Cap 1 giving me the run around help!

[Anonymous]

So I have had a cap 1 card that started off as a platinum and recently was changed to a no AF quicksilver. The problem is that I only have a $1500 crdit limit after every increase denied. Called EO and after 2 months they wont raise my credit limit and as a "coursesy (LOL!) reduced my APR 2% less from 24.99%

I have much better cards with higher limits but just dont know what I should do with this card. If I call in and tell them I will close it if they dont look into it again will I get any further? Just astounded with the issues they are giving me.....High interest Low Limit no option to change likely.

[jsucool76]

I'm working on a CLI right now on my cap1. I've had it over 2 years and all I've gotten was my $500 credit steps increase, and every time I try to do a CLI online I get a document saying "your credit score isn't high enough" but they're pulling old reports dated a few months ago. 

I sent them a message on facebook and they told me "they're looking into it" and will call me in a few days. 

[Anonymous]

Does the card serve any particular purpose you cant live without? You stated you have better cards with higher limits so unless theres something about this particular card you need I would close it. I dont have an issue closing cards I view as useless but thats strictly my opinion so take it with a grain of salt. Telling them your going to close it likely wont get you any further since they have thousands of other people willing to go through the run around Either close it or throw it in the sock drawer unless your content with things as they are or willing to make more EO requests in the future

[Anonymous]

I vote just throwing it in your SD since it has no AF if it has any value to you from an AAoA perspective. Unless your util is really bad right now, closing a $1500 TL probably isn't a big deal.

Curious though. Are you carrying a balance on that card?

[Anonymous]

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@Anonymous wrote:

I vote just throwing it in your SD since it has no AF if it has any value to you from an AAoA perspective. Unless your util is really bad right now, closing a $1500 TL probably isn't a big deal.

Curious though. Are you carrying a balance on that card?

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Would never carry a balance with that interest rate! AAoA since I am 19 it is my first card I got exactly when I turned 18 and will be 2 years old next month. Maybe just not use it and SD is is best? Util is 15% on all accounts

[taxi818]

That is a dangerous game if you plan on keeping the card. They may just close it like so many others that have tried that. The last guy said that to a rep. and asked for a supervisor .

By the time the supervisor go on phone and said can i help you. he told him he wanted cli. Supervisor then said. i can't give cli on a closed account. guy lost it. ooh well. he gave him what he asked for. They don't work like that. especially cap 1. i would try face book.as that seem to easiest. but i would never threaten to close account as it is their card and they are the lender. people tend to get it in reverse. they are making money from you. for each swipe you do. but thats it . maybe a little interest here and there. but no way. can you say i will close unless you do this. they may just say good riddance. even cap 1 has some standards. contrary to the belief of many on this forum. i would venture to say that even the majority here have had a cap 1 at one time or another. because they have great starter cards.

[longtimelurker]

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@Anonymous wrote:

Does the card serve any particular purpose you cant live without? You stated you have better cards with higher limits so unless theres something about this particular card you need I would close it. I dont have an issue closing cards I view as useless but thats strictly my opinion so take it with a grain of salt. Telling them your going to close it likely wont get you any further since they have thousands of other people willing to go through the run around Either close it or throw it in the sock drawer unless your content with things as they are or willing to make more EO requests in the future

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Very much in this camp!   IMO, too many people get worked up about trying to get all their cards with a high CL (or all Sig/WMC/WEMC) etc.    If a card isn't meeting your needs, SD if you need the AAoA (or CL) and otherwise close.   From reading here, it's clear in particular with Capital One, that if you have the "wrong" type of card isn't going to be easy to change, and even if they gave you a $3K CLI, would things really change (if you have much better cards)?  Is it worth your time at all!

I would suggest people evaluate what they actually need on each card.   So I have a Sallie Mae with a $5K limit, less than 1/2 of my next lowest and 1/10 of my highest.   But since the max I would need on that card to get rewards is $1,250, I'm certainly not wasting time trying to get a CLI on it.   And it sounds like the Cap One card actually has no value to you.

[FinStar]

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@longtimelurker wrote:

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@Anonymous wrote:

Does the card serve any particular purpose you cant live without? You stated you have better cards with higher limits so unless theres something about this particular card you need I would close it. I dont have an issue closing cards I view as useless but thats strictly my opinion so take it with a grain of salt. Telling them your going to close it likely wont get you any further since they have thousands of other people willing to go through the run around Either close it or throw it in the sock drawer unless your content with things as they are or willing to make more EO requests in the future

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Very much in this camp!   IMO, too many people get worked up about trying to get all their cards with a high CL (or all Sig/WMC/WEMC) etc.    If a card isn't meeting your needs, SD if you need the AAoA (or CL) and otherwise close.   From reading here, it's clear in particular with Capital One, that if you have the "wrong" type of card isn't going to be easy to change, and even if they gave you a $3K CLI, would things really change (if you have much better cards)?  Is it worth your time at all!

I would suggest people evaluate what they actually need on each card.   So I have a Sallie Mae with a $5K limit, less than 1/2 of my next lowest and 1/10 of my highest.   But since the max I would need on that card to get rewards is $1,250, I'm certainly not wasting time trying to get a CLI on it.   And it sounds like the Cap One card actually has no value to you.

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Exactly.  Well said longtimelurker!

[Anonymous]

Totally agree but if the limit was higher and interest was reasonable it would really be a primary card except for category items I purchase "Sallie Mae, Dividend...etc) I only carry a balance on a large purchase when the interest is intro 0% or very low (11.24% Dividend)

Is credit steps that i orignially applied for when establishing credit restricting changes? Ran this by EO today and they will speak to the woman that helped me and let her know that 2% decrease from 24.9% interest and still no CLI is insulting when I have been a good customer.

[go_FICO_self]

if we can't have the vanity of high CLs (with SPs) then what good are these boards?

Are you seriously telling us, longtimelurker, that all your credit limits have been determined by the exact value you'll extract from them?