I've had a Cap1 QS1 for almost 4 years, which I received during an initial rebuild. It's been stuck at an $800 limit for quite some time now. Whenever I request a CLI, the reasons for denial are not large enough payments and high utilization of existing credit. I receive those reasons no matter what I pay and whether the card is carrying a zero balance or not. I've been approved for 3 other Cap1 cards since. I just tried another request after making a $500 payment and having a 25% utilization on it. Got the 2-3 day message. I'm basically done with this card. It's my oldest card by 8 months, but I'm thinking about combining it into my QS. I have enough cards that I'm not worried about age, but has anyone else gotten stuck like this and somehow got out, or should I just combine it?
If AAoA is not a problem, I would merge it with another card that works for you. I would not bother with lower limits unless I was in a critical rebuilding stage.
Personal cards:
@Anonymous wrote:What's the balance that you're carrying?
What payment amount are you making per month?
Currently, $200 after making a $500 payment. I average between 0-25% utilization and my payments are no less than 4x the minimum, averaging $2-500 per payment as I push almost 2k through it a month. It had a high balance this month because I just got back from Vegas, but paid down before statement cut. Before I went to Vegas it had a 0 balance.
@Zolomon wrote:If AAoA is not a problem, I would merge it with another card that works for you. I would not bother with lower limits unless I was in a critical rebuilding stage.
My AAoA just dropped to 1 yr 8 mos after my latest app a couple of months ago. I'm at the current stage of fair credit where I'm good enough that I don't need rebuilder cards, but not good enough for decent cards.
@Brian_Earl_Spilner wrote:I've had a Cap1 QS1 for almost 4 years, which I received during an initial rebuild. It's been stuck at an $800 limit for quite some time now. Whenever I request a CLI, the reasons for denial are not large enough payments and high utilization of existing credit. I receive those reasons no matter what I pay and whether the card is carrying a zero balance or not. I've been approved for 3 other Cap1 cards since. I just tried another request after making a $500 payment and having a 25% utilization on it. Got the 2-3 day message. I'm basically done with this card. It's my oldest card by 8 months, but I'm thinking about combining it into my QS. I have enough cards that I'm not worried about age, but has anyone else gotten stuck like this and somehow got out, or should I just combine it?
Your age of accounts is close enough, so it shouldn't matter at all. Combine it and move on. The card will still be counted for its age for up to 10 years after closing it. It's common for CapOne cards obtained with less-than-stellar or new credit to never grow. I just closed my last CapOne card that was made up of numerous CapOne cards that never got a CLI over 20 years, but most people seem to have better luck with cards opened up later.
Yeah, you can either consolidate limits into it or close it and move the limit into a different card.
Mine was stuck at $1100 for 8 years. Never could get an increase. But I was able to get other Capitol One cards. That's why that $1100 card is now $49.5k. 😉
@Gmood1 wrote:Yeah, you can either consolidate limits into it or close it and move the limit into a different card.
Mine was stuck at $1100 for 8 years. Never could get an increase. But I was able to get other Capitol One cards. That's why that $1100 card is now $49.5k. 😉
So, after you combined into it, did it start to grow on it's own? Did you start getting CLIs? Just curious, if anything, I'm going to combine into my regular QS as it's no AF and I got it with a better score, so I'm hoping that one isn't in a bucket. Though I did convert it from a Platinum.
@Brian_Earl_Spilner wrote:
@Gmood1 wrote:Yeah, you can either consolidate limits into it or close it and move the limit into a different card.
Mine was stuck at $1100 for 8 years. Never could get an increase. But I was able to get other Capitol One cards. That's why that $1100 card is now $49.5k. 😉
So, after you combined into it, did it start to grow on it's own? Did you start getting CLIs? Just curious, if anything, I'm going to combine into my regular QS as it's no AF and I got it with a better score, so I'm hoping that one isn't in a bucket. Though I did convert it from a Platinum.
No, once I combined them , I had already hit my max exposure with Capital One.
Your profile may be different and allow more growth than mine.
I got 5:44