND if approved instantly, apply for another QS/V1 immediately in hopes that there wouldn't be a second triple pull. Remember! This is what **I** would do.

I'm quite pleased with Cap1 and have a specific strategy to double my current $44K limits in the next 6 months over 5 different cards

Re: Cap 1 CLI Frequency?

masscredit — Mon, 18 May 2015 01:54:43 GMT

That's an idea. Not sure if I want to take the inquiry though. I'm trying to get them all down to zero and have done pretty good resisting the temptation to app for anything. I guess it will be a slow climb if I don't do that. Would like to get all of my main cards up over $10K then target one or two very prime cards at some point. I think I'd be able to start off with a healthy limit if approved for them.