topic Re: Should I accept a tiny CLI from Capital One? in Rebuilding Your Credit

Should I accept a tiny CLI from Capital One?

TheCity — Fri, 15 Mar 2019 12:12:41 GMT

Hey guys,

So I have a Cap1 Quicksilver card that about 3-4 months ago was graduated from a Platinum. Overall, I've had the account for more than 2 years. The current limit on it is tiny, only $500. I travel a ton for work though so I tend to use it VERY heavily. Maxing it, and then emptying it before the statement hits. Because of this history I was expecting a substantial increase from Cap1, however, they hit me with a measly $100 offer.

So my question is, should I take that offer and then try again next month, or decline it, and then try again at some other date?

Also, how often should I be asking for increases? It doesn't matter unless I accept one, right?

Re: Should I accept a tiny CLI from Capital One?

GApeachy — Fri, 15 Mar 2019 12:21:12 GMT

@TheCity wrote:
Hey guys,

. Because of this history I was expecting a substantial increase from Cap1, however, they hit me with a measly $100 offer.

Did you ask for the cli online? Maybe you can call in and ask a csr if it could be more. Good luck, cuz I'm not sure what I'd do bout that...accept or decline(?)

Re: Should I accept a tiny CLI from Capital One?

Anonymous — Fri, 15 Mar 2019 12:22:06 GMT

These low limit CapOne cards tend to grown very slowly, if at all. CapOne seems to bucket cards that were obtained with low credit scores and never allows them to grow much.

You can only obtain a CLI from CapOne every 6 months.

Honestly, if I was you, I’d probably take the $100 understanding that you probably won’t be offered more anytime soon. If your scores have improved dramatically since you obtained the card 2 years ago, I’d suggest applying for another card and hope for a higher limit.

Re: Should I accept a tiny CLI from Capital One?

pinkandgrey — Fri, 15 Mar 2019 13:10:10 GMT

The card is probably bucketed, so those CLIs are probably about the best you’re gonna get. It’s only one CLI per 6 months though, so maybe hold off, use the card heavily and pay frequently, and try again later?

Re: Should I accept a tiny CLI from Capital One?

Remedios — Fri, 15 Mar 2019 14:58:04 GMT

@TheCity wrote:
Hey guys,

So I have a Cap1 Quicksilver card that about 3-4 months ago was graduated from a Platinum. Overall, I've had the account for more than 2 years. The current limit on it is tiny, only $500. I travel a ton for work though so I tend to use it VERY heavily. Maxing it, and then emptying it before the statement hits. Because of this history I was expecting a substantial increase from Cap1, however, they hit me with a measly $100 offer.

So my question is, should I take that offer and then try again next month, or decline it, and then try again at some other date?

Also, how often should I be asking for increases? It doesn't matter unless I accept one, right?

Accept it because with a starter card, you may not get a better offer. Majority of those cards are doomed at birth.

I dont know what the rest of your profile looks like, but I'd start looking at other options as far as CC go.

Re: Should I accept a tiny CLI from Capital One?

TheCity — Sat, 16 Mar 2019 09:06:25 GMT

Yea, I'm thinking about probably going 2 routes: Accept the tiny increase
Then also apply for a brand new card.

I'll probably give Cap1 til this next statement and see how it's looking then. Saw another poster say something about them only looking 2-3 months back at your credit, and I had high usage last month.

Re: Should I accept a tiny CLI from Capital One?

Brian_Earl_Spilner — Sat, 16 Mar 2019 09:18:00 GMT

@TheCity wrote:
Yea, I'm thinking about probably going 2 routes: Accept the tiny increase
Then also apply for a brand new card.

I'll probably give Cap1 til this next statement and see how it's looking then. Saw another poster say something about them only looking 2-3 months back at your credit, and I had high usage last month.

I didn't get a CLI on any of my cap1 cards until I used them heavily for 3 months straight. At that point they all got increases.

Re: Should I accept a tiny CLI from Capital One?

credit2019 — Sat, 16 Mar 2019 10:12:56 GMT

I am due for a $250 automatic increase in 2 months for making payments on time, so I'm kind of in the same boat as you...facing a ridiculously small CL increase that keeps the card as useless as it is with its current line ($500). I guess I should just accept the automatic increase, as they just denied a manually requested increase. My plan is to apply for a Quicksilver card as soon as the credit line is increased on my existing card, though I don't hold out much hope for that. It seems when it comes to credit recently, all I get are denials, despite that fact that I have no late payments.

Re: Should I accept a tiny CLI from Capital One?

TheCity — Sat, 16 Mar 2019 10:20:52 GMT

How did you know about the automated CLI? A rep?
I use the card very heavily usually and pay it off in full before the statement date... And still nothing... It's a Quicksilver card too. Smh

You every look at the Discover It card? It's been pretty good for me over this past year.

Re: Should I accept a tiny CLI from Capital One?

Anonymous — Sat, 16 Mar 2019 17:00:32 GMT

@TheCity wrote:
Yea, I'm thinking about probably going 2 routes: Accept the tiny increase
Then also apply for a brand new card.

I'll probably give Cap1 til this next statement and see how it's looking then. Saw another poster say something about them only looking 2-3 months back at your credit, and I had high usage last month.

+1 to this!

I am stuck with a bucketed old Platinum card turned Quicksilver... I would take it and from what I have read most people sock drawer the card after that.

I've read lots of posts about success with a second card if your scores have improved dramatically, I would go for the second card versus stressing out about these low limit Cap1 cards.

I don't have the link but there is alot of good information regarding the subprime lending cards and why certain lenders bucket cards like that.

Cheers

Re: Should I accept a tiny CLI from Capital One?

Anonymous — Sat, 16 Mar 2019 18:01:52 GMT

Yes, accept anything you can. You are not going to get reconsidered even if you call in. Tried many times. Even with 5x the limit on my card via monthly spend on their card, I couldn't get it to go higher. If you're bucketed, you're bucketed. Get a new card is all I can say. My Venture is getting a lot of love with the spend amount but my original bucketed card is only getting a hundred dollar increases.

Some say that too many people were calling in about reconsiderations and Cap 1 decided to make it all based on a computer algo so no amount of pleading with CSRs will change the limit.

Re: Should I accept a tiny CLI from Capital One?

TheCity — Mon, 18 Mar 2019 10:13:42 GMT

Thanks everyone for all your help! I've gone ahead and accepted the CLI, and am officially in the market for a new card!

Re: Should I accept a tiny CLI from Capital One?

Girlzilla88 — Tue, 19 Mar 2019 00:05:42 GMT

I would recommend waiting at minimum 6 months if you are doing a new card altogether but if you are staying in the Cap One fam 3 months I think would be a good minimum to wait since you accepted increase

Re: Should I accept a tiny CLI from Capital One?

credit2019 — Tue, 19 Mar 2019 00:12:39 GMT

@TheCity wrote:
How did you know about the automated CLI? A rep?
I use the card very heavily usually and pay it off in full before the statement date... And still nothing... It's a Quicksilver card too. Smh

You every look at the Discover It card? It's been pretty good for me over this past year.

Re: Discover It, I tried Discover's prequalification system, and it said I wasn't prequalified for anything. But at the time, I had just applied and been approved for several revolvers, so I assume that's why. I will check again in a few months.

Re: Capital One, they have a section in the online portal...if you click on your balance right after you login, it's at the very top of the screen when you look at it on a desktop machine. In their mobile app, it's on the first screen but you have to scroll down.Capital One Automatic Increase