Cap1 / Amazon Credit Line Increase?

[Anonymous]

Hi,

Long time lurker here! This forum has been so informative and helpful but I have never created a thread of my own. I recently requested a credit line increase a month after receiving a $100 increase on my Cap1 card and was denied. The reason they gave me was "there has been a recent change to the credit line on this account". The total CL on that card is $950 now but I want a higher CL to improve my overall utilization. I have seen people talk about calling Cap1 after a $100 increase and getting a $1000 even $2000 increase. They told me that they couldn't do a credit line increase over the phone for "security reasons" when I called the backdoor number. I don't have a long credit history (oldest card is 3 years and 3 months old) but I have quite a few credit cards and an excellent history (no baddies). However, my utilization needs improvement.

Utilization:

Delta AMEX $10000 (99%)

AMEX Blue Cash Preferred $2000 (150%) <- I charged too much on this card when I was younger but I plan to pay it down to $1500 within 30 days.

Chase Sapphire $5000 (100%)

Synchrony Bank Lovesac $5500 (39%)

Synchrony Bank Mattress $1000 (0%)

Best Buy Credit Card $1000 (0%)

Capital One $950 (0%)

Amazon Store Card $800 (0%)

Bank of America Cash Rewards $300 (0%)

Toys R Us $250 (0%)

As you can see... I'm working on my utilization. I really need some credit line increases to help me out (even a little). I was denied an increase from Amazon a couple of weeks ago but my utilization on that card was at 80% when I asked. I was also thinking of applying for new cards to help me with utilization... what are some that you guys would recommend?

Income: $100,000 (annually)

Experian: 636

Transunion: 640

Equifax: ?

Sorry for the long post. Thanks everyone!

[MauiMan85297]

Once you accepted the increase you won't be able to get another for 6 mos, you might be referring to someone in credit steps where they get a CLI after asking then Cap 1 gives them another at the 6 mos mark.

[Anonymous]

I am probably mistaken then. However, the Cap1 credit analyst told me to keep trying. What about Amazon? Should I try again with them or wait? I am also looking for new cards to apply for to improve my utilization. What's your experience with the QS card? I think I might be pre-qualified for that one. http://i.imgur.com/E3fU8dZ.png

[Anonymous]

I have the Amazon card. I got it in June, 2015 with a limit of $700. I asked for a couple of increases and was told not eligible, no hard pull. In December I saw I had a promotional interest free rate expiring so paid most of the balance, a or $500 and come January I noticed a CLI to $1k. I think just using the whole amount and paying most of it occasionally is all that is necessary.

[Anonymous]

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@Anonymous wrote:

I am probably mistaken then. However, the Cap1 credit analyst told me to keep trying. What about Amazon? Should I try again with them or wait? I am also looking for new cards to apply for to improve my utilization. What's your experience with the QS card? I think I might be pre-qualified for that one. http://i.imgur.com/E3fU8dZ.png

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There's no harm in asking for a CLI on your Amazon account.  It's always a SP, so even if they deny you, no harm no foul.  Call Credit Solutions or try the chat feature.  Synchrony can be pretty generous on Amazon.  

[kjm79]

I'd put off applying for additional credit cards at this time. Because of your UTIL lenders aren't going to approve with you a high SL, if they approve at all. Your best bet is to work on getting that UTIL down and shooting for CLI's on your current cards for any that do SPs. ONce your UTIL comes down and your scores go up you will have better chances at better cards. 

[Anonymous]

I'm really tempted to apply for the QS card from Capital One. Even if they approve me for $1000 it would be better than nothing and I could always hit the luv button after paying it in full for 6 months.

[thummel]

Have you checked there pre qual site yet to see if anything comes back?

[Anonymous]

It looks like I'm pre-qualified for a QS or Platinum. http://i.imgur.com/E3fU8dZ.png

[_NERD]

Run the prequalifier tool again but with excellent credit selected, if you haven't already done so. See if the full blown QS Visa or Venture pops up.