topic Re: Cap1 Strategy and Habits for that big CLI! in Credit Cards

Cap1 Strategy and Habits for that big CLI!

Hut1 — Mon, 16 Sep 2019 02:23:47 GMT

Happy Thursday!

My new Cap1 QS card will be arriving shortly in the mail and I've been cruising this board every day since I joined for all posts related to Cap1. I'm looking for specific advice on how to use my CC to Cap1's liking in order to get a CLI. I'm trying to put all of the advice into one place in case anyone else needs the same info. (Keep in mind, this is not for the "steps" cards which give an automatic CLI after 5 on-time payments)

Here's what I have so far.

Use the card (heavily) or else be denied for a CLI for low usage.. Cap1 likes to see numeous swipes no matter what % of UTI is.
PIF before statement cuts or directly after.. Cap1 likes to see PIF behavior. Try not to carry a balance.
Payment due date is cut off at 8pm to post same day.
You can apply for a CLI evey 6 mos.

Any other advice or experience with this lender is appreciated!

Re: Cap1 Strategy and Habits for that big CLI!

AverageJoesCredit — Fri, 13 Sep 2019 01:10:00 GMT

Heavy use or bust

Re: Cap1 Strategy and Habits for that big CLI!

Hut1 — Fri, 13 Sep 2019 01:16:20 GMT

@AverageJoesCredit wrote:
Heavy use or bust

ha! OP updated.

Re: Cap1 Strategy and Habits for that big CLI!

FireMedic1 — Fri, 13 Sep 2019 12:26:49 GMT

Simple. Use the blank out of it. The more you swipe. More $ they make. More you get. (Other factors invovled like your reports)

Re: Cap1 Strategy and Habits for that big CLI!

HeavenOhio — Fri, 13 Sep 2019 14:46:12 GMT

@Hut1 wrote:
Here's what I have so far.
PIF before statement cuts does not work for this lender.. let a small balance post of 8.9% UTI or less, then PIF.

Capital One isn't bothered by statement balances of zero. They like pay-in-full behavior rather than revolving a balance. You may wait until as late as the due date or pay as soon as a couple of charges post. Do what's comfortable for you.

Re: Cap1 Strategy and Habits for that big CLI!

Anonymous — Fri, 13 Sep 2019 21:01:01 GMT

I only let a balance report once in the 9 months that I've had my (started as Platinum, upgraded to a QS), high use some months, low use others, (and it was a "steps card), and I just received an auto Cli of $2500. I only have the one Capital One MC, but I do have a Capital One Kohls card.

Capital One is one of those lenders that YMMV big time!

Re: Cap1 Strategy and Habits for that big CLI!

Aim_High — Fri, 13 Sep 2019 21:06:26 GMT

@Hut1 wrote:
I'm looking for specific advice on how to use my CC to Cap1's liking in order to get a CLI.
Any other advice or experience with this lender is appreciated!

Welcome! The QS is a very good card.

I like how you can redeem cash-back as a statement credit as soon as charges post on the web.

Good fraud detection. Good app and web interface.

As to CLIs: Capital One likes to see heavy use of your existing credit line. It doesn't have to be 90% of it, or even 50% or 30%, I don't believe. But if you haven't been swiping the card regularly, you will likely be denied. When I have done short-term sock-drawer of my QS card, I have learned I need to be using it often for a minimum of about 3 months prior to requesting a CLI.

Pay when you like, as others have said. Before or after statement cut. But definitely pay on time or early.

Don't expect the moon with increases. They are very conservative about SL and CLIs but they will move over time with patience and if you don't give up on them.

There is NOBODY you can talk to or appeal to about CLIs. It's all automated, which can be a little annoying. Just go with that process and don't expect human intervention like you might get with another lender.

You can apply once every six months, so mark your calender when you apply so you'll know when you're next eligible.

If your SL is $5K, I'd expect $1K to $3K increases at a time from that starting point.

Re: Cap1 Strategy and Habits for that big CLI!

Hut1 — Mon, 16 Sep 2019 02:31:06 GMT

@Aim_High wrote:
@Hut1 wrote:
I'm looking for specific advice on how to use my CC to Cap1's liking in order to get a CLI.
Any other advice or experience with this lender is appreciated!
Welcome! The QS is a very good card.
I like how you can redeem cash-back as a statement credit as soon as charges post on the web.
Good fraud detection. Good app and web interface.

As to CLIs: Capital One likes to see heavy use of your existing credit line. It doesn't have to be 90% of it, or even 50% or 30%, I don't believe. But if you haven't been swiping the card regularly, you will likely be denied. When I have done short-term sock-drawer of my QS card, I have learned I need to be using it often for a minimum of about 3 months prior to requesting a CLI.

Pay when you like, as others have said. Before or after statement cut. But definitely pay on time or early.

Don't expect the moon with increases. They are very conservative about SL and CLIs but they will move over time with patience and if you don't give up on them.

There is NOBODY you can talk to or appeal to about CLIs. It's all automated, which can be a little annoying. Just go with that process and don't expect human intervention like you might get with another lender.

You can apply once every six months, so mark your calender when you apply so you'll know when you're next eligible.

If your SL is $5K, I'd expect $1K to $3K increases at a time from that starting point.

Thanks Aim! This info is vey helpful for us who are new to Cap1. I'll definitely be reporting back in 6 mos on if the advice helps. I don't expect any negative behaviors or additional HI to impact my credit profile, so hopefully, it will purely be based off of my usage behavior.

Re: Cap1 Strategy and Habits for that big CLI!

Hut1 — Mon, 16 Sep 2019 02:34:38 GMT

@Anonymous wrote:
I only let a balance report once in the 9 months that I've had my (started as Platinum, upgraded to a QS), high use some months, low use others, (and it was a "steps card), and I just received an auto Cli of $2500. I only have the one Capital One MC, but I do have a Capital One Kohls card.

Capital One is one of those lenders that YMMV big time!

Thanks for the info, Kathy! I've read that the "steps" cards from Cap1 get the auto CLI after 5 mos of on-time payments no matter if a balance is posted or not. It would be nice if I didn't have to apply for a CLI. I'll probably forget to do it at the 6 mo. mark. Lol.

Re: Cap1 Strategy and Habits for that big CLI!

Anonymous — Mon, 16 Sep 2019 09:46:27 GMT

Just a FYI... I had already received the "steps" auto cli after having the card for 5 months.

The $2500 auto cli came 3 months AFTER the "steps" increase.

Re: Cap1 Strategy and Habits for that big CLI!

Anonymous — Mon, 16 Sep 2019 14:18:38 GMT

Applying for a CLI every 6 months is only true if you actually get an increase. If you're denied for a CLI, you can ask again anytime. But if you ask and are approved for an increase, you must wait 180 days before asking again. I'm not sure how it works with an auto increase though.

Re: Cap1 Strategy and Habits for that big CLI!

Aim_High — Tue, 17 Sep 2019 06:01:06 GMT

@Anonymous wrote:
Applying for a CLI every 6 months is only true if you actually get an increase. If you're denied for a CLI, you can ask again anytime. But if you ask and are approved for an increase, you must wait 180 days before asking again. I'm not sure how it works with an auto increase though.

Very true, I've asked a little early and been denied.

Then asked again right after the 180-days had passed and been approved.

So asking early won't help but won't restart your clock.

I don't know about auto increases.

Capital One never gave me one, IIRC.

Re: Cap1 Strategy and Habits for that big CLI!

gorgon — Tue, 17 Sep 2019 17:41:20 GMT

@Hut1 wrote:
Here's what I have so far.
Use the card (heavily) or else be denied for a CLI for low usage.. Cap1 likes to see numeous swipes no matter what % of UTI is. I used my Cap1 Platinum card with a $3k SL like a debit card while it was in the introductory 0% APR period
PIF before statement cuts or directly after.. Cap1 likes to see PIF behavior. Try not to carry a balance. The MAX balance I ever had on the card was ~$1,000 and I carried a balance of $200 to $500 month to month during the whole introductory APR period (Sept. to June.) I did a PIF in June to avoid any trailing interest and didn't start using it again until the July statement cut at $0.
Payment due date is cut off at 8pm to post same day. Made multiple payments throughout the month.
You can apply for a CLI evey 6 mos. PC'd to a Quicksilver at month 3, and since the $500 Credit Steps CLI happened at month 6, I had to wait until the 12th statement cut to request a CLI. They gave me another $3k. Limit is now $6,500

Re: Cap1 Strategy and Habits for that big CLI!

Duke_Nukem — Thu, 19 Sep 2019 15:02:52 GMT

@Anonymous wrote:
Applying for a CLI every 6 months is only true if you actually get an increase. If you're denied for a CLI, you can ask again anytime. But if you ask and are approved for an increase, you must wait 180 days before asking again. I'm not sure how it works with an auto increase though.

My experience also, you can ask any time you like if you were previously denied a CLI. Once you get a CLI, you must wait 180 days before being approved for another.

I received an auto CLI of $3000 last year, and I wasn't able to be approved for a manual CLI until that 6 month window expired. So auto CLI falls into the same boat as the manual.

If you want a product change (PC), you must also wait 6 months from your prior PC. I'm not certain, but I believe you are still eligible for a CLI during that 6 month waiting period after a PC.