topic Re: How much should I request for Capital One Platinum CLI? in Credit Cards

How much should I request for Capital One Platinum CLI?

Anonymous — Wed, 26 May 2021 20:27:48 GMT

Hey everyone,

New to this fourm glad to be here!

I started my credit in Dec 2019 after waiting a long time to get a credit card.

I have worked my credit up and made on time payments everytime.

I just recentally paid off all my credit I owed about $1000, and now owe nothing. I'm sitting at a 694 transunion, but its expected to go to

734 once these payment update on my report.

So one thing I've been confused about is I've had my Capital One Platinum card sense Dec 2019 when I started and have only been inceased to a 500 limit 4 months after getting the card. So right now I'm a little over a year without recieving a increase and think I need to request one because all I have right now is 2 store cards besides this regular card and 500 isnt cutting it anymore.

So with all of that said my main question is how much should I put in the request form under "Maximum Desired Line" and how much should I put under the "How much will you spend each month on this credit card?" section? I was thinking to put $10k for maxium desired and $1-2k for amount spend each month. Also it does ask for "Monthly Mortgage or Rent Payment" but I dont currently pay either, so I'm guessing ill keep this as $0?

Last thing I was wondering is should I wait for my credit score to update to 700-735 before putting in the request or should I be good to do it now with my 694 trans/701 equi score?

Thanks for the help everyone, I'm really excited to raise my limit and work to get new cards

Re: How much should I request for Capital One Platinum CLI?

SirMilo — Wed, 26 May 2021 20:43:38 GMT

Welcome to myFICO @Anonymous .

I would say shoot for the moon on a CLI request with Capital One. I honestly wish you the best of luck but don't be disappointed if you get a low CLI or none at all.

My scores are around 800 and I've had a total of a single CLI granted for $250 on the Platinum that i've had since 2006. You have nothing to lose by going big on your request. I have finally abandoned asking and only keep it active since it adds 15 years of account age. Let us know how it plays out.

Re: How much should I request for Capital One Platinum CLI?

Horseshoez — Wed, 26 May 2021 20:46:50 GMT

Keep in mind, CapOne is very conservative when it comes to CLIs; said another way, what you ask for and what you get are probably going to be very different unless you ask for a CLI of only $100 (which is most likely what you'll get regardless of your ask).

As an example, I opened up a CapOne Quicksilver in December 2020; my initial line of credit was $3,000, and to be quite honest, I was happy with that. Early this month, just for kicks and giggles, I asked for a CLI; I updated my income as I'd recently accepted a new job which comes with an increase in salary of nearly 60% and asked for a CLI of another $3,000; I got $300. I know lots of folks here would be disgusted with such a tiny amount, but personally I don't care, I rather doubt I'll ever get anywhere near the limit as I pay the card in full every month, and I spread my charges across my three cards (the other two have significantly higher limits).

With the above said, if you really want a higher credit limit, and based upon what you wrote it could come in handy, I recommend you apply for a different card from CapOne. I did this last year and went from a "bucketed" Platinum card (since closed) with a very low limit to the aforementioned Quicksilver card. Given your eighteen month history with them, my guess is you might land a card with a starting limit of about $5,000.

Re: How much should I request for Capital One Platinum CLI?

Anonymous — Wed, 26 May 2021 21:04:07 GMT

It really doesn't matter what amount you request so if you'd like an extra $1000+ then go for it. However, I will caution to temper your expectations because if this card is bucketed, and it very well might be since it sounds like you were in credit steps, then the odds of Cap One ever offering a substantial increase for it are slim.

2nd Edit: If interested in a new card I would suggest figuring out what your major spend categories are and determine what cards would be most beneficial for you. If its a card Cap One has then great, if not then you can start to narrow down an application strategy.

Re: How much should I request for Capital One Platinum CLI?

Ficoproblems247 — Wed, 26 May 2021 21:34:05 GMT

I agree with what the other wise members have already stated as far as what to use for amounts, as well as having very tempered expectations regarding CLIs with them. Capital One does quarterly account reviews via SP. When requesting a CLI they will go off of whatever snapshot of your profile that they used during their last AR. This means that what they use for your CLI decision may be up to 3 months old. It's fantastic you lowered your utilization, however it will likely have no bearing on your CLI attempt unless they SP your reports during that specific timeframe. It sounds like you have a great start to your credit build. Have you been doing research on other lenders to see what other cards are out there that would better fit your spend? With a year and a half of history and a clean profile, you should have a considerable amount of doors open to you. While Capital One is a wonderful lender to build with, there are most certainly bigger fish to fry out there in the sea of credit products.

Re: How much should I request for Capital One Platinum CLI?

Mr_Mojo_Risin — Wed, 26 May 2021 22:16:28 GMT

@Anonymous wrote:
Hey everyone,

New to this fourm glad to be here!

I started my credit in Dec 2019 after waiting a long time to get a credit card.
I have worked my credit up and made on time payments everytime.

I just recentally paid off all my credit I owed about $1000, and now owe nothing. I'm sitting at a 694 transunion, but its expected to go to
734 once these payment update on my report.

So one thing I've been confused about is I've had my Capital One Platinum card sense Dec 2019 when I started and have only been inceased to a 500 limit 4 months after getting the card. So right now I'm a little over a year without recieving a increase and think I need to request one because all I have right now is 2 store cards besides this regular card and 500 isnt cutting it anymore.

So with all of that said my main question is how much should I put in the request form under "Maximum Desired Line" and how much should I put under the "How much will you spend each month on this credit card?" section? I was thinking to put $10k for maxium desired and $1-2k for amount spend each month. Also it does ask for "Monthly Mortgage or Rent Payment" but I dont currently pay either, so I'm guessing ill keep this as $0?

Last thing I was wondering is should I wait for my credit score to update to 700-735 before putting in the request or should I be good to do it now with my 694 trans/701 equi score?

Thanks for the help everyone, I'm really excited to raise my limit and work to get new cards

You've been given great advice regarding the CLI.

Something else you can check for is an upgrade on your Platinum.

After 100 days, myself and many others here were able to upgrade our Platinum cards to the Quicksilver with no AF.

Check the search bar here for the link.

I don't know how to add links 😅

Good luck!

Re: How much should I request for Capital One Platinum CLI?

Anonymous — Thu, 27 May 2021 00:35:20 GMT

@Anonymous wrote:
Hey everyone,

New to this fourm glad to be here!

I started my credit in Dec 2019 after waiting a long time to get a credit card.
I have worked my credit up and made on time payments everytime.

I just recentally paid off all my credit I owed about $1000, and now owe nothing. I'm sitting at a 694 transunion, but its expected to go to
734 once these payment update on my report.

So one thing I've been confused about is I've had my Capital One Platinum card sense Dec 2019 when I started and have only been inceased to a 500 limit 4 months after getting the card. So right now I'm a little over a year without recieving a increase and think I need to request one because all I have right now is 2 store cards besides this regular card and 500 isnt cutting it anymore.

So with all of that said my main question is how much should I put in the request form under "Maximum Desired Line" and how much should I put under the "How much will you spend each month on this credit card?" section? I was thinking to put $10k for maxium desired and $1-2k for amount spend each month. Also it does ask for "Monthly Mortgage or Rent Payment" but I dont currently pay either, so I'm guessing ill keep this as $0?

Last thing I was wondering is should I wait for my credit score to update to 700-735 before putting in the request or should I be good to do it now with my 694 trans/701 equi score?

Thanks for the help everyone, I'm really excited to raise my limit and work to get new cards

Shoot for the moon but expect very very little. You'll be lucky to get another $2000 with these guys. They nickel and dime you for CLI

Re: How much should I request for Capital One Platinum CLI?

micvite — Thu, 27 May 2021 09:30:29 GMT

@Mr_Mojo_Risin wrote:
@Anonymous wrote:
Hey everyone,

New to this fourm glad to be here!

I started my credit in Dec 2019 after waiting a long time to get a credit card.
I have worked my credit up and made on time payments everytime.

I just recentally paid off all my credit I owed about $1000, and now owe nothing. I'm sitting at a 694 transunion, but its expected to go to
734 once these payment update on my report.

So one thing I've been confused about is I've had my Capital One Platinum card sense Dec 2019 when I started and have only been inceased to a 500 limit 4 months after getting the card. So right now I'm a little over a year without recieving a increase and think I need to request one because all I have right now is 2 store cards besides this regular card and 500 isnt cutting it anymore.

So with all of that said my main question is how much should I put in the request form under "Maximum Desired Line" and how much should I put under the "How much will you spend each month on this credit card?" section? I was thinking to put $10k for maxium desired and $1-2k for amount spend each month. Also it does ask for "Monthly Mortgage or Rent Payment" but I dont currently pay either, so I'm guessing ill keep this as $0?

Last thing I was wondering is should I wait for my credit score to update to 700-735 before putting in the request or should I be good to do it now with my 694 trans/701 equi score?

Thanks for the help everyone, I'm really excited to raise my limit and work to get new cards

You've been given great advice regarding the CLI.
Something else you can check for is an upgrade on your Platinum.
After 100 days, myself and many others here were able to upgrade our Platinum cards to the Quicksilver with no AF.
Check the search bar here for the link.
I don't know how to add links 😅
Good luck!

So a question I've been wondering, but if you product change, does that take you "out of the bucket" aka does that reevaluate which category of ABS they put you in or does it stay with whatever the initial one was?

Re: How much should I request for Capital One Platinum CLI?

jcooks — Thu, 27 May 2021 12:19:40 GMT

Product changes can get the card out of the bucketed category. The only issue with going that route, most bucketed cards have low limits and PC'ing into a non-bucketed card won't automatically give you a CLI. You still have to request it. I think with CapOne, the PC should only be used to get away from an AF. Otherwise, just app to a new card either with CapOne or a different lender all together. CapOne has been very valuable to me and many other in credit rebuilding. But at a certain point, CapOne rebuilder cards have to either be let go or just sock drawered.

Re: How much should I request for Capital One Platinum CLI?

micvite — Thu, 27 May 2021 14:58:10 GMT

@jcooks wrote:
Product changes can get the card out of the bucketed category. The only issue with going that route, most bucketed cards have low limits and PC'ing into a non-bucketed card won't automatically give you a CLI. You still have to request it. I think with CapOne, the PC should only be used to get away from an AF. Otherwise, just app to a new card either with CapOne or a different lender all together. CapOne has been very valuable to me and many other in credit rebuilding. But at a certain point, CapOne rebuilder cards have to either be let go or just sock drawered.

Yeah, makes sense... honestly my luck with CLIs has been when I was near maxing out the card for statements in a row, paying interest, or even OVER my CL, and magically got auto CLI... same with my friends and mom, and they've gotten massive CLIs just for having 80-90% util on the card constantly(not PIF, carry the balance) my amex did this, from 300-500 then from 500-1k the next month. And any CLI from discover was the same, fairly high usage carried for months at a time. As soon as I started PIF nothing lol

Re: How much should I request for Capital One Platinum CLI?

OmarGB9 — Thu, 27 May 2021 22:33:58 GMT

@jcooks wrote:
Product changes can get the card out of the bucketed category. The only issue with going that route, most bucketed cards have low limits and PC'ing into a non-bucketed card won't automatically give you a CLI. You still have to request it. I think with CapOne, the PC should only be used to get away from an AF. Otherwise, just app to a new card either with CapOne or a different lender all together. CapOne has been very valuable to me and many other in credit rebuilding. But at a certain point, CapOne rebuilder cards have to either be let go or just sock drawered.

I disagree, a lot of bucketed cards seem to stay in that bucket regardless of PCing or upgrading. That's why members usually suggest to just open a new card because the old card seems to reflect the weaker profile of the individual at the time of application indefinitely regardless of progress made towards a stronger profile.

Re: How much should I request for Capital One Platinum CLI?

Remedios — Thu, 27 May 2021 23:15:59 GMT

PC doesn't change ABS placement (tranche), it's just adding lipstick to the same animal.

Re: How much should I request for Capital One Platinum CLI?

HeavenOhio — Fri, 28 May 2021 01:44:55 GMT

@Anonymous, welcome to the forum.

I don't think the amount you request makes a lot of difference. I recall being offered a 3k increase after having requested something less than that.

As mentioned, the bad news in this case is that Capital One cards with limits below 1k tend to stay there. But the good news is that now that you've built up a positive history with them, you're likely positioned for a decent approval on a new card. A Quicksilver or SavorOne could be a good fit for you.

Also, check for upgrade offers on your current card. Even though your limit might not grow, chances are still excellent that this card can be upgraded to a product that earns rewards.

If you opt to apply for a Quicksilver and it turns out that you can upgrade the Platinum to Quicksilver, don't worry about having two of that card. It's better than a Quicksilver/VentureOne combo, for instance.

Re: How much should I request for Capital One Platinum CLI?

Anonymous — Sun, 30 May 2021 21:41:15 GMT

Thank you so much everyone!! You all are amazing for this helps me out so much all this advice

Appreciate everyone telling me I'm doing good with building my credit up Im excited to keep it going and keep working on getting new good cards.

I want to reply to all of you bit their isnt a quote option so I'll do 1 big reply,

First I'd like to say I never knew about the term "bucketed" card. That helps alot! So I guess pretty much the card will never grow on its own because it was thrown in a bucket with all the other same cards.

I will for sure keep my expectations low with the amount they give me for the CLI with this current card

My plan I think will be to upgrade my Premium to a quicksilver card, I went to the product page link and it lets me upgrade! Then after that I will sumbit a CLI.

After that when my credit updates to about 730's with my paying off everything I will apply for a new card eventually. I'm thinking of getting a Amazon card and one regular reward type card.

Does anyone have a suggestion of what card I should go for next when I'm in the 730-740 range?

Also one last question I had was my TransUnion on Credit Karma shows I have 4 hard inquires, but my Equifax on their shows I have only 1 total. 1 of the TransUnion one should fall off in December later this year.

Do you all think it will be bad for me to go over the 4 Inquire amount on TransUnion once my score hits 730-740? Credit Karma shows 5-8 as the orange level of impact so I've been trying not to go over 4.

Thanks again everyone!

Re: How much should I request for Capital One Platinum CLI?

SweetCreditObsession — Mon, 31 May 2021 18:39:14 GMT

@Anonymous - if you opt to apply for a new card, you'd do well for your scores to update and look at a different lender that will not HP all three CRAs. There's a posting in these forums that list institutions with SPs that are fairly reliable. You might want to check that out because Cap1 has had a poor rep for consistent growth in the last five years or so.

Re: How much should I request for Capital One Platinum CLI?

Horseshoez — Mon, 31 May 2021 19:52:23 GMT

@SweetCreditObsession wrote:
@Anonymous - if you opt to apply for a new card, you'd do well for your scores to update and look at a different lender that will not HP all three CRAs. There's a posting in these forums that list institutions with SPs that are fairly reliable. You might want to check that out because Cap1 has had a poor rep for consistent growth in the last five years or so.

Are you saying there are lenders which will approve a new unsecured credit card with only a Soft Pull?

Re: How much should I request for Capital One Platinum CLI?

FinStar — Wed, 02 Jun 2021 21:51:34 GMT

@Horseshoez wrote:
@SweetCreditObsession wrote:
@Anonymous - if you opt to apply for a new card, you'd do well for your scores to update and look at a different lender that will not HP all three CRAs. There's a posting in these forums that list institutions with SPs that are fairly reliable. You might want to check that out because Cap1 has had a poor rep for consistent growth in the last five years or so.
Are you saying there are lenders which will approve a new unsecured credit card with only a Soft Pull?

Yes, they exist. Some include Comenity store-branded and V/MC-partner cards -- outcomes will vary but there's a mega thread with plenty of DPs. Also, BB&T still has their pre-approval portal for which cards can be obtained via SP -- this might change once all Truist lending platforms are fully transitioned but for now it's BAU until that happens. Just some examples.

Re: How much should I request for Capital One Platinum CLI?

Horseshoez — Wed, 02 Jun 2021 22:02:09 GMT

@FinStar wrote:
@Horseshoez wrote:
@SweetCreditObsession wrote:
@Anonymous - if you opt to apply for a new card, you'd do well for your scores to update and look at a different lender that will not HP all three CRAs. There's a posting in these forums that list institutions with SPs that are fairly reliable. You might want to check that out because Cap1 has had a poor rep for consistent growth in the last five years or so.
Are you saying there are lenders which will approve a new unsecured credit card with only a Soft Pull?
Yes, they exist. Some include Comenity store-branded and V/MC-partner cards -- outcomes will vary but there's a mega thread with plenty of DPs. Also, BB&T still has their pre-approval portal for which cards can be obtained via SP -- this might change once all Truist lending platforms are fully transitioned but for now it's BAU until that happens. Just some examples.

Thanks for the feedback, I'll take a hard pass on the Comenity/Synchronys of the world, and, so far at least, I've never considered any of BB&T products.

Re: How much should I request for Capital One Platinum CLI?

coldfusion — Wed, 02 Jun 2021 22:09:06 GMT

@Horseshoez wrote:
Thanks for the feedback, I'll take a hard pass on the Comenity/Synchronys of the world, and, so far at least, I've never considered any of BB&T products.

You and I are both out of BB&Ts footprint.

Re: How much should I request for Capital One Platinum CLI?

Webspry — Thu, 03 Jun 2021 01:24:31 GMT

call and ask if they'll do soft or hard pull for a CL request. If a hard pull I'd decline and go over to Discover and apply for a new card. Like another on here stated, I've had a Capone card for over 12 years and personally found them to be unfriendly regarding CLI and I've got a 760 average score and over 100k in available credit. After 12 years CapOne increased my CL from 6000 to 12k.