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Capital One CLI denied

Senior Contributor

Re: Capital One CLI denied


Calbuc wrote:

I only have one credit card, a low limit Capital One card, I acquired two years ago when I started to actually care about my credit. Since I've had the card I have never missed a payment and balance stays under 10%. I recently inquired about an increase to my credit limit and was denied. I received a letter stating, "This Capital One account is not currently eligible for a credit line increase upon request." When I call for answers why I was denied, no one can offer me any further explanation. Should I apply for a new card, with a different company? It seems weird that a card I acquired with a 550 credit score can increase my limit now. Can anyone offer any insight? Thank you.


Unfortunately this is a rebuilder card and will likely never get a CLI. I just closed my 2nd Cap one rebuilder this week because with the CLs I now have, it just seemed like a joke that Cap One refused to acknowledge the improvement in my credit over the last year by either PC'ing to a better/rewards card or even giving me a CLI.

 

The good thing is that it does give you a chance to establish credit so you can get better cards. You might want to look at apping for another CC now. Do you have any baddies on your CR? You might want to talk with local CUs and see if someone will give you a CC. They are usually pretty good about helping people establish or rebuild their credit.

 

With your score, you might be able to get an Amex Zync, which would establish you as an Amex member for future backdating, and also get your foot in the door for Amex revolvers when your score is higher.

 

 

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 11 of 16
Established Member

Re: Capital One CLI denied

I have two satisfied judgments, one that will fall off at the end of the year and the other next year. And I was late on my student loan payments 6 times from 2005-2008. I have been current on everything for the past 4 years trying to set myself to buy a home soon. It looks like I will have to play the waiting game and just wait for some things to fall off and not affect my credit as much before applying for a better card.


Starting Score: 651
Current Score: 668
Goal Score: 701


Take the FICO Fitness Challenge
Message 12 of 16
Moderator Emeritus

Re: Capital One CLI denied

Cap1 cards growth is like trying to grow Tulips in the Sahara.   It just don't happen.  Use the starter card to jump start your way to better cards.  Have you tried a Walmart card?  A lot of people have had success with them and they seem to grow.   Good Luck!

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 13 of 16
Valued Contributor

Re: Capital One CLI denied

You need to work two avenues when rebuilding credit. Remove the baddies. Add good credit.

 

It seems to me you've done what you can with having the baddies removed but you need to do a much better job of adding good credit. Your scores will really start to climb if you added 2 more credit cards. You just need to be selective in which ones you apply for.

 

This is my suggestion:

 

Apply for a Walmart card. With your scores you should be approved. When you sign up for electronic bill pay you will get a free TU FICO score for free. These cards are backed by GE and they are very generous with credit line increases so don't worry about starting out with a small CL.

 

Apply for a Bank of America SECURED credit card. You will have to put a $500 deposit down which then becomes your credit line. After you demonstrate 1 year of good credit behavior BoA will unsecure your card and send you your deposit back. You now will have a PRIME bank credit card that will grow with you for life. After a few years this card could grow to have a $5K to $10K credit line if you take care of it. BoA is terrible with communicating that you are approved for this card. You will get a 5 to 10 day message. Just watch your checking account, if you are approved they will withdraw your deposit 3 to 5 days after you applied. It actually takes 3 to 4 weeks to get this card in hand from the day of application. They are really slow in getting these cards out and I don't know why.

 

As soon as those jugments fall off I would recommend applying for an AMEX Zync. You might actually be approved for the Zync now, but it is to close of a call for me to recommend you apply for that right now.

 

Good luck!


Starting Score: EQ 653 6/21/12
Current Score: EQ 703 8/5/17 - EX 743 8/5/17 - TU 731 8/5/17
Message 14 of 16
Valued Member

Re: Capital One CLI denied

Same here I had Cap 1 $500 balance for the last 4 years no increase got another Cap 1 in 2011 got an increase in 90 days and never again

Cap 1 Venture 15k
BCU 10 k
Cap 1 4500
Cap 1 2600
Cap 1 2350
VS 3500
GAP 2500
Bloomies 1700
Spark 600
Message 15 of 16
Senior Contributor

Re: Capital One CLI denied

I'd open a few GE accounts... Any of them that will upgrade into all-purpose cards, like visa/mc, and grant you clis are good..
Walmart, Banana Republic, Old Navy...maybe even a Paypal Platinum Plus card...
GECRB cards are perfect for building credit/just using credit in general..
Best of luck :-)
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 16 of 16