CLI - How long will it take?

[Anonymous]

Hey Everyone,

I'm thinking about asking for a CLI with Cap One because they have sent me some purchase checks (or cash advance checks) and I need 4 new tires for my car.  My current CL is 1000 but the tires w/installation is going to be around 400 and I don't want to show I'm using half my CL.  How long will it take for a CL increase?  The checks expires Oct 18.  Thanks! 

[John060675]

Call them and explain the situation.  Your question has so many variables that it is impossible to say a timeframe.  Such things as:  how long your account has been open, when your last CLI was, payment history, current FICO situation when they do a soft pull, etc..

Cap 1 usually does not do a CLI upon request, but if you explain your situation and maybe do a little begging, then they will.

[Anonymous]

How long have you had the card?

[Anonymous]

I've had the card about 3 years now.  I've never had a CLI with Cap One but I've also haven't used the card within the past year.  When I got my other CC with better rewards I've stopped using it but since these checks have great APR and no fees I want to use the Cap One.

If it's going to be an ordeal with them I rather not try.  I'm going to pay the balance off completly in Jan 08 anyway.  That's only 2-3 months of APR and min monthly payments.

[Anonymous]

Definitely call them.  Especially explaining that you have not had an increase in this time frame and would love to take advantage of the special offer but are afraid that the limit on the card wll preclude you from doing so.  Don't tell them how much you want to spend because you have plenty of limit for your purchase, let them know that you would like to make a purchase for an amount larger than you would put on the card at its current limit.

Cap1 likes to see you maxed out, its a turn off for other lenders. One of the side effects of their previous non-reporting of limits.

[Anonymous]

Ok everyone, I called Cap One today and asked for the CLI, following Brammy's advice, and they denied it.  I'm ok with it.  They asked me if I had other CCs and I do (I couldn't lie) one with a 1500 CL and another with a 4200 CL.  They probably denied me because I haven't used the Cap One card in over a year and regularly use the 4200 CL card (it has cash back rewards, not a puny crap reward program Cap One has).  I'll probably use one check anyway just to pay for the tires and make mins each month and pay the sucker in Jan 08 as originally planned.

[Anonymous]

You know what is the easiest way to get the cli, tell them you want to close that account

[Anonymous]

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@Anonymous wrote:

You know what is the easiest way to get the cli, tell them you want to close that account

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yup, telling them you want to close the account, normally does the trick. This has happened to me on several occasions - many of which I really did want to close. But instead I would get a CLI, lower APR, and other incentives. This has happened with BOA and Chase.

[Anonymous]

To be honest, I don't want to be bothered with Cap One again.  I'm just going to use the check, pay it off in Jan and forget about them like I've done in the past.

[Anonymous]

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hunting_bears wrote:

Ok everyone, I called Cap One today and asked for the CLI, following Brammy's advice, and they denied it.  I'm ok with it.  They asked me if I had other CCs and I do (I couldn't lie) one with a 1500 CL and another with a 4200 CL.  They probably denied me because I haven't used the Cap One card in over a year and regularly use the 4200 CL card (it has cash back rewards, not a puny crap reward program Cap One has).  I'll probably use one check anyway just to pay for the tires and make mins each month and pay the sucker in Jan 08 as originally planned.

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Sorry it didn't work out for you... Cap1 can be stingy and it looks like they are being stingier still since they started reporting limits.  Funny that they asked if you had other cards but still didn't up you.  Guess they don't care whether customers stay or go.