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Declined Capital One QS SL Increase

Blazon
Valued Member

Declined Capital One QS SL Increase

About two weeks ago, I requested an SL increase for my Capital One QS credit card. Unfortunately, I received a letter in the mail notifying me that my request isn't eligible. The denial reason stated, "Recent use of this account's existing credit limit has been too low." It is apparent now that I will need to increase my usage of this card. This is a key learning for me as I continue to develop and mature my credit usage.

 

My question to the forum is how much should I put on this card each month? Also, how many months should I show usage before my next SL request? This is my lowest credit line at $500. I have had this account for 30 months.

 

Thank you in advance for your advice.








Message 1 of 9
8 REPLIES 8
angelwingz
Valued Contributor

Re: Declined Capital One QS SL Increase

Cap1 is known for this. Since you have a low limit, I'd say put at least 50% (250) on your card for the next 4-5 months and make a couple decent payments per month. Then you could give it another try. Good luck!




My Cards:






Profile Type: New, Thick, 100% Clean
INQ's: EQ: 0 TU: 1 EX: 3 (last 12 mo.)
Recent Accounts: 4 (last 24 mo.)
Total CL: 28.95k Util. 3% AAoA: 1yr, 8mo.
AoOA: 2 yrs, 8 mo. AoYA: 0 mo. 100% PIF.





myFICO Member since: July 21, 2018 | Joined Community: Aug. 17, 2018 | Starting Scores: EQ: 716 TU: 738 EX: 698
Message 2 of 9
Blazon
Valued Member

Re: Declined Capital One QS SL Increase

I appreciate your input. For information purposes, I added $450 this month and paid it off a day before the Statement Date. My card shows a zero balance. In addition, I will plan on using it for my Verizon payment each month. This should cover the usage expense. I will keep the forum posted on my results.







Message 3 of 9
AllZero
Super Contributor

Re: Declined Capital One QS SL Increase

Good luck on your future CLI application!

Message 4 of 9
FireMedic1
Super Contributor

Re: Declined Capital One QS SL Increase

Cap1 likes heavy usage and PIF each month. But that still doesn't always work at times. You got the classic bucket card. Growth will be slow. You can look at other cards like Disco. I had 2 of the buckets. Once my file grew and scores went up. I went with their higher tier cards and eventually shut the buckets down.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 5 of 9
Blazon
Valued Member

Re: Declined Capital One QS SL Increase

I agree with your assessment of being bucketed by Cap 1. They recently upgraded me from the Cap One Platinum Card to the QS. During this time, I received a pre-approved offer for an additional QS card. I was very hesitant to accept offer knowing they would ding me an inquiry on all 3 CRA.

 

One of my objectives at this time is to increase existing credit limits without hard pull inquiries. With respect to Discover, I have been to their site and received pre-approval for 3 different cards at 13.49%. I wanted to hold off until April / May time frame. This would make it 6 months from my last CC approval at BBT. Based on other forum members with similar data points to mine that Discover does offer pretty decent SL.  The Discover Card is definitely on my target list.








Message 6 of 9
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: Declined Capital One QS SL Increase

After no growth for 4 years, I cycled both of mine 3x for 3 months. Got near 100% increase on both.

 

Heavy use for 3 months in a row will get you what you want.




Message 7 of 9
Morehouse3000
Frequent Contributor

Re: Declined Capital One QS SL Increase

You need to put alot of spend on it for at least 4 months min before they will budge.   They are real strict on giving out CL for those who barely use it.   They like lots and lots and lots of spend.   


@Blazon wrote:

About two weeks ago, I requested an SL increase for my Capital One QS credit card. Unfortunately, I received a letter in the mail notifying me that my request isn't eligible. The denial reason stated, "Recent use of this account's existing credit limit has been too low." It is apparent now that I will need to increase my usage of this card. This is a key learning for me as I continue to develop and mature my credit usage.

 

My question to the forum is how much should I put on this card each month? Also, how many months should I show usage before my next SL request? This is my lowest credit line at $500. I have had this account for 30 months.

 

Thank you in advance for your advice.


 

Message 8 of 9
M_Smart007
Epic Contributor

Re: Declined Capital One QS SL Increase

Good Luck OP!

Message 9 of 9
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