Capital One - 2nd ststement CLI and PC Log

[Anonymous]

So I am going to make a little log of my 2nd statement PC and CLI journey.

At time of approval for this card scores were approximately 580-590 across the 3 bureaus.

I have put around

3/10/16
Obtained Platinum MC - $500 SL

3/10/16 - 4/8/16
$239 in transactions - $45 Balance

4/9/16 - 5/8/16
$215 in transactions - $49 balance

5/7/16
PC'd Plat to QS MC, No AF, 1.5% cash back

5/9/16
Asked for CLI (2ND statement cut on 8th) Got 2-3 day message

5/10/2016
Account too new message

I have noted were some people were able to get a CLI at day 60, I feel as if I'm not running this card hard enough. I use my discover and BOA more frequently due to the rewards.

However, my rewards just showed up on my account. So I went ahead and paid my car payment with this card today, as soon as it post I'm going to PIF.

I am going to run about $400 - $450 through this card again next week and PIF again, and resubmit a CLI around 5/23/16 (75 days)

Current scores 606-EQ // 610-TU // 597-EX

I will post back with information either way if anyone is interested.

[Anonymous]

Good luck and keep us posted. The first CLI with Cap1 usually happens around or after the 3rd statement.

[Anonymous]

I am estimating scores when i applied for card, i purchased the myfico on the 24th of march. Scores were 620 - 620 -610 but took hits due to applying for discover and BOA recently.

Also want to know I had a secure CO platinum 9 months prior to the unsecured version.

[Anonymous]

Good luck and please do let us know.

[Anonymous]

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@Davidasmithlpn wrote:
So I am going to make a little log of my 2nd statement PC and CLI journey.

At time of approval for this card scores were approximately 580-590 across the 3 bureaus.

I have put around

3/10/16
Obtained Platinum MC - $500 SL

3/10/16 - 4/8/16
$239 in transactions - $45 Balance

4/9/16 - 5/8/16
$215 in transactions - $49 balance

5/7/16
PC'd Plat to QS MC, No AF, 1.5% cash back

5/9/16
Asked for CLI (2ND statement cut on 8th) Got 2-3 day message

5/10/2016
Account too new message

I have noted were some people were able to get a CLI at day 60, I feel as if I'm not running this card hard enough. I use my discover and BOA more frequently due to the rewards.

However, my rewards just showed up on my account. So I went ahead and paid my car payment with this card today, as soon as it post I'm going to PIF.

I am going to run about $400 - $450 through this card again next week and PIF again, and resubmit a CLI around 5/23/16 (75 days)

Current scores 606-EQ // 610-TU // 597-EX

I will post back with information either way if anyone is interested.

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I am in a similar boat as you. I've posted the following and didn't get many answers. Maybe someone here can offer a little insight also. Not trying to hijack, trying to add to the same story. If hijacked, mod feel free to delete:

Both cards (QS and QS1) were issued to me on 4/3/2016 with $500 SL.

QS1 - I have run $1500 through this card to date. My balance today is zero. This one says "Last statement balance as of 4/16". I assume that is the date they use to report the cards balance.

QS (PC'd from a PL already) - I have run $1300 through this card to date. My balance today is zero. This one says "Last statement balance as of 4/20".

I spend about a bunch monthly on my cards (3 cards, one Cap1 secured with a $3.3K limiti). I hope I get at least the $1K increase on both cards that many appear to get. However, with my spend (work travel) and abnormally high salary, I hope to maybe score more. A QS with around $5-7K would make my life much easier. I make multiple payments weekly. My scores are lower than yours though. I think I am about a month away from any potential CLI. I actually don't want a miles card, I have enough miles/points than I know what to do with. Cash back is a the perk I want to go after. I want to try for Discover in about 45 days.

[Anonymous]

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@Anonymous wrote:

I am in a similar boat as you. I've posted the following and didn't get many answers. Maybe someone here can offer a little insight also. Not trying to hijack, trying to add to the same story. If hijacked, mod feel free to delete:

Both cards (QS and QS1) were issued to me on 4/3/2016 with $500 SL.

QS1 - I have run $1500 through this card to date. My balance today is zero. This one says "Last statement balance as of 4/16". I assume that is the date they use to report the cards balance.

QS (PC'd from a PL already) - I have run $1300 through this card to date. My balance today is zero. This one says "Last statement balance as of 4/20".

I spend about a bunch monthly on my cards (3 cards, one Cap1 secured with a $3.3K limiti). I hope I get at least the $1K increase on both cards that many appear to get. However, with my spend (work travel) and abnormally high salary, I hope to maybe score more. A QS with around $5-7K would make my life much easier. I make multiple payments weekly. My scores are lower than yours though. I think I am about a month away from any potential CLI. I actually don't want a miles card, I have enough miles/points than I know what to do with. Cash back is a the perk I want to go after. I want to try for Discover in about 45 days.

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What are your questions, maybe I can help?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I am in a similar boat as you. I've posted the following and didn't get many answers. Maybe someone here can offer a little insight also. Not trying to hijack, trying to add to the same story. If hijacked, mod feel free to delete:

Both cards (QS and QS1) were issued to me on 4/3/2016 with $500 SL.

QS1 - I have run $1500 through this card to date. My balance today is zero. This one says "Last statement balance as of 4/16". I assume that is the date they use to report the cards balance.

QS (PC'd from a PL already) - I have run $1300 through this card to date. My balance today is zero. This one says "Last statement balance as of 4/20".

I spend about a bunch monthly on my cards (3 cards, one Cap1 secured with a $3.3K limiti). I hope I get at least the $1K increase on both cards that many appear to get. However, with my spend (work travel) and abnormally high salary, I hope to maybe score more. A QS with around $5-7K would make my life much easier. I make multiple payments weekly. My scores are lower than yours though. I think I am about a month away from any potential CLI. I actually don't want a miles card, I have enough miles/points than I know what to do with. Cash back is a the perk I want to go after. I want to try for Discover in about 45 days.

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What are your questions, maybe I can help?

I also have a predator one with zero balance and is SD'd. 

Per FICO my scores are 560-580. My UTI is anywhere from 48% to 61%. I have 4 baddies paid, that will bring my UTI down to reflect the four cards I mention above (<5%UTI). I paid these off 4 weeks ago, so they should reflect this within the next 30 days. 3 of the baddies are reporting well over the limit. Currently I only have two open cards reporting, my QS and QS1 should report next week after my second statement.

My questions are:

Should I worry what is reported as a balance on my QS and QS1? I am limiting what I can purchase for 5-6 days if I need to reflect a zero balance.

I want to apply for the CLI before the 6 month step, at roughly day 63. I should wait till my baddies have reported PIF, correct?

I was sent a letter saying that I am in the steps program and I should expect a CLI to $750 on each card after six months. I read on here that most people see a CLI to $1500 per card after the 63rd day (or so).

Should I do a chat for the CLI or use the website? If I don't get the $1000 increase, should I not accept the offer and keep trying weekly?

What should I do? Disregard reported balance to increase my spend/pay? Any advice would be greatly appreciated. 

I am fortunate that I can travel on personal cards, I fly 5-8 times a month. 

I have 15 or 16 derogs, all drop in July(ish) of next year. I just spent the last year and change paying off over 20+ accounts. It's amazing to feel no debt over my head. However, I just got hit with a tax lien I didn't realize existed. Paid instantly, and can apply for withdrawl. 

I am thinking Discouver (if I can't get unsecured, I can max out secured)

I also received a Merrick double your line 7/14. Sorry, if I am all over the place.

[Anonymous]

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@Anonymous wrote:

I also have a predator one with zero balance and is SD'd. 

Per FICO my scores are 560-580. My UTI is anywhere from 48% to 61%. I have 4 baddies paid, that will bring my UTI down to reflect the four cards I mention above (<5%UTI). I paid these off 4 weeks ago, so they should reflect this within the next 30 days. 3 of the baddies are reporting well over the limit. Currently I only have two open cards reporting, my QS and QS1 should report next week after my second statement.

My questions are:

Should I worry what is reported as a balance on my QS and QS1? I am limiting what I can purchase for 5-6 days if I need to reflect a zero balance.

I want to apply for the CLI before the 6 month step, at roughly day 63. I should wait till my baddies have reported PIF, correct?

I was sent a letter saying that I am in the steps program and I should expect a CLI to $750 on each card after six months. I read on here that most people see a CLI to $1500 per card after the 63rd day (or so).

Should I do a chat for the CLI or use the website? If I don't get the $1000 increase, should I not accept the offer and keep trying weekly?

What should I do? Disregard reported balance to increase my spend/pay? Any advice would be greatly appreciated. 

I am fortunate that I can travel on personal cards, I fly 5-8 times a month. 

I have 15 or 16 derogs, all drop in July(ish) of next year. I just spent the last year and change paying off over 20+ accounts. It's amazing to feel no debt over my head. However, I just got hit with a tax lien I didn't realize existed. Paid instantly, and can apply for withdrawl. 

I am thinking Discouver (if I can't get unsecured, I can max out secured)

I also received a Merrick double your line 7/14. Sorry, if I am all over the place.

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Ok, you don't want high utilization reporting to the credit bureaus. The utilization that gets reported comes from whatever balance is reported on your statement. So what you want to do to get the best possible CLI with Cap1, is use your card heavy all month, but make sure you pay it down before your statement cuts. You don't have to pay it down to $0, but make sure you pay it down below 30% utilization so that your credit scores don't take a hit.

I advise waiting until after your 3rd statement cuts before requesting a CLI, and when you request one use the link on their website (i.e. the love button). If they offer you less than 1k, decline it and try again in 1 week.

My personal experience with credit steps is this: I was approved for 1k. I used that card very heavy, made large payments, and sometimes carried a balance. I did NOT request a CLI myself at all. I waited until credit steps was done, and around my 6th statement they gave me a 4k increase for my credit steps, bringing my CL to 5k. So it is possible to get much more than the stated $250-$750 for credit steps if you use the card right.

I would wait on Discover until most of your baddies have fallen off, and you get your scores up a little more. You can try for their secured card, but there is a chance they would deny you for that.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I also have a predator one with zero balance and is SD'd. 

Per FICO my scores are 560-580. My UTI is anywhere from 48% to 61%. I have 4 baddies paid, that will bring my UTI down to reflect the four cards I mention above (<5%UTI). I paid these off 4 weeks ago, so they should reflect this within the next 30 days. 3 of the baddies are reporting well over the limit. Currently I only have two open cards reporting, my QS and QS1 should report next week after my second statement.

My questions are:

Should I worry what is reported as a balance on my QS and QS1? I am limiting what I can purchase for 5-6 days if I need to reflect a zero balance.

I want to apply for the CLI before the 6 month step, at roughly day 63. I should wait till my baddies have reported PIF, correct?

I was sent a letter saying that I am in the steps program and I should expect a CLI to $750 on each card after six months. I read on here that most people see a CLI to $1500 per card after the 63rd day (or so).

Should I do a chat for the CLI or use the website? If I don't get the $1000 increase, should I not accept the offer and keep trying weekly?

What should I do? Disregard reported balance to increase my spend/pay? Any advice would be greatly appreciated. 

I am fortunate that I can travel on personal cards, I fly 5-8 times a month. 

I have 15 or 16 derogs, all drop in July(ish) of next year. I just spent the last year and change paying off over 20+ accounts. It's amazing to feel no debt over my head. However, I just got hit with a tax lien I didn't realize existed. Paid instantly, and can apply for withdrawl. 

I am thinking Discouver (if I can't get unsecured, I can max out secured)

I also received a Merrick double your line 7/14. Sorry, if I am all over the place.

---

Ok, you don't want high utilization reporting to the credit bureaus. The utilization that gets reported comes from whatever balance is reported on your statement. So what you want to do to get the best possible CLI with Cap1, is use your card heavy all month, but make sure you pay it down before your statement cuts. You don't have to pay it down to $0, but make sure you pay it down below 30% utilization so that your credit scores don't take a hit.

I advise waiting until after your 3rd statement cuts before requesting a CLI, and when you request one use the link on their website (i.e. the love button). If they offer you less than 1k, decline it and try again in 1 week.

My personal experience with credit steps is this: I was approved for 1k. I used that card very heavy, made large payments, and sometimes carried a balance. I did NOT request a CLI myself at all. I waited until credit steps was done, and around my 6th statement they gave me a 4k increase for my credit steps, bringing my CL to 5k. So it is possible to get much more than the stated $250-$750 for credit steps if you use the card right.

I would wait on Discover until most of your baddies have fallen off, and you get your scores up a little more. You can try for their secured card, but there is a chance they would deny you for that.

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JustMe, Thank you !

[Anonymous]

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@Anonymous wrote:

JustMe, Thank you !

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You're welcome, and good luck with your future CLIs!!