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Capital One EO shot my CLI down...

Contributor

Capital One EO shot my CLI down...

so I closed the card. They didn't even blink an eye or ask how they could retain me. My initial limit was $500 and bumped to $750 in June. I requested an increase thru the luv button and got a denial for too many inquiries. I had three in the last six months, two of which were for my mortgage and one for an auto refinance. I explained to the EO rep that I got the Cap One denial on Monday and decided to apply for other cards and was instantly approved for prime cards with much higher limits (5k, 10k, 7.5k) so why didn't Capital One think I was worthy of a higher limit. He said that they were a conservative lender and there was nothing he could do. So I closed it.

 

I will say that the card served its purpose. My score was in the high 500's when I got the card last year. It was my only credit card at the time (outside of one store card). My score is now in the mid 600's (not perfect but I have never had a late pay or a delinquency on any revolving credit, just student loans and a few late payments on an auto loan). It is dissapointing that Capital One is like this.

17 REPLIES
Valued Contributor

Re: Capital One EO shot my CLI down...

Well like you said the card served its purpose and you now have better ones at your disposal.  Wouldn't get too broken up over it.

Senior Contributor

Re: Capital One EO shot my CLI down...

sorry to hear that about Cap1, at least you have prime cards now.


Established Contributor

Re: Capital One EO shot my CLI down...

Capital One pulls all three reports so if you applied three times they will shoot you down. Im surprised at how different people's experiences have been with them compared to mine. I started with the same 500 buck limit and in 6 statements I got bumped up to 2000 and an upgrade to a quicksilver platinum. So i guess it really depends on your file. Do you have any baddies?



TU 762
Income $300,000
Car lease 2015 Mazda 3 sTouring
Barclay/EX 755 ($214,000+ total CL) In my wallet (UTI >1%)
Contributor

Re: Capital One EO shot my CLI down...


Josh2942 wrote:

Capital One pulls all three reports so if you applied three times they will shoot you down. Im surprised at how different people's experiences have been with them compared to mine. I started with the same 500 buck limit and in 6 statements I got bumped up to 2000 and an upgrade to a quicksilver platinum. So i guess it really depends on your file. Do you have any baddies?


My baddies are all due to student loans but they are 3+ years or older. The other baddie is late car payment in Dec 2011 and Jan 2012. No collections/judgements/liens, etc. My overal util is around 15%.

My husband also has a Cap One and he was bumped from a $750 to $2250 with two open medical collections on his account. And my scores are higher. And his utilization was at 60% at the time. I don't get it.

Valued Contributor

Re: Capital One EO shot my CLI down...

Weird.  Completely opposite of my experience...

3-26-15: FICO EXP: 828 - EQU:820 - TRAN: 828 - AVG: 825 +275 points from JUN 2008 - MY CREDIT JOURNAL

Super Contributor

Re: Capital One EO shot my CLI down...


p- wrote:

Weird.  Completely opposite of my experience...


+1 and I have dealt with the EO twice both times great results 

Sorry OP

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Frequent Contributor

Re: Capital One EO shot my CLI down...

I had similar experience. My Cap1 is at 1k CL after two CLIs. No help from EO. No PC, No further CLI.

 

You should have kept it open like me though. I now use it for a free monthly FICO scores. All you have to do is request CLI online and they give you an instant denial (of course). And then they send you a letter or post online what your FICO score was at the time. Everything is done through SP.

 

So what if they actually do give you a CLI like 300 dollars once in a while? No worries. Request another CLI immediately afterwards and you will get an instant denial with a letter containing your FICO.

 

That's the only purpose Cap1 serves for me now. If they get pissed for too many CLI requests and decide to close it then so be it because I don't need it.

 

Note: the FICO scores at least for me were all EQ 04 classic but they are always a month behind.

[10%+] Internet, Cable, Cell phone
[5%] Gas, Grocery, Amazon, Airline tickets, Drug Stores, Dept. Stores, Target, MyHabit
[3%] Restaurants
[2%] Everything Else
Super Contributor

Re: Capital One EO shot my CLI down...

 

Moved to CC Apps

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Super Contributor

Re: Capital One EO shot my CLI down...

OP 

You do have 30 days with CAP1 to reopen should to want too 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?