I have two cap1 cards:
platinum (graduated from secured) 200cl
Had for 2.5 years. Always pif never late
walmart mc 1500cl
500sl autoCLI'd to 1500 at the year mark
had for two years always pif never late
every time I've requested a cli for either of them I get the same denial reason:
Recent use of existing credit line is too low
the question is
what usage of the existing credit line is cap1 looking to see to approve a cli?
75% monthly?
99%?
200%?
and for how long?
what exactly do they consider recent?
two months in a row?
6?
12?
my ficos are between 686 and 699
127k income
five cards No lates. Always pif
one five year old medical collection
no inquiries. 1/24 on new accounts
AAoA 2y1m
AoOA 2y7m
uti 4%
@pizzadude wrote:The platinum card is almost certainly bucketed so I doubt you'll be able to get much of a CLI ever on that one.
Your wal~mart card may be in a similar situtaion if you opened it when your credit was marginal for their approval standards.
can you PC a bucketed card to better card to get out of the bucket is your current scores qualify you for the better card, then cli from there?
Eh. Oh well.
I will probably hold on to them for a couple more years because they have no fees and they are doing a lot for my payment history and AAoA right now But once my file gets a bit thicker and ages a bit more the 200cl one is going bye bye if it's never going to grow. The Walmart card I still have a little faith in because they've tripled the limit since I got it. That one I got with a score of 660 and I'll try again for a cli when this collection comes off record next year. Hopefully I'll be in the mid 700s by then
@Snook_on_the_Line wrote:Wvery time I've requested a cli for either of them I get the same denial reason:
Recent use of existing credit line is too low
The question is
what usage of the existing credit line is cap1 looking to see to approve a cli? At least 30%, but..:
- For a credit limit so low on the Plat, I would spend at least 50% but upwards of 90% within a billing cycle, and pay down to below 30% before the statement date.
- For the Walmart card, spend at 30% or more during a billing cylce, and pay down to below 10% before the statement date.
what exactly do they consider recent?
Do this for at least 6 billing cycles. Once you get the 6th statement, request a CLI. If approval, then good job. If Denied, spend the same and request an CLI after the closing of statement, until approved.
Answered it green. this has worked for me numerous times with Cap1 CLIs. Also when requesting an CL, input the amount of money you spend a month with other credit card lenders (esp for the Plat card). Good Luck
@citymunky wrote:
@Snook_on_the_Line wrote:Wvery time I've requested a cli for either of them I get the same denial reason:
Recent use of existing credit line is too low
The question is
what usage of the existing credit line is cap1 looking to see to approve a cli? At least 30%, but..:
- For a credit limit so low on the Plat, I would spend at least 50% but upwards of 90% within a billing cycle, and pay down to below 30% before the statement date.
- For the Walmart card, spend at 30% or more during a billing cylce, and pay down to below 10% before the statement date.
what exactly do they consider recent?
Do this for at least 6 billing cycles. Once you get the 6th statement, request a CLI. If approval, then good job. If Denied, spend the same and request an CLI after the closing of statement, until approved.
Answered it green. this has worked for me numerous times with Cap1 CLIs. Also when requesting an CL, input the amount of money you spend a month with other credit card lenders (esp for the Plat card). Good Luck
gonna give that a try and we'll see what happens in 6 months.
I know its possible for the Walmart card to get a cli because it has had one from 500 to 1500 already. Will cap1 let me transfer 1000 of that limit to the platinum card?
then I could put a few recurring bills on the Walmart card's remaining cl for six months and then cli back to 1500
is that a thing?
@Snook_on_the_Line wrote:I know its possible for the Walmart card to get a cli because it has had one from 500 to 1500 already. Will cap1 let me transfer 1000 of that limit to the platinum card?
then I could put a few recurring bills on the Walmart card's remaining cl for six months and then cli back to 1500
is that a thing?
Recent data points indicate that it is not currently possible to reallocate credit limits from co-brand cards to core Cap1 cards.
