topic Re: Quicksilver cli in Rebuilding Your Credit

Quicksilver cli

Anonymous — Tue, 07 Feb 2017 00:16:35 GMT

I've had my qs roughly 2mo. 500 SL. Im trying to get it to at least 1k. I asked for cli, was told my account is too new.

Currebt balance is 172. My plan is to pay it off this week, or next week. And wait til my new statement cuts then ask again.
Will this work, or should i keep more of a balance, for longer. Or less balance? Im unsure what capital one likes to see.

Re: Quicksilver cli

redneck18 — Tue, 07 Feb 2017 00:38:13 GMT

It seems a lot of changes have happened at cap one the past year. As a rule though heavy usage with large payments typically have netted the best results. I think the first CLI usually happens at around 67 days, but waiting on the third statement is likely the safest bet.

Re: Quicksilver cli

stargazer25 — Tue, 07 Feb 2017 04:36:20 GMT

Capital One only does CLI every 6 months. How you use the card is going to affect how much of an increase you will get. Use it a lot, pay it off quickly and pay it in full by the time the statment cuts to not screw up your UTIL.

Re: Quicksilver cli

Anonymous — Tue, 07 Feb 2017 16:45:59 GMT

is it a SP on cli?

Re: Quicksilver cli

Anonymous — Tue, 07 Feb 2017 16:56:31 GMT

You can ask at three months, but whether you'll get it is kind of unknown at this point. As was pointed out, lots of changes at Cap 1 over the last year.

In the past, on small starting limits like yours (and what I started out with), you could ask for an increase a couple or three months in, and then you'd get a Credit Steps increase at 6 months if you were in the Steps program. Not sure what's become of that program lately.

With Cap 1, it's no pull, meaning, it uses the last soft pull it did on you, and then it does a new soft pull on some schedule that they have, but isn't really known to the rest of us.

Big balance, big payment, I'm not sure it matters ... just use it wisely, make payments, don't accrue interest, and it'll grow in time. You have to be patient.

Re: Quicksilver cli

trnj88 — Tue, 07 Feb 2017 22:31:30 GMT

Capital One is strange.. I have a Cap1 Platinum ($1,000 CL) and also a Cap1 Quicksilver ($1,750 CL). I've used them heavily, PIF'd with automatic payments and requested a CLI via the site... it came back with $250 CLI. Really? I'll pass..

Called up and they told me the same thing-- $250. Very stingey. I'll give it another week or two and will try again. If they don't budge from $250 it's right back to the sock drawer with both cards.

Not going to bite on a $250 CLI and then have to wait six months for anything higher.

Re: Quicksilver cli

stargazer25 — Wed, 08 Feb 2017 01:59:44 GMT

It is a soft pull for the CLI. I started with $500 SL and received $500 CLI x2 but I think it had to do with my heavy usage and drastic jumps in credit scores from when I initially applied.

Re: Quicksilver cli

Anonymous — Wed, 08 Feb 2017 02:30:16 GMT

About 7 months ago I was approved for QS1 $3000 CL. Did the credit steps and was given a bump of $1500. I was then able to upgrade to the regular QS card. Monthly balance on card was 1K to 1.2K. Made 4 to 5 payments each month.

Re: Quicksilver cli

stargazer25 — Wed, 08 Feb 2017 02:43:12 GMT

I had a secured with $1K, $500 platinum, $500 QS1. Received credit increases on both by $500's and then PC'ed platinum to QS and combined with QS1. Closed secured. Ended with $4K on QS. I still run about $2-3K and pay about 2-3x a month and report a less than 10% util at close of statement. It's a game with Cap1.