Cap1: How long after large balance payment to ask for CLI?

[go_FICO_self]

I've been nagging Cap1 for credit limit increase, but they're coming back with same response: average monthly payments are low.

I just paid off large balance transfer that was on the account. So, that's sure to raise the average monthly payment. Question: how long after the payment can I ask for credit limit increase?

[HeavenOhio]

You can ask as often as you want without being penalized. The only limitation is that once you accept an increase, you won't be eligible for another one for six months.

As far as strategies, I'd use the card, pay in full each month, and periodically try for an increase.

[go_FICO_self]

Thanks! Yes, I'm aware of general strategies.

Just wondering if there's experience of someone getting CLI after paying off large balance on their account.

[Anonymous]

A few months back, I had not been using my QS much at all and requested a CLI.  The reasoning was not the same as yours, but rather due to "not enough use" in general terms.  I started using it quite a bit for two months following that CLI request, at which time I requested another CLI.  I was then approved for the CLI.  Again, while not the same reason for being denied a CLI, perhaps give it another shot after two billing cycles and see where you're at.

[go_FICO_self]

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@Anonymous wrote:

A few months back, I had not been using my QS much at all and requested a CLI.  The reasoning was not the same as yours, but rather due to "not enough use" in general terms.  I started using it quite a bit for two months following that CLI request, at which time I requested another CLI.  I was then approved for the CLI.  Again, while not the same reason for being denied a CLI, perhaps give it another shot after two billing cycles and see where you're at.

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thanks for the datapoint! I can wait 2 billing cycles. wondering if someone did it shorter with large balance payoff.

[Anonymous]

Wait until after the statement cuts.  I had a large balance once, paid if off and checked for CLI, then checked again after the statement cut and the amount they were offering for CLI went up 60%.

[go_FICO_self]

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@Anonymous wrote:

Wait until after the statement cuts.  I had a large balance once, paid if off and checked for CLI, then checked again after the statement cut and the amount they were offering for CLI went up 60%.

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yeah. of course I tried it as soon as the statement cut! but still comes back with "monthly payment is too low." it's as if the monthly payment tracker is a statement or two behind the actual payments.

[Anonymous]

could be, maybe you'll h ave some luck after an additional statement.

[go_FICO_self]

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@Anonymous wrote:

could be, maybe you'll h ave some luck after an additional statement.

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have no choice, but to wait I guess. wanted a datapoint or two in the process.

[go_FICO_self]

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@go_FICO_self wrote:

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@Anonymous wrote:

could be, maybe you'll h ave some luck after an additional statement.

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have no choice, but to wait I guess. wanted a datapoint or two in the process.

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updating on mine: looks like it took about a 1/2 billing cycle for the computers to update on the payment info. Just got a 2K increase. Not bad!