Best Approach to Getting a Capital One CLI.

[ThomasJNewton]

My BF has a Quicksilver with a credit limit of $10,500.00. It started out at $4,500 then increased to $7,500 and last October it increased to $10,500. His current balance on the card is just under $6,000, so he requested a credit line increase, without realizing that his last increase was October, and that they will only grant increases ever six months. He had requested $13,000 (for an increase of $2,500), and plans to apply again in April, after he is at six months, and was curious if he is better served by letting the balance increase by a few thousand before paying it, or paying it now. The statement close date is 20 April, so there is a fair amount of time before he has to pay it off, and either way it will report $0.00. The question is does anyone have a sense if Capital One will be happier to grant an increase if the card gets closes to the limit, or if they look at the overall use during the billing cycle?

[FireMedic1]

Try again next month when it hits the 6 month mark. With Cap1 theres no telling which way it will go. But CLI's have slowed with them in this economy. Look at approvals. Dont see Cap1 hardly at all.

[Anonymalous]

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@ThomasJNewton, nobody really knows. People who get consistent +10% increases (min $100) tend to put at least 30-35% spend on their card. Some say that letting the balance post helps (i.e. carrying the past the statement date, but still paying off by the due date).

But there's been a surge of unusually large Cap1 increases, since just before the start of the year, and they don't seem be following a clear pattern. The SL of my Cap1 QS (formerly a Platinum) was never budged for 18 months despite periods of both low and high spend, and numerous requests. But then they gave me an elevenfold increase, less than a week after I was shot down for too little spend. Mine followed a period of high spend, but other people since have gotten a big increase with essentially no spend. I was also a new file with a bucketed card, my SL was very low, and I never let more than a token balance report.

In general, there's broad agreement that Cap1 likes high spend, and isn't very concerned if you cycle the card (spend more than the limit and pay off multiple times). The lowest of the spend suggestions tend to be in the 30-35% range, but it may be much higher. Right now, they're in a weird period of generosity, but it seems random, and who knows how long that might last.

[masscredit]

I'm rebuilding. Have had multiple Cap1 cards in the past. I'd generally hit the luv button every 6 months. Now I'm back to square one. Have had the Savor One card with a $3K SL for 4 months. I just paused typing this message to visit the Cap1 site to try for a CLI. Got their 2-3 day message.  The question about monthly spending gets me. It could be $3500 or it could be $500. I said $2K. I'm not expecting an increase right now. Might be kind of early in my rebuild.