cancel
Showing results for 
Search instead for 
Did you mean: 

economy effects capital one?

tag
CreditDrama85
Established Contributor

economy effects capital one?

when is the last time someone got a cli from capital one? maybe clis after this week should be reported to this post on the forum. i called cap one this week for a cli and they gave me some crap about "cap one no longer giving clis due to the economy" i basically told the rep they were full of crap. THEN i checked my account info via the automated phone system and now there is an option about "recent changes in terms due to economic conditions" with an option to decline. this is weird and a bit absurd.

 

i should note that the backdoor number was called and those reps are now say no more clis at all because of the economy.

Message Edited by CreditDrama85 on 02-04-2009 06:23 PM
Message Edited by CreditDrama85 on 02-04-2009 06:24 PM
Message 1 of 47
46 REPLIES 46
MojaveMoon
Established Contributor

Re: economy effects capital one?

Judging from the replies on another forum in a long running thread "More Capital One Luv from the Magic Number", if that's not the truth then that might be close to the truth. In that other thread, the approved requests for CLIs seem to have slowed down to a trickle.

I was approved for a CLI at the end of last month for $ 500. But maybe, unbeknownst to us, I was approved right before Capital One shut off CLIs ? Or maybe my approval had something to do with the amount of time since my last request for a CLI (two years) ?

Message 2 of 47
FICOADDICTED
New Contributor

Re: economy effects capital one?

I'm sorry to hear about Cap One; I have a Cap One card for about 8-9 years now and with $1300 limit 2-3 months ago I requested to get my APR lowered and got it but when I asked if I'm available for CLI they said I was not eligible. So no worries at least I tried but 2-3 weeks ago they auto CLI me for an additional $2k (total CL $3300.00) and I got a letter last week for it. So go figure, this was a real shocker and did not expect it at all.
Amex (3), Chase (2), Cap One(2), USAA (1), NFCU (1), Citi (2) Nordie Store Card, VS, BB Store card and HD store card......
Message 3 of 47
Anonymous
Not applicable

Re: economy effects capital one?

They've never given me a cl increase in the last two years ): but I did notice their interest on one of my cards has gone down twice in the last few months.  It's actually lower than my Chase card now, so I guess I can't complain since my credit history when I got the cards was pretty bad.
Message 4 of 47
Comp5569
Regular Contributor

Re: economy effects capital one?

I dont believe this is true at all.  My girlfriend has had a Cap 1 card forever.  This is her only card, and she does not play the fico game.  She uses the card all month, and pif every month since she has had it.  Well last week when she logged in, she had gone from a $4k credit limit, to a $9k credit limit. 

 

 

Message 5 of 47
jestan01
Valued Member

Re: economy effects capital one?

Hi, All!

Last September i called the backdoor # and was approved for $500...

Hope this helps.

Message 6 of 47
laz98
Senior Contributor

Re: economy effects capital one?

it hasn't affected my credit steps so far....but i'm due for one more bump, so we'll see.
Message 7 of 47
Creditaddict
Legendary Contributor

Re: economy effects capital one?

I called about our business cards for APR reductions and was told Capital One was making major changes to there accounts and they could not consider any changes until after these take effect. and accounts did not qualify for CLI's which I assumed, balances are kind of high
Message 8 of 47
lisac
Regular Contributor

Re: economy effects capital one?

i just received my new capital one card. 2k cl and they enrolled me in credit steps, 4th statement 500, 7th statement 1K!!!! So in 7 months it will be 3.5k. Thats good for my economy.  0 interest til 2/10 and 12. something after. I was very shocked. My scores average 625 because I have a ton of new accounts and about 45% util. I also have an another card with them: First card started at 1k got a 2nd card for 500, after several years got cli of 1k on each, combined and more cli now at 5.5k. So maybe the history helped with them?

Message 9 of 47
Comp5569
Regular Contributor

Re: economy effects capital one?

Don't hold your breath on the Credit Steps.  It has been over 2 weeks since my 4th statement credit steps was supposed to kick in so I just called.  She kept praising me for always paying off the account every month and on time.

 

Then she said that they have been cutting back, mainly due to the economic times, and it has no reflection on me as a customer.

 

THANKS!  haha.    

Message 10 of 47
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.