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Woo Hoo !!!! Reached my Capital 1/QS CLI Goal!

Aim_High
Senior Contributor

Woo Hoo !!!! Reached my Capital 1/QS CLI Goal!

I've been working my Capital One card for higher limits for MANY years.  For those of you with Capital One, you know how that goes.  It's like watching paint dry to get CLI's with them, but I was determined.

 

But tonight ... Woooo Hoooo !!!! 

Final $3K CLI to bring my CL to $25,000Smiley Very Happy

And that card started at only $1K!

 

A little history.  My card started out as a Capital One Platinum Visa on 03/03/2009, so just turned 11 years old.  Back then, I was carrying huge five-figure debts and was planning to use it for a BT offer.  I was shocked and insulted with the super-low $1K SL, which was well below the $5K or better on my other cards.  And it was essentially useless for my BT intention, so I sock-drawered it.  A few years later, after the Quicksilver card came out, I PC'd the Platinum to QS and began to work on growing it while taking advantage of the (at the time industry-leading) 1.5% cash back.  Even with use, I was frustrated it only grew $1K or $1.5K at a time, eventually reaching $3K CLIs before that became the best I ever got.

 

Along the way, I learned the Capital One Credit Line Increase "rules".  

  * You get no more than one increase every six months.  (The clock starts when you get an increase, not when you request it. So you can hit the "luv" button all want.  I didn't always push for another increase every six months, but I probably should have set a reminder.)

  * All CLI's are automated, requested online.  There is no one in underwriting to talk to or appeal to.

  * The good news: All CLI requests are soft pulls. 

  * Expect small increases.  $1K to $3K seems common, regardless of usage.

  * You will *ONLY* get an increase on a card you've been using regularly, usually for at least 3-4 months immediately prior to the request.

  * On this last increase, it appears to me it might have helped my case if I had not PIF before statement cuts.  I had some statement cuts at $0 which I think may have delayed my approval.  If you want an increase, I'd suggest making the card your daily driver for most things and allow statements to post with a balance due for three months straight at a minimum.  This last increase took me 4.5 months and five statement cuts. 

 

My goal has been to get all my cards up to a minimum credit line of $25K.  I started my last push for CLI on 10/29/2019.  I did not use it for all my charges since then, as I had other priorities and didn't want to sacrifice too much other cash-back to put spend on the QS.  To run up some larger balances, I even took advantage of a couple of BTs at the $0 BT fee (at my published APR) which I paid off immediately.  Along the way, I applied for CLI about six or eight times and kept getting denials.  I was beginning to think I had hit a brick wall and give up for now.  I even kept changing my requested amounts, reasons for CLI, etc just to see if that helped.  It didn't seem to matter.  Denial reasons were always "use of existing CL has been too low."  Finally tonight, I asked again and .... voila!!  My $3K increase was approved! 

 

I didn't really "need" the increase nor do I plan to spend much on this card in the future.  It's just been a goal to get it to $25K with my other cards (and I like having the utilization padding.)  After many new apps in last 12 months, I have five other cards still below $25K now and they will be targeted in the next year or so.   (Marriott and Hyatt were approved at $33K/$30K but sit at $10K now after credit line reallocation to other Chase cards.  I hope to grow my NFCU Platinum from $10K after pushing through a BT at 98% utilization, then paying it down quickly.  My other targets are my PenFed Power Cash at $15K and Apple card at $20K.)

 

Super happy about this Capital One CLI, though, since it's been such a long-term goal and so difficult to achieve!!

 

Note: For those interested in even

more Data Points, I put together a

little more analysis and posted in

Message #34 of this thread.

Cheers! Smiley Happy  @Aim_High

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Woo-Hoo-Reached-my-Capital-1-QS-CLI-Goal/m-p/...



Length of Credit > 35 years; Total Credit Limits > $500K
AoOA > 28 years (Jun 1993); AoYA (Aug 2020); Gardening since 08/15/20.
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
36 REPLIES 36
AllZero
Super Contributor

Re: Wooo Hooo !!!! Reached my Capital One Quicksilver CLI Goal!

Congratulations on your CLI!

Message 2 of 37
AllZero
Super Contributor

Re: Woo Hoo !!!! Reached my Capital 1/QS CLI Goal!

That was a great read. Thank you for sharing your data points! I'm happy for you that you're able to reach your CL goal.

Message 3 of 37
Aim_High
Senior Contributor

Re: Woo Hoo !!!! Reached my Capital 1/QS CLI Goal!


@AllZero wrote:

That was a great read. Thank you for sharing your data points! I'm happy for you that you're able to reach your CL goal.


Thanks, @AllZero !  It feels good to finally reach that milestone after all these years!   And I hope it gives others inspiration and help in reaching their own credit limit increases with Capital One!  It seems to me they are one of the pickiest lenders to get a CLI from and they really make you work for it! 



Length of Credit > 35 years; Total Credit Limits > $500K
AoOA > 28 years (Jun 1993); AoYA (Aug 2020); Gardening since 08/15/20.
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 4 of 37
M_Smart007
Epic Contributor

Re: Woo Hoo !!!! Reached my Capital 1/QS CLI Goal!

@Aim_High  ..Congratulations!

Message 5 of 37
M_Smart007
Epic Contributor

Re: Woo Hoo !!!! Reached my Capital 1/QS CLI Goal!

WooHooSmileyWave-vi.gif

Message 6 of 37
Mv350
Valued Contributor

Re: Woo Hoo !!!! Reached my Capital 1/QS CLI Goal!

Congratulations on your success! Determination definitely paid off!!!!

Message 7 of 37
Traveler101
Frequent Contributor

Re: Woo Hoo !!!! Reached my Capital 1/QS CLI Goal!


@AllZero wrote:

That was a great read. Thank you for sharing your data points! I'm happy for you that you're able to reach your CL goal.


+1 Congrats OP!

Message 8 of 37
seattletravels
Valued Contributor

Re: Woo Hoo !!!! Reached my Capital 1/QS CLI Goal!

That's a super impressive CL build over the life of that card! 1k-25k! Congrats!



Last App: BECU 02-26-2020
Pronouns: He/Him/His
Message 9 of 37
mikesonthemend
Valued Contributor

Re: Woo Hoo !!!! Reached my Capital 1/QS CLI Goal!

That's great. Congratulations!




Living through Darwinism is so much worse than learning about about it in school.
Message 10 of 37
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