topic Re: Capital One CLI questions in Credit Cards

Capital One CLI questions

Anonymous — Wed, 27 Feb 2019 02:57:28 GMT

On Capital Ones credit limit increase there are questions that ask “how much do you spend each month across all credit cards” and “how much do you plan to spend on this credit card.”

It also asks what the “max” amount of credit I would want. Well, there’s no max amount lol

For the first two questions, is it better to say very high amounts or stay conservative? And what about the max amount?

I’d want to get the highest limit possible.

Re: Capital One CLI questions

Anonymous — Wed, 27 Feb 2019 03:13:42 GMT

I'd go higher rather than lower when it comes to all 3 questions.

When it comes to total CC spend, they get to determine how much of that spend is going to them relative to everyone else. For example, perhaps you only put $500/mo through their card, but you say you spend $5k/mo on credit cards. This is indirectly telling them that you are giving their competition 90% of the business. If one of the reasons as to why that may be the case is a CL-constraint, it could provide further incentive for a [greater] CLI.

Same thing for what you plan to spend on their card. You want this number to be very significant portion of your current limit and still a significant portion of your proposed limit. If you're spending $500/mo with them currently on a $1500 limit, I'd move my proposed spend to something like $1500/mo, especially if my overall spend is stated to be (say) several times that.

As for the limit you're requesting, I'd just keep it reasonable. I'm not sure what your current limit is, but from a relative standpoint asking for more than 2X your limit is usually a lot, where I'd say a 3X CLI proposal would probably be the greatest I'd be willing to stretch... again, dollars need to be considered though. If your current limit is $1k, asking for $3k isn't as crazy as asking for $30k on a current $10k limit.

Re: Capital One CLI questions

HeavenOhio — Wed, 27 Feb 2019 04:44:07 GMT

I'm convinced that none of the questions actually matter. But because you have to play the game, I second BBS's advice to go higher rather than lower.

Last summer, I requested a 3.1k CLI. Capital One offered 3k, which I accepted in full. That didn't surprise me because 3k seems to be Capital One's highest routine increase. Last month, I requested a CLI of 2.5k. Capital One offered 3k. I accepted the 2.5k CLI that I had asked for.

Bottom line… ask for what you want. 3k seems to be their highest routine increase. But we've seen very occasional 5-digit CLIs drop out of the sky.

Accept a counteroffer unless you deem it to be too low. A CLI would make you ineligible for another one for six months. But rejecting a CLI offer will keep you eligible, and you can ask again as soon as you'd like.

For the spending amounts, go high without being unreasonable.

Re: Capital One CLI questions

Anonymous — Wed, 27 Feb 2019 05:29:38 GMT

I agree with HO that the numbers entered in probably don't matter all too much in the grand scheme of things. Your overall profile is going to account for 90% of their decision, so perhaps the numbers you punch in help out that final 10%.

HO, is that $3k routine increase really a thing? Perhaps I bypassed that based on initiating a manual review a couple of years ago. I had a $3000 SL on a Platinum card and did a PC to a Quicksilver not long after. At that time I received two CLIs, both for $500 bringing the CL to $4000. I sat at that CL for a while and couldn't get their online or phone system to work for a CLI request, so I phoned in a manual review. I told the EO that I wanted $10k and I was approved for that amount, so a $6k CLI. I'm guessing it's because I went the MR route that I was able to get a decent increase?

Re: Capital One CLI questions

RickNATL — Wed, 27 Feb 2019 06:00:28 GMT

I am curious as well...did you move forward and if so, any updates to the results or DPs?

Re: Capital One CLI questions

marmaladepie — Wed, 27 Feb 2019 06:55:42 GMT

4 months ago I requested 5k increase and it went into review. A few days later I noticed they gave me an increase of +10k. I was honest about the spend, putting about 10k/month on different cards and wanted to potentially move over to cap1.
I think also, in the 4-5 mo leading up to the increase I was already putting in ~6k month on the card.

Re: Capital One CLI questions

Anonymous — Wed, 27 Feb 2019 14:06:08 GMT

My account is too new to qualify for CLIs, but next month will be the 3 month mark and I’ll update!

Re: Capital One CLI questions

Anonymous — Wed, 27 Feb 2019 14:55:05 GMT

Good advice here - I may have formatted my last couple CLI's wrong as I got turned down flat both times, so I'm going to try it this way next time, which should actually be later this week since I expect my March statement to cut in the next couple of days and made a big payment just the other day. My chief quandary is to figure out how much I can reasonably ask for; I originally started with $10K on my Quicksilver Visa and combined my old (PC'ed) Quicksilver MC into it back last June, about 8 months ago now, for a current total of $16K. I recently got a raise which may help, but I also seem to remember $20K is about as high as Capital One will go before they start asking you for proof of income.

Re: Capital One CLI questions

HeavenOhio — Wed, 27 Feb 2019 16:11:26 GMT

I don't recall Capital One asking for proof of income much at all, and we routinely see CLs over 20k. You're in your best position if you spend a lot and pay in full.

BBS, 3k is about as high as I've rountinely seen in the Approvals forum. I've gotten five 3k CLI offers since Feb 2017; I took 2.5k on one of them. I've also gotten four 1k offers, which I accepted. And I got two $750 offers; on those, I took $700.

To get 3k offers, I spend in the 3k range per month in the three months preceding the CLI. For the lesser offers, I spent quite a bit less.

Re: Capital One CLI questions

Caardvark — Wed, 27 Feb 2019 17:29:08 GMT

How does one go about triggering a manual review? Or, will the dollar amount do that?

My last three CLIs on my Quicksilver have been 3K each (current CLI $10,250). I've been planning on asking for a $20K+ limit when I'm eligible in April and would like to avoid only getting another $3K (if possible).

Another question: Does getting a CLI impact my ability to apply for another card? I'm planning on getting the Savor in May (for the SUB and the 4% on Dining) and don't want to shoot myself in the foot.

Note: I typically spend about $10K a month across all cards and $5K-$6K on the QS (Always PIF).

Re: Capital One CLI questions

Anonymous — Wed, 27 Feb 2019 17:26:11 GMT

@marmaladepie wrote:
4 months ago I requested 5k increase and it went into review. A few days later I noticed they gave me an increase of +10k. I was honest about the spend, putting about 10k/month on different cards and wanted to potentially move over to cap1.
I think also, in the 4-5 mo leading up to the increase I was already putting in ~6k month on the card.

Interesting that you received a CLI of 2X what you requested; That's quite rare. What was your limit prior to the $10k increase? A $6k/mo spend is pretty strong and IMO the #1 reason for your larger than expected CLI.

Re: Capital One CLI questions

Anonymous — Wed, 27 Feb 2019 17:28:54 GMT

@Anonymous wrote:
I originally started with $10K on my Quicksilver Visa and combined my old (PC'ed) Quicksilver MC into it back last June, about 8 months ago now, for a current total of $16K. I recently got a raise which may help, but I also seem to remember $20K is about as high as Capital One will go before they start asking you for proof of income.

What is your typical monthly spend on the card? If it isn't a significant amount of (say) at least $1000-$2000 I'd be cautious about increasing the limit much. One of the most common reported CLDs I hear about on the forum is a > $10k Cap One limit being lowered to exactly $10k. Many have gone from $30k --> $10k and the reason given is always not using enough of your current credit limit.

Re: Capital One CLI questions

Anonymous — Wed, 27 Feb 2019 17:30:22 GMT

@HeavenOhio wrote:

To get 3k offers, I spend in the 3k range per month in the three months preceding the CLI. For the lesser offers, I spent quite a bit less.

Which makes perfect sense. Good to see that Capital One is "smart" with their CLIs (risk vs reward) as opposed to other lenders like Amex and Discover that will throw people $40k-$50k+ limits when you barely use their cards at all!

Re: Capital One CLI questions

HeavenOhio — Wed, 27 Feb 2019 18:02:17 GMT

The CLDs to 10k have happened when people have spent an average of about $100 per month or less over a period of 12 months. Secondary reasons have been low spending on other Capital One cards and low spending on non-Capital One cards.

The CLDs are the reason why I've put some thought into my Capital One limits. I stopped at 16k on my main card. If I feel that more is reasonable, I can always ask whenever. On my other two cards, I'll keep the limits at or below 10k.

Re: Capital One CLI questions

Anonymous — Wed, 27 Feb 2019 18:47:49 GMT

I'm not sure how much my average spend over the first 6 months or so I had my Quicksilver was, but I'm pretty sure it averaged well over $100/month (I remember putting two pairs of SAS shoes on that card among my first purchases; if you're familiar with that brand you know they're pretty pricey). My average spend since then has gone up pretty substantially, something like $700/month since September. I don't think I'd want to raise the card above $20K, to be honest, since I'm aware of the CLD potential if Cap One thinks you've not been using their card enough for a given CL.

Re: Capital One CLI questions

Taurus22 — Wed, 27 Feb 2019 19:18:12 GMT

@Caardvark wrote:

Another question: Does getting a CLI impact my ability to apply for another card? I'm planning on getting the Savor in May (for the SUB and the 4% on Dining) and don't want to shoot myself in the foot.

Caardvark, I had the same question recently and was told that if the CLI is by a different lender, then the lender for the new card won't see that. And this would lower your UT% before you apply for the new card, so it would really only benefit you. If it's the same lender, different card, then they would obviously know....but not sure of the affect it would have.

Just curious, I don't see the Barclay Uber Visa in your sig. Have you considered that versus the CapOne Savor? It also offers 4% on dining, + 3% airfare, + SUB (only $100 vs $500 but the benefits of the card itself might outweigh the bonus).....and there's no AF as you would have with the Savor, which ultimately will offset the bonus over time.

Re: Capital One CLI questions

Anonymous — Wed, 27 Feb 2019 19:45:53 GMT

I don’t know how this works with Capital One, but I can say how it goes with NFCU. I requested and got a CLI of $5k on my card and decided to apply for another card with them same day and was approved for a $10k limit. I’m sure it varies from lender to lender.

Re: Capital One CLI questions

HeavenOhio — Wed, 27 Feb 2019 19:46:01 GMT

Lenders will see your credit limit history on each card for the past 24 months (EQ and EX) and the past 30 months (TU).

Re: Capital One CLI questions

Taurus22 — Wed, 27 Feb 2019 20:16:22 GMT

@HeavenOhio wrote:
Lenders will see your credit limit history on each card for the past 24 months (EQ and EX) and the past 30 months (TU).

Really? See, sometimes there is some wishy-washy info given regarding things like this. I was planning to CLI my Citi and Discover before I apllied for 2 new cards in May, as well, (like the OP) simply to lower my UT% before I apply. Now I may have to leave those alone until after the apps.

Re: Capital One CLI questions

Anonymous — Wed, 27 Feb 2019 20:20:35 GMT

I didn’t know that was included historical data either. It’s not shown on my annual credit reports, just the current limit and the highest balance.