How much should I request for Capital One Platinum CLI?

[Anonymous]

Hey everyone,

New to this fourm glad to be here!

I started my credit in Dec 2019 after waiting a long time to get a credit card.

I have worked my credit up and made on time payments everytime.

I just recentally paid off all my credit I owed about $1000, and now owe nothing. I'm sitting at a 694 transunion, but its expected to go to

734 once these payment update on my report.

So one thing I've been confused about is I've had my Capital One Platinum card sense Dec 2019 when I started and have only been inceased to a 500 limit 4 months after getting the card. So right now I'm a little over a year without recieving a increase and think I need to request one because all I have right now is 2 store cards besides this regular card and 500 isnt cutting it anymore.

So with all of that said my main question is how much should I put in the request form under "Maximum Desired Line" and how much should I put under the "How much will you spend each month on this credit card?" section? I was thinking to put $10k for maxium desired and $1-2k for amount spend each month. Also it does ask for "Monthly Mortgage or Rent Payment" but I dont currently pay either, so I'm guessing ill keep this as $0?

Last thing I was wondering is should I wait for my credit score to update to 700-735 before putting in the request or should I be good to do it now with my 694 trans/701 equi score?

Thanks for the help everyone, I'm really excited to raise my limit and work to get new cards

[SirMilo]

Welcome to myFICO @Anonymous  .

I would say shoot for the moon on a CLI request with Capital One. I honestly wish you the best of luck but don't be disappointed if you get a low CLI or none at all.

My scores are around 800 and I've had a total of a single CLI granted for $250 on the Platinum that i've had since 2006. You have nothing to lose by going big on your request. I have finally abandoned asking and only keep it active since it adds 15 years of account age. Let us know how it plays out.

[Horseshoez]

Keep in mind, CapOne is very conservative when it comes to CLIs; said another way, what you ask for and what you get are probably going to be very different unless you ask for a CLI of only $100 (which is most likely what you'll get regardless of your ask).

As an example, I opened up a CapOne Quicksilver in December 2020; my initial line of credit was $3,000, and to be quite honest, I was happy with that.  Early this month, just for kicks and giggles, I asked for a CLI; I updated my income as I'd recently accepted a new job which comes with an increase in salary of nearly 60% and asked for a CLI of another $3,000; I got $300.  I know lots of folks here would be disgusted with such a tiny amount, but personally I don't care, I rather doubt I'll ever get anywhere near the limit as I pay the card in full every month, and I spread my charges across my three cards (the other two have significantly higher limits).  

With the above said, if you really want a higher credit limit, and based upon what you wrote it could come in handy, I recommend you apply for a different card from CapOne.  I did this last year and went from a "bucketed" Platinum card (since closed) with a very low limit to the aforementioned Quicksilver card.  Given your eighteen month history with them, my guess is you might land a card with a starting limit of about $5,000.

[Anonymous]

It really doesn't matter what amount you request so if you'd like an extra $1000+ then go for it. However, I will caution to temper your expectations because if this card is bucketed, and it very well might be since it sounds like you were in credit steps, then the odds of Cap One ever offering a substantial increase for it are slim. 

2nd Edit: If interested in a new card I would suggest figuring out what your major spend categories are and determine what cards would be most beneficial for you. If its a card Cap One has then great, if not then you can start to narrow down an application strategy. 

[Ficoproblems247]

I agree with what the other wise members have already stated as far as what to use for amounts, as well as having very tempered expectations regarding CLIs with them. Capital One does quarterly account reviews via SP. When requesting a CLI they will go off of whatever snapshot of your profile that they used during their last AR. This means that what they use for your CLI decision may be up to 3 months old. It's fantastic you lowered your utilization, however it will likely have no bearing on your CLI attempt unless they SP your reports during that specific timeframe. It sounds like you have a great start to your credit build. Have you been doing research on other lenders to see what other cards are out there that would better fit your spend? With a year and a half of history and a clean profile, you should have a considerable amount of doors open to you. While Capital One is a wonderful lender to build with, there are most certainly bigger fish to fry out there in the sea of credit products. 

[Mr_Mojo_Risin]

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@Anonymous wrote:

Hey everyone,

New to this fourm glad to be here!

I started my credit in Dec 2019 after waiting a long time to get a credit card.

I have worked my credit up and made on time payments everytime.

I just recentally paid off all my credit I owed about $1000, and now owe nothing. I'm sitting at a 694 transunion, but its expected to go to

734 once these payment update on my report.

So one thing I've been confused about is I've had my Capital One Platinum card sense Dec 2019 when I started and have only been inceased to a 500 limit 4 months after getting the card. So right now I'm a little over a year without recieving a increase and think I need to request one because all I have right now is 2 store cards besides this regular card and 500 isnt cutting it anymore.

So with all of that said my main question is how much should I put in the request form under "Maximum Desired Line" and how much should I put under the "How much will you spend each month on this credit card?" section? I was thinking to put $10k for maxium desired and $1-2k for amount spend each month. Also it does ask for "Monthly Mortgage or Rent Payment" but I dont currently pay either, so I'm guessing ill keep this as $0?

Last thing I was wondering is should I wait for my credit score to update to 700-735 before putting in the request or should I be good to do it now with my 694 trans/701 equi score?

Thanks for the help everyone, I'm really excited to raise my limit and work to get new cards

---

You've been given great advice regarding the CLI.

Something else you can check for is an upgrade on your Platinum. 

After 100 days, myself and many others here were able to upgrade our Platinum cards to the Quicksilver with no AF. 

Check the search bar here for the link.

I don't know how to add links 😅

Good luck!

[Anonymous]

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@Anonymous wrote:

Hey everyone,

New to this fourm glad to be here!

I started my credit in Dec 2019 after waiting a long time to get a credit card.

I have worked my credit up and made on time payments everytime.

I just recentally paid off all my credit I owed about $1000, and now owe nothing. I'm sitting at a 694 transunion, but its expected to go to

734 once these payment update on my report.

So one thing I've been confused about is I've had my Capital One Platinum card sense Dec 2019 when I started and have only been inceased to a 500 limit 4 months after getting the card. So right now I'm a little over a year without recieving a increase and think I need to request one because all I have right now is 2 store cards besides this regular card and 500 isnt cutting it anymore.

So with all of that said my main question is how much should I put in the request form under "Maximum Desired Line" and how much should I put under the "How much will you spend each month on this credit card?" section? I was thinking to put $10k for maxium desired and $1-2k for amount spend each month. Also it does ask for "Monthly Mortgage or Rent Payment" but I dont currently pay either, so I'm guessing ill keep this as $0?

Last thing I was wondering is should I wait for my credit score to update to 700-735 before putting in the request or should I be good to do it now with my 694 trans/701 equi score?

Thanks for the help everyone, I'm really excited to raise my limit and work to get new cards

---

Shoot for the moon but expect very very little.   You'll be lucky to get another $2000 with these guys.   They nickel and dime you for CLI

[micvite]

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@Mr_Mojo_Risin wrote:

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@Anonymous wrote:

Hey everyone,

New to this fourm glad to be here!

I started my credit in Dec 2019 after waiting a long time to get a credit card.

I have worked my credit up and made on time payments everytime.

I just recentally paid off all my credit I owed about $1000, and now owe nothing. I'm sitting at a 694 transunion, but its expected to go to

734 once these payment update on my report.

So one thing I've been confused about is I've had my Capital One Platinum card sense Dec 2019 when I started and have only been inceased to a 500 limit 4 months after getting the card. So right now I'm a little over a year without recieving a increase and think I need to request one because all I have right now is 2 store cards besides this regular card and 500 isnt cutting it anymore.

So with all of that said my main question is how much should I put in the request form under "Maximum Desired Line" and how much should I put under the "How much will you spend each month on this credit card?" section? I was thinking to put $10k for maxium desired and $1-2k for amount spend each month. Also it does ask for "Monthly Mortgage or Rent Payment" but I dont currently pay either, so I'm guessing ill keep this as $0?

Last thing I was wondering is should I wait for my credit score to update to 700-735 before putting in the request or should I be good to do it now with my 694 trans/701 equi score?

Thanks for the help everyone, I'm really excited to raise my limit and work to get new cards

---

You've been given great advice regarding the CLI.

Something else you can check for is an upgrade on your Platinum. 

After 100 days, myself and many others here were able to upgrade our Platinum cards to the Quicksilver with no AF. 

Check the search bar here for the link.

I don't know how to add links 😅

Good luck!

---

So a question I've been wondering, but if you product change, does that take you "out of the bucket" aka does that reevaluate which category of ABS they put you in or does it stay with whatever the initial one was?

[jcooks]

Product changes can get the card out of the bucketed category.  The only issue with going that route, most bucketed cards have low limits and PC'ing into a non-bucketed card won't automatically give you a CLI.  You still have to request it.  I think with CapOne, the PC should only be used to get away from an AF.  Otherwise, just app to a new card either with CapOne or a different lender all together.  CapOne has been very valuable to me and many other in credit rebuilding.  But at a certain point, CapOne rebuilder cards have to either be let go or just sock drawered.

[micvite]

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@jcooks wrote:

Product changes can get the card out of the bucketed category.  The only issue with going that route, most bucketed cards have low limits and PC'ing into a non-bucketed card won't automatically give you a CLI.  You still have to request it.  I think with CapOne, the PC should only be used to get away from an AF.  Otherwise, just app to a new card either with CapOne or a different lender all together.  CapOne has been very valuable to me and many other in credit rebuilding.  But at a certain point, CapOne rebuilder cards have to either be let go or just sock drawered.

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Yeah, makes sense... honestly my luck with CLIs has been when I was near maxing out the card for statements in a row, paying interest, or even OVER my CL, and magically got auto CLI... same with my friends and mom, and they've gotten massive CLIs just for having 80-90% util on the card constantly(not PIF, carry the balance) my amex did this, from 300-500 then from 500-1k the next month. And any CLI from discover was the same, fairly high usage carried for months at a time. As soon as I started PIF nothing lol