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I have a CapitalOne Quicksilver card with a CL of $6,800.
It has been 6 months since my last CLI (which was $3,000). I was denied with the following reason:
"Recent use of this account's existing credit line has been too low".
Since my increase to the $6,800 CL, I've put around $1,000 of charges onto the card for 3 of the months. 2 months had only $300 in charges. In the last month, I put around $3,000 in charges onto the card, but paid over $2K of that before the statement was produced. This was to avoid Capitalone reporting that $3K to Experian/Equifax/Transunion and negatively affecting my Fico scores. I've always paid in full each month.
I have a few questions:
1/ Does anyone know if there is a threshold that must be hit, before Capitalone will consider a CLI and what is that threshold?
2/ If I pay off the balance before the statement is produced, are those charges not taken into account when calculating if I have made use of the CL?
3/ Do I now need to wait 6 months before requesting another CLI?
4/ Is it likely that a CL of $6,800 is the maximum CapitalOne will give?
I've read on many threads that Capitalone are notorious for giving low CLIs, and for sticking to low CLs. I'm trying to increase my available credit, without applying for new cards, to avoid negative impacts on my Fico scores. But, if it is unlikely that Capitalone will increase my CL any further, then I may apply for a new card.
Thanks in advance everyone!
It's OK to pay in advance. The amount of your statement balance won't matter.
Your spending appears to be a little low at this point. I think 3k per month for three or so months will likely generate a 3k offer.
Your limit may be too high to be offered less than 3k. I recently tried to trigger a small CLI so I could have a limit ending in three zeros. $600 would have accomplished that. I spent at a rate that triggered 1k offers in the past. But this time around, I was denied twice for the same reason you were. The following month, I was offered 3k. So I took $2,600 and achieved my three zeros.