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Cap One.....New acct...what do they look for

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Established Contributor

Cap One.....New acct...what do they look for

I am  rebuilding so I have a 300CL my question is...I want to try and get the highest possible CL increases when they do happen at the 6 month mark from what I am hearing. How much do you run thru the card per month?? How much do you let post as a balance...I've read where people pay off several times a month before the statement cuts. Does that help when is comes to CLI?  Any info is appreciated

 

Current as of 3/21/18 EQ 609 TU 619 EX 628
Discharge 7/2016 Ch 7 BK
Message 1 of 7
6 REPLIES 6
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Super Contributor

Re: Cap One.....New acct...what do they look for

i've helped a few a work gain points once I learned the game. If its the only card. Use it as a debit card. Pay it off every payday. If its the only card. Pay it off before the online "due date" and leave 1-5%, or 10-15 bucks. Few days later Cap1 will post the statement. PIF. Repeat. After 90 days hit the luv button for a SP CLI. After 6 months. Go for the next Cap1 card, cash back preferred taking you have the Platnium now. They like heavy usage and PIF except the 1-5%. For FICO 1-5% statement posted. Please 2 at one time. Just read my siggy below. I had zippo in cards after BK 11/15. Now its a beautiful thing for me. JMHO.

Message 2 of 7
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Regular Contributor

Re: Cap One.....New acct...what do they look for

If it's secured just use it like normal, pay it in full and apply for a QS1 after 6 months. Used to be less than 6 months a few months ago, but it's 6 now according to what I have read on here. When I got the QS1 I had a very low limit about 1500. I spent 2-3K a month on it and paid it constantly after purchases with very small balances (5%ish). They gave me almost another 4k CLI after less than 3 months of that decent use. 

 

If that 300 CL card is a secrured, dont even bother with it. You'll be lucky if it hits 500. 


Message 3 of 7
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Established Contributor

Re: Cap One.....New acct...what do they look for


@KillerWaves wrote:

If it's secured just use it like normal, pay it in full and apply for a QS1 after 6 months. Used to be less than 6 months a few months ago, but it's 6 now according to what I have read on here. When I got the QS1 I had a very low limit about 1500. I spent 2-3K a month on it and paid it constantly after purchases with very small balances (5%ish). They gave me almost another 4k CLI after less than 3 months of that decent use. 

 

If that 300 CL card is a secrured, dont even bother with it. You'll be lucky if it hits 500. 


It the Cap One QS i believe... I had a choice between the QS or the Platinum and i chose the QS for the 1.5 % cashback.

Current as of 3/21/18 EQ 609 TU 619 EX 628
Discharge 7/2016 Ch 7 BK
Message 4 of 7
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Super Contributor

Re: Cap One.....New acct...what do they look for

Whicever one you got. Its the same game. Their new rules are 6 months between new card apps. 90 days for new accounts for a SP CLI. And 6 months between approved SP CLI's. I got in right before the new rules started in July. Secured is a bit different, but it will raise your chance for a unsecured in 6 months like the poster said above.

Message 5 of 7
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Moderator

Re: Cap One.....New acct...what do they look for


@Cheryla18 wrote:

@KillerWaves wrote:

If it's secured just use it like normal, pay it in full and apply for a QS1 after 6 months. Used to be less than 6 months a few months ago, but it's 6 now according to what I have read on here. When I got the QS1 I had a very low limit about 1500. I spent 2-3K a month on it and paid it constantly after purchases with very small balances (5%ish). They gave me almost another 4k CLI after less than 3 months of that decent use. 

 

If that 300 CL card is a secrured, dont even bother with it. You'll be lucky if it hits 500. 


It the Cap One QS i believe... I had a choice between the QS or the Platinum and i chose the QS for the 1.5 % cashback.


If it's the one with the annual fee it's the Quicksilver One, which is actually identical to the QS (other than the AF, of course). 

 

My own QS MasterCard used to be a QS1, and it also started years ago with a $300 credit line.  (In my case it started off as HSBC, but was later converted to a QS1).  Since it was still at a modest $720 credit line when it became a Capital One card my data points will still be relevant. 

 

Like many others on here will attest, with my two QS cards Capital One has been very responsive to swipes and usage... the more I used it, the more cooperative they were with raising my credit line.  Especially when I was starting out (and had limited options) Capital One seemed to grow more with heavy use, relative to my credit line of course.

 

When my credit line was small I would at times max it out multiple times each month (making payments every week or so) but this isn't required for it to grow, only if you want to use it to spend more than your credit line.  My QS card that started off with a $300 credit line now has a credit line of $4900, and would probably be higher if I used it more often.  My newer QS Visa card has a credit line of $10k, so once you're more established don't be shy about applying for a second card with them; they can be generous even if your score is less than perfect.

 

Hope this helps!  Smiley Happy

 

P.S.  If you do have the QS1 (with the annual fee) be sure to remember later on to ask about changing it to a no-fee Quicksilver... some people have got them to do the upgrade after only a few months, but others (like myself) had to wait longer.  Smiley Wink

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Established Contributor

Re: Cap One.....New acct...what do they look for

Thank you to everyone who replied!!!!  It will help me alot. It's interesting to see how the different banks view spending habits. A tricky course indeed.  I am looking forward to having nice CL...not to max out but to have that CL avaiable if something should happen and i need a new appliance or whatever. I love that you all are so helpful. I am truly grateful!!

Current as of 3/21/18 EQ 609 TU 619 EX 628
Discharge 7/2016 Ch 7 BK
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