CLI request timing

[FiveOhFour]

I have a 760-820 fico score no negatives and pay in full 99% of the time, I haven’t paid in full the last 2 months to get my balance up to request a cap 1 CLI on my quicksilver card with a $10,000 limit. I’ve got about $6,000 usage on it now. I should wait until I pay it off I. Full next month to request a CLI or do it now ?

[Anonymous]

Capital One loves to give CLIs after you just finished paying off a huge balance with them. I would wait until it's paid. 

[HeavenOhio]

Pay it off first.

For future reference, don’t ever pay interest unless financial circumstances force it. Although you probably haven’t hurt your chances by revolving a balance, note that Capital One loves pay in full behavior.

They do like spending. But there’s no need to accumulate a large balance.

[Anonymous]

^^^ that.

You can PIF monthly with no worries. Rest assured, they know you were spending.

[FiveOhFour]

Thank you I agree I have been doing that for years but I for once finally decided to carry a balance because the interest is cheaper than buying things I don’t need. And last time I requested a cli they said my usage was too low so I was basically trying to force a high balance without spending more. I know they realize I’m spending and maybe a manual review would have saved me but the rejection specifically said my BALANCES had been too low not just my “recent usage” as far as I understood it. Plus I figured at least this way I can argue if I need to make a manual request that “I want a CLI so that I’m not stuck with 50% usage, and to get that high of utilization I needed to either carry a balance or buy more. Maybe you’re saying they don’t take that in account at all but it seemed like they were. Thanks again, I appreciate it and agree, it was hard for me to let the carry a balance. Let me ask one other thing, when you get a line of credit like a fixed $2,000 loan and pay. It off etc. I suppose that has an impact on your average age if accounts?

[FiveOhFour]

Now if only I could find someone to offer me a PRE-APPROVED offer, I swear I got them regularly when building my credit and now that it’s pretty great I never get them. Oh that brings one last question if I apply for a Home Depot business credit card or a chase one do I get a hard hit on my personal credit report if I use my personal social ? I know they don’t actually show the account on your report but yea...Or do you have to use your EIN to avoid a hard pull or am I wrong and the business card is reported on your personal report if you use your social to apply. Thanks for bearing with me and for all the guidances I appreciate it

[FiveOhFour]

Just to clarify. My credit usage is 17%, but on that card it’s 45%, and my other capital one is 0% & all my others are 0 except my Amex gold which has $53 balance after paying off a $9,000 purchase

[mikesonthemend]

---

@FiveOhFour wrote:
Now if only I could find someone to offer me a PRE-APPROVED offer, I swear I got them regularly when building my credit and now that it’s pretty great I never get them. Oh that brings one last question if I apply for a Home Depot business credit card or a chase one do I get a hard hit on my personal credit report if I use my personal social ? I know they don’t actually show the account on your report but yea...Or do you have to use your EIN to avoid a hard pull or am I wrong and the business card is reported on your personal report if you use your social to apply. Thanks for bearing with me and for all the guidances I appreciate it

---

As far as I know, Amex is the only biz revolving card you can get without a HP when personally guaranteed.  If you apply using only EIN, they only pull business files. PG is far easier to get approved for if business is new and lacks certain records, or unwilling to allow access to banking accounts.

[FiveOhFour]

Business is from 2004, but it’s got no files basically as it’s just been sitting there as my evil Shame closet monkey.

Interesting I thought I’d seen chase spoken of doing the same I’ll search more though. Do you know if it’s all Amex business or just non-partner cards etc? Thanks

[FiveOhFour]

One last question on that. If I go pay it tomorrow despite being 10 days early, I normally have a small balance on it at all times but I assume for CLI just getting it to 0 even if I’m paying charges an entire cycle early is worth it. And since I have one card already reported with a very small balance I will not get the fico ding for having no cards in use, but does the CLI go off their current in house data only Or also the CRA’s.

Aka will it behoove me to wait until it’s paid off AND reported as such to request a cli? Thanks again for bearing with me here. Much appreciated.