Capital One CLI

[Anonymous]

That's the general idea... open a new card with Capital One, assuming one suits your needs, then transfer the limit from your old card to the new one and close out the old one.  If your scores were near 600 or slightly above that's definitely the issue you're having with CLIs.  You'll get $500 or $0 CLIs, that's it.  I've been there.  I had a score of 619 at the time of approval and with 750-800 scores now I can't get a CLI on that account due to the terms under which it was opened.  If your scores are 20-30 points higher now I'd say you need to garden more first.  You want your scores to be around 700 when you apply for your next CO account to ensure it's approved under solid terms so you have a card that you can grow.  The last thing you want is another dud in your wallet, so I'd sit tight if I were you.

[Anonymous]

Thank you

[Anonymous]

These may be mortgage scores which could be lower than your actual FICO scores. Have you purchased your FICO scores lately. Do you have a current subscription on this site...???

[Anonymous]

Those are direct from the site .. yes a current subscription.  

[bettercreditguy1]

I was forutnate as My Fico Scores never went below 700. They did start me very low, it seems like 300. then the steps to 600 and no more.Then I went over my credit limit so I called them as I did not want an "over credit limit fee". They did another HP and PC'd me to a Quicksilver with a very nice cl. In the mean time I had obtained another major  Card with a 5 digit plus limit and was off and running. My cap one has only improved a thousand dollars in the last several years. I nicknamed it my "pud card".

A pud card is a credit card with a low limit when you know you have the responsibility and where withall to not get in over your head. All of my other cc's are leaving it behind with auto credit increases. Good luck

[HeavenOhio]

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@bettercreditguy1 wrote:

I have a Capitol One Credit Card and called in and asked for a cli after an auto initiated request was denied. The representative responded, " Use your card more at higher levels."  When I responded that I did not like my Cap One Card reporting at or above 50 percent, I did not get any additional responses and I did not get an additional cli. My Cap One card has the lowest limit of any card I have in my possession. 

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Capital One likes spending. You can put a lot of money through the card without having high utilization. If you're worried about your balance mid-cycle, pay it down. And pay it down to whatever you'd like before the statement hits. The last time I got a CLI, I think my spending was at about 40% of the limit over a period of a few months, although I was reporting between $0 and 15%. At the time I requested the CLI, I think my current balance was at about 4% of the limit.

My limit is now too high to hit 40% on any kind of regular basis, so it'll be interesting to see what happens the next time I request a CLI. When the time comes, I'll move some spending over from some other cards in order to increase my activity.

Card companies can't charge you an over-the-limit fee unless you agree to one. Many don't bother with an over-the-limit fee at all.

[bettercreditguy1]

I agree and you don't encounter over the limit fees unless you transgress. This was an emergency situation needing immediate attention, (I had cash reserves).  My fully paid med collections dropped my score for a bit and gave cc issuers the heaper jeepers. The next large break for me happened when we purchased a new car that was financed at my wife's credit union. This event created my membership.  Simultaneously by applying for  their Visa Card  it dropped our auto interest rate 1/2%,  Instantaneous approval $12k. I graciously thanked them and continue to grow my relationship. A couple of years later  we now have a new home loan and my limit is over $20k. in one cli request.  Our Credit Union rocks!  Hope your journey continues well.

[Aprile421]

I had low scores back when I applied for capital one. I want to say 600 or lower ouch! I was still in my Chapter 13 when I got them. The comment someone said about if you got the card when scores were lower and the card capping out at about 3k is not true. 

I got a platinum at $300 limit and a quicksilver one at $300 when I started with Capital One. On my quicksilver one after 3 months they boosted it to $2500 and my platinum to $700.  Two years later my Quicksilver went to $5500 and my Platinum went to $3250 by hitting the love button. 4 years later and my bankruptcy is officially off my credit and I still have those 2 cards though they upgraded both to no fee World Master cards. My Quicksilver is at $23500 and my Platinum which is now a Quicksilver too is $17500. I also now have a $25000 regular Quicksilver with them. I keep saying I am going to combine limits on my 2 older cards but I just never have.

I would take the $500 increase and know that they will grow in time if you take care of them.  I have heard lately that they are tightening up their belt and not handing out CLI like they were. I have enough credit with them so I have not tried recently.