In an effort to coax capital one into giving me a CLI I'm considering letting my balance post again. I stopped doing that to please Amex so I could get an increase with them, so I'm thinking after I get my Amex CLi I'll try to coax capital 1.
The fico simulator does not have an option to increase your balance, only to pay off your balance, and even so they are not known for being super accurate, so please help me guess my score drop if I were to do this.
my balances would look like this
cap 1- about $4500/5000 90% util
chase-$0/10000
amex-$0/1000
aggregate-$4500/16000 (28%)
let's use Experian in this scenario, current score is 706.
aaoA-2 years 3 months
1 missed payment that's 4 years old
I've got a hard time believing, or understanding the logic, that if you let a balance report on a card from Bank A, then Bank A will be more inclined to give you an increase. They see the spend and payments regardless.
Honestly I don't know what to believe.
I got my first increase from them without letting balances post, and it was substantial.
but now it's time for my second increase, and they denied me and are hitting me with the "we are evaluating usage at current limits"
Most people believe that means they are unsure if you are utilizing enough of your current limits.
And if they say "usage too low at current limits" then your spending is 100% too low. Some people disagree on what evaluating usage denial code means, but most tend to agree. So I figured it was worth a shot.
plus the fact that there are so many stories of people struggling to get increases and then they max out their cards and bam, 3 months later they get one. So I don't know anymore. Capital 1 is too hard to gauge.
that explanation makes a lot more sense, that was what I first thought as well until I researched the exact denial code I received, and everyone except you and 1 other person said that means I'm not spending enough. Which made me start to second guess myself, which is what prompted me to come over here. Then they claimed they let larger balances post and the denial reason went away, but it could just be that they got more experience with that credit limit, NOT the large statement balances.
Since most of the information I'm referencing was found on Reddit. And I'm more inclined to believe you/others on my fico over anyone on Reddit. I will probably just wait it out and see what happens.
thanks!
Maxing out a single card to 90% utilization will almost certainly cause a noticeable score drop; even if your overall utilization stays under 30%. For many profiles; that kind of high individual card usage can knock 20–40 points off temporarily. The good news is the drop should reverse once you pay it back down before the next statement closes. If you go this route; just make sure you can bring it back under 30% quickly to avoid any lasting impact.
Yea as far as I've seen Amex doesn't play those stupid games with people. It's really only cap 1 that has a terrible rep for "only granting CLi if you allow heavy balances to report" there's probably thousands of threads on the exact topic on Reddit. And all of their "top 1% commenters" repeat the message as well. (Their top 1% commenters is Reddit's version of community leaders/credit mentors)
