@Anonymous wrote:
I requested a CLI last month, it was for sure a HP.
For what card? Was it Co-Branded?
My last CLI was a SP, but they saw fit to only give me an extra $150 [asked for +$4500 lol]
Which also leads to my rejoinder about expecting $1k-3k... $150!
@Brian_Earl_Spilner wrote:
@Aim_High wrote:Capital One makes you work for CLI. Here's their rules:
- Run up balances and allow them to post to statement before you pay it off. I have no confirmation but I believe this may help the computer algorithm see you warrant an increase. This is just my personal observation. See my thread link below.
You don't need to report a high balance at statement. Just use it heavily. Cycle the card a couple of times and let it report 0.
To clarify, I wasn't suggesting running up a high utilization balance. Just using a grand total of at least 25 to 50% of your existing credit line over a few months. (That could be just new charges of 10% to 15% of your credit line for three months in a row, paid off after statement cut.) At lower credit lines, that's not too difficult. As your limits increase, it can become more difficult to meet higher levels of spend (as a percentage of utilization) that they seem to be looking for.
As I said, I don't have outside confirmation that allowing balances to post to statement cut helps, but I do have my own significant data points at the link below. It was not just subjecture. I had been getting CLIs with Capital One regularly after putting heavier spend on my card for three months. On the last one I got, I paid off some larger balances mid-cycle that didn't post to statement. So even though I was using the card pretty heavily, it took me 4.5 months of heavier spending to get the final increase. The only two factors that seemed different that time was (1) my higher credit limit made it harder to reach the %-spend that they were looking for or (2) my early payments before statement cut somehow affected their algorithms in case it uses statement balances over a few months to look at spending. Since MOST people don't pay off their credit cards before the bill even comes due, it would make sense that they think that is an easy number to pull out of customer's file for their algorithm. In my case, it could have also just been the higher CL I was trying to get an increase on ($22K to $25K) which required heavier spending than I expected.
For anyone who wants to look into it, I posted some very detailed data points including monthly spending patterns in my approval for that CLI at this link. You can draw your own conclusions.
@Anonymous wrote:for those doing AZEO like myself, running up balances that get reported to the CBs is a no-no. Your highest balance is supposed to be reported on your CR anyway, there's a field for that.
I won't say there's anything wrong with Azeo itself, but it's most helpful as a short-term technique to help boost your credit score just before you apply for new credit. Doing it month-after-month may be overkill when you're not applying for new credit, unless you just get some pleasure out of seeing zero balances. The only exception I would say is if you have only a couple of very low limit cards that don't really suffice for your level of monthly spending and would show relatively high utilization if you don't pay them off early.
The high balance on your credit report is just the highest balance that was ever allowed to post to statement on that account. That would have nothing to do with Capital One approving an increase. They have much more detailed data anyway on your card usage, including that figure. What they are really looking for, though, is how much "love" (spending) you've shown them lately. What you did six months ago or two years ago doesn't matter when you go for a CLI with them.
@AzCreditGuy wrote:Oh boy do I know this one.....Getting denied for too high balances and then paying off those high balances and getting denied for credit line that has been too low? Capital One is Bi-polar, I’ve learned my lesson with them and figured out a way to get a CLI after I tested it and it worked. My goal was to do this again in May but I am busy with other things to start doing it again. Im at $6.5k CL my goal is $10k and be done with the card. Ill be testing again in July
Do tell. What's the trick you are testing for Capital One CLI or is it just a variation of the heavier spend before a CLI?