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Hello All!
This is long...sorry. About 2 1/2 yeara ago i had a 600 credit score and a chargeoff. I cleaned up my credit, got a capital one card and a credit one card. the limits were like $500 each. I used them and over time got auto increases. always paying the balance off monthly. Capital One contacted me and offered to "upgrade" me top the Quicksilver card. I did. they kept giving me reguluar CLIs. They sent me another offer to conver to a Savor One card..I declined. Fast forward. I now have a 802 credit score and my last cars, Apple is at $15,300 CL, SoFi $10,500 CL, Amex Blue $1,000 CL. My Cap One Quicksilver is at $2500, bt has been stalled for about a year. They keep denying the CLI request because "Recent use of this account's existing credit line has been too low.". So last month I ran it up to the limit, then paid it in full before the end of the statement. Applied for a CLI and got the same thing. So I did the same thing this month. Expecting the same result. My APR is %25.24 which is insane. I asked them to lower it..denied. On th flip side, my Apple is %14...I think my So-Fi is %13 and I got a pre-approval from nasafcu at %10. So should I keep doing this and see if they gve me a CLI? Should I apply for a new Cap 1 card and close this one? Should I just look at different CCs altogether?
welcome and sorry to hear about the stalled CL on the Cap1
i would keep it open as it is your oldest card
the best chance of you getting a CLI is to use it repeatedly for 3 -4 months - use the entire limit - make multiple payments - rinse and repeat
then ask for a CLI
this process may or may not work, as some cards do just get Stuck at a certain CL
but if you really want to grow it, then this is the path to try
if it doesn't work, keep using the card every 6 months so that it has some activity - but focus on your other cards and other limits, as it may just never grow
good luck to you !
@DaWhole9 wrote:Hello All!
This is long...sorry. About 2 1/2 yeara ago i had a 600 credit score and a chargeoff. I cleaned up my credit, got a capital one card and a credit one card. the limits were like $500 each. I used them and over time got auto increases. always paying the balance off monthly. Capital One contacted me and offered to "upgrade" me top the Quicksilver card. I did. they kept giving me reguluar CLIs. They sent me another offer to conver to a Savor One card..I declined. Fast forward. I now have a 802 credit score and my last cars, Apple is at $15,300 CL, SoFi $10,500 CL, Amex Blue $1,000 CL. My Cap One Quicksilver is at $2500, bt has been stalled for about a year. They keep denying the CLI request because "Recent use of this account's existing credit line has been too low.". So last month I ran it up to the limit, then paid it in full before the end of the statement. Applied for a CLI and got the same thing. So I did the same thing this month. Expecting the same result. My APR is %25.24 which is insane. I asked them to lower it..denied. On th flip side, my Apple is %14...I think my So-Fi is %13 and I got a pre-approval from nasafcu at %10. So should I keep doing this and see if they gve me a CLI? Should I apply for a new Cap 1 card and close this one? Should I just look at different CCs altogether?
Clarification question:
This card is less than 3 years old?
It's probably bucketed and won't grow much/at all. Sorry. I'd focus on your other cards instead.
@dragontears wrote:
@DaWhole9 wrote:Hello All!
This is long...sorry. About 2 1/2 yeara ago i had a 600 credit score and a chargeoff. I cleaned up my credit, got a capital one card and a credit one card. the limits were like $500 each. I used them and over time got auto increases. always paying the balance off monthly. Capital One contacted me and offered to "upgrade" me top the Quicksilver card. I did. they kept giving me reguluar CLIs. They sent me another offer to conver to a Savor One card..I declined. Fast forward. I now have a 802 credit score and my last cars, Apple is at $15,300 CL, SoFi $10,500 CL, Amex Blue $1,000 CL. My Cap One Quicksilver is at $2500, bt has been stalled for about a year. They keep denying the CLI request because "Recent use of this account's existing credit line has been too low.". So last month I ran it up to the limit, then paid it in full before the end of the statement. Applied for a CLI and got the same thing. So I did the same thing this month. Expecting the same result. My APR is %25.24 which is insane. I asked them to lower it..denied. On th flip side, my Apple is %14...I think my So-Fi is %13 and I got a pre-approval from nasafcu at %10. So should I keep doing this and see if they gve me a CLI? Should I apply for a new Cap 1 card and close this one? Should I just look at different CCs altogether?
Clarification question:
This card is less than 3 years old?
Yes it's less than 3 years old. Will be 3 years in December.
@OmarGB9 wrote:It's probably bucketed and won't grow much/at all. Sorry. I'd focus on your other cards instead.
^This. My Capital One is also stuck at $2500. They were the first lender to give me a $2K limit during my rebuild. I got another $500 from them and that's it. I ask for a CLI when I think about it but I expect nothing more from the account. I keep it around because it's one of my oldest cards and it has no FTF or AF.
I wouldn't close a card that's not costing me anything to keep.
If I got to the point where I had so many cards they were difficult to manage and I was trying to thin the herd, I might consider it then, but I'm nowhere near that point yet.
@DaWhole9 wrote:They sent me another offer to conver to a Savor One card..I declined.
I would love to be able to product change my Quicksilver to a Savor One. I have several cards that give me 2% back on everything. So the 1.5% from the QS isn't really helpful. The S1 is something I could use but don't really want to add an inquiry and new account to get it.
My Venture One has been stuck at its current limit for almost 4 years. Even when I was using it frequently (it was my only travel card for a while), it didn't grow any more than where it is - which is only that high from account combinations.
I've moved on from Cap One. I refuse to close the card because of the history and length of time it's been open, but it is sock drawered. It gets one purchase every 6-12 months, and that's it. If they ever decide to close it, I won't be upset.
My suggestion is if you can obtain something that better suits your needs, apply and move on. Between the lack of growth and triple pulls for new credit, I think you can do better than Cap One.
@DaWhole9 wrote:Hello All!
This is long...sorry. About 2 1/2 yeara ago i had a 600 credit score and a chargeoff. I cleaned up my credit, got a capital one card and a credit one card. the limits were like $500 each. I used them and over time got auto increases. always paying the balance off monthly. Capital One contacted me and offered to "upgrade" me top the Quicksilver card. I did. they kept giving me reguluar CLIs. They sent me another offer to conver to a Savor One card..I declined. Fast forward. I now have a 802 credit score and my last cars, Apple is at $15,300 CL, SoFi $10,500 CL, Amex Blue $1,000 CL. My Cap One Quicksilver is at $2500, bt has been stalled for about a year. They keep denying the CLI request because "Recent use of this account's existing credit line has been too low.". So last month I ran it up to the limit, then paid it in full before the end of the statement. Applied for a CLI and got the same thing. So I did the same thing this month. Expecting the same result. My APR is %25.24 which is insane. I asked them to lower it..denied. On th flip side, my Apple is %14...I think my So-Fi is %13 and I got a pre-approval from nasafcu at %10. So should I keep doing this and see if they gve me a CLI? Should I apply for a new Cap 1 card and close this one? Should I just look at different CCs altogether?
Here's my philosophy regarding Cap 1's credit cards:
If they have an annual fee and the rewards don't warrant paying it (or Cap 1 won't credit it), drop them like a hot potato.
If they have no annual fee, keep them...even if they don't grow.
I think at this point Cap 1, for the most part, is like the girl you crushed on in school who won't give you the time of day.
You can keep hoping that you'll catch her eye...but in the meantime, the girls who want you go unnoticed.
With so many better cards that actually do grow out there, I wouldn't lose any sleep over Cap 1. Just move on if they aren't meeting your needs or wants.
I must be bucketed and im not sure if i want to continue to try with this one. Started at $500, went up to about $1000 and they converted me to Quicksilver and now its $2500. In about 2 years. Perfect payment history. My credit score was 690ish at first now 800ish. I was putting about $300 a month on the card and paying in full wach month. 3 months ago I started putting 2300-2500 on it and paying in full. Still get the denial that say my usage for the card is too low. I now have a few cards over $10000 in CLIs and others I wanna grow like AMEX and Discover. Should i just call it quitson trying to work with Cap 1? I have called and all they say is "well the system will approve you when you meet the criteria.". They did say the CLI system may be a few months behind in showing usage. So maybe 4-6 months of high activity MIGHT make a difference. Ideas?