How much over the min payment do cc companies want to see?

[cr101]

Cap1 lists a reason for possible CLI decline as the monthly payment not being high enough. It suggests paying more than the min monthly payment. How much over do cc companies like to see?

Do you know if they take into account if you have a 0% offer w them and may be trying to take advantage of that---or is any min monthly payment generally seen as bad?

[Anonymous]

You want to pay at least 2X your minimum ideally. Some lenders like AMEX and Chase, it's probably better to pay 3X. 

Lenders want to feel secure that you are going to pay them back. Minimum payments make them anxious about getting their money and they can react by slashing limits and balance chasing, especially on riskier profiles like young/thin or previous derogs. 

Many of us will use a 0% period and divide the balance across the 0% period. Like if I charge $2K on a card that has 0% for 14 months, I'll divide that $2K by 13 (to make sure it's paid in full before the intro ends) and pay 13 payments of $153.85 a month. 

[Shooting-For-800]

3x is my min min on any account regardless of promo.

If trying to build credit, I would take promo length and divide by 1 less month.

$1100 balance for 12 months 0% = at least $100 per month.

NO! I did not copy saeren!  LOL!  GL!

[AverageJoesCredit]

Im gonna say 100%
Most lenders prefer all of it paid back lol

Being Cap One, they want heavy spend, paying miniumum most likely isnt good enough to get cli imo

[Brian_Earl_Spilner]

When i maxed out my qs1, the minimum payment was $27. If I tried to pay the minimum, they would suggest I pay $40.  So, it would appear that they would like about 1.5X the minimum payment. Other lenders may want more.

[NRB525]

The OP question is misguided. 

While carrying a 0% offer on this card, Capital One is saying "we will not give you a CLI at this time". There is probably not a "monthly payment amount strategy" that will lead to a CLI. Said differently, this Payment Amount Reason Code is more often a throw away "must provide something" than a hint from the bank. 

Best to enjoy the 0% on the balance, or increase the balance on the 0%, within the existing CL, and try for a CLI after the 0% expires and the balance is paid off. It is quite possible there will not be a CLI on this card even then. 

[cr101]

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@NRB525 wrote:

The OP question is misguided. 

While carrying a 0% offer on this card, Capital One is saying "we will not give you a CLI at this time". There is probably not a "monthly payment amount strategy" that will lead to a CLI. Said differently, this Payment Amount Reason Code is more often a throw away "must provide something" than a hint from the bank. 

Best to enjoy the 0% on the balance, or increase the balance on the 0%, within the existing CL, and try for a CLI after the 0% expires and the balance is paid off. It is quite possible there will not be a CLI on this card even then. 

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sorry for the confusion. this isn't a denial letter that i received; this info is publicly available on their site and i was reviewing it. 

thanks for the advice, everyone. i'll certainly pay at least 2x the minimum and think about spreading the pmts out over the 0% period. i won't be losing much money by paying more each month instead of investing the extra payment into savings. so, i still win. 

[Traveler101]

Kudo to you @cr101. You have been reading I see on Cap1 site faq. Congrats to you doing your homework. Good luck!

[kudosalert]

I do this as well. I have 4 months left on one of my cards and i'm going to make 1/4 of the total balance this month. 

[CashBackQueen]

I was getting the same denial reason on my Cap One biz card when I was carrying a balance, then after paying about 10x the minimum for about two months straight they gave me an increase. I don't think you'll need to pay that much above, like other posters mentioned 3x should be enough, I just wanted to get that balance down. But once you do that, they should grant it soon after.