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@Anonymous wrote:
Ive read a few places that supposedly, if you use the card more in the month your ljmits will be bigger increases and sometimes more often.
Is this true? Use a lot, pay off as you go except maybe 7 or 8% to have there when the statement cuts, then PIF at the statement?
Is this true?
Specifically with NFCU, capital one and discover?
Using the card a lot, paying as deemed necessary, and always paying statement balances in full is a great formula for Capital One. You don't necessarily have to leave a positive balance on the statement.
Discover has no preference that we've been able to pin down. Flip a coin, roll some dice, read some tea leaves, or check your horoscope.
I think time is your most valuable asset with NFCU, but I'm not the most qualified to comment on them. Hopefully, someone will chime in.
NFCU values DTI, overall utilization, and time to get to know you. When I asked for my CLI on my cashRewards when I hit 91/3 last month, I had a small balance on the card and it went from $3K to $7.5K (what I requested). I had demonstrated my ability to make large payments though, always paying my statement balance and paying down my balance to no more than 10% before statements cut.
Cap definitely values lots of spend and statements paid in full. My QS was the first card I got after my bankruptcy, a $500 credit steps Platinum in 2014. It is now an $8250 QS which is pretty much unheard of for a bucketed starter card but I literally just had one card for about a year and then added the PlayStation (also Capital One) to my wallet so Cap got very familiar with my ability to spend and pay, including carrying a large balance (relative to my income) and paying it off quickly which is probably why they gave me an additional $2000 when I asked for my CLI in March before I got all of these other great cards.
Discover... nobody knows. I doubt they even know.
@Anonymous wrote:
Discover... nobody knows. I doubt they even know.
@Anonymous
Haha, yeah, I've called Discover and asked them a few times about the cli secret and they won't tell me. They also state that they are not allowed to give advice and refer me to seek out a credit counselor if I felt I needed it, lol. (I don't need counseling, just the "magic cli bullet".)
@GApeachy wrote:
@Anonymous wrote:
Discover... nobody knows. I doubt they even know.
@Anonymous
Haha, yeah, I've called Discover and asked them a few times about the cli secret and they won't tell me. They also state that they are not allowed to give advice and refer me to seek out a credit counselor if I felt I needed it, lol. (I don't need counseling, just the "magic cli bullet".)
I think they do it like PenFed does approvals. Monkeys and a dart board.
@Anonymous wrote:
@GApeachy wrote:
@Anonymous wrote:
Discover... nobody knows. I doubt they even know.
@Anonymous
Haha, yeah, I've called Discover and asked them a few times about the cli secret and they won't tell me. They also state that they are not allowed to give advice and refer me to seek out a credit counselor if I felt I needed it, lol. (I don't need counseling, just the "magic cli bullet".)
I think they do it like PenFed does approvals. Monkeys and a dart board.
....oops, delete my comeback (not nice) Isn't there a thread about Discover and datapoints on here somewhere?