Hi all, I'm a 24 year old college student, have had a Journey and PC'd it to Quicksilver for almost three years now and I'm looking to request for a decent CLI. Some stats:
Line: 500
Missed payments: 0
Inquiries: 0 (no apps in the passed couple years)
Badies: 0
Open: almost 3 years
Lines of credit: 1 (just this one; no loans)
Utilization: 0% ** (keep reading)
Income: 16000 (part time, student)
Monthly spend: 40-200
A little background: A little over half a year after I applied, I hit a couple hurdles and racked up expenses for school like crazy so my utilization hovered between 80-95% for the last couple years which is awful. Today, however, I finally paid off my entire balance! 
I figured Capital One didn't give me automatic CLIs because of how bad the utilization was so I just held back for years, but now that I'm back on track I'd like to build more.
My question is: When should I hit the LUV button and for how much?
I'm wondering if I should give it a couple statements showing a low (1%-9%) utilization before attempting. Should I? I'd like to have a solid 2000-3000 line for building up my score and to get competitive lines from other lenders in the future (mostly after I graduate; might app for one more card this year to strengthen portfolio). Does this seem reasonable? What would you do in my situation? Thank you in advanced! Love this forum!
In my experience, more often than not after trying for CLI's after paying off a large balance immediately or waiting until the statement cuts, the results have been better waiting until after the statement cuts. Even in cases where overall utilization was hardly a factor. In your case overall util on your reports is definitely a factor, it would be best to wait for the statement cut and also a bit longer for all of your reports to update. And with Cap One I'm not sure if they soft pull immediately upon CLI request or use the most recent soft pull which may or may not have been generated before your reports updated, so your instinct to wait an additional statement after that may be good. This is all of course assuming your goal is trying to get the highest possible increase from them and not something small. & Congrats on paying everything off. 
@Anonymous wrote:Hi all, I'm a 24 year old college student, have had a Journey and PC'd it to Quicksilver for almost three years now and I'm looking to request for a decent CLI. Some stats:
Line: 500
Missed payments: 0
Inquiries: 0 (no apps in the passed couple years)
Badies: 0
Open: almost 3 years
Lines of credit: 1 (just this one; no loans)
Utilization: 0% ** (keep reading)
Income: 16000 (part time, student)
Monthly spend: 40-200
A little background: A little over half a year after I applied, I hit a couple hurdles and racked up expenses for school like crazy so my utilization hovered between 80-95% for the last couple years which is awful. Today, however, I finally paid off my entire balance!
My question is: When should I hit the LUV button and for how much?
I'm wondering if I should give it a couple statements showing a low (1%-9%) utilization before attempting. Should I? I'd like to have a solid 2000-3000 line for building up my score and to get competitive lines from other lenders in the future (mostly after I graduate; might app for one more card this year to strengthen portfolio). Does this seem reasonable? What would you do in my situation? Thank you in advanced! Love this forum!
Capital One AR's (Account Review Inquiry) usually every 90days (per account)...you're EQ report/score/util etc will be the determining factor in your CLI request. If you want to know when they last checked, backdoor into your EQ report and look for a AR-Capital One N.A or ND-Capital One N.A. in the "Inquiries That Don't Impact Your Credit" section. This will be the most current snapshot of your EQ Report they have. I'd wait until I saw an AR inquiry from them after your statement cuts etc...this way you can be sure that the CLI will be based off the improved utilization and EQ Profile.
I just want to say a BIG THANK YOU to everyone who responded to this! I can't thank you enough for all your insight, everyone! 
>>cashcorp1: I replied to both of your posts in a PM. Thank you for all your suggestions and in depth explanations! You are a treasure! Thank you for the valuable information and example, this gives me hope. I do use my card heavily, so, I do think my utilization was what was holding me back.
>>MrsCHX: I actually had a CLI from 300 to 500 at my six month and had carried a very low utilization when it happened, so, I think you are right in that I should let it report for a few statements before asking. Thank you for your perspective!
>>WaveRider: I was already going to wait until the statement cut before attempting, but thank you for the invaluable testimonial! I'll keep that in mind should this ever arise again, but hoping it won't. I had a feeling that I needed to wait until all my reports updated before trying to, as you say, get the highest possible CLI I can. I mean, it's been over two years... Kind of hoping I can score more than a measly 200 again lol. I'm glad my instinct was good lol!
>>Jdana70: While you are right, I really don't want to risk the SP and then possibly having to wait another six months because my score and utilization hadn't updated. But thank you!
@Anonymous wrote:Hi all, I'm a 24 year old college student, have had a Journey and PC'd it to Quicksilver for almost three years now and I'm looking to request for a decent CLI. Some stats:
Line: 500
Missed payments: 0
Inquiries: 0 (no apps in the passed couple years)
Badies: 0
Open: almost 3 years
Lines of credit: 1 (just this one; no loans)
Utilization: 0% ** (keep reading)
Income: 16000 (part time, student)
Monthly spend: 40-200
A little background: A little over half a year after I applied, I hit a couple hurdles and racked up expenses for school like crazy so my utilization hovered between 80-95% for the last couple years which is awful. Today, however, I finally paid off my entire balance!
My question is: When should I hit the LUV button and for how much?
I'm wondering if I should give it a couple statements showing a low (1%-9%) utilization before attempting. Should I? I'd like to have a solid 2000-3000 line for building up my score and to get competitive lines from other lenders in the future (mostly after I graduate; might app for one more card this year to strengthen portfolio). Does this seem reasonable? What would you do in my situation? Thank you in advanced! Love this forum!
If you look at my sig, you'll see I have a wee bit of experience with Capital One - know that the following advice comes from a place of understanding
your best move at this point would be to leave a $10 balance on the card and request a line increase the very next day. You've already done the two things Cap One wants, which are to use the limit they gave you, and show you can pay off the limit they gave you. There's literally nothing else they care about, so no reason to wait...unless your balance is exactly zero, then you might fool the computer into thinking you have an inactive account. So $10, then push. Take whatever they offer, then rinse and repeat every 6 months.
Good Luck!