Limit Increase?

[airborne07]

Thanks for the input, I am noticing that I have more luck getting increases with Discover over Cap One.  I am going to try again for an increase with Cap One in a couple of months. 

[driftless]

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@Anonymous wrote:

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@driftless wrote:
My wife had 2 Cap One accounts, one an old Platinum Visa and a newer QS Visa. The Platinum card was barely used and her monthly payments are low as a result. The QS is used more and her payment, PIF for both, is much higher. The QS receives nice auto CLI's and she was denied when she hit the love button for Platinum. The Platinum was combined into the QS as a result. I started out with 2 Cap One accounts that have been CP'ed and combined nicely. I think that it is true that Cap One likes to see consistent, heavy usage and one or two large payments a month.

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And I've had the opposite experience.  I have the Platinum (MC) and the QS.  The Platnium was my first card.  I was in credit steps, and received an auto CLI from $500 to $1500.  I was preapproved for the QS (and now I barely use the Platinum, I have a few subs on there, which I moved to other cards when they gave me a new acct # this month), which I use quite a bit, and received the auto CLI from $500 to $750.  I get much bigger CLIs on the Platinum than the QS via the luv button (Platinum now sits at $6k and QS at $2650).  I get another shot at the luv button in 2 months,  I'm going to see what CLIs I can get, then combine the card.

So, with Cap1, use it, don't use it, it doesn't seem to matter, they just give random CLIs.

One thing to add is, I usually request the CLI on the Platinum before the QS, so next time I want to CLI the QS first and see if that makes a difference.

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Actually, my experience, as opposed to what I wrote about my wife's experience, was similar to yours.

[takeshi74]

You cannot rely solely on usage for CLI's.

It is also not just a matter of the account itself.

Your entire credit profile and your income are used to determine the limits and CLI's that you qualify for.  If you're not getting CLI's from a creditor then you need to identify their concerns with your credit profile and work on addressing those.  The low limit from CO as well as your scores are also indicators that there are concerns with your credit.  My Discover it sees very little usage and has grown from $5K to $27K.  It's not the only card of mine that has seen significant CLI's and little or no usage.

If you're willing to disclose more about your credit profile we can help you to assess it.

[airborne07]

Makes since,  I am not going to stress it and just go about my buisness as usual.  I will request increases when feasible.  My wife got an increase from Discover and didn't have to do anything.  takeshi74, what you stated made a lot of sense.

[renclan]

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@Anonymous wrote:

I just got a Capital One card and I was hearing from others on the forum that Capital one likes when you use it heavy and pay one time in lump sum. So the 100, 100 wont do. Instead pay 200 one time and maybe one day you will get to your goal. Try to pay in full and if you can't, well. idk what to say. Stay under 9%. Let others chime in on this. I am still in my baby steps. I heard to request a CLI in 2-3months and when credit steps kicks in you get another. Just hit that CLI once a month. 

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I agree that Cap One likes heavy use. Amex is my main card, so I go heavy on the Cap One for a couple months leading up to asking for the increase. I make several payments a month instead of one lump sum and it has worked well for me. Trying to figure out what these cc companies want is impossible lol..

[Anonymous]

Here is my experience. I just got the card and I spent 2800 out of 3k on it. I didn't get the first statement yet but I know the closing date is the 3rd. I just paid 2800 today. Hope that post tomorrow, so I have zero utilization. Now, since I paid and have no statement. I will rinse and repeat. How many statements with this kind of usuage can I go and request a CLI? Can I ask after the first statement, after I pay. So around the 3rd of March?

1) On the site, where is this "love button" every one is talking about?

2) Is that the one under services>Request CL Increase?

3) Does it let you ask how much you want to increase your CLI by? Do they counter your proposal?

4) I seen a post saying he has two months till he hits the luv button. How often are you supposed to hit it?

[EAJuggalo]

Two is the answer to one.  

Three, it asks you income and how much you charge eac h month, I think that's it.

Four, You can hit it as often as you like.  But wisdom around here is that you get one CLI before the Credit Steps Increase, then the Credit Steps, then every six months after that.