Reply
Frequent Contributor
scarrollprint
Posts: 382
Registered: ‎06-26-2012

News straight from the Cap 1 Executive office

I just got off the phone with a nice lady in the executive office.

 

She called in regards to an email I sent with some concerns regarding things I have been told in the chats.

 

Long story short; the issue of CLIs was addressed (or rather the lack there of) and she said they have been reviewing their process as a majority of their customers taht they wish to retain have been closing their cards and not re-applying for cards that are more suited for their needs. She said that they are starting to actually have a manual review through an underwriter when a credit limit increase is requested by a customer.

 

She said up until very recently it was all a system thing even if you requested it and it was a series of 'yes or no' questions at least now if one is initiated (I'm assuming at least through the Exec. office) that it will go to an underwriter and require more info that may or may not be current from when you applied. All questions asked were basic App questions and took 3 mins to answer and no other work needed on my part.

 

She said there is a transition into this new system of working and eventually they hope that it will help in the customer retention.

 

There you go, Thats the news from Lake Wobegon.



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Valued Contributor
jsucool76
Posts: 2,770
Registered: ‎12-11-2011

Re: News straight from the Cap 1 Executive office

To me, manual review meand they'll start HPing for CLIs
Wallet: Capital One Cash Rewards 3500CL, Wells Fargo Cash Back College Visa: 900CL, Paypal Smart Connect: 1286CL, Walmart Discover: 2000CL, UPromise Mastercard: 1000CL, Chase Slate: 500CL, Discover IT: 2000CL, Citi Forward: 1500CL, Bank Of America Student Travel Rewards: 700CL
Frequent Contributor
scarrollprint
Posts: 382
Registered: ‎06-26-2012

Re: News straight from the Cap 1 Executive office


jsucool76 wrote:
To me, manual review meand they'll start HPing for CLIs

She told me it wouldn't....She also said she would put a response in writting via email to me later with all the key points we talked about and I asked to make sure that would be put in.

 

She said they would do a SP for the review - but that seems pretty standard at the minimal.

 

 



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Valued Contributor
maiden_girl
Posts: 2,005
Registered: ‎12-29-2011

Re: News straight from the Cap 1 Executive office

I won't close my account...but I definitely won't be using it again due to their stupid CLI rules--if they are working on their system as they claim, they shouldn't be letting people with these cards request CLI and get denied for no reason. I paid off my balance and cashed in my rewards. I'm done with Capital One.

The truth is out there...
FICO scores: 724 (EQ) 709 (EX) 711 (TU) 4/14 | Goal score: 750+ (all 3)
Tradelines: Capital One (5.0k) | Discover IT (5.0k) | Walmart Discover (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)
--------------------------Gardening until my credit recovers...NO MORE INQUIRES TIL 2015
Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012

Re: News straight from the Cap 1 Executive office

I really hope the new system become effective immediately.

Valued Contributor
jsucool76
Posts: 2,770
Registered: ‎12-11-2011

Re: News straight from the Cap 1 Executive office


Credit314 wrote:

I really hope the new system become effective immediately.


They've been using the new system in their CLI denial letters for months now. 

Wallet: Capital One Cash Rewards 3500CL, Wells Fargo Cash Back College Visa: 900CL, Paypal Smart Connect: 1286CL, Walmart Discover: 2000CL, UPromise Mastercard: 1000CL, Chase Slate: 500CL, Discover IT: 2000CL, Citi Forward: 1500CL, Bank Of America Student Travel Rewards: 700CL
New Contributor
baronofthenorth
Posts: 72
Registered: ‎03-19-2011

Re: News straight from the Cap 1 Executive office

[ Edited ]

maiden_girl wrote:

I won't close my account...but I definitely won't be using it again due to their stupid CLI rules--if they are working on their system as they claim, they shouldn't be letting people with these cards request CLI and get denied for no reason. I paid off my balance and cashed in my rewards. I'm done with Capital One.


Me too!  I just paid of a couple zero percent balance transfers and cashed in my rewards check also.  Moving on...unless I could get the Venture One in the distant future.  Hmmm...

EQ FICO 695 (4/26/2012)
TU FAKO CK 723
Lender Pulls (for mortgage) 12/03/2012 - 698 EQ, 729 TU, 721 EX
Business Cards: Discover Business Miles and US Bank FlexPerks Cash Rewards
Personal Cards: Capital One, Chase Freedom, Chase Amazon, Wells Fargo Rewards, Amex Zync NPSL, Target, Chevron/Texaco Store Card and VISA, CareCredit
Super Contributor
CS800
Posts: 6,548
Registered: ‎04-07-2008

Re: News straight from the Cap 1 Executive office

I contacted the exec office and still waiting to see if they will PC me to the green cash card from my rebuilder (with perfect payment history in the last 4 years)

 

 




Valued Contributor
maiden_girl
Posts: 2,005
Registered: ‎12-29-2011

Re: News straight from the Cap 1 Executive office


baronofthenorth wrote:

maiden_girl wrote:

I won't close my account...but I definitely won't be using it again due to their stupid CLI rules--if they are working on their system as they claim, they shouldn't be letting people with these cards request CLI and get denied for no reason. I paid off my balance and cashed in my rewards. I'm done with Capital One.


Me too!  I just paid of a couple zero percent balance transfers and cashed in my rewards check also.  Moving on...unless I could get the Venture One in the distant future.  Hmmm...


No card from them would keep me...unless they gave me a huge CLI after 2 years of service..hmmm. I wonder...

 

The truth is out there...
FICO scores: 724 (EQ) 709 (EX) 711 (TU) 4/14 | Goal score: 750+ (all 3)
Tradelines: Capital One (5.0k) | Discover IT (5.0k) | Walmart Discover (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)
--------------------------Gardening until my credit recovers...NO MORE INQUIRES TIL 2015
Valued Contributor
jsucool76
Posts: 2,770
Registered: ‎12-11-2011

Re: News straight from the Cap 1 Executive office


CS800 wrote:

I contacted the exec office and still waiting to see if they will PC me to the green cash card from my rebuilder (with perfect payment history in the last 4 years)

 

 


Good luck!

 

The executive office seems to be pretty helpful. Did you call them or email them? 

 

 

Wallet: Capital One Cash Rewards 3500CL, Wells Fargo Cash Back College Visa: 900CL, Paypal Smart Connect: 1286CL, Walmart Discover: 2000CL, UPromise Mastercard: 1000CL, Chase Slate: 500CL, Discover IT: 2000CL, Citi Forward: 1500CL, Bank Of America Student Travel Rewards: 700CL

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+