How long should I wait before requesting a CL Increase?

[softballgirl29]

I filed Ch7 in May 2012, discharged in Aug 2012. Since then I have gotten three new credit cards. Capital One Platinum $250 CL (Rec'd in September), Credit One Bank $300 CL (Rec'd in September), and Capital One Rewards $500 CL (Rec'd in December). I PIF every month and keep util low. How long should I wait to ask for CL increase? I don't really want to apply for additional cards right now but I would like to see if I can get more $$ on the cards I currently carry. Suggestions?

[starry1]

Are these all unsecured?  I think Cap1 is 6 months, but I'm not positive.  Your question might be better answered in the credit cards subforum.  Those guys are the gurus.  I have no idea abut Credit One.

[MovingForward_2012]

Capital One will give you one auto increase of $250 and that is the only increase you will get from them unless you call or email the Executive Office. Your increase of $250 should be reflected on your 7th statement.

[shols44]

+1 to above. 

CreditOne will not grow with you, requesting CLI with them is a waste of time. This is strictly a rebuilder. Cancel at your 11th statement. 

The only way to get a CLI from capone these days (other random miracles) is through the EO. I would suggest waiting close to a year so you can say, "I've been a loyal customer for a year" I think it carries more weight. You can time this around your annual fee so you can request to have it removed around the same time.

Once you've had positive tradlines for about 6 months, I suggest gearing up to axe your creditone acct by adding a barclay product (NFL, Priceline).

[softballgirl29]

Thanks so much for all the info! I will wait until April to file for a Barclays product so that I have the six months of positive credit history on my revolving TL's. I am also wondering about my car payoff. The last payment on my auto loan will be in April. Now that it is currently reporting and is a positive TL after my reaffirmation, will it lower my score after it is paid off since it will be one less TL and type of credit account open?

[MovingForward_2012]

It depends, if the auto loan actually starts reporting your last final payments to the credit bureau, it will probably hurt your score a little when the account is closed. But many banks do not report to your credit bureaus after reaffirmation such that your auto loan history stays frozen at the time you filed BK...if this is the case for you, paying off the loan and closing it will have zero effect on your credit.

[kimmiller112]

With Credit One, when you log in, there are special offers you can either click on or they go across part of the screen.  When you are eligible for a CLI, it will show up as one of your offers, BUT, you have to pay for the increase.  It's something like $19.95 for a $100 increase.  I think you can do it every 6 months.  So, use this card as a rebuilder and get rid of it once you have something better to replace it with.

[MovingForward_2012]

OMG! I didn't know you had to pay for an increase with CreditOne! That's horrific!

[softballgirl29]

MovingForward_2012....yes, my auto loan is currently reporting properly. After my bankruptcy I made that my first priority. It is reporting as reaffirmed debt and pays on time as agreed. That is why I am afraid that by taking away that tradeline that it may affect my score negatively.