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For those with "stuck" Capital One accounts

Senior Contributor

Re: For those with "stuck" Capital One accounts

Good point from the OP here regarding "starter" cards/accounts with CO.  This story is quite common in this forum, but far less common than people starting "why can't I grow my CO card?" threads.  Those thread-starters can certainly learn something here.

 

If you start an account with CO on less than favorable terms (low credit score, low starter limit, etc) the account will be looked at under those less than favorable terms for the life of the account, regardless of if you significantly improve your credit profile/score.

 

I'd be curious to hear the maximum that anyone has been able to grow their $5OO SL card from CO, or even a $1000 SL card. 

 

Heck, my SL with them with a 619 score was $3000 upon approval, but in 2 years was only able to grow to $4000 since the acocunt started on less than favorable terms.  The only reason I got the $3000 SL IMO was because the only other CC they could see on my credit report at the time I applied had a CL of $10,000.  Had I not had that other account on there, I likely would have been handed a $500-$1000 SL.

Message 21 of 55
Frequent Contributor

Re: For those with "stuck" Capital One accounts

My problem with this is that you have to take a new inq and for me my oldest 2 cards are capital one cards and I do believe they are stuck because I only get 200-250 cli every 6 months with them, vs 10k increases on my other CC's.

 

I did go ahead and app for a QS to see if that will work like people have said, but I really just want to PC my old QS1 to a  no annual fee QS and then combine my new QS into my old one to keep my AAoA up since I am hoping to buy a home in 2 years from this summer it would help I believe.

Starting Scores 8/24/14 FICO TU:507 EQ:500
Scores as of 1/1/2016 FICO TU:633 EQ: 622
Scores as of 1/1/2017 FICO TU:759 EX:693 EQ:694
19 Inq on all reports
Goal Score 750 FICO across the board (FINALLY OVER 750 ON TU WOOT!)
Message 22 of 55
Frequent Contributor

Re: For those with "stuck" Capital One accounts

Congratulations on your Cap One Venture!!

 

CSP- BOA Travel Rewards- Barclays JetBlue MC- Barclays Apple Rewards- Cap One QS MC- Synchrony WalMart MC- BP Gas

AMEX Platinum Card- NPSL // AMEX Green Card- NPSL // Bank of America Travel Rewards // Chase Sapphire Preferred // AMEX Delta Skymile Rewards // Venture One // Barclays JetBlue MC // Synchrony Walmart MC // Barclays Apple Rewards // AMEX BCE // Blaze MC // BP Gas
Message 23 of 55
Moderator

Re: For those with "stuck" Capital One accounts


BrutalBodyShots wrote:

Good point from the OP here regarding "starter" cards/accounts with CO.  This story is quite common in this forum, but far less common than people starting "why can't I grow my CO card?" threads.  Those thread-starters can certainly learn something here.

 

If you start an account with CO on less than favorable terms (low credit score, low starter limit, etc) the account will be looked at under those less than favorable terms for the life of the account, regardless of if you significantly improve your credit profile/score.

 

I'd be curious to hear the maximum that anyone has been able to grow their $5OO SL card from CO, or even a $1000 SL card. 

 

Heck, my SL with them with a 619 score was $3000 upon approval, but in 2 years was only able to grow to $4000 since the acocunt started on less than favorable terms.  The only reason I got the $3000 SL IMO was because the only other CC they could see on my credit report at the time I applied had a CL of $10,000.  Had I not had that other account on there, I likely would have been handed a $500-$1000 SL.


My QS MasterCard started off as a HSBC/Orchard Bank 'Platinum' back in 2007... it will be 10 years old this summer.

 

The SL was $300, and the very first CLI was $20 (yep, that's 'twenty'... not missing a zero).  If you want the details you can look here, but the TL;DR version is that the credit line is now $4900 and the last couple of years they have been generous with CLIs after a very long dry spell. 

 

The PC from a QS1 to a QS also took a while... if anybody is interested that data point can be found here.

 

It's one of my three oldest accounts by a significant number of years (the other two are Lowe's and Belk) so in my case I'll likely hang on to it for the long haul.  There's no AF and it's simple to set up a recurring charge to keep it alive.

Message 24 of 55
Valued Contributor

Re: For those with "stuck" Capital One accounts

I've had a Cap1 No Hassle Miles MC since 2012, which was very similar to and actually preceded the Venture card product, until the NHM cards were for the large part PC'd or converted into other Cap1 cards like Venture or QS some years ago, making the NHM card product virtually extinct today.  When I was first approved for it, the APR was 9.9% V (now 10.40% V), so while the interest rate was nice, along with the 2% cashback on travel purchases, Cap1 had stuck me at an unmoveable SL of $1k for about 4+ years.  It was only in late 2016 that I was able to receive a $500 CLI to $1.5k -- something I hope to repeat again later this month or next month.  I don't see myself as ever closing the card tbh, b/c the 2% rewards feature combined with the relatively low APR together make it hard for me to match in terms of current or contemporary cc product offerings. 

** BEFCU Platinum Plus VISA @ 5.49% F, $4k ** Unify FCU Variable-Rate VISA Gold @ 5.99% V, $5k ** FNBO Amex @ 7.25% V, $20k ** PACU Premier Privileges Rewards MC @ 7.50% F, $20k ** Unify FCU Fixed-Rate VISA Platinum @ 8.99% F, $15k ** Barclay Ring @ 9.00% V, $1.9k ** BoA Cash Rewards WMC @ 9.99% F, $11.1k ** Citi DC WMC @ 10.24% V, $17.82k ** BoA Travel Rewards VS @ 10.24% V; $8.4k ** Cap1 No Hassle Miles Ultra Platinum MC @ 10.90% V, $3.5k ** Discover IT @ 10.99% V, $22.4k ** FNBO BucksBack VS @ 12.00% V, $20k ** BBR(x2) @ 12.99% V, $12k ** US Bank Cash+(x2) @ 15.99% V, $26k ** Citi DP VISA @ 15.99% V, $8.1k ** FNBO Amex TravElite @ 16.74% V, $15k ** Blispay @ 19.99% F, $5k ** Cap1 BuyPower WEMC @ 20.90% V, $6.25k **
Message 25 of 55
Valued Contributor

Re: For those with "stuck" Capital One accounts


BrutalBodyShots wrote:

Good point from the OP here regarding "starter" cards/accounts with CO.  This story is quite common in this forum, but far less common than people starting "why can't I grow my CO card?" threads.  Those thread-starters can certainly learn something here.

 

If you start an account with CO on less than favorable terms (low credit score, low starter limit, etc) the account will be looked at under those less than favorable terms for the life of the account, regardless of if you significantly improve your credit profile/score.

 

I'd be curious to hear the maximum that anyone has been able to grow their $5OO SL card from CO, or even a $1000 SL card. 

 

Heck, my SL with them with a 619 score was $3000 upon approval, but in 2 years was only able to grow to $4000 since the acocunt started on less than favorable terms.  The only reason I got the $3000 SL IMO was because the only other CC they could see on my credit report at the time I applied had a CL of $10,000.  Had I not had that other account on there, I likely would have been handed a $500-$1000 SL.


I've grown my $300 QS1 card into a $7,350 limit. Only did one account combination on it which added $1,750. The rest was CLI's, with two of them needing EO intervention. 



Starting scores: 552 EQ, 570 TU, 558 EX Current scores (9/29/17): 746 EQ 721 TU 719 EX
Message 26 of 55
Senior Contributor

Re: For those with "stuck" Capital One accounts


DeeBee78 wrote:



I've grown my $300 QS1 card into a $7,350 limit. Only did one account combination on it which added $1,750. The rest was CLI's, with two of them needing EO intervention. 


I think it's also important to disclose as to whether or not a small SL with a Capital One account was due to a new credit profile (like someone's first card) OR if it's a rebuilder card after some profile damage on a thicker file.  In my case, I had a thick/seasoned file but due to multiple credit hiccups I had a score of 619 at the time I applied with CO.  There are people that may get approved with a $300-$500 SL with CO that are just starting out in their credit journey that may have a score in the 600's, and I'm curious if they are frowned upon less over time than someone with a previously faulty file (like mine).

Message 27 of 55
Community Leader
Valued Contributor

Re: For those with "stuck" Capital One accounts


BrutalBodyShots wrote:

There are people that may get approved with a $300-$500 SL with CO that are just starting out in their credit journey that may have a score in the 600's, and I'm curious if they are frowned upon less over time than someone with a previously faulty file (like mine).


This is me. My credit reports fit on Post-It Notes back then. My decent limit card is solely from combining a total of 6 subprime "starter" cards over 17 years with not a single CLI, 4 of which were originally from acquired lenders. At least on the existing remaining account they are quite frowny.


$500k+ club. | FICO 08 [Oct 2017]: EQ 746 EX 738 TU 733 | World's worst gardener.
Message 28 of 55
Frequent Contributor

Re: For those with "stuck" Capital One accounts

congrats to the OP i have quicksilver MC it was stuck no CLI for years finally i got pre qualified for the quicksilver and the venture i applied for the venture and got 15k sl right before applying for the venture i press the luv button for one final time and BAM approved CL 2k the EO called me for the OLD QS MC and was told it would be HP for the CLI they said whenever you ready for the HP let us know and we will process the cli for the qs mc account Smiley Indifferent

Profile Worth 600K+ Long List Of Accounts
(Jack of All Trades Master As Well)
M a h r a j a
(Exp 766 F-8) (TU 772 F-8) (Equifax 758 F-8)
Message 29 of 55
New Contributor

Re: For those with "stuck" Capital One accounts

I will probably keep my original Cap 1 card since it is my oldest. Hopefully it will one day grow and be allowed to product change since it is a "real" Cap 1 card and not an acqusition.

 

It's just hard to take the dreaded triple pull and new account hit, but it pays off in the long run. Good luck to the others facing the same thing.

Message 30 of 55