That's exactly what I'm trying to do. But capital one has made it pretty clear that it will probably never grow. Chase hasn't grown yet, the other card showing any growth is credit one. It's crazy. At least they are offering to more than double my current credit limit with them. I'm not debating they are terrible, all I'm saying is they have grown with me more than capital one or chase. (Granted I have been with credit one longer than the others, and therefore have built more of a relationship, but still)
I'd also be interested in seeing what offer you end up getting in a couple months, unlike you I did actually accept two different 100$ cli offers I shouldn't have.
Yes I have a theory that I'm going to be testing that you shouldn't request an increase with capital one, you should wait until you get an auto increase.
Because I requested an increase every month and the offer never changed from $100. But as soon as I got an auto increase, I got a huge increase. And so I think cap one tries to trick people into taking the bad credit increase, but if you are patient and hold out for a better offer. It will come. (Keep in mind for this strategy to work I believe you need to put a lot of spend on the card, as I believe that is the biggest way to trigger an auto increase with them.
of course the amount of data points I have to support this theory is very small. And this whole idea is in beta testing. But I will continue my strategy until it stops working. If I don't like the offer they give me when I request an increase I will deny it and hold out for a auto increase. ( as it seems cap ones biggest increases are the auto ones, and a lot of the time when you request an increase, you are only offered 10% increases)
so if you have a $4000 credit line and you request an increase you may only get $100-$400 increases, but the auto increases? Those always seem to be much bigger. From all the data points I have seen the auto increases are usually between $2000-$5000, and people have claimed to get auto increases as large as 11k.
Maybe it's because people request the increases before the 6 month mark, so naturally they won't get as much. Maybe it's capital ones plan to give out less credit whenever possible, and only give the real increases when it really benefits them.
I will continue to update the forum on my strategy and results
Very true.
not only is it profile specific but also issuer specific. Discover has been known to give out 2 credit limit increases in the same month.
But yes, With consistent heavy use I have no doubt you can get an offer every 3 months.
in fact I got an offer after 3 months. But all I'm saying is "if you hold off for that 6 month mark, instead of taking the first off you get. You may see much better results, which is exactly what happened to me.
I got my first offer with capital one after the 3rd statement. But the offer was for $100, which is why I decided to hold off. I continued to request after the 4th and 5th statement and the offer never budged from $100. That is when I started to lose hope that waiting would yield better results. I was expecting the 6th statement to come out, and get that same $100 offer, if I was lucky I thought maybe I'd get a $500 increase at most. But the day before my 6th statement posted I got the email that said my limit was raised to $5000, I couldn't believe it at first.
it really depends on your situation, if you are satisfied with the offer you receive after 3-4 months. Take it, I simply told myself that I would never accept a $100 CLI, because in my mind, accepting that offer was not only pointless, but it would also mean giving in. I needed to see if patience, hope, and faith would pay off.