topic Re: CapOne CLI Strategy in Credit Cards

CapOne CLI Strategy

BackInTheSaddleAgain — Thu, 10 Oct 2013 19:39:49 GMT

CapOne is currently my oldest card (18 months). They started me off at $500 and then raised me to $1,500 after 6 months. However, no additional love after another year now. I push my $1,500 limit just about every month, but also either pay it off in full, or at the very least down to less than 9% each month. I have no lates or negative reporting on my file the past 5 years. The only issue is I cut my car loan interest rate in half by refinancing my car 2-3 months ago. Kept my payments the same, but cut a 60 mo. term loan down to 36 mo's. As a result, unfortunately, my TU score dropped from 702 to 690. Go figure!

Would like to get a CapOne CLI to $2,000 or even $2,500 if possible. I have good income. Any ideas? Should I call or try the love button? And, would they run a HP or SP?

THANK AGHEAD OF TIME!

Re: CapOne CLI Strategy

Creditaddict — Thu, 10 Oct 2013 19:43:54 GMT

@BackInTheSaddleAgain wrote:
CapOne is currently my oldest card (18 months). They started me off at $500 and then raised me to $1,500 after 6 months. However, no additional love after another year now. I push my $1,500 limit just about every month, but also either pay it off in full, or at the very least down to less than 9% each month. I have no lates or negative reporting on my file the past 5 years. The only issue is I cut my car loan interest rate in half by refinancing my car 2-3 months ago. Kept my payments the same, but cut a 60 mo. term loan down to 36 mo's. As a result, unfortunately, my TU score dropped from 702 to 690. Go figure!

Would like to get a CapOne CLI to $2,000 or even $2,500 if possible. I have good income. Any ideas? Should I call or try the love button? And, would they run a HP or SP?

THANK AGHEAD OF TIME!

E-mail Executive Office and ask for upgrade to QuickSilver, Remove AF, and CLI to $5k... they will call you and then get back to you with results and they will counter if they can't do full $5k

Re: CapOne CLI Strategy

cjc343 — Thu, 10 Oct 2013 21:14:12 GMT

The online CLI request uses their last SP. See Question #3: http://www.capitalone.com/credit-cards/credit-line-increase/

It doesn't hurt to try it before going the EO route.

Re: CapOne CLI Strategy

Creditaddict — Thu, 10 Oct 2013 22:43:51 GMT

I don't think that button has really been giving out more than $500 cli... Id do the email route especially if you have no rewards and have an af on your current account because then you can take care of all 3 issues all at once.

short and sweet is all you need for the email... they have to call you to go over what you want anyway... they are pretty much only dealing with these issues so they don't need a story anymore.

Re: CapOne CLI Strategy

red259 — Thu, 10 Oct 2013 22:48:29 GMT

@Creditaddict wrote:
I don't think that button has really been giving out more than $500 cli... Id do the email route especially if you have no rewards and have an af on your current account because then you can take care of all 3 issues all at once.
short and sweet is all you need for the email... they have to call you to go over what you want anyway... they are pretty much only dealing with these issues so they don't need a story anymore.

I'm pretty sure I have seen postings indicating the button has given out more than $500 increase. Cap 1 isn't known for their large CLIs though, so $500 tends to be the average.

Re: CapOne CLI Strategy

BackInTheSaddleAgain — Fri, 11 Oct 2013 00:25:29 GMT

Thanks everyone. Just an FYI, I have the CapOne Platinum Mastercard with NO AF. If the CLI button only pulls a SP, then I'll probably try that first.

Also, as I mentioned in my original post, I pretty much use most of my CL each month and then PIF prior to statement posting. Usually I make a couple of payments during the month. Should I ask for the CLI now with a $1,350 balance, or wait a week when I make my next payment and the account only reflects a $100 balance? In other words is CapOne more likely to give me a CLI WITH OR WITHOUT a high balance?

Re: CapOne CLI Strategy

Creditaddict — Fri, 11 Oct 2013 01:59:54 GMT

exec office is sp also

id do the request online now with any balance if you wish... then just email exec... but the only issue some have run into is they get the low $500 CLI online and then exec office says they can't process another cli within 6 months or something vs. people going through exec office from beginning getting 3-10x current cl CLI. depends on your credit profile and what you are expecting them to go up to.

if you have $300 and other cards with $5k now... then I would say the button is a waste!

if you have $300 now and other cards are just $1k, then getting $500 from the button would put you in line with rest.

Re: CapOne CLI Strategy

audia4 — Fri, 11 Oct 2013 02:06:56 GMT

They started me out over a year ago with only $300. I tried the luv button and it denied me. I got the letter in the mail with no explanation.

You can see my scores in my signature line....HA! Really? They want to keep me at $300?? I'm hating this company!

Re: CapOne CLI Strategy

Creditaddict — Fri, 11 Oct 2013 03:44:01 GMT

So did you contact Exec office Audi?
The company at csr level is still bad but I think they are working on it... For now the exec email works great.

Re: CapOne CLI Strategy

bobbay — Fri, 11 Oct 2013 04:10:34 GMT

@Backinthesaddle

As mentioned above EO

You need to dream a little bigger, darling

http://youtu.be/3A_xzurN-Lc

Re: CapOne CLI Strategy

BackInTheSaddleAgain — Fri, 11 Oct 2013 04:20:17 GMT

Thanks CreditAddict. I think your point about only one CLI with CapOne every 6 months is credible so I will probably try calling tomorrow instead. Here's is my current situation:

CapOne: $1,500 CL / $135 balance currently reporting (but actual current balance $1,350 with statement cycling on 20th)
Barclays: $1,300 CL / $ 2 balance reporting
Merrick: $950 CL / $0 balance reporting
CreditOne: $800 CL / $10 balance reporting
Walmart: $400 CL / $0 balance reporting

Total CL: $4950 / $147 currently balance reporting (3% utilzation)

As you can see, my total utilzation is approx. 3%. However, my CapOne utilization is about 9%. So the operative question then is should I call for CLI on CapOne now with a $1,350 balance on that card... or wait until I pay it off at my statement cycle period on the 20th? Which would bring me greater success? Yes, I would love to have a $5,000 CLI again. However, I think the odds of them raising my limit that much in one go are slim. I'd settle for $2,500 to $3,000.

I have really good income... no lates past 5 years... but I am still recovering from my prior company BK in 2007, so I think creditors view me a little more cautiously than others.

ALL IMPUT IS GREATLY APPRECIATED.

Re: CapOne CLI Strategy

BackInTheSaddleAgain — Fri, 11 Oct 2013 04:29:48 GMT

Anyone have the EO number handy?

Re: CapOne CLI Strategy

roniram — Fri, 11 Oct 2013 04:31:47 GMT

I sent a message through Facebook last night that I was interested in obtaining a CLI, but was being denied through the luv button. They responded within minutes (they are open 7am to 11pm EST) and asked me for a contact number and my zip code. A very nice rep from the Capital One EO called me this afternoon, and asked me what I was looking for. I asked for an increase of credit of 5K each, and agreed to accept a partial if approved. So, I think you should try through EO. Based on your scores you have an excellent chance of obtaining an increase through the EO office. By the way, you have to tell them you have already tried the luv button, why you were denied, and that you want a manual review.

Re: CapOne CLI Strategy

BackInTheSaddleAgain — Fri, 11 Oct 2013 05:42:42 GMT

What's the process through Facebook?

Re: CapOne CLI Strategy

Creditaddict — Fri, 11 Oct 2013 07:29:49 GMT

Sent you message to your inbox for the email... Just do it that way, you will probably hear tomorrow if you message now.

Re: CapOne CLI Strategy

BackInTheSaddleAgain — Sat, 12 Oct 2013 00:05:09 GMT

Thanks for the contact info CreditAddict. I sent the CO a long email outlining my down-to-earth needs for a $5,000 CL. Got a call back from a nice lady a few hours later with a few questions verifying my assets, employment and income status. At the end of the call she said my request would be processed and they would let me know one way or the other in 3 to 5 days. Not sure if that is good news, bad news or if it even means anything.

Regardless, I not only appreciate your assistance in this matter, but also CapOne for being timely and efficient. I hope and pray for good news as it would REALLY make my life easier.

THANKS AGAIN!

Re: CapOne CLI Strategy

BackInTheSaddleAgain — Wed, 16 Oct 2013 01:03:14 GMT

Good news! As you suggested CreditAddict, I emailed CapOne CO and requested a CL increase from $1,500 to an ideal $5,000. Received a call back within a few hours and provided my financial info to them. They said they would have an answer back to me within 3 to 5 days. Today, as promised, I received another call from CapOne and although they didn't meet my ideal, they did double my CL up to $3,000.

Works for me and CapOne nnow has a secure loyal customer.

Re: CapOne CLI Strategy

Creditaddict — Wed, 16 Oct 2013 01:53:22 GMT

@BackInTheSaddleAgain wrote:
Good news! As you suggested CreditAddict, I emailed CapOne CO and requested a CL increase from $1,500 to an ideal $5,000. Received a call back within a few hours and provided my financial info to them. They said they would have an answer back to me within 3 to 5 days. Today, as promised, I received another call from CapOne and although they didn't meet my ideal, they did double my CL up to $3,000.

Works for me and CapOne nnow has a secure loyal customer.

YAY Congrats!

Re: CapOne CLI Strategy

Anonymous — Wed, 16 Oct 2013 02:03:15 GMT

What rewards on one your cap one card back in saddle? If you have no or worse rewards, ask EO contact for PC to quicksilver with no af or addition of 1.5% cash back to card.

Re: CapOne CLI Strategy

BackInTheSaddleAgain — Wed, 16 Oct 2013 07:45:22 GMT

Good idea. Someone else suggested the same upgrade to QuickSilver. I just didn't want to push my luck all in one go. My Platinum has no rewards so I definately will make the attempt after my next statement cycle. Or, what do you think of the idea of just applying for the QuickSilver as a second CapOne card? I only have one now. Doesn't CapOne allow you to have multiple cards?