@Anonymous wrote:
@Anonymous wrote:
@chiefone4u wrote:
Do you PIF before or after statement cuts? (Is your statement printing $495, $5 or $0? Exact not needed).... if your statement is always zero or always $495 the computer is most likely seeing no usage / no payment ($0 statement); or seeing insufficient payments to reduce debt (statement near max).
The above is purely theoretical, but fits with the reason codes I've seen and your denial and explanation.
The CapOne computer knows how much OP is spending each month. The amount reported doesn't matter.
This is my main problem with CapOne starter cards - low limits that don't grow unless massive spending is put through the card, which in this case would require cycling the limit a couple times a month, all in the hope that one will get a piddly increase of a hundred bucks or so. It's lost on them that although their idea of a business plan is great to them - sell off the subprime debt and the customer can just take another triple pull for a "better" card...which still usually falls short of other lenders' cards available with fewer pulls - most who are credit-savvy see this as ridiculous and just move on. Obviously their customer base is still huge but it seems it could be even bigger if they looked at things another way.
Anyway, sorry to digress - if your card is bucketed, it'll likely never grow much beyond its steps CLI.
I am actually not convinced that their system uses any balance and not statement balance. There are some banks that do work like this (Target is a really good example) where people who cut $0 statements never get a CLI. I have seen this complaint of getting this reason for denial from Capital One often enough from people who pay before the statement cuts that it does make me wonder if the reason why starter cards never grow is because people don't let them report. My $300 card grew to $8250 and then got the SD treatment but I never actually paid before the statement cut unless I was paying multiple times a month like I had to do with the $300 limit but it never cut with a $0 balance since I had a roommate who went grocery shopping multiple times a week.
Interesting. On the other hand I've carried a balance on mine almost the whole time I've had it, approaching two years, and I've gotten exactly one increase after the steps, from $500 to $600. My reason codes are usage isn't enough, pAymebts aren't enough, and the like. I suppose it's possible that the hybrid of my experience and yours - use the heck out of it and pay it almost off, month after month - may be the way it takes to get increased.
That being said, I'll likely let mine idle and pursue the better rewards of Amex and Disco in my spending.
