Cap One Quicksilver CLI - question

[Anonymous]

So I just had my 3rd statement cut on my Cap One Quicksilver. It's currently at 15% usage and I have another Cap One unsecured MC that is a $500 limit with no balance.  I am JUST beginning my rebuilding journey and only want the CLI for a higher overall credit limit on my reports. From reading on the forums, I have seen that some people requested a CLI after the 3rd statement and then got another one at 5 months as part of the Credit Steps program. So, I just went on and submitted my request and got a "you'll receive our response in 2-3 days" message.  Is this a bad sign?  Do they typically give instant decisions?  I am figuring that message means I won't be approved but I wanted to check and see what other's experiences were.  Also, if they do decline me today, when is the next time I can request a CLI?  Thanks!!

[Anonymous]

Yes, I think that usually means no. I would try again next month.

[Anonymous]

Since the CLI request is a soft pull - you can technically ask for one every day - not that I recommend it.

For me the 2-3 day message was always a decline - when I finally got mine - both shortly after 2nd statement - they were instant.    I am still supposed to get the auto increases on credit steps at statement 5.  

Wait and see what you get for a decision - if declined - wait a week and try again.  That's what I did and each card was bumped to $1500.  (they also seem to like to see usage - so I use the cards and pay them off/down several times throughout the month).  Maybe that helped......

[Anonymous]

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@Anonymous wrote:

So I just had my 3rd statement cut on my Cap One Quicksilver. It's currently at 15% usage and I have another Cap One unsecured MC that is a $500 limit with no balance.  I am JUST beginning my rebuilding journey and only want the CLI for a higher overall credit limit on my reports. From reading on the forums, I have seen that some people requested a CLI after the 3rd statement and then got another one at 5 months as part of the Credit Steps program. So, I just went on and submitted my request and got a "you'll receive our response in 2-3 days" message.  Is this a bad sign?  Do they typically give instant decisions?  I am figuring that message means I won't be approved but I wanted to check and see what other's experiences were.  Also, if they do decline me today, when is the next time I can request a CLI?  Thanks!!

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Yeah, its a denial - in a day or two there will be a document in your account that will explain why. You can request as often as you like. CLI decisions are based on EQ FICO Score 5, not FICO 8.

[hpotterfan77]

I just got my first CLI on my Cap One Platinum at 63 days post approval.  I use my cards a lot and make payments a lot.  Mine went from $300 SL to now $800.00 so more than double the SL.  I would say use your cards and make frequent payment and you should be able to get a bump soon.

[Anonymous]

I got my two CLI's two weeks before my third statement, 1000$ each bringing them both to 1500$ each..Also got both Platinums upgraded to Quicksilver (not QS1) Master Cards with no annual fee.

[Anonymous]

I got my CLI on my QS1 after the 4th statement. I hardly use my Platinum and they said I don't use it enough. Asked for one on my QSVisa today and got the 2-3 day message which will be a denial. Just keep asking, eventually you will get one.

[Anonymous]

It's just frustrating. I have used the card 15 times and made 6 payments since Sept 9th.  I have maxed it out and paid it back down twice because I heard this was what they want to see, that you have the ability to handle "large" payments.  I am not really sure how much more they want me to use it but whatever.  I'll probably wait to try again after the next statement. 

[Anonymous]

I asked for mine lust a week before my fourth statement cut and i got ot immediately. So you probably didnt get it. Sorry.

[Anonymous]

Also... I used mine instead if my debit card. I max and pay it off every two weeks and then I make sure that it is all paid but a few dollars right before the statment cuts so itreporta a low utilization. Someone told me to do it that way and so far it seems to work. Good luck.