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Cap1 is Showing LOVE for the Holidays!

New Contributor

Re: Cap1 is Showing LOVE for the Holidays!

They must be on a CLI spree!

FingerHut - $2,300 | Nordstrom Retail - $500 | Capital One QuicksilverOne - $500 | Credit One Bank Platinum - $450 | Victoria's Secret - $250

Current Scores: TU: 573, EX: 512, EQ: 584 (MPM Scores)
Message 11 of 25
Frequent Contributor

Re: Cap1 is Showing LOVE for the Holidays!

Wait, so they are just upping everyone's CL without a request by you? If so, how come I got a lump of coal in my stocking? I've been debating whether to ask for an increase. I pay my card on time and have no problems, my income has increased substantially since I got the card, and I just spoke with my credit union which confirms my FICO has trended up by about 100pnts in the past year. Only thing is, that I still have Asset Acceptance and Midland reporting as if old accounts from 2005 are open serious delinquencies (Midland will delete, but update hasn't hit my CR yet) and the car shopping in May brought my inquiries way up ... I'm afraid to ask for an increase if they'll do a hard pull & conceivably just deny based on report rather than my payment history with them. An automatic increase would have been a really nice gift, but I don't see any such thing on my account. :-/


Starting Score: TU 490 on 11/2012
Current Score:6/16/15:EQ 714, EX 704, TU 702 (all from myFICO)
New Goal Score: 740+ for all three
Message 12 of 25
Regular Contributor

Re: Cap1 is Showing LOVE for the Holidays!

Send an email to the executive offices outlining the good things that have happened over the past year, then ask for twice as much as you want. They'll call you and ask if it's not approved will you accept less and that it would be a soft pull. I got my card in July, $1k cl, credit steps due to increase to $1.5k in January/February. I asked for $5k and was countered with $3k. However, remember that YEMV.
Message 13 of 25
Frequent Contributor

Re: Cap1 is Showing LOVE for the Holidays!

Thanks. That sounds like a good plan. I'm going to try to find a contact. So, it's a soft pull, not hard? This is a concern of mine, too, since excessive inquiries is one of the bad items cited for my credit. I think I've established myself sufficiently with them to get a decent increase, but I have been a little nervous at risking more inquiries ...


Starting Score: TU 490 on 11/2012
Current Score:6/16/15:EQ 714, EX 704, TU 702 (all from myFICO)
New Goal Score: 740+ for all three
Message 14 of 25
Regular Contributor

Re: Cap1 is Showing LOVE for the Holidays!

I sent you a pm with the email address.
Message 15 of 25
Valued Member

Re: Cap1 is Showing LOVE for the Holidays!

Capital One seems lenient IMO. When I opened both accounts with them I had a medical collection from 2007. I am not sure if they do hard pulls for account increases. I started out with a CL of $500 and it went up to $750 after 6 months. But that was in the terms I think. I remember reading that you qualify for a CLI after 6 months of on-time payments.


EQ 623 (03/15) TU 656 (3/15) EX 615 (3/15) GOAL: 700 + decrease util
Total $35K in credit
Message 16 of 25
Regular Contributor

Re: Cap1 is Showing LOVE for the Holidays!

Congrats everyone! I am not getting anything like this from them and I've had the card for over 9 years
=(
Message 17 of 25
Community Leader
Super Contributor

Re: Cap1 is Showing LOVE for the Holidays!

Congrats. Cap 1 seems to be the epitome of YMMV. Some get love others don't. Go figure.

Message 18 of 25
Regular Contributor

Re: Cap1 is Showing LOVE for the Holidays!


phix wrote:

Just logged into my dog Capital One Platinum (ex. Orchard Bank) and noticed they finally upped my credit limit from $300 to $500! I figured I'd strike while the iron is hot and guess what.... got upgraded to quicksilver; no annual fee and 1.5% cash back... my first real rewards card!


Congrats on the upgrades.

Message 19 of 25
Regular Contributor

Re: Cap1 is Showing LOVE for the Holidays!


scorpio_queen02 wrote:

Capital One seems lenient IMO. When I opened both accounts with them I had a medical collection from 2007. I am not sure if they do hard pulls for account increases. I started out with a CL of $500 and it went up to $750 after 6 months. But that was in the terms I think. I remember reading that you qualify for a CLI after 6 months of on-time payments.


I have a Capital One card that I haven't used in a very long time and it's because of what they did to me and the credit steps program. It's a $500 limit card.

 

I initially got a $1K limit and was on credit steps. 6 months later, I graduated to 1.5K as they promised.  A few months down the road (with good payments, always on time and paid in full) they sent me a letter "Whoops, we started you off with the wrong limit, our bad, it was supposed to be $500!"  So since I already had my step up, you would think I would get lowered to 1K, logically, it makes sense. Instead, my new limit was $500, and I never was able to convince them to increase it or give me my credit step back.

 

I really haven't used the card since. I haven't bothered with the EO, but not sure if it's worth my time. I have a few other cards now, who enjoy my business and give me CLI without me asking and treat me very well. I keep it open just for age, at this point.

 

Just beware, They can giveth, and they can taketh away.

Message 20 of 25