No LUV from Capital One

mato01 · ‎09-14-2014

It's been 6 months since my last CLI increase from Capital One. Since I'm gardening and not applying for new credit I would try for a CLI.

Denied.....

I got the canned response document that stated reason for denial was: "Recent use of this account's existing credit line has been too low".

My credit limit is $2000, and I run about 400 - 800 each month on the card, and make sure that if I don't pay if off that is less than 10% of the credit line.

I really don't get this explanation. What????? Are they saying that I have to use more of the credit line each month?

Anyway, staying in the garden and hoping that with time and effort, things improve. Been very stagnant but not going to let it get me down.

By the way, I sent a message through Facebook, and probably within 10 minutes of sending my message, I received a response that gave me a link to the Capital One website to read their list of explanations.

In the Garden until 6/1/2016
Mar 2014: All Scores in the 520 range.
FEB 2016: myFICO: EQ 660, TU 682 EX 681

barthooper · ‎09-14-2014

If this really is their policy, then all I can say is I'm glad I got started out with a $10k CL on my Quicksilver...

keithB · ‎09-14-2014

@mato01 wrote:
It's been 6 months since my last CLI increase from Capital One. Since I'm gardening and not applying for new credit I would try for a CLI.

Denied.....

I got the canned response document that stated reason for denial was: "Recent use of this account's existing credit line has been too low".

My credit limit is $2000, and I run about 400 - 800 each month on the card, and make sure that if I don't pay if off that is less than 10% of the credit line.

I really don't get this explanation. What????? Are they saying that I have to use more of the credit line each month?

Anyway, staying in the garden and hoping that with time and effort, things improve. Been very stagnant but not going to let it get me down.

By the way, I sent a message through Facebook, and probably within 10 minutes of sending my message, I received a response that gave me a link to the Capital One website to read their list of explanations.

Sounds like a generic excuse too me. I got an excuse like that from Citi when I wanted a second card. Where are your credit scores at? At certain levels, they nit-pick until your over all picture looks more appealing. Might be best to wait until you are in the 700 range, as your goal score states.