topic Re: Cap 1 strategy in Credit Cards

Cap 1 strategy

red259 — Mon, 04 May 2015 21:32:22 GMT

I have a venture card at a 10k limit for two years. Initially it was five and then after six months I went to EO and got it to 10k. Since then I have hit the love button several times and have gotten nothing. The card has been in the sock drawer since Jan. AF is about to hit as I enter the third year with this card. Do I have any sort of chance at a CLI? What are the chances of getting AF waived? If I can't get AF waived I am going to downgrade to QS and SD card. I would like an increased credit line to help with util when I do not renew some of my other cards in the future.

Re: Cap 1 strategy

Anonymous — Mon, 04 May 2015 21:46:26 GMT

If the card doesn't show activity that might be a good reason why your not getting a CLI. Unfortunately from what I hear csr nor EO will do a CLI. The luv button is your only choice Imo. I would however down grade to the venture one since you don't seem to send too much on it. Latley cap1 has been on another level so I don't see an issue with a product change. If it were me QSV is better 1.5 % rather then 1.25% good luck

Re: Cap 1 strategy

JcT21 — Mon, 04 May 2015 21:48:16 GMT

do you use them a lot? ive heard that cap1 likes heavy usage / lot of swipes. im a heavy cap1 user. i run everything i can through my cap1 cards and pif except i let a small balance on my wmc report each month and thats the only report that hits my credit reports. that said, ive never had a problem getting cli from cap1. i was able to PC my qs1 to the qs with no af.

i rarely use my barclay and discover cards. thus i have a very difficult time getting cli's i think the key is that if you use them, they should return the luv. so far its worked with me and cap1

Re: Cap 1 strategy

red259 — Mon, 04 May 2015 21:53:25 GMT

@JcT21 wrote:
do you use them a lot? ive heard that cap1 likes heavy usage / lot of swipes. im a heavy cap1 user. i run everything i can through my cap1 cards and pif except i let a small balance on my wmc report each month and thats the only report that hits my credit reports. that said, ive never had a problem getting cli from cap1. i was able to PC my qs1 to the qs with no af.

i rarely use my barclay and discover cards. thus i have a very difficult time getting cli's i think the key is that if you use them, they should return the luv. so far its worked with me and cap1

Nope I don't use my cap 1 card at all. I have other cards that offer me a better return. Unfortunatly, I can't see shifting my spend on the hope I will get a CLI with cap 1. If it was a guarantee maybe, but in general that is just too much of a loss for me and I kinda figured this would be the issue.

Re: Cap 1 strategy

Anonymous — Mon, 04 May 2015 21:56:50 GMT

Look at it from their point of view. Why give more credit when you dont use what you have.

Re: Cap 1 strategy

Creditwiser — Mon, 04 May 2015 22:01:04 GMT

@JcT21 wrote:
do you use them a lot? ive heard that cap1 likes heavy usage / lot of swipes. im a heavy cap1 user. i run everything i can through my cap1 cards and pif except i let a small balance on my wmc report each month and thats the only report that hits my credit reports. that said, ive never had a problem getting cli from cap1. i was able to PC my qs1 to the qs with no af.

i rarely use my barclay and discover cards. thus i have a very difficult time getting cli's i think the key is that if you use them, they should return the luv. so far its worked with me and cap1

Ditto on 1st paragraph.

Re: Cap 1 strategy

red259 — Mon, 04 May 2015 22:02:46 GMT

@Anonymous wrote:
Look at it from their point of view. Why give more credit when you dont use what you have.

Same can be said for amex giving me way more than I ever use. Or maybe they should look at my other card limitis and see I have over double their credit line on other cards and those cards are the ones I am using. The problem is I doubt most people worry about util, so lenders probably don't factor that in as a consideration.

Re: Cap 1 strategy

Pway — Tue, 05 May 2015 00:57:11 GMT

I agree with all the others here. Capital One likes to see a lot of useage. When my limits was low I was paying 2 to 3 times a month. If there is no useage they are not likely to give you a CLI

Re: Cap 1 strategy

Anonymous — Tue, 05 May 2015 01:10:23 GMT

@red259 wrote:
I have a venture card at a 10k limit for two years. Initially it was five and then after six months I went to EO and got it to 10k. Since then I have hit the love button several times and have gotten nothing. The card has been in the sock drawer since Jan. AF is about to hit as I enter the third year with this card. Do I have any sort of chance at a CLI? What are the chances of getting AF waived? If I can't get AF waived I am going to downgrade to QS and SD card. I would like an increased credit line to help with util when I do not renew some of my other cards in the future.

What other cards and credit limits are on your bureaus? I always try to analyze a report as there is more to the equation than having a $10,000 limit card with a $59 AF for 2 years. A card with that type of limit is to be cherished. Those type of limits aren't to be obtained easily. Plus you have history with the card. You income and debt to income could be an issue.

A $59 AF is chump change. You could make a few automatic payments to the card monthly. I would never treat a 5 figure CL lightly. You worked hard to get it.

Re: Cap 1 strategy

red259 — Tue, 05 May 2015 01:17:45 GMT

@Anonymous wrote:
@red259 wrote:
I have a venture card at a 10k limit for two years. Initially it was five and then after six months I went to EO and got it to 10k. Since then I have hit the love button several times and have gotten nothing. The card has been in the sock drawer since Jan. AF is about to hit as I enter the third year with this card. Do I have any sort of chance at a CLI? What are the chances of getting AF waived? If I can't get AF waived I am going to downgrade to QS and SD card. I would like an increased credit line to help with util when I do not renew some of my other cards in the future.
What other cards and credit limits are on your bureaus? I always try to analyze a report as there is more to the equation than having a $10,000 limit card with a $59 AF for 2 years. A card with that type of limit is to be cherished. Those type of limits aren't to be obtained easily. Plus you have history with the card. You income and debt to income could be an issue.

A $59 AF is chump change. You could make a few automatic payments to the card monthly. I would never treat a 5 figure CL lightly. You worked hard to get it.

Its an ok credit line but I have a chase hyatt at 21k, a CS at 12k, a Amex BCE at 17.1k, an amex everyday at 15k and two citi cards which I can't remember right now but they are both above 10k . There is no way I will pay the AF for a card in a SD with no benefits. I can downgrade to QS in order to keep account open.The problem is some of my other cards do not have downgrade options and can be a real pain to move credit lines with. Therefore, I would want to buff up the credit lines of cards I can keep open long term to help with my util.

Re: Cap 1 strategy

Anonymous — Tue, 05 May 2015 12:33:30 GMT

Yes, capital one likes to see you spend quite a bit on their card in order to continue to get increases

Re: Cap 1 strategy

masscredit — Fri, 08 May 2015 05:13:40 GMT

It's almost time for me to request a CLI for my Cap 1 Venture card. My last increase was 5 months ago (December 3, 2014). The limit on one of my Barclay cards recently went over $10k so I'm going to let that post first. That will be when the statement closes in a few weeks. The Venture card's limit is at $6k. I was going to ask for $8k but I'm just going to go for the gold and ask for $10k. I run a few thouand through it each month and PIF before the statement closes. A few questions -

How many have had success with the Luv Button? I've used it twice. Once for each card about a year and a half ago, Received a $2k increase for each card.

Are many of you at 10k or higher?

And finally, have you noticed a certain percentage increase when you recieve an increase? From what I've seen with Barclay, a lot of my increases from them have been in the 28-33% range.

My goal for my Cap 1 cards is to at least get both of them to $10k. And after that happens, you know I'll want more!

Re: Cap 1 strategy

Anonymous — Sun, 14 Jun 2015 04:00:13 GMT

My opinion probably doesn't matter much in this but I got just a $300 CL in Nov 2014 and requested an CLI online and was approved for $800 total CL. I used the card twice in that time frame. Once for $290 and once for $250 and PIF each time just to get the useage..plus the 1.5% isnt bad either

Re: Cap 1 strategy

Anonymous — Sun, 14 Jun 2015 08:10:40 GMT

Just look at some of these people on here who are posting about having 800 scores, 85+ CC's, and being denied. You have to stop looking at this strictly from your view point and look at it from the lender's. With so many CC's, you are not the "normal CC" user. Your are probably in the .01% of all CC user's and what the lender has experienced with these . 01%, they obviously don't like. They probably feel there's very little profit to be made with someone like this, and prefer not to have them. They also most likely figure your "churning" cards simply for the rewards, and they're not in the business to give out free money. Some people get really offended by this thinking based on their high scores, they should never be declined. But it's the lender's choice and they have the ultimate decision.

Re: Cap 1 strategy

Anonymous — Sun, 14 Jun 2015 08:14:36 GMT

@red259 wrote:
I have a venture card at a 10k limit for two years. Initially it was five and then after six months I went to EO and got it to 10k. Since then I have hit the love button several times and have gotten nothing. The card has been in the sock drawer since Jan. AF is about to hit as I enter the third year with this card. Do I have any sort of chance at a CLI? What are the chances of getting AF waived? If I can't get AF waived I am going to downgrade to QS and SD card. I would like an increased credit line to help with util when I do not renew some of my other cards in the future.

Take is out of the SD and use the heck out of it!

Re: Cap 1 strategy

Anonymous — Sun, 14 Jun 2015 08:16:10 GMT

Cap One's been great to me. I still have a 2010 open judgements for Cap One and last month they approved me for a QS 5K CL. My statement just closed and this account posted to all 3 CA's yesterday. I went to Cap One's prequal webpage and it offered almost every card, including Venture, Venture 1, QS, QS 1, and Plat. I appd for Venture hoping for at least another 5K CL, and possibly up to 10K. Came back with 20K !!!! That's my highest CL by far. Only my QS and my newest Chase Slate are at 5K and 5500., so getting 20K was AWESOME. This allows me to work on increasing all my brand new cards that gave me low 1K - 2500. CL's.