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Capital One CLI Decline Reason ...Odd...

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Andy77
Valued Contributor

Capital One CLI Decline Reason ...Odd...

I did a CLI increase request online and the denial reason was not one listed in the CLI FAQ Matrix....

 

The reason for denial was:

 

Your average monthly payment has been too low

 

I opened my account 12/2014 CL is 10k.

 

I have paid 7124.00 in payments to date and my current bal is 7200.00 I am paying 500.00 month and my minimum is 72.00

Beteen the time I opened the account and now I PIF once, owned 5k and paid off.

 

Has anyone had that denial reason ?

 

How much more should I be paying to get past this denial reason?

 

 

Message 1 of 7
6 REPLIES 6
barthooper
Frequent Contributor

Re: Capital One CLI Decline Reason ...Odd...

I got that reason in my last document and also thought it was strange. Prior to that last time I was always getting the credit line usage is too low message.

 

Maybe they're referring to current balance versus your recent monthly payments? I have a $1500 balance or so right now which is about twice the highest it has been so they likely expect larger monthly payments depending on the size of your balance. Just a thought.

 

Edit: Found the reason in the CLI FAQ:

You’re carrying a balance and not making large enough monthly payments to qualify for a credit line increase. Both the payment history and the amount of your payments help us to determine if your account qualifies for a credit line increase.

 

However the "how can I fix this?" column only refers to making substantially more than the minimum payment for 3 months, but obviously in our cases that isn't enough and it looks like it has to do with the current balance.

Quicksilver - 16k | Discover It - 34k | Citi DC - $21k | Chase Amazon - 8k | Chase Reserve - 19.5k | Chase Preferred - 5k | EX FICO (Discover CSC) 788
Message 2 of 7
Ghoshida
Valued Contributor

Re: Capital One CLI Decline Reason ...Odd...


@Andy77 wrote:

I did a CLI increase request online and the denial reason was not one listed in the CLI FAQ Matrix....

 

The reason for denial was:

 

Your average monthly payment has been too low

 

I opened my account 12/2014 CL is 10k.

 

I have paid 7124.00 in payments to date and my current bal is 7200.00 I am paying 500.00 month and my minimum is 72.00

Beteen the time I opened the account and now I PIF once, owned 5k and paid off.

 

Has anyone had that denial reason ?

 

How much more should I be paying to get past this denial reason?

 

 


Never, ever, ever bother with the denial reasons from Cap One CLI.

 

 

 

The moment your card is up for an increase (6 months since last one), hit the CLI button once, wait for the denial message, then go contact the Executive Office via email / Facebook / Twitter what-have-you. 

 

Hitting the CLI button is the step to answer the EO's question, "Did you try our regular process to get a CLI?" and NOT to get an actual CLI.

Message 3 of 7
Andy77
Valued Contributor

Re: Capital One CLI Decline Reason ...Odd...

 

 

I contacted the EO and my account was available for a manual review via a SP, so I am going to do that and see what happens

 

 

Message 4 of 7
Ghoshida
Valued Contributor

Re: Capital One CLI Decline Reason ...Odd...


@Andy77 wrote:

 

 

I contacted the EO and my account was available for a manual review via a SP, so I am going to do that and see what happens

 

 


Good choice of action Smiley Happy Best of luck.

Message 5 of 7
Anonymous
Not applicable

Re: Capital One CLI Decline Reason ...Odd...

If it were me, and I had that balance on my Capital One card, I would try to pay at least 10% of the balance each month. While I do agree with what another poster said, don't pay attention to CLI denial reason from them, take in to consideration the entire picture. What is your balance to credit limit? If you are over a certain percentage, then I would have waited to requst a CLI.

 

Goo choice calling the EO, they are very helpful. Let us know what they say.

Message 6 of 7
Anonymous
Not applicable

Re: Capital One CLI Decline Reason ...Odd...


@Andy77 wrote:

 

 

I contacted the EO and my account was available for a manual review via a SP, so I am going to do that and see what happens

 

 


Andy -- best wishes with the EO review!  I hope it comes out well in your favor.  Please update this thread with the results because I am getting the same decline message on my Venture I opened in February.  My balance is $1954 of the 10k Balance.  

Message 7 of 7
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