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Regular Contributor
Posts: 129
Registered: ‎05-01-2010
0

Denied for CLI from Capital One

I asked for a CLI to cover dental work and the rep said I was denied. The denial letter stated the only reason is that they are not allowed to issued customer initiated CLIs at this time, only bank initiated CLIs. Then the next day I get another letter from CapOne stating that I have been preapproved for a $30K auto loan? Are they crazy?

Starting Score: 'All three mid 500s as of 1/1/16
EQ: 605 TU: 618 EX: 623 as of 5/8/16 via MyFico
Goal Score: 650

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Moderator Emeritus
Posts: 5,279
Registered: ‎03-18-2008
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Re: Denied for CLI from Capital One

Seems counterintuitive, doesn't it?  But I'd surmise that the reasoning is that an auto loan is secured by real property - the car.  They probably figure that if you were to default on the loan, they'd just take the car and then try to collect the remaining balance after the auction.

Regular Contributor
Posts: 117
Registered: ‎12-06-2009
0

Re: Denied for CLI from Capital One

You mean if I don't pay my crap1 cc bill they won't repo my month gum purchase? phew!

Frequent Contributor
Posts: 331
Registered: ‎09-26-2009
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Re: Denied for CLI from Capital One

Trying to get a CLI from CapOne is like pulling teeth (no pun intended), during the past holiday season they were in the giving mood, seems like every other post was about someone getting a CLI from them, but I guess they're back to their old way and no longer in the spirit of giving mood. I'm definitely going to drop them, paying an AF on a $500 no rewards card and is stingy when it comes to CLI's is no longer needed in my wallet. Capone has served it's purpose with me.. 


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Member
Posts: 8
Registered: ‎08-02-2009
0

Re: Denied for CLI from Capital One

Yeah I just closed my Crap1 card the other day. Had it for about 5 yrs and still had the same $300 dollar limit and AF. I kept it hoping that one day they would give me a CLI. After calling all the backdoor numbers and not getting anywhere this past month, I just let them go.....Good Luck!!

Airborne All the Way!!!!
New Visitor
Posts: 661
Registered: ‎07-17-2007
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Re: Denied for CLI from Capital One

While I don't think too highly of Cap1, you all should consider opening another non-AF card with them then combining. Then you'd ditch the AF but keep the history.

 

Just a thought.

Frequent Contributor
Posts: 331
Registered: ‎09-26-2009
0

Re: Denied for CLI from Capital One

I thought Cap 1 doesn't allow combining. Plus I don't think I would want another Cap 1 card, if I'm going to use an inq, it would be on a card that I've had my eyes on. I would hate to get another $500 limit card from them..LOL


AMEX Platinum NPSL | AMEX Zync NPSL | AMEX Delta Platinum $4000 | Travelocity Amex $4000 | CapOne No Hassle Rewards $2500 | BBRZ MC $800 | Local CU Visa $1000 | Kay $2000 | Citi Hilton HHonors Reserve $5000 | Chase Marriott Rewards $5000 | BankAmericard Travel Rewards Visa $7000 | Discover IT $1000
In the garden until 10/2014
New Visitor
Posts: 661
Registered: ‎07-17-2007
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Re: Denied for CLI from Capital One

 


Gibran wrote:

I thought Cap 1 doesn't allow combining. Plus I don't think I would want another Cap 1 card, if I'm going to use an inq, it would be on a card that I've had my eyes on. I would hate to get another $500 limit card from them..LOL


Cap1 doesn't do product change. So you can't upgrade your crappy card to a better one. They only allow you to open a new card and combine the two. Whether it's worth the inq to do so is up to you. You can however, call and ask if they'll waive the AF. If so keep the card and call back next year. If not, definitely consider kicking them to the curb.

Regular Contributor
Posts: 208
Registered: ‎04-17-2008
0

Re: Denied for CLI from Capital One

I've been a Cap One customer since April 2008, No Hassle Cash Rewards Visa. Excellent credit category but they started me out with $300 and bumped it up to $500 by Sept 2008. I've been there ever since.

 

Called Cap One last week to see about doing a product change and they told me my account is not eligible for the upgrade. The CSR acknowledged me as an excellent customer and said if I wanted the upgrade, to apply for a new card. I'll pass on that offer....if they're not increasing credit lines for excellent customers, that tells me I've got no chance at all of being approved for a new card...scores in the 740 range too.

Valued Contributor
Posts: 1,129
Registered: ‎01-20-2011
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Re: Denied for CLI from Capital One

I dont think they do combining anymmore...

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