Cap One CLI question

[Anonymous]

When does Cap One begin counting the days on how long you've had the account?

From the day you applied (Sept. 4, in my case)?
The day they put that first annual fee (Sept. 5, for me), or from the day you activate and use the card (Sept. 16)?

I'm asking because if they go by the date they plop the first charge onto the account (the AF), that would be exactly 45 days today. And I'm hoping to ask at the 45 day mark for a CLI.

I asked over a week ago and was denied due to the "account being too new" but since I've heard others ask at the 45 day mark, I thought I might have a chance!!

Also, if I ask for one and am approved for a CLI, do I have to wait another 45 days before apping for a second C1 card (hoping to open another and combine)?

TIA!!!

[Anonymous]

*bump, please?*

[Anonymous]

i would wait until the 2nd statement

[Anonymous]

not sure about the time limit between cap1 cards but I waited 3 months and got my second card then I think 2 months later I tried my luck again and got denied with a reason of having "too many" cap1 accounts. So now I just combined and after i pif i will ask for a CLI.

[Anonymous]

I have had a cap 1 card since oct. 99.  I started with a cl of $300.  Three months later, I got an $800 cli and absolutely NOTHING since (even requested a cli last year and was told they only review on anniversaries).  My ficos hover around 700.  Hopefully you will get your increase at the three month mark.  I have not heard of anyone getting it at 45 days.  Good luck!

[Uniqua]

Why not just wait? Perhaps you'll get an auto CLI without all these hassles.

[score_building]

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dee723 wrote: 
... I have not heard of anyone getting it at 45 days.  Good luck!

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me neither, even macy's who is one of the most forthcoming with increases told me to calm down when i mistakenly called for another increase after 2.5 months.  they will review a card holder for an increase after just three months.  i've been waiting 7 years for cap1 to give me an increase, nada.  in any case gl, hope yours comes sooner rather than later!

[Anonymous]

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@Anonymous wrote:
I have had a cap 1 card since oct. 99.  I started with a cl of $300.  Three months later, I got an $800 cli and absolutely NOTHING since (even requested a cli last year and was told they only review on anniversaries).  My ficos hover around 700.  Hopefully you will get your increase at the three month mark.  I have not heard of anyone getting it at 45 days.  Good luck!

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Oooh, you're better than me.  I got mine some point in 99 and I started with a CL of 500. And there it has sat for nearly 10 years, and I have requested CL's at least 2-3 times.  And no CLI.

[Anonymous]

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@Anonymous wrote:
When does Cap One begin counting the days on how long you've had the account?

From the day you applied (Sept. 4, in my case)?
The day they put that first annual fee (Sept. 5, for me), or from the day you activate and use the card (Sept. 16)?

I'm asking because if they go by the date they plop the first charge onto the account (the AF), that would be exactly 45 days today. And I'm hoping to ask at the 45 day mark for a CLI.

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Well, as you already know, you can find a variety of experiences with Cap 1 and CLIs.  Many people who have had their card for years, will say that they have hardly gotten any at all.  Supposedly, C1 puts you in these cc categories based on your current credit and your particular card can only be increased to a certain amount, no matter how long you have the card.  This could be why you have some people say that they have had their card for years, and have only gone from 300 to 800 or so.  I do not know, this is just what I have read in the months I have been on the boards.

That said, many people who have gotten cards recently have had some good luck getting CLIs, especially those on credit steps. I think I got my card in Feb.  with a 500.00 CL and was told that after the 4th statement and of taking care of my card, I would receive a $250. CLI. I had called several times before then and was declined. 

Then in March eddymvp, wrote about a C1 promotion.  http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&thread.id=60262&view=by_date_ascending&page=1.  My nick was "Recoveringmylife" then.   I got a 500.00 CLI AND a few weeks later after my 4th or 5th statement I got my Steps increase, but it was also 500 instead of 250.  I think that actually might have been a promotion that some people were mailed.

My experiences with C1 CLIs have been consistent with how I treat my card.  In the beginning, I used it often and paid often.  I nearly maxed it this summer and am now in the sock drawer, payback mode and was declined last week for a CLI.  Go figure though, they altogether approved me for a new card last night (500 Cl).  Who knows, maybe my first card is in one of those capped categories, but if it is, I think mine is capped at $3000.00.  My CL is currently $1500.00

Cap1 will be good to you, but be careful right now.  I am reading that a lot of people are getting Cl decreases and asking for CLis too soon or too often will trigger your bank to think that you NEED credit real bad, that you are too much of a credit risk.  They will cut your CL if that is the case.  If you are in the credit steps, follow the steps.  Wait to see if there are promotions within the next two months.  Trust me, when C1 starts handing out CLI, a lot of people will start writing about it.  Maybe you will end up getting a promotional increase (or just a requested increase) AND your credit steps increase, if you are in that program too.  I am hoping that is what will happen with this new card.

Message Edited by Changingmantra on 10-22-2008 12:27 PM