Capital One CLI Advice

[Anonymous]

I am eligible for a credit limit increase next month (6 months from my last one) and I was wondering if there is any benefit to not having a balance at the time it is requested.  I have never been late and have always paid significantly more than the minimum.  I have carried a small less than 30% balance at times.  The card is at $2k limit right now.  ANy insight or advice will be greatly appreciated.

[Anonymous]

If the card has not been paid to zero any time in the last 6 months, they’re likely going to deny the increase request or low ball you with $100 unless you’re in an intro period. Credit card companies do like earning interest but they know that consumers don’t pay interest unless they have to so carrying a balance tells them you’re at an elevated risk of default. 

[FireMedic1]

+1 Cap1 loves heavy usage and PIF each month for rebuilders to improve your chances for a CLI. That dont use more than 30% of your credit limit thats all over the internet isnt true. CCC's want to make money. The more you swipe the more they make.

[Anonymous]

Ok.  The card has been paid to zero a couple of times in the last 6 months but it has not been consistently - I've actually carried a small balance on purpose because it is what I "thought" would help my score.  So it sounds like you're saying to always pay in full...?

[Anonymous]

So do you think it will be helpful for me to pay this cycle down to zero before asking or is it too late?  I don't have issues with paying or ability to pay.  I have been trying to increase my score and it sounds like I may have been following the wrong advice.  Any insight will help

[Anonymous]

---

@Anonymous wrote:

So do you think it will be helpful for me to pay this cycle down to zero before asking or is it too late?  I don't have issues with paying or ability to pay.  I have been trying to increase my score and it sounds like I may have been following the wrong advice.  Any insight will help

---

If you have been charging up and paying to $0 then what I said doesn’t apply. It’s people who carry large balances and never pay them to $0 that are risky. 

What I can say is that Capital One has always given me my best increases right after a heavy spend cycle when I make my payment. My last CLI was $2000 in 3/2018 after I paid off the last of a purchase I had made in November 2017 in January and I had PIF for February and March. 

Like @FireMedic1 says, Cap loves a lot of spend. If you have used the card heavily they are more likely to reward you with a decent CLI. Just beware that they aren’t known for CLI generosity as much as they are large limits on subsequent cards. 

[FireMedic1]

Just to add. You dont have to pay a couple times a month. Let that balance rise up. Then PIF. Multiple payments dont do much but cause more work for you. Good Luck on your next attempt at a CLI!