topic Re: Capital One credit cards in Credit Card Approvals

Capital One credit cards

Krowdy — Wed, 01 Nov 2017 15:53:51 GMT

I have a quicksilver that was upgraded fro thecap platinum I got about 2 years ago and have paid religiously. It started at $500 and is now $1000. I’ve been declined for my last 2 CLI so once again I take to this forum for ideas. I read all about step cards and how they seem to be capped out internally and how they want you to apply for another card.
Fast forward to yesterday and I clicked the CLI increase and got declined this morning. Frustrating so I applied for a new quicksilver right after. It gave me the 7-10 day wait and like suggested on here I called them. They asked me to verify my identity and then approved me for a $30,000 SL.

It’s sad that you have to actually reapply for the same card and waste a HP to get an increase on a credit line.

Side note: can you still combine 2 quicksilver cards?

Re: Capital One credit cards

Anonymous — Wed, 01 Nov 2017 16:01:48 GMT

We just had this identical thread discussion elsewhere a few days ago, lol. I'll try to find my comments on it but Capital One obviously has a reason for limiting certain cards and forcing you to reapply (as I discussed in the other thread).

Congrats on $30k!

Re: Capital One credit cards

Anonymous — Wed, 01 Nov 2017 16:03:41 GMT

Here is the thread: http://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-Secured-Card-Just-Won-t-Upgrade/td-p/5082362

Note my comments on my theory as to why Capital One actually can't let certain cards go too big -- I have no evidence on it but knowing how financial markets work, it isn't too unbelievable. There's a cost to people who had subprime scores (myself included) in what it takes to get them a credit card without ridiculous fees. That risk isn't free.

Re: Capital One credit cards

Anonymous — Wed, 01 Nov 2017 20:36:56 GMT

Congratulations on the new card and excellent sl. Dv

Re: Capital One credit cards

Shooting-For-800 — Thu, 02 Nov 2017 00:15:49 GMT

You probably would have been really happy with a 4k CLI to 5k but you are not happy to get 30k due to inquiries?

Although Cap One is quirky, I find them to be very generous with those who get ignored (me included) by other large banks.

Last time I checked you can still combine cards if the closing card has $0 balance.

I would be cautious about going over $30k limit though, there seems to be a threshold there that gets more attention and AAs.

Enjoy your new card.

Re: Capital One credit cards

Starting_Over2013 — Thu, 02 Nov 2017 00:43:11 GMT

@Krowdy wrote:
I have a quicksilver that was upgraded fro thecap platinum I got about 2 years ago and have paid religiously. It started at $500 and is now $1000. I’ve been declined for my last 2 CLI so once again I take to this forum for ideas. I read all about step cards and how they seem to be capped out internally and how they want you to apply for another card.
Fast forward to yesterday and I clicked the CLI increase and got declined this morning. Frustrating so I applied for a new quicksilver right after. It gave me the 7-10 day wait and like suggested on here I called them. They asked me to verify my identity and then approved me for a $30,000 SL.

It’s sad that you have to actually reapply for the same card and waste a HP to get an increase on a credit line.

Side note: can you still combine 2 quicksilver cards?

Congrats on the sweet limit! I had a similar situation with Cap One...my cards were both stuck at lower limits. So I paid one off, then combined them for a total cl of $8k. Then I applied for a Venture and was approved for $20k. Ridiculous!

Re: Capital One credit cards

Krowdy — Thu, 02 Nov 2017 02:04:44 GMT

I agree and I know it may sound silly about the hard pull but the reason that I was frustrated is that I’m being transferred next summer and will be buying a house in the insane property tax world of the northeast. I’m coming from the south and the interest rate I get will be important. I have FICO scores of 712, 713 and 717 but hope to be in the mid to high 700s by summer. It’s all good. Just stared at those scores for so long praying they would go up that the thought of losing a few points make me nauseous! Lol

Re: Capital One credit cards

Anonymous — Thu, 02 Nov 2017 02:08:58 GMT

Depending on your CL utilization, your awesome new SL may positively impact your scores across the board negating any inquiry impact.

Re: Capital One credit cards

Anonymous — Thu, 02 Nov 2017 02:12:01 GMT

If you don't mind, what were your scores when you reapplied?

Re: Capital One credit cards

Anonymous — Thu, 02 Nov 2017 02:21:39 GMT

I get where they're coming from with their practice of not allowing a once starter account to grow. This has been reported by many on this forum, myself included. In many cases, CO let's people "in" that perhaps would get denied by other lenders, so I feel like since they more or less look at it like they did you a favor they expect you at some point to apply for a new (better) product. It sort of is what it is, I suppose.

Re: Capital One credit cards

Krowdy — Thu, 02 Nov 2017 10:18:11 GMT

712,713,717