Capital One Auto CLI

[Anonymous]

I've had the secured platinum card going on a year now and haven't received an auto cli, to be fair I barely use the card but I've read of most people receicing them every 6 months or so, is there something I can do to spur an increase? 

[Anonymous]

Use it more.  Lenders don't tend to give CLIs on cards that see little or no usage.

If you can afford to, charge it up to 50-70% of the limit and pay it off in full.  If you're concerned about utilization dragging scores down, pay it off before statement cut.

[wasCB14]

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@Anonymous wrote:

Use it more.  Lenders don't tend to give CLIs on cards that see little or no usage.

If you can afford to, charge it up to 50-70% of the limit and pay it off in full.  If you're concerned about utilization dragging scores down, pay it off before statement cut.

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@Anonymous wrote:

I've had the secured platinum card going on a year now and haven't received an auto cli, to be fair I barely use the card but I've read of most people receicing them every 6 months or so, is there something I can do to spur an increase? 

My experience with Cap1 is limited to bonus-chasing a Savor, but wouldn't the card have to unsecure first?

The odds of or requirements for unsecuring, I don't know.

In OP's shoes, I'd just get a better card to replace it and then close the account. Capital One is getting an interest-free loan of the secured deposit and they're making money from transaction fees without having to pay out anything in rewards. They don't have much incentive to change things. They may also have securitized and sold the debt to investors which can make getting CLIs quite tricky.

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[Anonymous]

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@Anonymous wrote:

I've had the secured platinum card going on a year now and haven't received an auto cli, to be fair I barely use the card but I've read of most people receicing them every 6 months or so, is there something I can do to spur an increase? 

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I am not sure there formula on giving an auto CLI to secured cards. In my experience, I opened the secured platinum card in February of 2018 for $200, received an auto CLI of $300 bring my CL to $500 in June 2018 and hadn't received another since. I closed the account last month after finding out they stopped graduating the cards to unsecured.

Not sure what you gave as a security deposit, but in my opinion, if you don't need the money right now, I would keep it open until you have a few more cards in your wallet.

[Anonymous]

So I've just applied for my third card - Chase Freedom (waiting for a decision), I suppose after I open more cards I could consider closing it but my profiles still really thin so I don't wanna thin it more just yet, I also have a bunch of inquiries from car shopping (even though I thought they were only supposed to count as 1, I have quite a few on my report now).  I suppose puting it into rotation could help but I'm thinking of moving away from them altogether as my profile fattens so maybe its not really worth it since there's no graduation.

[Anonymous]

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@Anonymous wrote:

So I've just applied for my third card - Chase Freedom (waiting for a decision), I suppose after I open more cards I could consider closing it but my profiles still really thin so I don't wanna thin it more just yet, I also have a bunch of inquiries from car shopping (even though I thought they were only supposed to count as 1, I have quite a few on my report now).  I suppose puting it into rotation could help but I'm thinking of moving away from them altogether as my profile fattens so maybe its not really worth it since there's no graduation.

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I would look for pre-approval/pre-qualified offers. It doesn't mean it's a sure thing but it's better than shooting in the dark. I had my platinum card for 13 months when I was approved for the CapOne Quicksilver1. Mind you, I don't know your whole situation and how "thin" your file is, but your scores are better than mine were when I was approved for the Amex Gold Delta and Everyday (approved with a 676 Experian). 

Everyone has different situations, but here is a snap shot of mine at the time of approval to give you some insight.

I have two student loans roughly $37k in total, six years old.

An auto loan roughly $6.5k balance less than a year old and an auto loan PIF as of Janurary this year that was 4 years old (refi).

Had the CapOne Plat, CapOne QS1, Discover It, CitI Secured, a Visa Rewards card through my Credit Union and a Fingerhut account.

I closed collection PIF

My annual income is a hair over $71k

Hope this helps.