@UncleB wrote:
@delaney1 wrote:
@Pway wrote:OP what lender are you referring to? Or is this just a general question?
I've definitely seen it in Cap One threads, can't remember if there were other banks. I use my Cap one card a lot, but don't pay on my balance every week and got a nice CLI once my third statement cut.
Ive only been here a few months, but have seen this advice enough for it to stand out to me. Wondering if it was thrown out there as the experience of someone with a low CL and people just ran with it.
+1
When I had a low limit on my QS1 (and it was my only card) I had to pay 2-3 times a month out of necessity; the card statement still closed with a balance showing the account was nearly maxed each month (which killed my utilization). Around 2 years ago they finally loosened up and the CLIs started - my first auto-CLI was $1000, which was more than my total credit limit at the time. After that I only had to pay once a month, but I still let a balance post to the statement... I've just never been one to 'micromanage' my utilization like some folks.
That being said, I don't think my frequent payments contributed to my CLIs, but I do believe the frequent swipes and consistently high utilization definitely helped. Folks may have different thoughts on this, but to me this makes the most sense.
This is my train of thought...the swipes. Allowing my better half and her oldest daughter to be my AU's helped my CLI's significantly! Between Capital one and Amex..they light'em!
I attribute their use, to the total $15,400 in limit increases I've received from both CC companies in the last 6 months.
@UncleB wrote:
@longtimelurker wrote:I got a $2K CLI from Citi on a card I haven't used at all for two years, and a $5K one Cap One and a card not used for 18 months. My daughter went from $1K on AMex to $8K without using it all (or even asking for an increase). So things happen, people attribute it to something they did, and then it becomes gospel.
So, don't use your Amex and they will grant you an 8x CLI (still don't know why that happened!)
I agree with this as well... that same QS1 I spoke of above started getting very little usage once I had a QS Visa Signature (larger Visa limit was easier to use) and when the time came I hit the button for the QS1 and was given another $1k CLI... so obviously they didn't base that one on usage.
I believe it really depends on the account and the credit profile of the person combined. Someone with a strong profile will get a CLI with little effort (i.e. little usage). Back when I was still 'struggling' to get CLIs on that QS1, my profile was rather weak (lots of baddies back then still reporting) so I believe the high usage/swipes made a difference. With the profile I had at that time, I doubt Capital One would have been as 'generous' had I not demonstrated a reason for them to do so.
Before I started fiddling around with this site. I went almost 8 years without a CLI from Capital one. Their reason was I didn't show enough current usage.
Not gospel in my case...the swipes worked for me.
