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Cap1 Strategy and Habits for that big CLI!

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Valued Contributor

Re: Cap1 Strategy and Habits for that big CLI!

Applying for a CLI every 6 months is only true if you actually get an increase. If you're denied for a CLI, you can ask again anytime. But if you ask and are approved for an increase, you must wait 180 days before asking again. I'm not sure how it works with an auto increase though.
Message 11 of 14
Established Contributor

Re: Cap1 Strategy and Habits for that big CLI!


@AnimalHouse121 wrote:
Applying for a CLI every 6 months is only true if you actually get an increase. If you're denied for a CLI, you can ask again anytime. But if you ask and are approved for an increase, you must wait 180 days before asking again. I'm not sure how it works with an auto increase though.

Very true, I've asked a little early and been denied. 

Then asked again right after the 180-days had passed and been approved. 

So asking early won't help but won't restart your clock. 

I don't know about auto increases. 

Capital One never gave me one, IIRC.

 




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 12 of 14
Regular Contributor

Re: Cap1 Strategy and Habits for that big CLI!


@Hut1 wrote:

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.  I used my Cap1 Platinum card with a $3k SL like a debit card while it was in the introductory 0% APR period
  • PIF before statement cuts or directly after.. Cap1 likes to see PIF behavior. Try not to carry a balance.  The MAX balance I ever had on the card was ~$1,000 and I carried a balance of $200 to $500 month to month during the whole introductory APR period (Sept. to June.) I did a PIF in June to avoid any trailing interest and didn't start using it again until the July statement cut at $0.
  • Payment due date is cut off at 8pm to post same day.  Made multiple payments throughout the month.
  • You can apply for a CLI evey 6 mos.  PC'd to a Quicksilver at month 3, and since the $500 Credit Steps CLI happened at month 6, I had to wait until the 12th statement cut to request a CLI. They gave me another $3k. Limit is now $6,500

 


 

Message 13 of 14
Regular Contributor

Re: Cap1 Strategy and Habits for that big CLI!


@AnimalHouse121 wrote:
Applying for a CLI every 6 months is only true if you actually get an increase. If you're denied for a CLI, you can ask again anytime. But if you ask and are approved for an increase, you must wait 180 days before asking again. I'm not sure how it works with an auto increase though.

My experience also, you can ask any time you like if you were previously denied a CLI.  Once you get a CLI, you must wait 180 days before being approved for another.

 

I received an auto CLI of $3000 last year, and I wasn't able to be approved for a manual CLI until that 6 month window expired.  So auto CLI falls into the same boat as the manual.

 

If you want a product change (PC), you must also wait 6 months from your prior PC.  I'm not certain, but I believe you are still eligible for a CLI during that 6 month waiting period after a PC.

Message 14 of 14
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