How I increased my cap1 cl by then times in 6 months

[onemangang]

I got my first credit card in Oct of 2012. My limit was 300 dollars. Over the next 6 months I used the card regularly, and as Im sure anyone could see it was very easy to use up the 300 dllar cl. My approach to this was every single time I used th card I paid the entire balance in full in no more than 24 hrs. I did this for 6 months. On my 6 month anniversary of receiving my card I received an autometed CLI fromcap1 raising my limit from 300 to 3000! I thought this had to be a mistake. I had read on credit forums that people that hadthis same cap1 card could never get there cl above 500-700 dollars. So I called in and discussed it with a rep from cap1. She told me that my dramatic cli was due to me immediatey paying off any charge I made. They were fully aware that I paid my charges almost the moment I made them. Hope this helps!

[Smooth954]

Sound like they need to start making some interest money off you. The limit of 300 was clearly well below your means. You paid what you charge almost instantly rarely leaving a chance for interest to occur, sounds like they increase your limit that high in hopes that if you rack up 1200 on a purchase you may not be able to pay it instantly this way they can at least benefit from some interest. This is good to know. Gotta use all tools in your knowledge arsenal. Just don't view this as a gesture of goodwill there guys are in business to make money so I always view any method to their madness as some deeper plot to separate us from some of our money. Lol

[onemangang]

Oh yes I knew that immediately. I saw the angle. I am onl using credit cards to build my score, an emergency, and travel. I have a 6 figure income, and normally pay cash. I have about 25k in available credit, and pay it off almost them moment i sue any of it via my debit card. I just felt like my experience shed some light on those confused about carrying a balance or not. I do not for one moment consider what cap1 did to be a gesture of good will. I could put my cards in a drawer and never use them again, and be absolutely fine. 

[red259]

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@onemangang wrote:

Oh yes I knew that immediately. I saw the angle. I am onl using credit cards to build my score, an emergency, and travel. I have a 6 figure income, and normally pay cash. I have about 25k in available credit, and pay it off almost them moment i sue any of it via my debit card. I just felt like my experience shed some light on those confused about carrying a balance or not. I do not for one moment consider what cap1 did to be a gesture of good will. I could put my cards in a drawer and never use them again, and be absolutely fine. 

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Yea, I was a debit card guy for years and really don't need credit. I just got into the credit card thing, because of the points I could accumulate as a result since I really like to travel and eat out.