Got my Capital One CLI today, not what I expected...

[MyLoFICO]

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@JustBPatient wrote:

Or why not app for a non CAP1 product and let QS breathe for a while!!

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^^This. A triple pull is not worth it. 

[kidink1911]

Congratulations!

I wish I could get a CLI on my Cap One QS! I would be happy and run into the sunset 

CSP- $8,000 *** Cap One QS- $3,550 *** Barclay JetBlue MC- $3,000 ***  Synchrony Walmart MC- $2, 400 *** BOA Travel Rewards- $2,000

Barclay Apple Rewards- $2,000 *** BP Gas- $600 *** CF- $500 *** Credit One- $450 *** Milestone- $300

[Anonymous]

My initial 6 month cli was much lower than what they offered you. After 1 year, it was more than what expected. I think you did really good for yourself...6 more months it should get even better..Good Luck and congrats on your limit increase!!

[someg33k]

As others have said that is a great increase.

I had a QS with a lower limit and was getting the pretty typical increases every 6 months. Applied for Venture and another QS same day. Venture approved for 15K and QS for another 10K.   Since then I have combined all the cards into one 40K limit.

That is your shortest path to a large increase IMO.

[Anonymous]

I think too often, ppl have been lead to feel that pushing a lot of spend through a card somehow warrants being better QUALIFIED and deserving of a huge UNSECURED debt limit...

Which on it's face makes ZERO sense, it IMO just isn't logical that a person slamming a bunch of spend would somehow make said borrower a better RISK of not going 90 days late on a balance....

And that is the basic tenement of RISK based decision making, will this profile pay me on time and in all fairness
Slamming spend tells me, as an UWer nothing... Except one can churn n burn money through an account

It could be said that, that behavior shows nothing but spending activity but very little in terms of paying back a DEBT, especially a debt of any consequence....

Yeah, yeah I know the 'show em ya need more room' mantra but that can only be so much, at some point real UW has to be involved and a CLI has to be based on something other than ' just give em double or triple'
It's not always gonna be a video game

Just saying let's add a bit of financially prudent decision making from the lenders POV from time to time 😇

[Jerry45]

3k is nice. Congrats!

[Jerry45]

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@Anonymous wrote:

I have used my Venture as a primary card for 18 months and put around $2.5K to $3K on it.  Each of my 3 CLIs have also been $3K, which I am happy with.  However, my starting limit was $30K so I don't really need larger CLIs.  I am also curious to know if anyone has seen larger than $3K CLIs and monthly usage in comparison, but with your starting limit, I would be happy with the $3K.

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Good info Thanks. I have a Venture

[MrsCHX]

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@someg33k wrote:

As others have said that is a great increase.

I had a QS with a lower limit and was getting the pretty typical increases every 6 months. Applied for Venture and another QS same day. Venture approved for 15K and QS for another 10K.   Since then I have combined all the cards into one 40K limit.

That is your shortest path to a large increase IMO.

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Just a note that you can no longer app for two CapOne cards at once. If approved for a card you have to wait 6 months before opening a new account. 

Also so if you don't have a big purchase coming up; go ahead and app for a Venture. It's one more INQ. On each bureau, sure. But still each file is only going up by 1. 

[Anonymous]

Gemini101,

While I can appreciate your perspective and do agree with it in part, I don't think it's completely true.  I don't think that either individual in your example represents any more "risk" than the other.

I can put cup of coffee on a credit card every month and pay it off.  My total spend is $3.

You can put a $2000 spend on the same credit card every month and pay it off.  Your total spend is $2000.

We may both have $10,000 limits on this card.

You can make so many different arguments about these two different spends that you could write an essay on it, but when the dust settles I don't believe that either person is displaying any more or less risk than the other.  The person spending $2000/mo could be considered more of a risk as if both of these individuals were to lose their jobs at the same time it would be reasonable to assume the person with the $2000 tab would have more difficulty getting it paid off the the $3 tab person... however, the $2000/mo spender is showing the ability to pay off a considerably larger debt every month which can be looked at favorably.  Of course the answer to 99 out of 100 questions in life is MONEY, and the person pushing $2000 through their card each cycle is making that creditor more money than the person just buying and paying off a cup of coffee each month, so the creditor is more than likely going to take steps to ensure they continue to make money off of the more profitable customer in this example.  If extending the $2000/mo person more credit via CLI could result in them continuing with that spend or possibly giving them incentive to spend even a little more, it may make financial sense for the creditor to do so.

[MyLoFICO]

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@Anonymous wrote:

Gemini101,

While I can appreciate your perspective and do agree with it in part, I don't think it's completely true.  I don't think that either individual in your example represents any more "risk" than the other.

I can put cup of coffee on a credit card every month and pay it off.  My total spend is $3.

You can put a $2000 spend on the same credit card every month and pay it off.  Your total spend is $2000.

We may both have $10,000 limits on this card.

You can make so many different arguments about these two different spends that you could write an essay on it, but when the dust settles I don't believe that either person is displaying any more or less risk than the other.  The person spending $2000/mo could be considered more of a risk as if both of these individuals were to lose their jobs at the same time it would be reasonable to assume the person with the $2000 tab would have more difficulty getting it paid off the the $3 tab person... however, the $2000/mo spender is showing the ability to pay off a considerably larger debt every month which can be looked at favorably.  Of course the answer to 99 out of 100 questions in life is MONEY, and the person pushing $2000 through their card each cycle is making that creditor more money than the person just buying and paying off a cup of coffee each month, so the creditor is more than likely going to take steps to ensure they continue to make money off of the more profitable customer in this example.  If extending the $2000/mo person more credit via CLI could result in them continuing with that spend or possibly giving them incentive to spend even a little more, it may make financial sense for the creditor to do so.

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I don't know about that. I would love a difinitive answer though. It is very frustrating having spending like this and getting $250 increases. QS is 4900 limit and Spark is 1750. $11775 in 30 days and I have numbers like this going back a year readily available, longer if I take the time to pull the history. The QS1 is 7 years old.