@BallBounces wrote:I am going to be a voice of minor dissent (or reason?) here.
Although Capital One and other lenders certainly keep spend records and trended data as described above, the "spend and pay multiple times per month behaviour" is not normal, typical, nor expected. It is also not central to whether one will get a credit line increase at some point in the future.
I am not saying you should or should not use a credit card in this way. But it is my opinion that the benefit of this recommended spending type is certainly over stated, and is definitely not what a credit card issuer is "lookign for" or "likes" from their customers, whatever those terms mean.
Your credit line is represenative of the level of tolerance of your risk to the lender. It is not a measure of how much the lender thinks you have available to spend.
Problem is we're talking about cap1 and cycling the limit has been proven to lead to CLIs. I did it on my oldest cap1 card and I started receiving them for the first time in over 3 years. I did it for my other 2 and received CLIs 6 months after my credit steps. They stopped when I stopped using them. There are plenty of other people here that have the same story. While other lenders may not like the practice, cap1 appears to.
I know this isn’t part of your question but can you get SP CLI on your JCrew in the meantime?
@Brian_Earl_Spilner wrote:
@BallBounces wrote:I am going to be a voice of minor dissent (or reason?) here.
Although Capital One and other lenders certainly keep spend records and trended data as described above, the "spend and pay multiple times per month behaviour" is not normal, typical, nor expected. It is also not central to whether one will get a credit line increase at some point in the future.
I am not saying you should or should not use a credit card in this way. But it is my opinion that the benefit of this recommended spending type is certainly over stated, and is definitely not what a credit card issuer is "lookign for" or "likes" from their customers, whatever those terms mean.
Your credit line is represenative of the level of tolerance of your risk to the lender. It is not a measure of how much the lender thinks you have available to spend.
Problem is we're talking about cap1 and cycling the limit has been proven to lead to CLIs. I did it on my oldest cap1 card and I started receiving them for the first time in over 3 years. I did it for my other 2 and received CLIs 6 months after my credit steps. They stopped when I stopped using them. There are plenty of other people here that have the same story. While other lenders may not like the practice, cap1 appears to.
I understand the anecdotes regarding cap1. I am not saying cap1 dislikes cycling multiples of their credit line per month. I am simply saying cap1 likes improved and enhanced credit profiles. I am saying speding multiple credit lines per month is not "normal". I am saying it is not what I prescribe for good credit health.
My opinion, based on information I will not share, is that there is a confirmation bias associated with this cycling leading to an increased credit line. Without sharing more detail, it remains just that, an opinion.
Most importantly, I have no doubt you personally have been succesful with your methods, so of course kudos for that and thanks for sharing.
