Capital One Quicksilver One Credit Limit Increase?

[abelbarraza3]

Hello,

I am currently rebuilding my credit. I was as low as 486 at one point with a 90 day restriction on my quicksilver one card that got removed last year in July. I am currently sitting in the 580's. I have been using this card heavily. For the month of March I paid/spent 3k towards it. For the month of April I spent/ paid $4,100. For the month of May so far I have spent/ paid $4,800. The credit limit is 2k. So I am maxing out and paying off before the end of the billing cycle. So it does not report a maxed out card. When should I expect/ask for a credit limit increase? I am kinda tired of constantly maxing the card out. Any speculations how much of an increase I could expect with that much usage?

[blindambition]

As someone stated in your other thread, you are on Cap One's naughty list. Continue to do what you are doing. I'd ask for CLI after 6 months of that kind of spend, but there's no knowing on a flagged account. As for CLI, it could be $0, $100, $300, or $3000.... Cap One is a riddle when it comes to a CLI... Good luck cracking that riddle!

[dragontears]

From what I have observed, a returned payment puts you in the "credit doghouse" for CLI for at least a year with pretty much every lender. Couple that with lates, you have awhile to go....

[Curious_George2]

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@blindambition wrote:

As someone stated in your other thread, you are on Cap One's naughty list. Continue to do what you are doing. I'd ask for CLI after 6 months of that kind of spend, but there's no knowing on a flagged account. As for CLI, it could be $0, $100, $300, or $3000.... Cap One is a riddle when it comes to a CLI... Good luck cracking that riddle!

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Yep. But there is an annoying pattern. People who request CLI's generally get the small ones. This year, the big $3k increases have all (or almost all) been automatic. So the formula is something like this: Get off naughty list + Don't have bucketed card + Super heavy spend like OP + Continue that for several months + Don't request CLI + Random luck of the draw = Large auto CLI. 

[tparks5961]

Quicksilver 1 is normally a buckted card.

My card started with a $300.00 limit and was the first card during my rebuild.  The card after 4 years has grown to $1500.00.

I wouldn't bother maxing the card and paying it off as it will only bring you frustration down the line.  That's too much work for a card that will never grow.. Use it as a stepping stone for better cards as your profile improves.  

[jcooks]

The Quicksilver One is def not one that will grow.  I'm stuck at $2500 ever since they increased it from 6 months after opening.  

[Anonymous]

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@abelbarraza3 wrote:

Hello,

I am currently rebuilding my credit. I was as low as 486 at one point with a 90 day restriction on my quicksilver one card that got removed last year in July. I am currently sitting in the 580's. I have been using this card heavily. For the month of March I paid/spent 3k towards it. For the month of April I spent/ paid $4,100. For the month of May so far I have spent/ paid $4,800. The credit limit is 2k. So I am maxing out and paying off before the end of the billing cycle. So it does not report a maxed out card. When should I expect/ask for a credit limit increase? I am kinda tired of constantly maxing the card out. Any speculations how much of an increase I could expect with that much usage?

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Don't get to excited with them as they don't give large increases at alllllllllll.   Maybe 2k or less is what they seem to give.   

[firefox100]

Don't bother with Quick Silver mastercard, I have the card since 2008 and it has been stuck at credit limit of 4.7K for the last 10 years have other cards with credit limits over 20K. See if you can get paypal mastercard from Synchrony they grow fast. Good luck.

[Anonymous]

OP, you might be better off addressing the derogs on your file. With a 580 it sounds like there are several weighing you down. All the spend in the world isn't going to get you high limits with negatives suppressing you that much. Best plan is to spend some of the several thousand a month you're putting through the QS on taking care of those derogs. That'll open you up to more generous lenders.

[abelbarraza3]

taking care of those derogs. That'll open you up to more generous lenders.

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I did have two collections one for $500 and one for $300 that are 2-3 years old. I got the collection agency's to agree to a PFD (I paid on Thursday). So hoping that can bring me back up to the 600s for a possible cli increase. If not then I'll probably have to start looking for a new card.