topic Re: Getting A Cap One Credit Limit Increase? in Credit Cards

Getting A Cap One Credit Limit Increase?

Anonymous — Mon, 07 Oct 2019 05:49:52 GMT

Hi!
I have 2 Cap One cards. I've had my Platinum for 2 years with a current CL of $1800. It currently has a 50% utilization. I would like to ask for a CLI on that card, my last increase for that card was January 2019.

My question is: When asking for a CLI, does utilization matter? Should I pay it down to under 30% before asking? Should it be 0%? Do they even care?

Thanks!

Re: Getting A Cap One Credit Limit Increase?

AllZero — Mon, 07 Oct 2019 06:06:12 GMT

CLI intervals are every 6 months.

I'm not sure of utilization % before requesting CLI.

Re: Getting A Cap One Credit Limit Increase?

HeavenOhio — Mon, 07 Oct 2019 14:33:52 GMT

Capital One doesn't care a lot about utilization if you're paying in full every month.

Re: Getting A Cap One Credit Limit Increase?

soxfaininfl — Mon, 07 Oct 2019 14:37:10 GMT

Does Cap1 do a HP or a SP for CLI’s? I have a Cap1 QS1 card.

Re: Getting A Cap One Credit Limit Increase?

Anonymous — Mon, 07 Oct 2019 14:42:36 GMT

I've asked for several CLIs over the past couple of years on my Cap1 cards (button only, I've never called). It's never been a hard pull.

Re: Getting A Cap One Credit Limit Increase?

HeavenOhio — Mon, 07 Oct 2019 14:43:19 GMT

It's soft pulls.

There's really no harm in asking because if you're declined, there's no minimum wait period to request again. If you accept an offer, there's a wait period of six months before you can ask again. If you receive an offer that you think is insufficient, you can decline it without kicking in the wait period.

Re: Getting A Cap One Credit Limit Increase?

soxfaininfl — Mon, 07 Oct 2019 14:50:02 GMT

@HeavenOhio wrote:
It's soft pulls.

There's really no harm in asking because if you're declined, there's no minimum wait period to request again. If you accept an offer, there's a wait period of six months before you can ask again. If you receive an offer that you think is insufficient, you can decline it without kicking in the wait period.

Thank you, HeavenOhio!

Re: Getting A Cap One Credit Limit Increase?

SoCalifornia — Mon, 07 Oct 2019 18:13:00 GMT

Re: Getting A Cap One Credit Limit Increase?

Anonymous — Mon, 07 Oct 2019 23:57:17 GMT

A couple of weeks ago I went online for a CLI. Never got an official yea/nea but I'm taking it as a no.

I was asked questions online when requesting. You can be sure these are important items:

How much do you plan to spend each month on the card after the CLI.

How much do you spend each month using CCs on all your accounts.

Do you typically pay the minimum on your accounts or much more than the minimum.

Re: Getting A Cap One Credit Limit Increase?

HeavenOhio — Mon, 07 Oct 2019 23:59:50 GMT

@Anonymous, look at the secure messages within your Capital One account. Chances are that something's in there.

Re: Getting A Cap One Credit Limit Increase?

Anonymous — Tue, 08 Oct 2019 00:13:30 GMT

@HeavenOhio wrote:
@Anonymous, look at the secure messages within your Capital One account. Chances are that something's in there.

I looked but couldn't find it before. I finally found it under "I want to..."

Denied. Reason: Recent use of this account's existing credit line has been too low.

Thank you @HeavenOhio.

Re: Getting A Cap One Credit Limit Increase?

Aim_High — Tue, 08 Oct 2019 00:50:00 GMT

@Anonymous wrote:
@HeavenOhio wrote:
@Anonymous, look at the secure messages within your Capital One account. Chances are that something's in there.
I looked but couldn't find it before. I finally found it under "I want to..."
Denied. Reason: Recent use of this account's existing credit line has been too low.

Very common with Capital One. They like to see three months of regular use (I think more swipes versus usage of credit limit) to approve increases. If you SD your card, it will never grow with them.

Re: Getting A Cap One Credit Limit Increase?

Anonymous — Tue, 08 Oct 2019 00:59:18 GMT

@Aim_High wrote:
@Anonymous wrote:
@HeavenOhio wrote:
@Anonymous, look at the secure messages within your Capital One account. Chances are that something's in there.
I looked but couldn't find it before. I finally found it under "I want to..."
Denied. Reason: Recent use of this account's existing credit line has been too low.
Very common with Capital One. They like to see three months of regular use (I think more swipes versus usage of credit limit) to approve increases. If you SD your card, it will never grow with them.

It got use, but down around $150/mo for the last 3 months. Normally around $700/mo, but I was using my DISCOVER card for restaurants at 5% over the 4% on Savor for the 3rd quarter.

I even use them at vending machines and for other small transactions.

Re: Getting A Cap One Credit Limit Increase?

Anonymous — Tue, 08 Oct 2019 13:37:13 GMT

From my experience, Capital One has always given me CLIs when I have had a high utilization on the cards...and when I keep the utilization at 0% I don't seem to get much of anything from them. They love when I keep a big balance and heavy spend.

Re: Getting A Cap One Credit Limit Increase?

SoCalifornia — Tue, 08 Oct 2019 13:44:42 GMT

@Anonymous wrote:
From my experience, Capital One has always given me CLIs when I have had a high utilization on the cards...and when I keep the utilization at 0% I don't seem to get much of anything from them. They love when I keep a big balance and heavy spend.

CapOne loves swipes. Like many lenders, they get all gushy if they feel like your one and only. I believe the utilization is just coincidence, as it's usage they want. But if they can manage to grab interest from you as well, it's win-win for them.

Re: Getting A Cap One Credit Limit Increase?

Anonymous — Tue, 08 Oct 2019 21:54:45 GMT

So if I charge 30 candy bars a month without much else, they'd be more inclined to give a CLI?

Re: Getting A Cap One Credit Limit Increase?

FinStar — Tue, 08 Oct 2019 22:07:35 GMT

@Anonymous wrote:
So if I charge 30 candy bars a month without much else, they'd be more inclined to give a CLI?

Doubtful. If their internal criteria or logic evaluates you have sufficient available credit and don't use a great portion of that fairly often, 30 separate swipes isn't gonna cut it. But, it's almost Halloween so give it a try. Maybe if you buy $15K worth of candy?

Re: Getting A Cap One Credit Limit Increase?

SoCalifornia — Tue, 08 Oct 2019 22:10:13 GMT

@Anonymous wrote:
So if I charge 30 candy bars a month without much else, they'd be more inclined to give a CLI?

You're the one with the 27.5k CL with CapOne- was it candy bars? Beta test it, I axed the Cap since time ago.

Re: Getting A Cap One Credit Limit Increase?

Anonymous — Tue, 08 Oct 2019 22:14:49 GMT

@SoCalifornia wrote:
@Anonymous wrote:
So if I charge 30 candy bars a month without much else, they'd be more inclined to give a CLI?
You're the one with the 27.5k CL with CapOne- was it candy bars? Beta test it, I axed the Cap since time ago.

Nah, I'll keep them. I got 4% dining and entertainment without the AF. Still very lucrative for me.

Re: Getting A Cap One Credit Limit Increase?

Aim_High — Wed, 09 Oct 2019 01:28:43 GMT

@SoCalifornia wrote:
@Anonymous wrote:
So if I charge 30 candy bars a month without much else, they'd be more inclined to give a CLI?
You're the one with the 27.5k CL with CapOne- was it candy bars? Beta test it, I axed the Cap since time ago.

Some people may disagree but I still firmly believe that most larger lenders have different levels (or tiers) of cards and the same consumer with same profile will get a higher SL, Larger CLI, and larger total limit on some cards more than others. Capital One’s Premium cards are Venture and Savor, so it’s rare to see QS limits as high as Venture/Savor without a lot more time and work, if at all. Just my observations.