Capital One Venture One CLI Question

[Anonymous]

Hello Guys. I got approved for a Venture One Capital One Credit Card in July and I was told that by the Seventh Statement I would get an increase. i was approved for 5k initally have about 80% utilization. All my payments have been made on time and I would like to know from you all who are capital one credit card holders or ventureone card holders a few things:

1.) What kind of Auto CLI did you get after 6 months?

2.) Does Alot of Utilization affect the CLI that you receive?

3.) Does Using the Cash Advance portion of your CLI also help as a factor?

4.) Are increases usually big for VentureOne Card Holders?

[Remedios]

1) I've never heard of *guaranteed* increase on Venture One cards

2) With Cap1 it does, however, you should pay with the cards that give you the best return back.

3) No, dont do that. Pretend cash advance does not exist.

4) Increases are profile dependent.

[Anonymous]

1. I put a lot of spend on my Cap1 card. Not once did I receive an auto CLI. However, I did receive huge increases when requested every 181 days.
2. I believe utilization plays a factor when requesting a CLI with any credit card. I always keep it below 1% aggregate before requesting.
3. Never use the cash advance option.
4. CLI would depend on your spending.

I'm not a V1 card holder, but I'm speaking about Cap1 in general.

[KDKobes]

Response posts are spot on. Although I will be the one to say it, 80% util isn’t going to help net a big increase. I was recently denied a CLI request on my VentureOne with less than 40%util although it could’ve been that I upgraded the card in August from a QS1 (not quite 6 month mark between changes). The economy is going stiff right now and from my experience “less is more”. It’s not like it used to be, creditors want to see you using the card but not carry a balance for a long period (if you’re going to carry a high balance on a card, stop using it until it’s paid down. Having a high balance and continuing to use that card even though you may be paying off your purchases still leaves the balance hovering in the same region unless your constantly paying much more to bring that balance down month to month otherwise it looks bad). In fact I’ve found that they like to see that you have a lot of available credit your not using. The cards I hardly ever use, with the lowest balances, have netted CLI increases beyond my cards that I use often or still have a balance on which is a big flip-flop from previous years.

[Anonymous]

interesting to know,

and didn't think the v1 was on their "credit steps"

my previous cap 1 qs1 was, but i got my venture 1 in September and it didnt contain any language about on time payments like their steps program, and I got the same $5k SL