Hey forum!
I opened a SavorOne (for Good Credit) in June that started off with a $500 limit. I've checked a couple of times to see if the account was eligible for an increase, and have read that it usually takes 3-6 months for that.
That said, I went into the app today and requested an increase and they offered $100 to bring the line up to $600. This was a little discouraging.
I cancelled the offer so as to not reset the timer again for another increase, but my questions are:
1) Is this the maximum they will offer when I request again? I'm wondering if I should have just taken the small bump or if it was good that I cancelled the request
2) Is that a sure-fire sign that the card is bucketed? I had thought that many of these started with a $500 limit and can grow pretty nicely with time.
I know Cap1 is a tricky nut to crack, but just hoping to make the best decision here. I recently opened another line with them in July, an REI Mastercard that had a $3,000 SL.
I took my Quicksilver from $2,000 to $2,300 to $8,300 to $12,000 in less than 2 years. I got the two big jumps right after I made large purchases that almosted maxed it out (a $2k purchase and then a $6k purchase). My first CLI was only $300. The big jumps to the larger CLs were both in the second year having the card.
@Relatxbles wrote:I opened a SavorOne (for Good Credit) in June that started off with a $500 limit. I've checked a couple of times to see if the account was eligible for an increase, and have read that it usually takes 3-6 months for that.
That said, I went into the app today and requested an increase and they offered $100 to bring the line up to $600. This was a little discouraging.
I cancelled the offer so as to not reset the timer again for another increase, but my questions are:
1) Is this the maximum they will offer when I request again? I'm wondering if I should have just taken the small bump or if it was good that I cancelled the request
2) Is that a sure-fire sign that the card is bucketed? I had thought that many of these started with a $500 limit and can grow pretty nicely with time.
I know Cap1 is a tricky nut to crack, but just hoping to make the best decision here. I recently opened another line with them in July, an REI Mastercard that had a $3,000 SL.
personally, I would take it the $100 CLI and wait the 6 months for hopefully a higher CLI.
You can always try and wait and keep requesting to see if you'll get more, but you might just be waisting time that you could be spending waiting the 6 months after a granted CLI to potentially get a higher CLI to ~$2-3k in 6 months.
Cap1 is exceedingly more generous on their retail cards compared to their core cards, you can't compare their CL's of those cards at all really.
not being a clean profile?, I wouldn't expect exceptional growth from the Cap1 cards, but getting to ~$2-3k in 6-18 months from now is not unreasonable
You are in the land of $100 Capital One specials and there is little hope of ever making it out. That's simply my opinion from personal experience and reading through the forum. Same issue with two cards, which I will be closing shortly. Not bitter or frustrated with Cap One, time to move on and accept what I have will not grow.
Is it bucketed? imho, YES
Is that going to be the max offer moving forward? from personal experience, YES
There may be outliers and you might be one of them eventually but I wouldn't hold your breath for now.
Yeah, I see where you're coming from. I hate to waste valuable time that could be spent waiting for the next CLI but I wonder since my account hasn't fully aged 6 months (only 3 months) if I should just wait for the 6 months of statements for a potential auto-CLI or better offer, I'm surprised they're offering even $100 this early.
Maybe I don't understand the rules but Cap1 is just so confusing.
That said, I bought a car recently and shopped 6 banks (average 13-18%) and Cap1 came in very strong at ~8%. So it seems they valuable my relationship somewhat, just hope I can get some growth out of this and my QS at some point. I almost feel like I will eventually need to close my QS since it started as a 5178 secured, feel like that one is definitely perma-bucketed.
@Relatxbles wrote:Yeah, I see where you're coming from. I hate to waste valuable time that could be spent waiting for the next CLI but I wonder since my account hasn't fully aged 6 months (only 3 months) if I should just wait for the 6 months of statements for a potential auto-CLI or better offer, I'm surprised they're offering even $100 this early.
Maybe I don't understand the rules but Cap1 is just so confusing.
That said, I bought a car recently and shopped 6 banks (average 13-18%) and Cap1 came in very strong at ~8%. So it seems they valuable my relationship somewhat, just hope I can get some growth out of this and my QS at some point. I almost feel like I will eventually need to close my QS since it started as a 5178 secured, feel like that one is definitely perma-bucketed.
I missed the fact that your CLI being offered was 3 months, that's a good sign that cap1 likes you
your card will make it to $1k - $3k at some point depends how vitally important it is that it is as fast as humanly possible or just normally fast
you can always decline to see if your 6 month CLI will be more, but I just take it and start the 6 month timer so the next CLI can be the big one. just make early payments in the mean time if you're spending more than your limit currently is, I wouldn't worry too much about it tbh.
