Should I try a Venture CLI here?

[vinster95]

Hey everyone! For those who remember, I was approved for the Capital One Venture card at the end of Apirl with a 3k SL. A week later I tried a CLI to 8k and they instantly approved it. I heard you can request them all you want and it wont hurt your relationship or Capital One or anything. Is that true? I also heard Capital One usually approves one CLI every 6 months, but I also heard stories of that not being a set in stone thing. I've run about 4500 through the card in the last 6 weeks, and paid it down to 1500 to leave a little balance. I have a 5000 dollar purchase soon I'd like to have a higher CL for. So thats why I'm thinking about trying the CLI again. Any advice is appreciated! Thanks!

Side note: I want to put 5000 on the card and then pay it off within a month. But the day I have the 5000 dollar purchase is the day my statement cuts and I dont want it to report with like 7000/8000 being used.

[FicoMike0]

I think the cli  is a good idea. If you're going to charge $5000, I'd pay it to zero before. Even 7000/10000 is sporty.

[vinster95]

What do you think I should request? When I requested 8k last time I was scared to back out. Can I request like 15k total and then just back out if they offer me like 10k? Then request again for 14k? Etc... And see what they give? Idk how it works exactly 

[nytokyobred79]

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@vinster95 wrote:

What do you think I should request? When I requested 8k last time I was scared to back out. Can I request like 15k total and then just back out if they offer me like 10k? Then request again for 14k? Etc... And see what they give? Idk how it works exactly 

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You can certainly decline their counteroffer if you wish. And you could conceivably go back and try a lower amount. But I'm pretty sure the algorithm will spit out what it believes is an adequate cl for you. I don't think 14K is going to yield you a better counter offer vs shooting for the moon with 15K. If they want to give you a counter offer of 14k vs a 15K request, they will or they might offer lower. 

As to the cli frequency, it all depends on profile vs their algorithm. Like yourself, I requested an immediate cli within a month of getting my card and it was granted. Since then I've been incredibly fortunate to get cli(s) at 3 month intervals for the past 24 months. I rarely put much spend on the card so my cli's tend to be in the 1-3K range but a cli is a cli. And  I emphasize fortunate bc CapOne can be all over the place.