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Ouuuccchhhhh. 40 point dings after last car payment.

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Regular Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.

Disco has given my daughters a CLI 3 or 4 times in the last 6 months, and it doesn't hurt to hit the button.  It is a SP.

 

CapOne may give you an auto if you don't go ahead and ask.  I had a high UTI on CapOne last Oct, paid it down with 2 payments in Nov, and they gave me a $3k auto CLI right after the 2nd payment was made.  6 months later, they gave me another $3k after a manual CLI even though I haven't carried a balance since last Nov (PIF each month since).  They love usage and payments, and their manual CLI button is a SP.  I'm not sure if they even consider your FICO score at the time a CLI is requested, but yours is around the same as mine was at the time of CLI's.

 

Synch may be close to being maxed with CL already, so you may not have any luck there.

Message 11 of 23
Valued Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.

40 points should be fairly easy to recover now that you have an extra $1,700 a month to put towards your balances.

Message 12 of 23
New Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.


@Janus wrote:

40 points should be fairly easy to recover now that you have an extra $1,700 a month to put towards your balances.


It's more than an extra $1,700 -- income has also started to pick up. That leads me to another question:

Would I eek out more points by crossing thresholds over a period of time than I would if I were to make lump sum payments to get balances down either all at once or a 1 - 2 month period?

FICO 08 Starting Scores (3/7/15) EQ: 694 TU: 702 EX: 659
4/24/2015: EQ: 745 TU: 735 EX: 755
8/7/2015 EQ: 767 TU 765 EX: 778
Message 13 of 23
New Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.

Ok, Discover Luv button gave me $1,500 instantly.

Cap one gave 2-3 day message & to check online doc center. Guessing that might be a no-go or they'll want a HP?

FICO 08 Starting Scores (3/7/15) EQ: 694 TU: 702 EX: 659
4/24/2015: EQ: 745 TU: 735 EX: 755
8/7/2015 EQ: 767 TU 765 EX: 778
Message 14 of 23
Super Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.


@mc90403 wrote:

@Janus wrote:

40 points should be fairly easy to recover now that you have an extra $1,700 a month to put towards your balances.


It's more than an extra $1,700 -- income has also started to pick up. That leads me to another question:

Would I eek out more points by crossing thresholds over a period of time than I would if I were to make lump sum payments to get balances down either all at once or a 1 - 2 month period?


Nope. Pay as much as you can as fast as you can.


Total revolving limits 719k (592500 reporting) FICO 8 scores: EQ 735 TU 782 EX 746
Message 15 of 23
Regular Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.


@mc90403 wrote:

Ok, Discover Luv button gave me $1,500 instantly.

Cap one gave 2-3 day message & to check online doc center. Guessing that might be a no-go or they'll want a HP?


Good news on Disco!

 

CapOne sounds like a "no".  Keep an eye on that denial letter though.  If it doesn't specifically state the denial was due to getting a CLI within the past 6 months, try hitting the luv button again after making your sizable payments.  Maybe make more than one payment in a month... it tends to wake the giant it seems.

Message 16 of 23
New Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.


@Duke_Nukem wrote:

@mc90403 wrote:

Ok, Discover Luv button gave me $1,500 instantly.

Cap one gave 2-3 day message & to check online doc center. Guessing that might be a no-go or they'll want a HP?


Good news on Disco!

 

CapOne sounds like a "no".  Keep an eye on that denial letter though.  If it doesn't specifically state the denial was due to getting a CLI within the past 6 months, try hitting the luv button again after making your sizable payments.  Maybe make more than one payment in a month... it tends to wake the giant it seems.


Cap One said no.

"Your financial obligations reported to us by the credit reporting agency are too high"

Not even a measly thousand bucks or so.

Next month, I will have them below 48%, Discover below 65%, and Aggregate Utilization near 26%. After that, my cap one balance will be about 6K, which I intend to get to zero in less than 3 months before taking Discover much further down. Higher interest anyway, and now I'm PO'd. After it's zero, I'll use the card and PIF each month. It will be harder to hit them both at once & cross threshold points equally, since the Disco balance is much higher.

FICO 08 Starting Scores (3/7/15) EQ: 694 TU: 702 EX: 659
4/24/2015: EQ: 745 TU: 735 EX: 755
8/7/2015 EQ: 767 TU 765 EX: 778
Message 17 of 23
Super Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.


@mc90403 wrote:


Cap One said no.

"Your financial obligations reported to us by the credit reporting agency are too high"

Not even a measly thousand bucks or so.

 


As I'm sure you know, it's looking at percentage moreso than dollars.  There are plenty of people with 5-figure reported balances that are able to acquire CLIs simply because their limits are high so their utilization percentages are relatively low.  I know it can seem silly sometimes that dollars aren't considered and just percentages are, but that's how the system works.

Message 18 of 23
Regular Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.

There are people that don't like CapOne's way of handling things, especially CLI's.  But to me, it is the most logical way to hand them out.  If I were in the CC business, I would prefer to use CapOne's method of handing out CLI's over the others (AMEX for example hands out 3x CLI after 60 days in most cases).  It may take a month or two for CapOne to give you a bump, but I'm betting they will wake up after some large payments are made and your balance starts dropping.  You may not need that CLI as much by that time, but any little bit helps.

 

Glad to see you have a plan and focused on achieving them!  Good luck!

Message 19 of 23
Super Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.

Agreed that Capital One handles CLIs the "right" way relative to many other lenders.  It's the softies like the previously mentioned Amex that give out huge CLIs when someone uses 0%-1% of their limit that makes the more conservative lenders seem like sticklers when in fact they're acting responsibly and doing the right thing.

Message 20 of 23
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