Cap One EO Manual Review Time Frame ?

[skigirl916]

I agree that you need to use the card to see a CLI.

Why would a lender increase your limit if you're not showing that you need it?

[Andy77]

Use..yes...max out to "prove" that you should have a higher line...no...I had a penfed at 5k...charged 2k for 2 months and they increased to 20k

If you are credit worthy and pay on time, etc...why would they not want to give you more credit, if your income supports it, so you can use their product more and make them more money....

[CreditCuriosity]

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@Andy77 wrote:

Use..yes...max out to "prove" that you should have a higher line...no...I had a penfed at 5k...charged 2k for 2 months and they increased to 20k

If you are credit worthy and pay on time, etc...why would they not want to give you more credit, if your income supports it, so you can use their product more and make them more money....

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Less credit to provide to other people if you give out more credit to others that won't utilize it.. A bank can only lend on X Amt of money and have to have reserves if I am not mistaken and if you have say two cap 1's in your case one at 20k and a new one at 10k that is 30k of possible money tied up and if you only say use 500 a month on it, just thorwing out a number, doesn't make much sense to them as well, regardess of your credit.

Someone correct me if I am way off base

[Andy77]

That makes some sense, to a degree you are correct.  You could have an individual with income of 500k and because they put that on their application the computer system automatically will give them lets say 30k of credit based on their income and credit profile.   It is not the applicants fault they got so much credit, that is an algorithm in the banks computer.  The applicant would also probably not ask for a CLD because they are only going to charge 3k a month either, most people just don't do that.

The person might only charge 3k a month, but the bank knows they are good for the credit and have the ability to repay based on their income and their credit report and who knows ...maybe one day they will start charing more.  As long as their credit does not seriously change they won't get CLD'd either.  So lets pretend their CL is 30k

If the person asks for an increase to 40k because they made 300k more in salary, the bank should give it to them so the person has the abilty to make the bank more money by using the card up to its new higher limit, what if the person asked for the increase because they are going to put a down payment on something.

It would be foolish for the bank to not grant the increase.

That is how i see it.

[swoops0823]

My total process took about two weeks. However that's counting the time from when I sent an email to CEO to final decision. If you just count the time from when they called to contact me and I received a decision it was about a week. I also did the same thing and requested a CLI on a card I hadn't received. It was approved with no issues. I do have a good relationship with them though as i've got more than one of their credit cards, a savings acct, investment account and a checking. I still think you'll be fine though.

[Anonymous]

My experience with the EO was 6 days. Thats counting from the day I talked to them on the phone to put the request in. Mine was also reconning a denial for a card (that I got approved for through the EO). Good Luck and I hope you get the CLI. The EO is great (from what I experienced and read)