Capital One Credit Limit Increase question

[Anonymous]

I just requested a CLI on both my Cap1 Platinums.

My 1st Platinum, which is my very 1st CC, was denied i think. I got the "We'll email you in 2 days" message. That CC was originally a secured $200 platinum that had a CLI applied about a year ago to $1350.

My 2nd card, also Platinum but unsecured, is about 15 months old. Originally $500 and CLI at 6 months to $750. Requested CLI a minute ago and was given $1500 CLI! Now up to $2250!

Not sure why my 1st card was denied. Have never carried a balance on either card to the point of paying interest.

How long should I wait til requesting another CLI on my 1st CC?

[Anonymous]

@Anonymous

Welcome to MyFICO

I moved your post to it's own thread and the appropriate forum where it will receive more attention.  Good luck

[Anonymous]

Thanks Irish! Much appreciated!

[Anonymous]

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@Anonymous wrote:

I just requested a CLI on both my Cap1 Platinums.

My 1st Platinum, which is my very 1st CC, was denied i think. I got the "We'll email you in 2 days" message. That CC was originally a secured $200 platinum that had a CLI applied about a year ago to $1350.

My 2nd card, also Platinum but unsecured, is about 15 months old. Originally $500 and CLI at 6 months to $750. Requested CLI a minute ago and was given $1500 CLI! Now up to $2250!

Not sure why my 1st card was denied. Have never carried a balance on either card to the point of paying interest.

How long should I wait til requesting another CLI on my 1st CC?

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Welcome to the forums!

Your first card, the former secured, is sufferring from a Capital One phenomenon I call 'stuck in its initial bucket' - meaning that no matter how well you handle the card, it will always bear the stigma of having started life as a rebuilder card, so it will never grow like your newer one will - my advice would be to use the account combination feature to fold the limit onto your obviously better-bucketed 2nd card (this will close the card, fyi).

Speaking of which, why do you still have a Platinum after 3, much less 15 months?!?  Get on chat and ask if there are any offers to product change your Platinum to Quicksilver - most likely there are, and you can at least start getting some rewards for your trouble!

Good Luck!

[Anonymous]

I've been thinking about that. I'm really a total noob on the intricacies of CC manipulation.

Primary worry is that my secured CC is my oldest and if I combine and cancel it, that will drop my credit average age.

2nd worry is that canceling it also lowers the amount of my active accounts. I have 4 active cards and 1 installment loan.

I'm not really sure how much my FICO would dip if I made major changes like this

While my oldest cc is only 19 months, my average age is about a year.

I've been considering a used car loan in 6 months when my hard inquiries drop from 6 to 3.

Would making changes like this hit me hard enough to cause me problems for this?

[Anonymous]

As long as no annual fees are in play, there is no rush - Go ahead and wait until after you have dealt with your car if you need to. The cards will be there when you are ready.

[Anonymous]

Looking at the QS rewards card, there's a $39 AF. Don't think thats my best bet. I already have an Amazon Prime Rewards card so that 1.5% doesn't give me much incentive.

[Anonymous]

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@Anonymous wrote:
Looking at the QS rewards card, there's a $39 AF. Don't think thats my best bet. I already have an Amazon Prime Rewards card so that 1.5% doesn't give me much incentive.

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that's the QS1 - the QS (no 1) has no AF

Edit: Didn't think about this before, but there's also the Premier Dining Rewards you could check out with no AF

[Anonymous]

I'll look into the QS. I didn't see it in the rewards cards section. As to the Premeir Dining, I doubt my scores are high enough. Their page says Excellent credit. I'm only average at this point.

EQ 674, TU 671, EX 669

Couple that with short history, a negative i can't seem to get removed, I don't see me getting that card anytime soon

[Anonymous]

I have two Platinums myself (one secured, opened at the end of 2015/beginning of 2016), the other (unsecured) opened in February. I'd really like to fold the older one in with the newer one but obviously I can't do that unless/until it's graduated - I know Cap 1 is starting to graduate older secured Platinums but I can't really discern a pattern as to how they're doing it.  From discussing the issue on other threads, it seems like I should try for a CLI on the unsecured after my 3rd statement drops in June, as an automatic Credit Steps increase is scheduled to take place in September. Still not sure whether I'd qualify to be PC'ed to a Quicksilver with current scores and history, I'm trying to play it conservatively during gardening.