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Cap1 Strategy and Habits for that big CLI!

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Regular Contributor

Cap1 Strategy and Habits for that big CLI!

Happy Thursday!

 

My new Cap1 QS card will be arriving shortly in the mail and I've been cruising this board every day since I joined for all posts related to Cap1. I'm looking for specific advice on how to use my CC to Cap1's liking in order to get a CLI. I'm trying to put all of the advice into one place in case anyone else needs the same info. (Keep in mind, this is not for the "steps" cards which give an automatic CLI after 5 on-time payments)

 

Here's what I have so far.

  • Use the card (heavily) or else be denied for a CLI for low usage.. Cap1 likes to see numeous swipes no matter what % of UTI is.
  • PIF before statement cuts or directly after.. Cap1 likes to see PIF behavior. Try not to carry a balance.
  • Payment due date is cut off at 8pm to post same day.
  • You can apply for a CLI evey 6 mos.

 

Any other advice or experience with this lender is appreciated!







Message 1 of 14
13 REPLIES 13
Community Leader
Mega Contributor

Re: Cap1 Strategy and Habits for that big CLI!

Heavy use or bustSmiley Wink
#ChaseCreditCardHobby Enthusiast
2022
!
Message 2 of 14
Regular Contributor

Re: Cap1 Strategy and Habits for that big CLI!


@AverageJoesCredit wrote:
Heavy use or bustSmiley Wink

ha! OP updated. 







Message 3 of 14
Super Contributor

Re: Cap1 Strategy and Habits for that big CLI!

Simple. Use the blank out of it. The more you swipe. More $ they make. More you get. (Other factors invovled like your reports)





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC at 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game. Pay it Forward!
Message 4 of 14
Community Leader
Senior Contributor

Re: Cap1 Strategy and Habits for that big CLI!


@Hut1 wrote:

Here's what I have so far.

  • PIF before statement cuts does not work for this lender.. let a small balance post of 8.9% UTI or less, then PIF.

Capital One isn't bothered by statement balances of zero. They like pay-in-full behavior rather than revolving a balance. You may wait until as late as the due date or pay as soon as a couple of charges post. Do what's comfortable for you.

Message 5 of 14
Regular Contributor

Re: Cap1 Strategy and Habits for that big CLI!

I only let a balance report once in the 9 months that I've had my (started as Platinum, upgraded to a QS), high use some months, low use others, (and it was a "steps card), and I just received an auto Cli of $2500. I only have the one Capital One MC, but I do have a Capital One Kohls card.

Capital One is one of those lenders that YMMV big time!
Chapter 7 DC 10/23/18
Starting FICO 8 11/22/18

Current FICO 8 11/28/19

GOAL 680 by 12/19
Current FICO 9 11/28/19

Student loans and car payments reporting positive

Message 6 of 14
Established Contributor

Re: Cap1 Strategy and Habits for that big CLI!


@Hut1 wrote:

I'm looking for specific advice on how to use my CC to Cap1's liking in order to get a CLI.

Any other advice or experience with this lender is appreciated!


Welcome!  The QS is a very good card. 

I like how you can redeem cash-back as a statement credit as soon as  charges post on the web.

Good fraud detection.  Good app and web interface. 

 

As to CLIs:  Capital One likes to see heavy use of your existing credit line.  It doesn't have to be 90% of it, or even 50% or 30%, I don't believe.  But if you haven't been swiping the card regularly, you will likely be denied.    When I have done short-term sock-drawer of my QS card, I have learned I need to  be using it often for a minimum of about 3 months prior to requesting a CLI.

 

Pay when you like, as others have said.  Before or after statement cut.  But definitely pay on time or early.

 

Don't expect the moon with increases.  They are very conservative about SL and CLIs but they will move over time with patience and if you don't give up on them. 

 

There is NOBODY you can talk to or appeal to about CLIs.  It's all automated, which can be a little annoying. Just go with that process and don't expect human intervention like you might get with another lender.

 

You can apply once every six months, so mark your calender when you apply so you'll know when you're next eligible. 

 

If your SL is $5K, I'd expect $1K to $3K increases at a time from that starting point.

 

 




Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 26+ years;
AAoA = 9+ years; AoYA = less than 1 year (Nov 2019)
Total Open Credit Lines Over $440K. Utilization Less Than 1%. Inquiries until May 2020 (TU:2 -- EQ:2 -- EX:6)
*Hover cursor over each card to see name, CL
Message 7 of 14
Regular Contributor

Re: Cap1 Strategy and Habits for that big CLI!


@Aim_High wrote:

@Hut1 wrote:

I'm looking for specific advice on how to use my CC to Cap1's liking in order to get a CLI.

Any other advice or experience with this lender is appreciated!


Welcome!  The QS is a very good card. 

I like how you can redeem cash-back as a statement credit as soon as  charges post on the web.

Good fraud detection.  Good app and web interface. 

 

As to CLIs:  Capital One likes to see heavy use of your existing credit line.  It doesn't have to be 90% of it, or even 50% or 30%, I don't believe.  But if you haven't been swiping the card regularly, you will likely be denied.    When I have done short-term sock-drawer of my QS card, I have learned I need to  be using it often for a minimum of about 3 months prior to requesting a CLI.

 

Pay when you like, as others have said.  Before or after statement cut.  But definitely pay on time or early.

 

Don't expect the moon with increases.  They are very conservative about SL and CLIs but they will move over time with patience and if you don't give up on them. 

 

There is NOBODY you can talk to or appeal to about CLIs.  It's all automated, which can be a little annoying. Just go with that process and don't expect human intervention like you might get with another lender.

 

You can apply once every six months, so mark your calender when you apply so you'll know when you're next eligible. 

 

If your SL is $5K, I'd expect $1K to $3K increases at a time from that starting point.

 

 


Thanks Aim! This info is vey helpful for us who are new to Cap1. I'll definitely be reporting back in 6 mos on if the advice helps. I don't expect any negative behaviors or additional HI to impact my credit profile, so hopefully, it will purely be based off of my usage behavior.







Message 8 of 14
Regular Contributor

Re: Cap1 Strategy and Habits for that big CLI!


@Kathyups wrote:
I only let a balance report once in the 9 months that I've had my (started as Platinum, upgraded to a QS), high use some months, low use others, (and it was a "steps card), and I just received an auto Cli of $2500. I only have the one Capital One MC, but I do have a Capital One Kohls card.

Capital One is one of those lenders that YMMV big time!

Thanks for the info, Kathy! I've read that the "steps" cards from Cap1 get the auto CLI after 5 mos of on-time payments no matter if a balance is posted or not. It would be nice if I didn't have to apply for a CLI. I'll probably forget to do it at the 6 mo. mark. Lol.







Message 9 of 14
Regular Contributor

Re: Cap1 Strategy and Habits for that big CLI!

Just a FYI... I had already received the "steps" auto cli after having the card for 5 months.

The $2500 auto cli came 3 months AFTER the "steps" increase.
Chapter 7 DC 10/23/18
Starting FICO 8 11/22/18

Current FICO 8 11/28/19

GOAL 680 by 12/19
Current FICO 9 11/28/19

Student loans and car payments reporting positive

Message 10 of 14
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