Capital One CLI - disappointed, to say the least

[Anonymous]

Little history:

-Opened a Capital One Platinum 11/17 to build credit, with a $300 credit limit. After first payment, got an alert that May 2018 I would get an increase to a $500 limit.

-100% on time payments, and an average utilization of around 12%

-Took transfer offer to Capital One Quicksilver

-My husband who had no credit, was granted an Amex Blue Everyday with a limit of $1000 solely off being an authorized user on these accounts.

-Granted a Chase Freedom with a $2000 limit 2/2018

Requested a credit limit (I have been doing this monthly) and got a measly $100 increase. I'm aware i'm in the Steps program, but I am making great upward strides and the $100 increase was quite a disappointment.

Has anyone had great success with getting large increases from Capital One?

[Time2letgo]

Congratulations on the small increase, it's definately better than none.  Don't be discouraged, keep on paying your bills on time and it will grow in no time. Capital one generally only gives cli every six months per account. I started my rebuild in Feb 2013 a secured Fifth Third card of $1500, so I could rent cars when business takes me out of town. I still have it, cause they don't graduate and I have sentiments attached to it. A few months later I got approved for a Kay Jewelers card with a $2200 starting limit. I almost sh.t my pants, that's how excited I was. I had been a cash customer for so long after my bankruptcy, I basically gave up on credit, I refused to even apply. The store clerk twisted my arm to get me to do the application, and told me I would be helping her out because they have to get a certain amount of applications per month and she was short coming up to the end of the month. Hard pulls and inquiries at that point meant nothing to me, so I obliged. I couldn't believe it when she told me I was approved. Capital One was my next target and they granted me a $300 credit steps platinum in Feb 2014, that's all I needed, my first unsecured real credit card and that was my beginning. That card now sits at $11,300 and another QS1 I got in July 2014 also started at $500 that now has a $8000 current limit. Two years later I could basically prequalify for just about any card I choose and was able to get a jumbo mortgage. Income is good, but let me tell you, income ain't sh.t if you don't have good credit behind it. I still have some ways to go but I'm a long way off from where I started just a few years ago. Hang in there, it gets better 

[601flyguy]

$100 increase while on credit steps is normal. Put alot of usage on the card before may and they will increase you past 500

[AverageJoesCredit]

Remember most C1 beginner cards like the Plat get you bracketed so you wont see huge cli given. Bigger cli are ususlly granted for their upper tier cards and even then you more than likely need to show heavy usage and payments to get them. Keep the path

[Anonymous]

From my experience with Capital One (3 cards)...

Capital One usually gives you an auto CLI after the 5th month of on-time payments.  On one of my cards (SL $1000) I requested a CLI after two months and it was approved, but only for $100.  I then had to wait 6 months later for another increase which took me from $1100 to $3100. 

Another card I started with $500 limit and waited until the 5th month auto CLI and went to $2400.  I guess it really depends on how you manage your credit.  Hope this helps and congrats on getting an increase!!

[Anonymous]

Thanks, everyone!

With the Chase and Amex grants, I'm planning on putting the Quicksilver into hibernation very shortly - I just would love a giant CLI before then!

[Anonymous]

This is a common lament. If you search the topic here, you can read the many threads on it and gather possible intel on what seems to result in Cap One giving better-than-their-average meager increases.

 ...I am in this boat as well, having gotten my Platinum card for $300 in December, and hoping to increase my chances of getting better than the stated $500 six month CL for making "on-time payments."

I am considering implementing the strategy of high usage for the next few months that I have before that six-month review. From what several have reported, Cap One and some other CCCs seem to give more "love" if one is actually making good use of their cards.    A strategy that some use is to put card into high use in the few months leading up to a CLI request, yet maintain low utilization rates by paying balances down BEFORE the billing cycle ends (i.e. before statement cuts and your balance is reported to the CRAs.).  So, there is no negative affect to your credit for the higher utilization rate.

In one recent thread, someone claimed they put $400-$600 a month on the card and got a $3000 CLI on Cap One QS1.

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Cap-One-CLI/td-p/5149212/highlight/false

Six months ago I got a Cap One QS1 with a baby CL of $300.   I was expecting an automatic CLI to $500 after 6 months of on time payments.   I just hit that six months and instead of getting a bump to $500 I was given a CLI of $3000.   Can't complain about that.  The CLI is roughly equivilent to the amount I charged on this card in the last 6 months, coincidence?  Most likely but interesting. 

So, you make multiple payments each month, to continuously free up the $300 credit again to use, allowing whatever small (or zero) balance you want to allow to report on the statement to remain.\

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@MakingProgresswrote:

Charge and pay, charge and pay, charge and pay.  Thats how its done. 

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That advice is echoed in this thread:

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Cap1-Platinum-Preferred-CLI-Denial/m-p/5170...

That denial reason is somewhat justified if all he is using it for a $20 a month charge. You have to abuse these low-limit Capital One cards to get growth out of them. Charge them up to the limit and pay them down immediately, rinse and repeat several times a month. This is a surefire way to show them that the limit they gave you doesn't match your spending patterns, and can result in a 3-5x CLI, like my mom. Her credit steps went from $500 to $3,500, when it was only supposed to go to $750.  

This is excellent advice. I did the same with my Quicksilver One toy limit card (also 500) and it grew just like yours did: 500 --> 4,500 --> 6,000. I find the best way to get love is to show love. So, when I'm gearing up for a CLI on a card that likes heavy usage, as Capital One does, I make it my daily driver for several months leading up to the request in order to improve my chances of getting one. Just don't forget to pay in full before the closing date as you don't want more than 9% usage reporting to your credit (assuming you care about gaming the system, that is).

[Anonymous]

You might also be interested to learn about Cap One's simple 'check for upgrades' link:

http://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-check-for-upgrade-link/td-p/4934733

Many people who have tried have had their Platinum upgraded to Quick Silver card that way.  No harm to try--instant and no hard pull. 

EDIT: i reread your post and realize you already got an upgrade to QuickSilver! Good on you!

[SwarthyOgre]

Welcome to the low tier bucket club. My QS1 is 2 plus years old and just hit $1,900 with a whopping $150 cli. Woohoo. Meanwhile amex and discover have rewarded me with 5 digit limits. It is and always will be a rebuilding card and served it's purpose but I fear it's limits have been reached and has been banished to the sock drawer. Keep at it but its just a means to an end, a way to get you in with prime lenders.

[Anonymous]

My QS started life as a $300 platinum back in 2011 when my scores all started with the number 5 and I had multiple active & dormant baddies. I graduated credit steps at $750 and for the next few years got an annual auto-cli or two. The card spent this period of 5-6 years seeing heavy use as 1 of my 2 credit cards, often carrying balance in the neighborhood of 30-75% utilization. By the time my rebuild was close to done in early 2017 I had paid ALL balances to zero and discovered that you can initiate a cli request yourself, the card had a $2500 CL. I submitted a request via the app and instantly went to $6300, following which I requested a PC from plat to QS and found success.

Even when you start in the deplorable bucket like me (this was a second plat with them, my first ended charge off) & almost all $300 CL plat holders do, there is still potential to grow it with cap1. You just have to play the long game and have patience.

Or swallow the triple pull +new account hit and app a new card if your profile has really improved enough to grant you a high CL "top tier" Cap1 card. My advice is to wait until you've at least graduated credit steps. Eagerness won't help you in the end.