Capital One QS CLI - should I accept?

[Beast26]

I got the exact same offer today and my limit was $500.  I put over $1400 a month through the card making multiple payments and kept utilization under 5%.

[GApeachy]

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@Beast26 wrote:

I got the exact same offer today and my limit was $500.  I put over $1400 a month through the card making multiple payments and kept utilization under 5%.

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How many months did you spend $1.4k/month?  Were you or are you in credit steps? If so, when did you finish or will finish?

[periferel]

what a coincidence, i hit the love button a few days ago and they gave me a $100 increase - just like you it was on a $1k qs card. 

[sxa001]

As others have said, take the $100 and try again in 6 months. They were already kind of tight on handing out the credit and with COVID even more so. 

[Beast26]

I spent $1400 every month.  I completed credit steps in March.  My increase this month was a normal CLI.

[Papa_Bear]

DW just got the same increase. It's almost like getting the generic version of the gift you asked for. Kinda what you wanted but not exactly.

[coldfusion]

With Discover for example refusing a token CLI offer can pay off because sometimes you can get a much bigger one within 3 months.  That doesn't work with Capital One so as others have already suggested if they offer a CLI grab it, even if it is a token one.

[Anonymous]

Here is my experience with them because I'm in a similar boat as you right now. My first non store card (and only non closed card at the moment) was a quicksilver. I'd had a pair of store cards that I only made one purchase with but paid off immediately, so I at least had some credit established. When I applied for it my file is the two closed store cards and a ton of student loans that I had not started paying yet because I'd just graduated. I have no idea what my Fico was then (didn't know what they were) but I know my vantage with credit karma was 695 lol. Anyway, after a long time of waiting they sent me the quicksilver in the mail with a $1000 SL. I applied for a cli with it repeatedly for forever. I knew it had to be bucketed because they would not give me anything on it even after 7-8 months of me spending with it like a debit card -$600 to $-1500 monthly. The reason was initially that it was not currently available on request despite being older than 6 months. Then it changed to add that they were evaluating my spend at current limit for months. Then I had about $800 report once and paid it the next day after - still nothing. For sure I was bucketed I thought. Whatever, I applied for the Uber visa when it was still cool about ten months after getting the quicksilver and they gave me a $2500 SL. The same month that reported, capital one increased my quicksilver from $1000 to $4000. Six months later Barclays automatically increased my Uber card up to $5200. I tried to get the bump on my quicksilver again and got the same old tired messages telling me no. The month that increased limit reported with Uber though I asked capital one again and they increased it to $7000 instantly. It honestly seems like they're just jealous that someone else will give you a higher limit lol I got the chase freedom flex most recently with a $7500 sl, and now today capital one says they'll increase me to $7750 ($750 bump) if I want - after months of saying they couldn't give me one. Since the Uber card got nerfed in February, I've put $1000-$2000 a month through the quicksilver. CO is just tight with their increases.

[GApeachy]

@coldfusion You have to wait another 6 months even though you didn't accept it? It resets the clock?

[coldfusion]

The only point I'm making is that refusing a small offer with the hope of them coming back in a couple of months with a bigger one almost certainly won't pan out.