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How NOT to get a CLI from Capital One

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mgood
Valued Contributor

How NOT to get a CLI from Capital One

In my thread about the CLI I did get on my Cabela's card - https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Cabela-s-Capital-One-CLI/td-p/6564573 - I mentioned that I also asked for a CLI on my Quicksilver. I got the "Request recieved . . . 2-3 business days . . . " answer. Today I received the official answer: "Recent use of this account's existing credit line has been too low"

 

This is how I've used the card since the last CLI ($500 boost up from $5350 to $5850 in January):

Feb spent $500.00. Statement balance $0.
Mar spent $808.65. Statement balance $0.
Apr spent $400.00. Statement balance $0.
May spent $8.65. Statement balance $0.
Jun spent $8.65. Statement balance $0.
Jul spent $660.00. Statement balance $0.

 

Apparently that's not enough. What's the current theory? You need to spend 35-40% of your limit in a 3-month time or something like that? $500+808+400 is 29% of my current limit. I don't see spending more than that on this card any time soon.

 

I was declined last July and, though I tried each month thereafter, it ended up being a full year before I got a CLI. You gotta love Capital One. It may be a very long time before I use this card enough to get another CLI. Oh well, sock drawers need cards too.



Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 778, TU8 766, EX8 770 as of April 22
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Message 1 of 16
15 REPLIES 15
OmarGB9
Community Leader
Super Contributor

Re: How NOT to get a CLI from Capital One

I think the old adage is to spend 30-40% of your limit *each* month for 3-6 months, not 30-40% of CL total averaged over three months. But I could be wrong.

 

In any case, I don't believe it. I pretty much just think Cap One CLIs are random at this point. 


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Message 2 of 16
tmax2020
Valued Member

Re: How NOT to get a CLI from Capital One

I'll tell you, over utilization, carry balance. When they make money off you from intrest charges as a result of carrying balances. Then they become generous to you and they don't like people with good credit profile at all. Do not ask them for CLI, they will increase when they want to.

Message 3 of 16
RehabbingANDBlabbing
Established Contributor

Re: How NOT to get a CLI from Capital One


@tmax2020 wrote:

I'll tell you, over utilization, carry balance. When they make money off you from intrest charges as a result of carrying balances. Then they become generous to you and they don't like people with good credit profile at all. Do not ask them for CLI, they will increase when they want to.


I agree with this. My DH got the SavorOne via a pre-approved offer about 2 years ago. He got an SL of $1k. We used that card for about $2k a month for a year, always PIF-ing. During that time, he got a total of $200 in increases, which was two separate $100 CLIs. Since then, he has gotten the AmEx Gold card. Crap1 is in the sockdrawer. It's a bucketed card. We will keep it until his credit is clean and then likely close it.

Message 4 of 16
DaWhole9
Regular Contributor

Re: How NOT to get a CLI from Capital One

This is what worked for me.  

 

I have a Cap 1 Quicksilver that had a $2500 CL.  It was stuck there for about 2 years.  I used it for maybe $500 a month and paid it off.  I got the exact same declines every time.   So I put $2300 spend on it every month for 4 months.  Paid off in full every month.  I hit the CLI request not expecting anything, but got approved for a $5500 CL...so a $3000 CLI.  



Message 5 of 16
Lou-natic
Established Contributor

Re: How NOT to get a CLI from Capital One

From my experience I got CLIs from Capital One a lot more often when I used the card heavily and carried a balance.

 

I know, I know.

 

Since I stopped carrying balances I have not got a single CLI from Capital One on either of my cards. Where other lenders tend to reward good behavior I don't think Capital One does in the same way. At least that's what I have gleaned from my experience with them. They want to make money off of you and you having to pay a little interest on your account seems to perk them up a bit. I'm not saying to max the card out but at the same time I recieved my largest increases when I was carrying a balance month to month on their cards.

 




3/3/24
Message 6 of 16
GatorGuy
Valued Contributor

Re: How NOT to get a CLI from Capital One

I have received many auto CLIs and requested CLIs from Capital One and can assure you there is zero need to carry a balance.

 

However you do need to use 40% of the CL consistently. 

 

 

Message 7 of 16
babygirl1256
Senior Contributor

Re: How NOT to get a CLI from Capital One

@mgood Yep, time for the sock drawer!!! Smiley Wink

Starting FICO 8 Score in 06/2019: EQ-625, TU-649, EX-640
Current FICO 8 Score in 06/2021: EQ-796, TU-806, EX-812
Goal FICO 8 Score in 06/2022: EQ-825, TU-850, EX-850
Message 8 of 16
JtAlmond
Valued Member

Re: How NOT to get a CLI from Capital One

I got denied a CLI 3x on my Quicksilver card over these past three years.  I've gotten 5 other cards since getting my QS card.  It presently has a negative $101.53 balance and is locked due to ongoing and recurrent fraudulence.  It sits at the bottom of my sock drawer.  Today I found C1 auto'd me a $1500 raise.  It would have been nice if Wells Fargo would follow suit and give me a raise that I will actually have some use for.

Message 9 of 16
Jnbmom
Credit Mentor

Re: How NOT to get a CLI from Capital One

For me it's just being ME they never have given me any LUV no matter how I used my card . I closed mine a few years again and never looked back .

EXP 780 EQ 791TU 795
Message 10 of 16
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