Do I have to wait 6 months really?

[mxhouse2008]

I tried the luv button Friday on my capital one platinum credit limit 500 I got we are reviewing your request will receive a document on results in 2-3 days. Well received the document via online and it says I had been declined because there was recent Change to credit line on this account . When I went to the credit line faq it says I have to wait 6 months . I received a credit limit from $100 to 500 in July the card was the rebuilder card they offered but discontinued. Still 6 months I pay Muultiple times a month and pay large payments with 0 balance when statement cuts. But really 6 months called rep and she/he said I can request anytime really don't understand?

[Anonymous]

Yes, you have to wait. You can try any time you want since it's a soft pull, but CapOne is pretty hard and fast on the six months between CLI's rule.

[kdm31091]

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@Anonymous wrote:

Yes, you have to wait. You can try any time you want since it's a soft pull, but CapOne is pretty hard and fast on the six months between CLI's rule.

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This. No harm in trying but the computer auto rejects if it hasn't been 6 months 99% of the time.

[Anonymous]

Yep. Amex told me the same thing. 6 months between CLI's.

[Anonymous]

Not necessarily true. My Platinum card started at 300 - hit the luv button once week, at 3 months luv button went to 800, at 5 month auto cli to 1300

Qs1 same story at 3 months luv button went 1500, nothing since

[Anonymous]

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@Anonymous wrote:
Not necessarily true. My Platinum card started at 300 - hit the luv button once week, at 3 months luv button went to 800, at 5 month auto cli to 1300

Qs1 same story at 3 months luv button went 1500, nothing since

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Both things are true.....

During the INITIAL grow stage...you can get a bump BEFORE the 'steps' AUTO bump hits because the auto bump is set up...well to be 'auto' as part of how the program works.

Then AFTER that it works, as normal...hence the 'nothing since'

Cap-1 has been very very consistent the way they do things...like the big well oiled machine that it is

Ex:

No matter if it's the 'rebuilder program' that started at $100 then autos to $500

or a Plat/Secured at started at X the bump is normally $300...like clock work statement 6/7

a QS1/QS in the steps where the SL is $500 either bumps $500 or $1000 without deviation

*What can and does happen (as the poster experienced, as did I) if one bangs that luv monkey PRIOR to the steps auto CLI 'if' eligilbe

Cap-1 has been known to CLI

again IF done prior to the steps 6/7 statement auto CLI (again this is pre-determined and won't be effected by an'early' CLI...you'll get the auto no matter what)...

now, once that auto CLI hits you're done for 6 months

In the OP's case the way the rebuilder works didn't give them a chance at luv monkey luv because of the product design.....in fairness though

it's a freaking OUTSTANDING program and I for one would complain for ONE second about that restriction on an account that gave up the half a thousand dollar

CL just for managing a $100 line for a few months....then ONLY 'ask' for 6 months of seasoning prior to giving MORE credit.....seriously?

Great freaking program....more ppl would BEG for that type opportunity too bad Cap-1 killed it...I thought it was a superb program for a beginner or 'back-to-the-game' player

wanted my kid to have that one but they cut it before she turned 18....so I like the $200 secured Disco as a 1st time trainer

[takeshi74]

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@mxhouse2008 wrote:
Do I have to wait 6 months really?

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@mxhouse2008 wrote:
Still 6 months I pay Muultiple times a month and pay large payments with 0 balance when statement cuts.

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Building and rebuilding credit is a long, slow process.  6 month is no time at all.  Adjust your expectations.  You're going to be in this for the long haul.  Additionally, it's not about how many times pay, the size of payments or the balance at statement cut.  It's not even just about the account you hold with the creditor.  Your entire credit profile is considered for CLI's.  Everything on the report matters and all the usual factors apply.

[Anonymous]

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@takeshi74 wrote:

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@mxhouse2008 wrote:
Do I have to wait 6 months really?

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@mxhouse2008 wrote:
Still 6 months I pay Muultiple times a month and pay large payments with 0 balance when statement cuts.

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Building and rebuilding credit is a long, slow process.  6 month is no time at all.  Adjust your expectations.  You're going to be in this for the long haul.  Additionally, it's not about how many times pay, the size of payments or the balance at statement cut.  It's not even just about the account you hold with the creditor.  Your entire credit profile is considered for CLI's.  Everything on the report matters and all the usual factors apply.

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I agree 100%. After my Chapter 13 in 2008, I had to wait a very long time to rebuild, but because I waited, my rebuilding took less than a year and I have large tradelines, for the most part low interest rates and excellent cards. Believe me, even though it is hard, it is worth the wait. 

[Anonymous]

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@mxhouse2008 wrote:
I tried the luv button Friday on my capital one platinum credit limit 500 I got we are reviewing your request will receive a document on results in 2-3 days. Well received the document via online and it says I had been declined because there was recent Change to credit line on this account . When I went to the credit line faq it says I have to wait 6 months . I received a credit limit from $100 to 500 in July the card was the rebuilder card they offered but discontinued. Still 6 months I pay Muultiple times a month and pay large payments with 0 balance when statement cuts. But really 6 months called rep and she/he said I can request anytime really don't understand?

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You have to wait 6 months. Citi also has a 6 months rule. Be patient. It takes time to rebuild.

[fltireguy]

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@Anonymous wrote:

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@Anonymous wrote:
Not necessarily true. My Platinum card started at 300 - hit the luv button once week, at 3 months luv button went to 800, at 5 month auto cli to 1300

Qs1 same story at 3 months luv button went 1500, nothing since

---

Both things are true.....

During the INITIAL grow stage...you can get a bump BEFORE the 'steps' AUTO bump hits because the auto bump is set up...well to be 'auto' as part of how the program works.

Then AFTER that it works, as normal...hence the 'nothing since'

Cap-1 has been very very consistent the way they do things...like the big well oiled machine that it is

Ex:

No matter if it's the 'rebuilder program' that started at $100 then autos to $500

or a Plat/Secured at started at X the bump is normally $300...like clock work statement 6/7

a QS1/QS in the steps where the SL is $500 either bumps $500 or $1000 without deviation

*What can and does happen (as the poster experienced, as did I) if one bangs that luv monkey PRIOR to the steps auto CLI 'if' eligilbe

Cap-1 has been known to CLI

again IF done prior to the steps 6/7 statement auto CLI (again this is pre-determined and won't be effected by an'early' CLI...you'll get the auto no matter what)...

now, once that auto CLI hits you're done for 6 months

In the OP's case the way the rebuilder works didn't give them a chance at luv monkey luv because of the product design.....in fairness though

it's a freaking OUTSTANDING program and I for one would complain for ONE second about that restriction on an account that gave up the half a thousand dollar

CL just for managing a $100 line for a few months....then ONLY 'ask' for 6 months of seasoning prior to giving MORE credit.....seriously?

Great freaking program....more ppl would BEG for that type opportunity too bad Cap-1 killed it...I thought it was a superb program for a beginner or 'back-to-the-game' player

wanted my kid to have that one but they cut it before she turned 18....so I like the $200 secured Disco as a 1st time trainer

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When The rebuilder card became available (for the short time that it was), I told my ex wife to apply - her scores SUCK, Seriously, they might be in the high 400's if she is lucky... She was approved, and she just graduated a month or so ago to the $500 limit.... it is (was) a great program!