Capital One luv button obsession!

[skorpyo3]

We don't know this for a fact, but I do appreciate Jaime's feedback.

[LX25]

  I have had my capital credit cards since March 2015. CL was $1000 each for the Platinum and the QS. However , today I decided to try the  love button and to my astonishment. The credit  steps dont increase automatically until that 6th statement in October 2015. However I was given an additional $1000.00 credit limit for both accounts, now I have a total overall with the cards $4000.00. I then applied yesterday for the  Sony Visa and was approved for $500.00.  Capital one has been a life saver of new credit history. Comenity bank also is very generous with their credit limit. Store cards  along with  Capital One cards , I am 40K revolving credit ,  and my chapter 7 was just discharged in April 2015. wooooo . very happy.

[SouthJamaica]

I have found the Cap One luv button to be a waste of time unless you've hit a 6th statement cut.

But usually they give me an auto CLI just before or just after the 6th statement cut, so they usually beat me to the punch.

[Anonymous]

From my experience with Cap One, the cards that get used and get large payments made on them have luv botton success every 6 months. The ones I don't use and make large payments on get nothing. They like to see you use the card and either PIF or make much larger than minimum payments. Hitting the luv button often is not the way to get there.

[Anonymous]

me too, the only increase ive gotten is at the 3 month mark but i still hit it(thats what she said ha)

[Erusidhion]

    I've read people getting a CLI during their 2nd statement. It's probably pretty rare but it has happened on myFICO before. So with that in mind I am probably going to hit the credit limit increase button once a month after a statement generates. I just got two new cards so will be hitting it after the second statement cuts and once a month until a CLI. And if a CLI does happen, I'll wait 2 statements from the CLI and hit it again until I get another CLI.. It seems that the general rule with Capital One seems to favor a 90 day wait; so 3 statements.

    If you're hitting it every day or once a week; it's probably too much. We really should have master threads for every issues/card with information about general stuff like this. If I weren't so busy at work maybe I'd work on something like that. A Master Capital One/Discover thread would be great to reference and update.

    Good luck to everyone on your future CLIs!

[sgs71]

It's so tempting to press it.....I refrain, but I look at it at least once a day lol

[Anonymous]

Calculating by statements my 3x increase would be aligned with 11 days after the 3rd statement with heavy usage and multiple small payments ($200-400).

I agree the usage will grant the increase when you are paying the balances throughout the month or PIF.

[Anonymous]

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@Erusidhion wrote:

    I've read people getting a CLI during their 2nd statement. It's probably pretty rare but it has happened on myFICO before. So with that in mind I am probably going to hit the credit limit increase button once a month after a statement generates. I just got two new cards so will be hitting it after the second statement cuts and once a month until a CLI. And if a CLI does happen, I'll wait 2 statements from the CLI and hit it again until I get another CLI.. It seems that the general rule with Capital One seems to favor a 90 day wait; so 3 statements.

    If you're hitting it every day or once a week; it's probably too much. We really should have master threads for every issues/card with information about general stuff like this. If I weren't so busy at work maybe I'd work on something like that. A Master Capital One/Discover thread would be great to reference and update.

    Good luck to everyone on your future CLIs!

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I just got a CLI from 1k to 5k on my QS1 two weeks after my second statement. I used it heavily and made multiple large payments each month for about two statements. Then I stopped using it altogether. After a couple of weeks with no activity, I got a CLI. (BTW, I was a frequent luv button pusher, at least twice a week).

[Anonymous]

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@Anonymous wrote:

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@Erusidhion wrote:

    I've read people getting a CLI during their 2nd statement. It's probably pretty rare but it has happened on myFICO before. So with that in mind I am probably going to hit the credit limit increase button once a month after a statement generates. I just got two new cards so will be hitting it after the second statement cuts and once a month until a CLI. And if a CLI does happen, I'll wait 2 statements from the CLI and hit it again until I get another CLI.. It seems that the general rule with Capital One seems to favor a 90 day wait; so 3 statements.

I just got a CLI from 1k to 5k on my QS1 two weeks after my second statement. I used it heavily and made multiple large payments each month for about two statements. Then I stopped using it altogether. After a couple of weeks with no activity, I got a CLI. (BTW, I was a frequent luv button pusher, at least twice a week).

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 90 Days and heavy use (above reasonable ie 50% CL with 4-5x min payoffs two to three times a month. I think that is the magic formula for Capital One. Although adding the factor of no longer using the card might be in there as well. I too had stopped using them as of last month and just carrying my interest free 25-50 day balance (PIF before next statement trick).  Last charges and balance of $150 just riding though to the first of next month for fun at this point.