Capital One rejected my CLI request, the the reaosn is weird.

[MountainHiker]

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@xellos2099 wrote:

So i got my card in feburary, wait till july to apply for cli?  if fail try to apply for a new card?

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Think it depends on the data.

What's your fico scores and your current Capital One credit limit?

[xellos2099]

My score was mid 700 ish but in April I decide not to pay my bill before the statement come out to prove i have heavy utilization in hope they will grant my cli so it drop to high 600.  I have a credit limit of $1000 and my monthly usage is between 900-1100.  So in previous month I paid my bill twice so i got low utilization.  

I have no issue paying the bill but the credit is low.  I was consider getting some kind of secure card to help out but the people here seems to be againist it.  

[MountainHiker]

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@xellos2099 wrote:

My score was mid 700 ish but in April I decide not to pay my bill before the statement come out to prove i have heavy utilization in hope they will grant my cli so it drop to high 600.  I have a credit limit of $1000 and my monthly usage is between 900-1100.  So in previous month I paid my bill twice so i got low utilization.  

I have no issue paying the bill but the credit is low.  I was consider getting some kind of secure card to help out but the people here seems to be againist it.  

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Keep the Capital One card you have. With your 700 scores you will receive a decent CLI once pass the 6th month mark. Trust me, it's not you, it's them. Cap1 usually starts everyone with newish or credit with a few marks on it , slowly. They want to see how your financial behavior is before trusting you with higher limits. If they see something weird on your credit reports(you did mention that) just try to update your reports if possible and just keep things moving.  You're doing amazing just keep it up and be patient.

  Btw cap1 normally would start a new account with $500 or less. Receiving a $1000 limit out the gates is a very good sign. Pay your balance in full. Capital One has a history of rewarding cardholders who use their cards a lot. Just watch your utilization and again you'll be fine. I would keep my utilization at 1 to 2% before your statement date reports.

The statement date for Cap1 depends on the number of days in that particular month.

If the month has 28 days then your statement ending date will more than likely be on the 7th. So you need to pay down your balance to achieve a great utilization no later than that date.

Months with 30 days, then the ending statement date is on the 9th. Months with 31 days like May will have a ending statement date on the 10th. Just remember these data points, and anything else you can learn along the way. And don't confuse this with your payment due date.

Personally speaking I like paying my account at least twice per month. More payment activity the better in their eyes. 

Six months from when you got the card you will have the option to either receive a credit limit increase or getting a new card. Or maybe both. I would pull the trigger in the 7th month. Good luck.

[OmarGB9]

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@xellos2099 wrote:

My score was mid 700 ish but in April I decide not to pay my bill before the statement come out to prove i have heavy utilization in hope they will grant my cli so it drop to high 600.  I have a credit limit of $1000 and my monthly usage is between 900-1100.  So in previous month I paid my bill twice so i got low utilization.  

I have no issue paying the bill but the credit is low.  I was consider getting some kind of secure card to help out but the people here seems to be againist it.  

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Just FYI, you don't need to do that. They can easily see how much you spend monthly regardless of what the final statement balance is.

[cocotower]

Nobody uses those insignificant bureaus, so don't promote them.

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@Anonymalous wrote:

You might need to check some of the alternate credit bureaus, like LexusNexis or Innovis. But I'd call them first, and try to find out what exactly they want.

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