topic Re: Cap 1 CLI question in Credit Cards

Cap 1 CLI question

dynamicvb — Tue, 11 Sep 2018 14:57:16 GMT

I've had my secured cap 1 for about 4 months now. Its almost to the 5th statement cut. I've used the card moderately over the past 4 statements. Not so much this one that is about to cut, but charged up 2 twice the limit the previous two and made multiple payments jsut to keep utilization low at all times. I think it got up to about 50% at the highest before I would pay it down

I'm wondering if I should hit the luv button now or just wait a few days until the statement cuts. I've seen people say they hit it every month, but I was not sure that was before or after they had the 5th statement cut.

This card is pretty useless with only a 400 dollar limit and I would use it more if I did not need to make so many payments just to keep the utilization down. Seems like most think the SP for the CLI pulls EQ and that is a good bit higher now than when I applied for the card.

Re: Cap 1 CLI question

xaximus — Tue, 11 Sep 2018 15:29:36 GMT

I would hit the luv button as long as it's an SP. I do it often for all the cards I have. There's no issue with having an SP. It's the HPs I would think twice about.

Re: Cap 1 CLI question

dynamicvb — Tue, 11 Sep 2018 16:08:00 GMT

Yeh, I'm not really concerned about the SP. I was thinking more in terms of the auto CLI they should give me in a week or so for the 5th month. i did not want to do anything to limit what that may be.

Re: Cap 1 CLI question

Anonymous — Tue, 11 Sep 2018 16:11:12 GMT

they will not give a cli if you request it for the cap one secure card they generally give an automatic cli on the 5th or 6th statement

Re: Cap 1 CLI question

StartinOver — Tue, 11 Sep 2018 17:54:37 GMT

what is the chance for a second increase? I am thinking time wise it is likely been 6 months since the first increase. Would it matter how high my balance is? I just put home repairs on mine and I need more.

Re: Cap 1 CLI question

Anonymous — Tue, 11 Sep 2018 19:18:05 GMT

Your first CLI is a part of the credit steps program and involves a review of unsecuring your card, increasing your limit or just increasing your limit. They will auto decline your request for a CLI. I would wait for the program you are in to run its course. Keep in mind that your card is bucketed in a a sub-prime category that will grow very slowly. They will automatically review your account every 6 months and grant you an increase if your profile supports it. And they will determine if they can return your security deposit.

If you have any questions about the credit steps program you can search on "credit steps, capital one" here and find lots of helpful info. Or you can always call Capital One. Remember because you are a part of a program, not all of the Capital One rules and features will apply.

Good luck! When your scores improve be sure to try the pre-qual again and app for a better Cap1 product in a prime bucket. Oh and don't forget that they pull all 3 bureaus. As always YMMV.