@Anonymous wrote:
I'm confused as to how this works. Anyone care to explain how to use the luv button, and what it exactly does? Its actually the Increase Credit Line link and you click on it then enter your info when they ask for it and the computer determines whether or not you qualify for a CLI.
My first statement for both my Platinum and QS1 card cut tomorrow. I have a $1,000 limit on both. Currently, the Platinum card has 5% utilization and the QS1 has about 20%.
Am I understanding that I want to run more money through these cards, and then pay them off in full before the due date? Or before the statement cuts? What you ultimately want if trying to maximize your Fico score is to have only one revolver report a balance of no more than 9% of its individual CL to the CRAs each month and the rest of them at 0 so in order to do this you would pay them off/down prior to statement cut. You can also run more than the CL thru them in a month if you pay multi times per month. If you have a balance due on the statement you want to pay it off on or before the due date to avoid interest charges and if you are revolving a balance always pay at least the minimum on or before the due date.
How soon exactly will I see CLI's on these cards if I don't use the luv button? How does the steps program work? Steps guarantees you a CLI if you meet the requirements to get it, its a one time shot and then CLIs come automatically or by request thru the increase credit line link. There is no set in stone time that Cap-1 will give an auto CLI but its pretty much common knowledge they allow 1 CLI every 6 months. I'm a noob to all of these tricks to get increased limits on my cards :/
I hit the CLI button every few weeks, this thread motivated me to go try again. Nothing for three of my cards but my Venture just went from 10k to 13k. Awesome!
That account is just shy of 5 months old, I figured I'd have to wait another month to try but apparently not.
