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Interesting reply from Cap1 :)

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lg8302ch
Senior Contributor

Interesting reply from Cap1 :)

 I recently used a convenience check from Cap1 and requested a CLI with a 70% utilization.  The response I figured  would be a denial but found the reason for denial  quite interesting.  Any other reason would have made more sense to me...lol

 

Cap1.png

 

It would be interesting to know  what kind of reply I would have gotten with 99% utilization... ha ha...

But on the bright side the 70% util only gave am a ding of 9 points Smiley Happy .. so I do not need any CLI but of course will try again and see what response I will get next month.

 

Smiley Wink  

Message 1 of 14
13 REPLIES 13
Anonymous
Not applicable

Re: Interesting reply from Cap1 :)

My husband has had a Cap One card forever and he got the same message when he went for a CLI. Apparently, he used it to sporadically and he did so because of the comically low limit. We used it pretty heavily for three months and we able to triple the limit in 90 days when he requested a CLI again.

Message 2 of 14
Anonymous
Not applicable

Re: Interesting reply from Cap1 :)

I got the same also on an old card I never used for a few years.  So I got on chat and I was told if the card isn't used, why give it a CLI?  I didn't argue as it makes sense LOLSmiley Happy

Message 3 of 14
lg8302ch
Senior Contributor

Re: Interesting reply from Cap1 :)


@Anonymous wrote:

I got the same also on an old card I never used for a few years.  So I got on chat and I was told if the card isn't used, why give it a CLI?  I didn't argue as it makes sense LOLSmiley Happy


Mine is used for BTs for 60-70% of the CL and then paid down to zero - (rinse and repeat method as long as Cap1 is giving me the nice offers) - Cap1 is my best BT card with convenience check and wonderful offers.  Nobody  else is offering me 1% BT fee for  0% APR promos for 12-18 months.. Cap1 is unique and I cannot refrain from accepting these offers Smiley Embarassed Just finished one from last year and started a new one but with 70% of CL. The money goes into savings and I will keep it as emergency fund.

 

I read somewhere on their FAQ regarding explanations on CLIs and found the info if you have a BT you need to pay substantially more than minimum for at least 3 months before successful CLI can be granted ... so I will see what will happen in two months...lol

Since the ding was not bad I do not really need the CLI anymore but I would like to test if the 3 months after BT would work ... just curious now.  Due to the BT I am not using my QS for anything else so I do not know if that means  " low usage "...ha ha... for me it is the overall util that counts and that is now low usage with 70% ..lol

 

Message 4 of 14
lg8302ch
Senior Contributor

Re: Interesting reply from Cap1 :)


@Anonymous wrote:

My husband has had a Cap One card forever and he got the same message when he went for a CLI. Apparently, he used it to sporadically and he did so because of the comically low limit. We used it pretty heavily for three months and we able to triple the limit in 90 days when he requested a CLI again.


Thanks. That is similar what I read in the FAQ about CLIs and BTs... curious to test in two months Smiley Happy

Message 5 of 14
Anonymous
Not applicable

Re: Interesting reply from Cap1 :)

I got the same message at 30% Until, I just paid of the balance and I will try in 4 months from now. They did not give me 0% APR and I cannot carry balance for so long.

Message 6 of 14
lg8302ch
Senior Contributor

Re: Interesting reply from Cap1 :)


@Anonymous wrote:

I got the same message at 30% Until, I just paid of the balance and I will try in 4 months from now. They did not give me 0% APR and I cannot carry balance for so long.


Oh.. certainly do not carry a balance to please a lender. Smiley Wink  Avoid interest by all means if possible.  To clarify I did not  accept the BT offer for trying to get a CLI but when I accepted it tried to see if I could minimize the  impact on scores which in general is a terrible idea Smiley Tongue  - Solution is pay down and not CLI Smiley Embarassed

Message 7 of 14
DaveInAZ
Senior Contributor

Re: Interesting reply from Cap1 :)


@lg8302ch wrote:

 I recently used a convenience check from Cap1 and requested a CLI with a 70% utilization.  The response I figured  would be a denial but found the reason for denial  quite interesting.  Any other reason would have made more sense to me...lol

 

Cap1.png

 

It would be interesting to know  what kind of reply I would have gotten with 99% utilization... ha ha...

But on the bright side the 70% util only gave am a ding of 9 points Smiley Happy .. so I do not need any CLI but of course will try again and see what response I will get next month.

 

Smiley Wink  


Must be their current canned response for denying CLI, I got the exact same same response when I hit the luv button in April. Maybe with all those high SLs they've been handing out with Venture they're tightening down on CLIs on existing accounts? But for me they were right, I've never gone beyond 10% util, usually only 4-5%, I just requested a CLI as I was at the 6 month point on my QS opened in Oct. w/SL of $10k. Also I was doing a $5k BT on my new Barclays NFL card and was asking for CLIs so that BT wouldn't put me over 15% overall util. But yeah, that BT put my NFL card at 65% util and around 9 points is all I got dinged. I do wish Cap One would send some of those BT offers my way though.

Message 8 of 14
Anonymous
Not applicable

Re: Interesting reply from Cap1 :)


@lg8302ch wrote:

@Anonymous wrote:

I got the same also on an old card I never used for a few years.  So I got on chat and I was told if the card isn't used, why give it a CLI?  I didn't argue as it makes sense LOLSmiley Happy


Mine is used for BTs for 60-70% of the CL and then paid down to zero - (rinse and repeat method as long as Cap1 is giving me the nice offers) - Cap1 is my best BT card with convenience check and wonderful offers.  Nobody  else is offering me 1% BT fee for  0% APR promos for 12-18 months.. Cap1 is unique and I cannot refrain from accepting these offers Smiley Embarassed Just finished one from last year and started a new one but with 70% of CL. The money goes into savings and I will keep it as emergency fund.

 

I read somewhere on their FAQ regarding explanations on CLIs and found the info if you have a BT you need to pay substantially more than minimum for at least 3 months before successful CLI can be granted ... so I will see what will happen in two months...lol

Since the ding was not bad I do not really need the CLI anymore but I would like to test if the 3 months after BT would work ... just curious now.  Due to the BT I am not using my QS for anything else so I do not know if that means  " low usage "...ha ha... for me it is the overall util that counts and that is now low usage with 70% ..lol

 


Good info- Didn't know that- See blue.

Message 9 of 14
ecxpa
Valued Contributor

Re: Interesting reply from Cap1 :)

I say it again.....Cap 1 is Cap 1........they have their agenda and nobody's gonna change it.  Their underwriting seems to change from time to time but there is no logic to them.  Don't try to figure them out or determine what they want.   They love some folks and kick others in the teeth.   They are supreme marketeers and do have good products but once you are in with them doesn't mean the relationship will flourish........even though regular and high utilization helps...........sometimes

Message 10 of 14
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