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Member
Posts: 23
Registered: ‎12-09-2016
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Spark Business Cash too low, won't budge on intial increase

Hi all - long time reader but first post Smiley Happy

 

Have an unexpected credit situation - background: New business in 2012, at that time was instantly approved for a Chase Ink at 20k. As most of our business charges are smaller chunks (2k, 4k, 8k) and Chase was always going to be a HP, this wasn't a problem and we've stuck with that since then.

 

Credit is 805-815 for the past 8 or so years, same as wife who is the AU and the MAH for our personal cards (Amex OBC at 50k, Discover at 45k, Citi Double cash at 10k.)

 

This year charges/demand started to jump a bit and also needed to expand the business LOC's beyond just the Ink, so just applied for and got approved for Spark 2% - however with a measly 2k CL.  Spoke to executive services who were very nice but would not  budge as the account was one day old lol. Said to charge and pay as they come in (thanks lol) but there was no way to prepay or charge OTL and pay it down immediately.

 

Have a $5,600 invoice waiting to be paid now and was planning to use the Spark (also for the $500 with $4500 spend, although I could probably get there with regular activity otherwise just more of a PITA) and there is no way to do it...

 

Any thoughts or ideas - suprised ES won't budge but I suspect it's the limited business lines, although its 5 years of paying in full on time with over 800 scores...oh well! Can't think of any way to do this without splitting payments and I won't ask most of our clients or vendors to do this.

 

Thanks all...

Super Contributor
Posts: 5,968
Registered: ‎02-24-2015
0

Re: Spark Business Cash too low, won't budge on intial increase

[ Edited ]

Jenn10011 wrote:

Hi all - long time reader but first post Smiley Happy

 

Have an unexpected credit situation - background: New business in 2012, at that time was instantly approved for a Chase Ink at 20k. As most of our business charges are smaller chunks (2k, 4k, 8k) and Chase was always going to be a HP, this wasn't a problem and we've stuck with that since then.

 

Credit is 805-815 for the past 8 or so years, same as wife who is the AU and the MAH for our personal cards (Amex OBC at 50k, Discover at 45k, Citi Double cash at 10k.)

 

This year charges/demand started to jump a bit and also needed to expand the business LOC's beyond just the Ink, so just applied for and got approved for Spark 2% - however with a measly 2k CL.  Spoke to executive services who were very nice but would not  budge as the account was one day old lol. Said to charge and pay as they come in (thanks lol) but there was no way to prepay or charge OTL and pay it down immediately.

 

Have a $5,600 invoice waiting to be paid now and was planning to use the Spark (also for the $500 with $4500 spend, although I could probably get there with regular activity otherwise just more of a PITA) and there is no way to do it...

 

Any thoughts or ideas - suprised ES won't budge but I suspect it's the limited business lines, although its 5 years of paying in full on time with over 800 scores...oh well! Can't think of any way to do this without splitting payments and I won't ask most of our clients or vendors to do this.

 

Thanks all...


It's shortsighted of them but it is what it is. They will give you CLI's as you go along.

 

There's always a way to pay them, just push the payments from your bank account, rather than pulling the payments through their site.

 

If a charge card would be of use to you, you could always get an Amex business charge card; they're easy to get.

 

You also might want to look at Amex's Simply Cash Business card.

 

 


FICO8 EQ 767 TU 803 EX 773 FICO5 EQ 722 Total revolving 419500
Member
Posts: 23
Registered: ‎12-09-2016
0

Re: Spark Business Cash too low, won't budge on intial increase

True, seems like I just have to bite the bullet and play the charge/pay/charge/pay game for 6 months, and anything over 2k ish will just have to go on the Ink for now.

 

As far as pushing payments - will they actually accept any amount and if so will that affect charging power - or will it just result in an account balance with the same CL?  From what I'm reading this is more common with Amex etc, but not so much with Capital one or Citi...

 

We got this mainly for the 2%, as we have a good amount of spend not in the 5% Ink categories - and in our industry Amex is often not taken sadly.  I didn't see much of a benefit for us as the Amex CB %'s were nearly identical to Ink and the Mastercard never gives us a problem. I

 

I think If we can get up to at least 10k within 6-12 months we should be able to work with the Spark, but it does seem ridiculous to be THAT strict (when she said "we're a conservative lender I was cracking up. Smiley Happy I get it, but if you can't actually use the card for what you need, what's the point?

 

For the web based increase request - are you stuck with whatever amount they offer you to accept or decline? I'm guessing after 6 months it makes more sense to call and have ES manually increase.

Established Contributor
Posts: 586
Registered: ‎09-19-2015
0

Re: Spark Business Cash too low, won't budge on intial increase

I was able to increase mine last year from the initial 2K SL to 3K after three months. After that I waited 6 months and got the limit increased to 6K. It just sucks because they report to personal and it requires me to make lots of payments throughout the month to avoid having a high utilization hit when the statement cuts. My other business cards I just pay after my statement cuts and don't put much thought into it.

Scores 01/04/2017: EQ 719, TU 750, EX 716
Goal scores: 740 across the board
Member
Posts: 23
Registered: ‎12-09-2016
0

Re: Spark Business Cash too low, won't budge on intial increase

Ahh, good to know. It just doesn't make too much sense - conservative is one thing, ridiculous limiting is another...

 

I am hoping to at least double then double again but I guess it's whatever they decide to give me. I would be ok with 6k but 2 is ridiculous. I'm already up to 1500 so should hit the 4500 mark somewhat easily though.

 

Did you call in or do the online request?

Senior Contributor
Posts: 7,735
Registered: ‎01-05-2013
0

Re: Spark Business Cash too low, won't budge on intial increase

Welcome to the forums, and congrats on your approval!

 

Like the others have said, you will just have to be a littl patient.  With your already established history, you should be able to get the SL bumped up to an acceptable level sometime in 2017.

Valued Contributor
Posts: 1,463
Registered: ‎10-07-2013
0

Re: Spark Business Cash too low, won't budge on intial increase


Jenn10011 wrote:

 

This year charges/demand started to jump a bit and also needed to expand the business LOC's beyond just the Ink, so just applied for and got approved for Spark 2% - however with a measly 2k CL.  Spoke to executive services who were very nice but would not  budge as the account was one day old lol. Said to charge and pay as they come in (thanks lol) but there was no way to prepay or charge OTL and pay it down immediately.

 

Have a $5,600 invoice waiting to be paid now and was planning to use the Spark (also for the $500 with $4500 spend, although I could probably get there with regular activity otherwise just more of a PITA) and there is no way to do it...

 


I had a really low $500 limit and they wouldn't budge, so I sent Capital One an overpayment to make it easier to meet the minimum spend.

 

While I was still constrained to $500 per purchase, because the over-payment had cleared, I could make multiple $500 purchases in a row. Smiley Happy 

I was going to garden... Honest!
Valued Contributor
Posts: 1,463
Registered: ‎10-07-2013
0

Re: Spark Business Cash too low, won't budge on intial increase


Jenn10011 wrote:

Ahh, good to know. It just doesn't make too much sense - conservative is one thing, ridiculous limiting is another...

 

I am hoping to at least double then double again but I guess it's whatever they decide to give me. I would be ok with 6k but 2 is ridiculous. I'm already up to 1500 so should hit the 4500 mark somewhat easily though.

 

Did you call in or do the online request?


I'd use the online request. Easy, no muss, no fuss.

 

Once I ran the $4500 through the $500 limit, Capital One gave me a credit line increase to $1500. I have another business credit card with Capital One that I've been meaning to consolidate the credit line.

I was going to garden... Honest!
Established Contributor
Posts: 586
Registered: ‎09-19-2015
0

Re: Spark Business Cash too low, won't budge on intial increase

 


Jenn10011 wrote:

Ahh, good to know. It just doesn't make too much sense - conservative is one thing, ridiculous limiting is another...

 

I am hoping to at least double then double again but I guess it's whatever they decide to give me. I would be ok with 6k but 2 is ridiculous. I'm already up to 1500 so should hit the 4500 mark somewhat easily though.

 

Did you call in or do the online request?


I think 6K is ridiculous for a business card, which is why it gets used much less than my other business cards that have way higher limits. I would just spend as much as you can on the card and try the CLI after a few statements post. After the initial increase use the online CLI request to try for another increase. 

 

The nice thing is that they will give you the denial reasons if they don't feel like you qualify for the increase.

Scores 01/04/2017: EQ 719, TU 750, EX 716
Goal scores: 740 across the board
Super Contributor
Posts: 5,968
Registered: ‎02-24-2015
0

Re: Spark Business Cash too low, won't budge on intial increase


Jenn10011 wrote:

Hi all - long time reader but first post Smiley Happy

 

Have an unexpected credit situation - background: New business in 2012, at that time was instantly approved for a Chase Ink at 20k. As most of our business charges are smaller chunks (2k, 4k, 8k) and Chase was always going to be a HP, this wasn't a problem and we've stuck with that since then.

 

Credit is 805-815 for the past 8 or so years, same as wife who is the AU and the MAH for our personal cards (Amex OBC at 50k, Discover at 45k, Citi Double cash at 10k.)

 

This year charges/demand started to jump a bit and also needed to expand the business LOC's beyond just the Ink, so just applied for and got approved for Spark 2% - however with a measly 2k CL.  Spoke to executive services who were very nice but would not  budge as the account was one day old lol. Said to charge and pay as they come in (thanks lol) but there was no way to prepay or charge OTL and pay it down immediately.

 

Have a $5,600 invoice waiting to be paid now and was planning to use the Spark (also for the $500 with $4500 spend, although I could probably get there with regular activity otherwise just more of a PITA) and there is no way to do it...

 

Any thoughts or ideas - suprised ES won't budge but I suspect it's the limited business lines, although its 5 years of paying in full on time with over 800 scores...oh well! Can't think of any way to do this without splitting payments and I won't ask most of our clients or vendors to do this.

 

Thanks all...


BTW you might not believe this but the best way to get in touch these days with Capital One's top-tier customer service people is through their Facebook page. Their "executive office" used to be reachable by phone and email, but both have been phased out. The Facebook pathway is still open, though.


FICO8 EQ 767 TU 803 EX 773 FICO5 EQ 722 Total revolving 419500

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