topic Re: Cap One CLI Request in Credit Cards

Cap One CLI Request

FiveOhFour — Fri, 27 May 2016 20:48:38 GMT

Hi there, I am wondering if a Capitol One Credit Limit increase request is considered when applying for a new Cap 1 card later, for instance, it says potential reasons for denial are having applied for credit recently with capital one, and i'm wondering if asking for a CLI is considered "applying for credit", i assume they don't even re-run your credit for a CLI but i guess maybe they do.

Re: Cap One CLI Request

Pway — Fri, 27 May 2016 20:54:52 GMT

No, CLI requests are not considered when applying for new credit. The CLI requests are soft pulls .and applying for new credit with them is a HP. Applying for more than 2 products in the same month results in a denial.

@FiveOhFour wrote:
Hi there, I am wondering if a Capitol One Credit Limit increase request is considered when applying for a new Cap 1 card later, for instance, it says potential reasons for denial are having applied for credit recently with capital one, and i'm wondering if asking for a CLI is considered "applying for credit", i assume they don't even re-run your credit for a CLI but i guess maybe they do.

Re: Cap One CLI Request

FiveOhFour — Fri, 27 May 2016 21:13:21 GMT

Thank you, I got the Card in May of last year as my first proper credit car after building my credit with some secured cards and was approved for a $3,000 limit, my only other two secured cards up to that point were about $500 each. I applied for a CLI a few months later but it was declined for a reason i don't really recall, i think maybe low utilization. It was automatically raised to $4,000 shortly after that. Since then for the 6-8 months or so i've had a ballance of at least about $900 every month, i always pay each statement in full and never carry a balance but i charge at least $900 and up to a max of about $2,000 total, but i don't want my utilization to be that high so for the first month in a while i've only charged $300 on it and wont put more unless i can get a credit limit increase.

So my question is, is there any reason not to ask for a CLI on it? I mean in a perfect world they'd give me a $12,000 - $20,000 limit so that i can charge 1200-$2000 on it montly without utilizing over 10%, but i'm sure they wont do that, so last question is if i do ask for a CLI and they only raise it marginally or decline it altogether, should i write to someone in a position to do something and present my case asking for a higher limit so i can keep my utilization lower or is that a futile endeavor. Thanks and sorry for the block of text.

Re: Cap One CLI Request

RonM21 — Sun, 29 May 2016 19:46:24 GMT

As long as it's.a soft pull, I.say go for it. You have nothing to lose. Worst case, they.deny you. No harm no foul.

Re: Cap One CLI Request

Anonymous — Sun, 29 May 2016 19:59:14 GMT

No reason not to try. Go for it.

Re: Cap One CLI Request

FiveOhFour — Sat, 17 Sep 2016 03:44:29 GMT

I could've sworn i updated this thread, they increased my limit from $3,000 to $7,000, i had been using at least about $1200 every month for a while though, i'd like to request another but i've only been charging a few hundred a month for the last few months so i doubt they'd raise it again. Shame they don't raise it automatically.

I really need to get more cards too now

Re: Cap One CLI Request

Anonymous — Sat, 17 Sep 2016 15:51:39 GMT

Congrats on the increase. Keep using it and when 6 months has passed and you should be able to get it where you want it.

Yes, if that and the 2 secured cards are all you have it is definitely time to get some new cards! Especially if those scores in your siggy are still accurate.

Re: Cap One CLI Request

FiveOhFour — Sat, 17 Sep 2016 19:31:12 GMT

Thank you, its actually been over 6 months since they increased it from 3 to $7,000 but my usage has decreased since then fairly significantly so i assumed asking for a CLI was not wise at this point

@Anonymous wrote:
Congrats on the increase. Keep using it and when 6 months has passed and you should be able to get it where you want it.

Yes, if that and the 2 secured cards are all you have it is definitely time to get some new cards! Especially if those scores in your siggy are still accurate.

Re: Cap One CLI Request

Anonymous — Sat, 17 Sep 2016 19:41:26 GMT

You can hit that Cap1 button everyday if you want! It's not going to be a HP ever. It doesn't reset any clock either. So push away until you get the increase you like!

Re: Cap One CLI Request

FiveOhFour — Sat, 17 Sep 2016 20:44:07 GMT

@Anonymous wrote:
You can hit that Cap1 button everyday if you want! It's not going to be a HP ever. It doesn't reset any clock either. So push away until you get the increase you like!

hmmm thanks, i figured it at the very least prevented you from tryiing again for at least a month or something. I've had it for 11 months now and haven't applied for anything else since, even though many advised me to go for a spree when i applied for that card, I need to apply for at least one more now to keep building my credit report, i need to do some research into what cards are best and how to/what cards give the highest Balance usually or have the highest minimum balance, for instance i would've applied for the Venture card as my first unsecured instead of the quicksilver if i had known the minimum credit was 5,000 as opposed to $3,000, anyway, thanks again Donny, i appreciate your time.

Re: Cap One CLI Request

Anonymous — Sun, 18 Sep 2016 00:32:16 GMT

@FiveOhFour wrote:
@Anonymous wrote:
You can hit that Cap1 button everyday if you want! It's not going to be a HP ever. It doesn't reset any clock either. So push away until you get the increase you like!
hmmm thanks, i figured it at the very least prevented you from tryiing again for at least a month or something. I've had it for 11 months now and haven't applied for anything else since, even though many advised me to go for a spree when i applied for that card, I need to apply for at least one more now to keep building my credit report, i need to do some research into what cards are best and how to/what cards give the highest Balance usually or have the highest minimum balance, for instance i would've applied for the Venture card as my first unsecured instead of the quicksilver if i had known the minimum credit was 5,000 as opposed to $3,000, anyway, thanks again Donny, i appreciate your time.

With your scores, you may get the Venture with a 15k sl.

Re: Cap One CLI Request

FiveOhFour — Sun, 18 Sep 2016 01:15:09 GMT

So my score has fluctuated since i made my signature, it went down a bit after getting a negative off my account for some reason, i guess it lowered my AAoA, but its gone up and become more even across the board, but the highest isnt quite as high as it was. My FICO scores are EQ: 769 TU: 768 Exp:754 and FAKO's are both 760, so a little better in some ways and slightly worse in others, not sure how big of a deal that is.

Is there any reason to wait to ask for a CLI until after i apply for any new cards, or vice versa? I need to do some research, i guess theres Tier's or something or grade's of Creditors, i recall reading that Bank of America and Citi Bank were better than the others, not sure if that means any given person is likely to get a higher limit with them vs Cap1 or lower.

@Anonymous wrote:
With your scores, you may get the Venture with a 15k sl.

Re: Cap One CLI Request

Anonymous — Sun, 18 Sep 2016 01:51:11 GMT

You did will to ignore the advice to go on an app spree. You would probably have a bunch of junk cards that you have no use for now if you had. Taking your time and thinking about what you need before you app is very smart.

I don't know what banks give the best limits, but what are you looking for in a card? Cash back? Travel rewards? Low rates? With those scores the world is your oyster.