@kflo01 wrote:I have 2 captial one cards that I am 99% sure are bucketed. I have a GMC Captial one card that never has had a CLI in the 5 years Ive had it. Limit is $500.00 and I have a recently new Quicksliver card that was a #$300.00 limit but was rasied to $500.00 in that standard offer they give. Outside of that no CLI in a year.
The quicksliver is at $0.00 balance now and the GMC card at $280.00. My plan is to pay off the GMC card at the end of the month. Close them both and the the closing post to all 3 CRA then apply again hoping to get cards with higher limits and not bucketed. Do you think this will work. My other cards are average to low balance and overall utl is around 14%.
Id like to get another GM card as I like their points (GM owner). Any suggestions on what to do?
Oddly enough, I kinda-sorta did the same thing last year with CapOne. In April I was approved for their secured credit card with a $1,000 limit, which turned out to be insufficient for my normal monthly spend, so I closed it six weeks later. Six months later, almost to the day, CapOne sent me a pre-approved E-Mail for a Quicksilver card, and when I took the bait, they instantly approved me for $3,000.
I'm not saying this is considered a good way of getting a higher limit, but in my case it worked.
@Anonymous wrote:OP, if you share some info about your profile, we may be able to help more specifically. You may even qualify for better cards that won't triple-HP you for each one.
+1 to this! There are so many better reward structures out there than what Cap1 has to offer. Also, lender diversification is important too. I'm a happy Cap1 customer myself, but that doesn't mean that I would sacrifice cards with better reward structures and far better growth potential down the road for Cap1.
I don't know why you're focused on CapOne, need moreinfo. As already said there are better CC options out there.
@Anonymous wrote:You have to request a CLI every so often. Is it 3 months or 6 months? I forget. But post BK everyone gets a bucketed CapOne card and if you get a second one after a year with them it's normally not bucketed. Most people spam the CLI whenever it's available. My 2nd card did auto CLI after 4 months.
Well that would be interesting. I honestly don't know how CapOne views me; I opened a secured card with them last May and closed it six weeks later; I then opened a Quicksilver with them in December (does this count as the first or second card?), and this in turn means I'll be hitting 4-months in early April. While I certainly don't expect a CLI, or even need one for that matter, it would be a nice surprise. 