topic Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis? in Credit Cards

Those with cap one(preferably those with a savor one) what has been your experience with CLis?

SRT4kid93 — Fri, 16 Aug 2024 17:38:04 GMT

I just joined the capital one family and I got their savor one card.

for those with a savor one, or other middle/high tier capital one cards, what was your experience like in regards to credit limit Increases? Specific questions below:

-what was your starting limit, and credit score?

- how long did you have the account before being granted your first increase?

- about how long did you wait in between increases after getting your first 1?

-what were the amounts of your average increases?

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

pizzadude — Fri, 16 Aug 2024 17:38:37 GMT

Moving to Credit Cards

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

ptatohed — Fri, 16 Aug 2024 17:53:13 GMT

I actually can't answer any of those questions because, unlike the vast majority of the members here, I have no interest in Credit Line or Credit Line Increases. I'm typically given more CL than I'll ever need and that's good enough for me. But if it helps, my CL is $20,000 on my S1.

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

IsambardPrince — Fri, 16 Aug 2024 20:58:51 GMT

@SRT4kid93 wrote:
I just joined the capital one family and I got their savor one card.

for those with a savor one, or other middle/high tier capital one cards, what was your experience like in regards to credit limit Increases? Specific questions below:

-what was your starting limit, and credit score?

- how long did you have the account before being granted your first increase?

- about how long did you wait in between increases after getting your first 1?

-what were the amounts of your average increases?

There is no one answer to this. With Capital One it depends on some things about you and some things about how they operate in general and what their take on the economy is.

Charge offs are going way up right now, delinquencies are way up. In some states, like Colorado, bankruptcies have been up by about 30-50% year over year on a monthly basis since April.

Then there's the you things. What was your credit profile like when they issued the card? Capital One never considers how you may have improved since then, you would have to open a new account if your credit profile has gotten better to the point they would issue one that's under more favorable terms or more likely to grow significantly.

And income matters of course, as well as whether they think you would use the credit line if they gave it to you. Otherwise, giving you a massive increase represents risk without benefit to the bank.

Think about it from their perspective. If you can only give credit line increases to so many people, do you give them to people who are going to make money for your bank, or do you give them to people who sock drawer the card but remember that they have a huge credit limit if they get into trouble later?

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

Anonymous — Fri, 16 Aug 2024 21:30:24 GMT

@IsambardPrince wrote:
@SRT4kid93 wrote:
I just joined the capital one family and I got their savor one card.

for those with a savor one, or other middle/high tier capital one cards, what was your experience like in regards to credit limit Increases? Specific questions below:

-what was your starting limit, and credit score?

- how long did you have the account before being granted your first increase?

- about how long did you wait in between increases after getting your first 1?

-what were the amounts of your average increases?
There is no one answer to this.

Yes, there is one answer to this since he asked for 4 specific data points from individual peoples personal experiances that chose to answer them.

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

azgal — Fri, 16 Aug 2024 23:52:11 GMT

I was approved for the Cap 1 Savor One with a $500 limit. My credit score at that time across all bureaus was between 575-580.

Three months after opening, I requested and was given a CLI of $100. My credit scores were about the same at that time.

I have requested CLIs every 3 months, and my credit scores are now in the low to mid 700s, but Cap 1 hasn't budged. I have had the card for 2 years.

I was able to boost the limit by transfering part of a credit line from a Cap 1 Quicksilver, so now it's $1400. Hope these data points help!

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

burrissa — Sat, 17 Aug 2024 01:47:29 GMT

Opened S1 last September (2023) two months after BK13 discharge, was approved with a SL 3K, Fico was around 655. My S1 is now a year old and requested a CLI last month and was denied with the reason being I didn't use the the card enough.

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

nytokyobred79 — Sat, 17 Aug 2024 03:10:10 GMT

@SRT4kid93 wrote:
I just joined the capital one family and I got their savor one card.

for those with a savor one, or other middle/high tier capital one cards, what was your experience like in regards to credit limit Increases? Specific questions below:

-what was your starting limit, and credit score?

- how long did you have the account before being granted your first increase?

- about how long did you wait in between increases after getting your first 1?

-what were the amounts of your average increases?

I preface this with YMMV depending on

profile at time of approval but I'll share my Venture Rewards exp. I opened the card in July 2022 on a clean profile( 3 other cards at the time CSR $20K(7 months), Delta Reserve $26K(8 months) and Delta Platinum $6.5K(2.5 years old) . Scores were EX 780, TU 780 and EQ 790 ish. Had 2 inquiries on Ex and none on either TU and EQ at the time. When I apped, I was immediately approved for 10K with the highest APR. I forgot to unfreeze EQ which was my best bureau so I perhaps could have gotten a lower APR. But who knows. I also had an 16 yr loan reporting that had been paid off and my AAoA at the time as probably around 5-6 years. For science, I request a cli after a month and was granted 1K. I was then able to get another cli at 3 months for 4K after meeting SUB spend). From then on, I've gotten cli(s) at 3 month intervals ranging from 1-1.5 K. These have been all self requested.

My scenario is very different from others whether clean or dirty profiles ( although I have seen others get cli's faster than the typical 6 month window).

Hope the dp(s) are helpful.

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

JSUB — Sat, 17 Aug 2024 13:37:32 GMT

@SRT4kid93 wrote:
I just joined the capital one family and I got their savor one card.

for those with a savor one, or other middle/high tier capital one cards, what was your experience like in regards to credit limit Increases? Specific questions below:

-what was your starting limit, and credit score?

- how long did you have the account before being granted your first increase?

- about how long did you wait in between increases after getting your first 1?

-what were the amounts of your average increases?

what was your starting limit, and credit score? I got the Savor One May 1, 2024 for $10K. EQ 705, TU 720, EX 715.

- how long did you have the account before being granted your first increase? I requested and received a CLI right before my third statement cut 7/16.

- about how long did you wait in between increases after getting your first 1? Waiting until 1/2025 to request my 2nd CLI.

-what were the amounts of your average increases? $5K for the first one.

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

Anonymous — Mon, 19 Aug 2024 19:53:58 GMT

@SRT4kid93 wrote:
I just joined the capital one family and I got their savor one card.

@SRT4kid93

What was your starting limit, and credit score?

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

unsungivy — Tue, 20 Aug 2024 00:27:43 GMT

@IsambardPrince wrote:
@SRT4kid93 wrote:
I just joined the capital one family and I got their savor one card.

for those with a savor one, or other middle/high tier capital one cards, what was your experience like in regards to credit limit Increases? Specific questions below:

-what was your starting limit, and credit score?

- how long did you have the account before being granted your first increase?

- about how long did you wait in between increases after getting your first 1?

-what were the amounts of your average increases?
There is no one answer to this.

Seriously? Agree with @Anonymous.

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

SRT4kid93 — Tue, 20 Aug 2024 00:40:54 GMT

@Anonymous

my Fico scores were 768/727/716.

Starting limit was 1500.

i think the 2 biggest things that hurt me were:

- I only had 1 card and it only had a limit of 500. So given that, they weren't going to give me a ton of credit when I have only proven I can handle $500. They wouldn't jump from $500 to 10,000.

- technically my history is short. I am 30 now, and got my first card when I was 18. Then got 2 more at 22 ish. I worked very hard back then to get my credit up. Working at it for years, But eventually I moved out, starting paying rent and having real bills, (at that time I was making $10/hour) and so I had to start putting things on my cards. With little money to pay down the balance. So despite making the payments every month, my util ratio every month was terrible, so my scores went to **bleep**. And at that time, I didn't know that all I had to do was pay down the bills and my scores would shoot right back up, I thought I destroyed years of worth in 2 months and I would have to work another 3 years to get the scores back up again.

so I ended up saying to myself "what's the point? You work for years to get your scores up and 2 months destroys it all? Why am I working so hard to get my scores up, and pay my bill every month, if my scores will go down despite making the payments?

So I ended up getting very discouraged from credit, closed down all 3 cards, and didn't get another credit card until this year. I finally learned how credit cards work, and decided I was in a good enough financial position to make it work.

if I knew what I knew now, I never would have cancelled those cards. I should have taken the time to learn about credit. I wish I would have just asked someone.

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

SRT4kid93 — Tue, 20 Aug 2024 00:46:00 GMT

@Anonymous

Fico scores are 768/726/717. Starting limit of 1500

i think the 2 things that hurt me were

1) only having 1 card with a $500 at time of application, so I hadn't proved I could handle large credit limits and they didn't want to give me too much.

2) technically my history is short. I'm 30 now, I did get my first card at 18, then 2 more at 22. I worked very hard to get my scores up. And I did. But then I moved out and started having bills. I was making min wage and so I ended up putting a lot on my cards, and even tho I was making my payments. My scores plummeted due to high util ratio. At that time, I didn't really know how credit cards worked. When I saw that my scores plummeted I said "what's the point?" I just worked 3 years getting my scores up and they are gone in 2 months. At that time I didn't know they would bounce right back after I paid down the cards. I thought I had ruined my credit that I worked so hard for, so I closed all my cards and didn't get another until this year, when I finally learned how they worked and decided I was in a good financial position for them.

if I knew then what I know now, I could have saved myself.

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

Zoostation1 — Tue, 20 Aug 2024 04:43:49 GMT

I'll agree with the no one size fits. In my experience I was given $3k SL on a dirty profile (BK7 was almost 5yrs old and it was my 3rd card, 10 months after I got back into the world of credit, FICO 8 scores in 660s). For CLIs I had a $300 one after 8 months, and then moved $1200 of CL from a QS to the SavorOne bringing it to $4500 (where it sat until i moved limit from it when I got Savor...long story lol).

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

urbex — Tue, 20 Aug 2024 05:37:33 GMT

Got my Savor 10/2023, SL $10k. Running 740ish scores. Already had a Quicksilver that was opened 11/2015 with CL $6.5K.

Requested a CLI on both cards two days ago. Flat denied on the QS due to not using the card recently. Savor doubled to $20K, so less than a year between getting it and CLI.

Re: Those with cap one(preferably those with a savor one) what has been your experience with CLis?

Remedios — Wed, 21 Aug 2024 18:16:08 GMT

@IsambardPrince wrote:
@SRT4kid93 wrote:
I just joined the capital one family and I got their savor one card.

for those with a savor one, or other middle/high tier capital one cards, what was your experience like in regards to credit limit Increases? Specific questions below:

-what was your starting limit, and credit score?

- how long did you have the account before being granted your first increase?

- about how long did you wait in between increases after getting your first 1?

-what were the amounts of your average increases?
There is no one answer to this. With Capital One it depends on some things about you and some things about how they operate in general and what their take on the economy is.

Charge offs are going way up right now, delinquencies are way up. In some states, like Colorado, bankruptcies have been up by about 30-50% year over year on a monthly basis since April.

Then there's the you things. What was your credit profile like when they issued the card? Capital One never considers how you may have improved since then, you would have to open a new account if your credit profile has gotten better to the point they would issue one that's under more favorable terms or more likely to grow significantly.

And income matters of course, as well as whether they think you would use the credit line if they gave it to you. Otherwise, giving you a massive increase represents risk without benefit to the bank.

Think about it from their perspective. If you can only give credit line increases to so many people, do you give them to people who are going to make money for your bank, or do you give them to people who sock drawer the card but remember that they have a huge credit limit if they get into trouble later?

That's as generic as most acetaminophen

But yeah, I cannot see why you typed most of the things you typed.