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Established Member
Posts: 32
Registered: ‎09-22-2008
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Will the Retention Department up a credit limit?

Ok, I know when you threaten to cancel a card and are sent over to the customer retention unit, they will generally lower your interest rate, remove annual fees. However will they ever raise your credit limit. I ask because I have a capital one card with a great interest rate (6.9%). I also have a $3000 on a BofA card at 12.24%. But my Cap One only has a $1000 limit, will the retention department raise the limit even though I was denied on my last request a month ago?

 

 

Regular Contributor
Posts: 231
Registered: ‎02-16-2008
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Re: Will the Retention Department up a credit limit?

[ Edited ]

Sometimes the retention dept will increase your limit to keep you.  This is how I got my hsbc CL increased.  However be careful, because sometimes the retention dept will say, "Okay we'll close the account for you sir, and sorry that we couldn't keep you."

 

That's my2cents.

Message Edited by My2cents on 12-12-2009 08:38 PM
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Posts: 32,869
Registered: ‎08-04-2007
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Re: Will the Retention Department up a credit limit?


My2cents wrote:

Sometimes the retention dept will increase your limit to keep you.  This is how I got my hsbc CL increased.  However be careful, because sometimes the retention dept will say, "Okay we'll close the account for you sir, and sorry that we couldn't keep you."

 

That's my2cents.

Message Edited by My2cents on 12-12-2009 08:38 PM

 

+1. I can't tell you how many posts I've read where someone threatened to cancel, not intending to be cancelled, ended up being cancelled.
Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
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Re: Will the Retention Department up a credit limit?


jthompson5254 wrote:

Ok, I know when you threaten to cancel a card and are sent over to the customer retention unit, they will generally lower your interest rate, remove annual fees. However will they ever raise your credit limit. I ask because I have a capital one card with a great interest rate (6.9%). I also have a $3000 on a BofA card at 12.24%. But my Cap One only has a $1000 limit, will the retention department raise the limit even though I was denied on my last request a month ago?


I have obtained concessions from CC companies through a retention specialist and I have suggested that others here speak to a retention specialist in certain situations. However, I have never threatened and do not recommend that anyone ever threaten to close a credit card in an attempt to get what they want. You may well end up with a closed CC.

 

I did this most recently with HSBC regarding the AF on my Direct Merchants Bank MC. After being told by a front line CSR on multiple occasions that the AF could not be waived I finally asked to be sent to retention specialist. The specialist reviewed my account and permanently removed the AF. Closing my account was never even mentioned.

 

Whether a retention specialist can grant CLI's is going to vary by issuer. I believe it has be reported here by others recently that Cap1 is not accepting cardholder initialed CLI requests at this time. I would not think that a retention specialist would be able to end run such a policy. You could always ask - you can ask any question if you ask it in the right way. Just be very careful. Make sure you present your "request" in the form of a "question" and be prepared to graciously accept "NO" for an answer.

Super Contributor
Posts: 6,026
Registered: ‎09-18-2007
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Re: Will the Retention Department up a credit limit?

HSBC is the only bank I know of who would increase the cl.
Senior Contributor
Posts: 4,214
Registered: ‎09-12-2008
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Re: Will the Retention Department up a credit limit?

CapOne will not raise your CL.  And you stand a real chance of them closing without you having opportunity to change your mind.

 

CapOne is not offering customer initiated CL's at this time.

IMO and IME I would not advise this course of action with CapOne unless you truly want to cancel.

 

 

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Super Contributor
Posts: 5,744
Registered: ‎01-28-2008
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Re: Will the Retention Department up a credit limit?


jthompson5254 wrote:

Ok, I know when you threaten to cancel a card and are sent over to the customer retention unit, they will generally lower your interest rate, remove annual fees. However will they ever raise your credit limit. I ask because I have a capital one card with a great interest rate (6.9%). I also have a $3000 on a BofA card at 12.24%. But my Cap One only has a $1000 limit, will the retention department raise the limit even though I was denied on my last request a month ago?

 

 


I wouldn't consider giving Capital One an ultimatum to expedite one's chance of getting a CLI.  Capital One has become infamous about not giving CLI when requested.  Just focus on your other cards and squeeze whatever possible increase you can get with them  

Valued Contributor
Posts: 1,754
Registered: ‎11-03-2007
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Re: Will the Retention Department up a credit limit?

If you know BOA's retention department #, please let me know it.

 

I doubt they have one. I think BOA will close your accounts without regret.


jthompson5254 wrote:

Ok, I know when you threaten to cancel a card and are sent over to the customer retention unit, they will generally lower your interest rate, remove annual fees. However will they ever raise your credit limit. I ask because I have a capital one card with a great interest rate (6.9%). I also have a $3000 on a BofA card at 12.24%. But my Cap One only has a $1000 limit, will the retention department raise the limit even though I was denied on my last request a month ago?

 

 


 

IN VINO VERITAS.
Super Contributor
Posts: 5,744
Registered: ‎01-28-2008
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Re: Will the Retention Department up a credit limit?


wmarat wrote:

If you know BOA's retention department #, please let me know it.

 

I doubt they have one. I think BOA will close your accounts without regret.


jthompson5254 wrote:

Ok, I know when you threaten to cancel a card and are sent over to the customer retention unit, they will generally lower your interest rate, remove annual fees. However will they ever raise your credit limit. I ask because I have a capital one card with a great interest rate (6.9%). I also have a $3000 on a BofA card at 12.24%. But my Cap One only has a $1000 limit, will the retention department raise the limit even though I was denied on my last request a month ago?

 

 


 


But BOA is also the first who would reopen your account if you decided to close it.  There are some good and bad about BOA.

Valued Contributor
Posts: 1,754
Registered: ‎11-03-2007
0

Re: Will the Retention Department up a credit limit?

Good luck.

 


DI wrote:

wmarat wrote:

If you know BOA's retention department #, please let me know it.

 

I doubt they have one. I think BOA will close your accounts without regret.


jthompson5254 wrote:

Ok, I know when you threaten to cancel a card and are sent over to the customer retention unit, they will generally lower your interest rate, remove annual fees. However will they ever raise your credit limit. I ask because I have a capital one card with a great interest rate (6.9%). I also have a $3000 on a BofA card at 12.24%. But my Cap One only has a $1000 limit, will the retention department raise the limit even though I was denied on my last request a month ago?

 

 


 


But BOA is also the first who would reopen your account if you decided to close it.  There are some good and bad about BOA.


 

IN VINO VERITAS.
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