Another question for the fine myFICO community 
Two of my Capital One cards are being particularly stubborn with the CLI luv buttons. I most recently hit the button on both last month after the statements cut and got declined, the reason being "payment-to-balance ratio is too low." So essentially, I've got to make larger payments to bring the balances down -- no problem, I've made some budgetary moves to free up a bit of extra cash for this. What I'd like to know is, how soon after I make the payment would that have an effect on the outcome of the luv button? I'm planning to make each payment when I get my paycheck this Saturday, which is a few days before the due dates. Statement cuts about a week after the due dates. If I make a payment on Saturday, would it make sense to hit the luv button right after the payment has posted? Wait til after the due date? Wait til after the statement cuts? If at all possible, I'd like to score the CLI before the statement cuts so that the new CL and lower UTIL is reported.
Currently, the cards in question are at the following states:
- Visa Platinum -- $1500 CL, 67% UTIL, planning to pay at least $150 (6x minimum) to get below 60%
- MC QuicksilverOne -- $1600 CL, 78% UTIL, planning to pay at least $300 (10x minimum) to get below 60%
If I had the means to bring the util down below 10%, I wouldn't need the CLIs in the first place. My goal is to bring down util through a combination of payments and CLIs in a short amount of time so that my credit profile looks better to lenders when I start dropping apps in a few weeks (hopeful) or next month (more likely). Unfortunately, these aren't the only high-util cards I'm trying to deal with (though they are my two highest), but they're also the only ones that I can request SP CLIs for at the moment.
As for my other "project" accounts, I just received auto-CLIs last month to my Amazon (37%), Sears MC (55%), and CapOne Platinum MC (43%) accounts -- so they're off the table for additional increases; and I think my Best Buy MC (48%) is too new at 3 months to be eligible for SP CLI or auto-CLI. So, now I'm spreading my extra CC payment cash across all of these accounts including the aforementioned CapOne cards to help bring them down to more attractive util levels.
I doubt that paying 10% of the outstanding balance will change "payment-to-balance ratio is too low." Cap1 likes heavy usage for their CLI but also larger payments. Good luck with the luv button 
... it is a SP so there is no risk to try again. I would do it after the next statement cut and pay the balance down before.
Oh, I should have been more clear... the $150 and $300 payments are what I currently have budgeted, but I've shuffled some things around to free up extra cash for additional payments to these cards (how much more, I haven't decided yet -- probably an extra $100 each). Sorry about that.
The core of my question hasn't really been addressed, so let me restate that: if I make my larger-than-usual payment to one of these CapOne cards and wait for it to post to the account, would it be effective at all to hit the luv button prior to the statement cut, or would their system not consider my recent payment activity prior to the cut? Supposing that I would be granted a CLI regardless of whether I requested before or after the cut, it's more useful to me to have that higher CL / lower util reported this month rather than next month.
I just don't think you'll get a CLI with utilization that high, but good luck!
I appreciate the advice, you guys, but I already know this information. I am actively working to reduce my utilization -- it's been my point of obsession for the past year, so I am acutely aware of the impact that uitl has on a credit score. Can somebody please just answer my question? Don't even make it about my situation specifically, just generalize: if someone makes a payment to CapOne (or any lender, really) then requests CLI prior to the statement cut, will that payment be factored into the decision or will it be ignored until after the cut?
Thank you.
takeshi74 wrote:
It has been addressed.
No, I'm afraid it hasn't. You're too busy lecturing me on Credit 101 to notice that I am asking about a lender's automated process and not about "will I get approved?". You're correct that there are many factors about one's credit profile that weigh in on a credit decision, and I am fully aware of the factors in which I am deficient and that I need to work on. This specific question I had is not really about that. I just want to know more about their process and if it is worth it for me to attempt to use it to my advantage or not, because that affects my budget planning. I gave context about my situation since that's what people like to see here, but it appears that backfired on me.
@OHWWCB wrote:I just don't think you'll get a CLI with utilization that high, but good luck!
FWIW, the other Capital One card of mine that did get the CLI last month (from $1000 to $1500) did so under 65% utilization with my usual $50/month payments (2x minimum) over this year. The cards in question are similar in util but have higher CLs and higher balances, leading me to believe that if I just bring down the balances by moderate amounts, that may be enough to tip the decisions over to yes. Of course, different cards are different situations, so I know to take that with a grain of salt.
@sarux3 wrote:
@OHWWCB wrote:I just don't think you'll get a CLI with utilization that high, but good luck!
FWIW, the other Capital One card of mine that did get the CLI last month (from $1000 to $1500) did so under 65% utilization with my usual $50/month payments (2x minimum) over this year. The cards in question are similar in util but have higher CLs and higher balances, leading me to believe that if I just bring down the balances by moderate amounts, that may be enough to tip the decisions over to yes. Of course, different cards are different situations, so I know to take that with a grain of salt.
I know this is an older thread but no one addressed the question the OP had so I will in hopes that he/she and others will take from...
If you are using the CLI button on the site/or phone automated system, this should take place after statements are cut and towards the end of a given month (this is when capital one usually soft pulls it's account holders).
For example, let's say you made some pretty large payments during your current statement cycle and your statement ends on the 20th of the month, I would not request a CLI until like the last day or 2nd to the last day of the month (e.i.,the 29th or 30th)
If you wish to be considered for a CLI and not want to wait for the statement cycle to end BUT have made significant payments, improved on utlization, etc. then your only alternative is to contact the EO in which they will manually review your account.
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