Shocker of my day: Cap1 CLI Given

[plasticguy]

Traded my Capital One No Hassle for the Venture Card, When I called to activate it,  I went through the main menu and selected "other options"and selected change in limit . I figured it would be a waste of time because this board claims that Cap 1 does not do Customer initiated requests. I was transferred to an agent I was toldt  if the system lets them do one it would say yes or no. To my surprise it said yes. He asked how much did I want, I asked what's the Max I can have , he said it doesn't say,  so I said try 2k.  He came back and told me that the system would only allow 1k, no pulling of report, so I took it. New line is 12.6K which is good for Cap 1

Eq  798  Tu 801

Moral of post, go through the main menu select other options, request change in limit, see if it works for you

[Walt_K]

Congrats.  There was another member that posted similar success recently.  I think this demonstrates again that people with Cap One's prime products shouldn't put too much stock in the policies Cap One is using for their rebuilder cards.  Or, at the very least, they recently changed policies.  But I'll bet that those of us with rebuilder cards still won't be able to wrangle a CLI out of them. 

[laz98]

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@Walt_K wrote:

But I'll bet that those of us with rebuilder cards still won't be able to wrangle a CLI out of them. 

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tell me about it!  i went through their auto-system as well earlier this week, & i got the standard "your card is not eligible for an increase at this time, we'll send you a letter explaining why we hate you so much in 7-10 days"   pesky capital one!  i don't want to close it though, i'll have had it for 2 years next month.

congrats, plasticguy!

[Open123]

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@Walt_K wrote:

Congrats.  There was another member that posted similar success recently.  I think this demonstrates again that people with Cap One's prime products shouldn't put too much stock in the policies Cap One is using for their rebuilder cards.  Or, at the very least, they recently changed policies.  But I'll bet that those of us with rebuilder cards still won't be able to wrangle a CLI out of them. 

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Good point!

I realize Cap One's reputations has been tarnished beyond all recongization in the various forums on the internet.  For me, after my credit problems during and after collegue with the typical "irresponsible spendthrift student charge offs," they were the only CC that gave me a second chance.  For those of us who rebuild, there always has to be a first before the journey to rebuilding begins. 

I know they have their shortcommings.  What company doesn't, right?  For me, they were the "first" to give me a second chance, which made the rebuilding process possible.  Even to this day, I refuse to give up my Cap One (albeit, have one of their prime cards now) for that reason; and will insist on using it whenver I can.

[Anonymous]

.... What company doesn't, right?  For me, they were the "first" to give me a second chance, which made the rebuilding process possible.  Even to this day, I refuse to give up my Cap One (albeit, have one of their prime cards now) for that reason; and will insist on using it whenver I can.

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Cap1 does not give you a second chance. They just saw that you were willing to pay whatever (fees), to rebuild your credit. In addition, they will probably charge an annual fee near or greater than 10% of your credit line. 

So good deal for them, and make you believe, that they are giving you an opportunity

Don't be fooled

[CCOCD]

Congrats and I' sooooo jealous:

[Open123]

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@Anonymous wrote:

.... What company doesn't, right?  For me, they were the "first" to give me a second chance, which made the rebuilding process possible.  Even to this day, I refuse to give up my Cap One (albeit, have one of their prime cards now) for that reason; and will insist on using it whenver I can.

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Cap1 does not give you a second chance. They just saw that you were willing to pay whatever (fees), to rebuild your credit. In addition, they will probably charge an annual fee near or greater than 10% of your credit line. 

So good deal for them, and make you believe, that they are giving you an opportunity

Don't be fooled

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What financial institution doesn't engage in some kind of predatory lending? 

All things being equal, with a checkered credit history, what CC is better at helping rebuild?  First Premiere?  Credit One?  A secured card with fee almost as high as their unsecured card?

I'm certainly not naive to believe Cap One offers products out of altruism; but, given the limited options of rebuilding credit as a subprime borrower, one has to start somewhere.  Cap One isn't a bad choice to start.  Moreover, after the first year when some "prime" lenders are on your TL, you can move on without the fee for unsecured cards.

[plasticguy]

Thanks for the Congrats. BTW, at the time my balance was only $42.00 . I seldom charge more than $75 per month. Account was opened in Dec 2000. Even though they didn't change my account # for the upgrade, I think the upgrade had something to do with the increase. Before, I was always turned down and sent a postcard stating that my account was not eligible due to the terms. Apr is 8.9F. Last increase on the card was 4 years ago

[score_building]

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@Walt_K wrote:

Congrats.  There was another member that posted similar success recently.  I think this demonstrates again that people with Cap One's prime products shouldn't put too much stock in the policies Cap One is using for their rebuilder cards.  Or, at the very least, they recently changed policies.  But I'll bet that those of us with rebuilder cards still won't be able to wrangle a CLI out of them. 

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+1000

[ficofox]

Congrats on the CLI!

I have a quick question about the product change to the Venture card: did you call or do it online? When you do the product change, does it backdate the new card with the age history of the original card?  I have had my Cap1 rebuilder card for nearly a year now with great payment history and various CLI's.  Do you think that I would be a good candidate for a product change with Cap1 soon (score around 720)?

Thanks!