12-04-2013 09:36 AM
I took the time to email the Capital One Executive Office about my $500 Capital One credit card, and that I wanted to get a CLI, and nobody would even authorize it (hard pull or not)! Well they took my information, and submitted it for review. Came back today with a CLI of $250 to $750.
What a joke. $250 CLI. DCU just approved me for a $3,000 card, and U.S. Bank just gave me a CLI to $1,000 from $300.
Capital One is a joke. I plan on not using this card for anything and just letting it sit there. Waste of my time entirely.
Instead of emailing the EO call them.. maybe you will have better luck when you plead your case when actually talking with a person or underwriter
12-04-2013 12:46 PM
About 11 months.
Interesting....I was at $500 as well but after my sixth statement cut they gave me an automatic $1k CLI. I thought maybe Cap1 was loosening up but maybe I was wrong.
12-04-2013 01:36 PM
hardworkpaysoff wrote: I took the time to email the Capital One Executive Office about my $500 Capital One credit card, and that I wanted to get a CLI, and nobody would even authorize it (hard pull or not)! Well they took my information, and submitted it for review. Came back today with a CLI of $250 to $750. What a joke. $250 CLI. DCU just approved me for a $3,000 card, and U.S. Bank just gave me a CLI to $1,000 from $300. Capital One is a joke. I plan on not using this card for anything and just letting it sit there. Waste of my time entirely.
Let me make sure I have this right; You had 800 dollars in credit, 500 of which was on a Capital One sub-prime product. You now have a new 3000 dollar card, and another 700 in credit added to an existing. You just jumped from 500 in credit to 4500 in credit, and do not have any history whatsoever of how you will handle the larger limit.
A Chase recon rep once told me "You have a lot of new credit; we really need to see how you will handle this before we are willing to increase our exposure. Give it six months and call me back." This was an excellent piece of advice, and I did eventually get the increase after I proved that I could handle my new limits.
Card companies get nervous when you have lots of new credit, because statistically, lots of people have problems paying back the larger amounts. You now have the ability to charge two month's pay on your cards. That's a lot. Honestly, the fact you got a 50% increase is surprising.
Add to all of that the fact that you have a low tier student card. They are very conservative with the limits on those cards. I had a similar issue with my Cap1 platinum rebuilder, as the product had a hard limit above which they would not raise.
My advice; Use your new limits responsibly for six months, and then contact the EO again. Ask for a Product Change to a higher tier product. You'll find the difference between the CS teams, and your customer experience to be night and day between the two divisions. As you can see, Cap1 has been the most generous lender to me since I got out of their rebuilder line. I like the card, the benefits, the limit, and the lack of annual fees. Most of all, I like that I was able to move a rebuilder up to a prime card. There's no reason why you can't do the same thing with a little patience.
12-04-2013 01:45 PM
I can't repeat this enough; Capital One is like two different companies.
The sub-prime division will take you when no one else will, without all of the monthly fees and ripoffs. The limits will be low, and while they might move up incrementally, will never be high. The default response to any CLI request will be NO. Still, when rebuilding it is way better than your other options.
The prime division offers generous limits, unlimited cash back, and cards with no annual or forex fees. The CS team is helpful and responsive, and the cards will grow with your credit and income.
If you are a subprime customer who has improved your credit, get the best of both. Optimize your report, and then ask the EO to product change you to a higher tier card.
If they won't do it, wait six months and ask again. It works, and doesn't cost a hard pull.
12-04-2013 01:48 PM
This thread is 6 months old
Lol... then we're right on time with the advice to try again after six months, right? Heh heh.
12-05-2013 10:23 AM
can some one email me the Capital One Executive.
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