topic Re: Cap1 Toy Card and Luv Button in Credit Card Applications

Cap1 Toy Card and Luv Button

Anonymous — Wed, 04 Oct 2017 22:12:30 GMT

I opened a Cap1 Secured card - they made it unsecured two months ago, CL of $500. I hit the LUV button and they will let me know in 2-3 days.

Is that a yes or a polite no?

Re: Cap1 Toy Card and Luv Button

SomewhereIn505 — Wed, 04 Oct 2017 22:25:53 GMT

@Anonymous wrote:
I opened a Cap1 Secured card - they made it unsecured two months ago, CL of $500. I hit the LUV button and they will let me know in 2-3 days.

Is that a yes or a polite no?

Polite no.

Re: Cap1 Toy Card and Luv Button

Anonymous — Wed, 04 Oct 2017 23:03:13 GMT

@SomewhereIn505 wrote:
@Anonymous wrote:
I opened a Cap1 Secured card - they made it unsecured two months ago, CL of $500. I hit the LUV button and they will let me know in 2-3 days.

Is that a yes or a polite no?
Polite no.

That's what I figured. OK, it remains in the sock drawer, to see the light of day twice a year to buy a tank of gas.

Re: Cap1 Toy Card and Luv Button

SomewhereIn505 — Thu, 05 Oct 2017 01:19:56 GMT

@Anonymous wrote:
@SomewhereIn505 wrote:
@Anonymous wrote:
I opened a Cap1 Secured card - they made it unsecured two months ago, CL of $500. I hit the LUV button and they will let me know in 2-3 days.

Is that a yes or a polite no?
Polite no.
That's what I figured. OK, it remains in the sock drawer, to see the light of day twice a year to buy a tank of gas.

ARe you on credit steps? There is some success around the 5th month mark just prior to the CLI.

Re: Cap1 Toy Card and Luv Button

Meanmchine — Thu, 05 Oct 2017 02:47:27 GMT

2-3 day notice is kiss of death

Sorry

Re: Cap1 Toy Card and Luv Button

Anonymous — Thu, 05 Oct 2017 03:47:07 GMT

@SomewhereIn505 wrote:
@Anonymous wrote:
@SomewhereIn505 wrote:
@Anonymous wrote:
I opened a Cap1 Secured card - they made it unsecured two months ago, CL of $500. I hit the LUV button and they will let me know in 2-3 days.

Is that a yes or a polite no?
Polite no.
That's what I figured. OK, it remains in the sock drawer, to see the light of day twice a year to buy a tank of gas.
ARe you on credit steps? There is some success around the 5th month mark just prior to the CLI.

I don't know what you mean by credit steps, but I am not on anything with them. I have never owed them more than the price of a tank of gas on this card and the bill was always paid before the bill was sent.

Re: Cap1 Toy Card and Luv Button

Anonymous — Thu, 05 Oct 2017 03:48:09 GMT

@Meanmchine wrote:
2-3 day notice is kiss of death
Sorry

Meaning????? They are closing the account? Maybe that's why they returned the security I had when it was a secured card.

Re: Cap1 Toy Card and Luv Button

Anonymous — Thu, 05 Oct 2017 04:42:07 GMT

Kiss of death does not mean they are closing the account. What hes saying is that the 2-3 days is always a decline.

Im not saying it is impossible for you to get a CLI but with the usuage you are saying you put on the card i find it highly improbable.

Cap one has always gone up for me but with usage. If you show you need the limit to be higher why would they raise the limit ?

Good luck.

Re: Cap1 Toy Card and Luv Button

Anonymous — Thu, 05 Oct 2017 13:06:26 GMT

I was in a similar situation as you, my CapOne unsecured last August and I PC'd the card to Quicksilver. Everything has remained the same, including the limit of $500. I attempted to submit a request for a limit increase, but had been met with the 2-3 day notice, which eventually lead to a denial a couple of days after. I had called customer services to inquire, why that is, and was told that since the card was just recently unsecured, that I would not be eligible for an increase until the 6th month post graduation. Which does not make sense to me, since they've already had 12 mos. of my usage and payment history. That along with my scores being almost 200 points more than what I started out with during the time they approved me for the secured card. It really doesn't make sense to me. On the upside, I have new trade lines which are more willing to grow with me. So, still a win win

Re: Cap1 Toy Card and Luv Button

Anonymous — Thu, 05 Oct 2017 13:17:17 GMT

@clark_d_shark: it does make sense because Capital One doesn't allow a CLI for 6 months after a CLI request OR a PC.

IF you want to PC/upgrade, do a CLI request BEFORE requesting PC/upgrade.

Re: Cap1 Toy Card and Luv Button

Anonymous — Thu, 05 Oct 2017 13:32:15 GMT

@Anonymous wrote:
@Anonymous: it does make sense because Capital One doesn't allow a CLI for 6 months after a CLI request OR a PC.

IF you want to PC/upgrade, do a CLI request BEFORE requesting PC/upgrade.

I should have! But what happened was that I called them, TWICE, before even going ahead with the product change and asked them if upgrading the card would hamper any eligibility for a CLI and I saved both Chats. Both CSR's said product changing would not affect my eligibility so I went with it. I did send them a letter with my argument on that and included both transcripts and how it does not coincide with their policies. Hopefully, I would get a callback from their EO resolutions dept. I am not hoping for any favorable results, but just for them to clarify these policies with their employees across the board. It's a bit annoying.

Re: Cap1 Toy Card and Luv Button

Anonymous — Thu, 05 Oct 2017 13:59:15 GMT

@Anonymous wrote:
@Anonymous: it does make sense because Capital One doesn't allow a CLI for 6 months after a CLI request OR a PC.

IF you want to PC/upgrade, do a CLI request BEFORE requesting PC/upgrade.
I didn't request the upgrade - they did it all by themselves. Maybe I should tell them to keep the upgradte and give me the CLI in its place?

Re: Cap1 Toy Card and Luv Button

Anonymous — Thu, 05 Oct 2017 14:05:38 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous: it does make sense because Capital One doesn't allow a CLI for 6 months after a CLI request OR a PC.

IF you want to PC/upgrade, do a CLI request BEFORE requesting PC/upgrade.
I didn't request the upgrade - they did it all by themselves. Maybe I should tell them to keep the upgradte and give me the CLI in its place?

Best way to get some results would be to request for EO Intervention. If you call customer service as to get transferred to a supervisor. They can submit a request to their Executive resolutions dept. to call you back. I have yet to receive any callback, since they said it may take about 3-5 business days, but Im giving them the benefit of the doubt to see if they will follow through. If they do, you can explain to them about wanting to use the card more, but the miniscule CL is not warranting any usage from you.

Re: Cap1 Toy Card and Luv Button

Anonymous — Thu, 05 Oct 2017 14:12:54 GMT

What do you think would happen if I sent the card back with a letter telling them that a $529 CL is more of an insult than a credit line and if they want to return the card to me with a CL I can use rather than run into Utilization issues after buying a tank of gas that would be fine, otherwise who the heck needs a $529 CL. With mid 700 scores I really should be getting better CLs than $529.

Re: Cap1 Toy Card and Luv Button

HeavenOhio — Thu, 05 Oct 2017 14:28:59 GMT

With Capital One, a product change doesn't change CLI eligibility. Nothing changes except for the product itself.

The best way to coax a CLI out of Capital One is to use the card. Ramping up its usage in the two to three months prior to a CLI request should do the trick. If necessary, make mid-cycle payments during this time to keep your utilization in check.

Call customer service to see exactly when you're eligible for a CLI. They'll know that. Also ask if you happen to be in the Credit Steps program. Credit Steps offers a couple of small CLIs at designated intervals on Captial One cards with low limits.

Re: Cap1 Toy Card and Luv Button

Anonymous — Thu, 05 Oct 2017 14:38:37 GMT

When I was first building credit I got a QS1 card with a $300 cli. Capital one has a program called credit steps where they will automatically increase your CL at month 5 and at month 11. For me it went from $300 to $500 at month 5 and $500 to $1000 at month 11. Call and ask if they have you in the program. Obviously you still have to show perfect payment history and lower utilization in order to get the auto CLI

Re: Cap1 Toy Card and Luv Button

Anonymous — Thu, 05 Oct 2017 16:42:06 GMT

@Anonymous wrote:
What do you think would happen if I sent the card back with a letter telling them that a $529 CL is more of an insult than a credit line and if they want to return the card to me with a CL I can use rather than run into Utilization issues after buying a tank of gas that would be fine, otherwise who the heck needs a $529 CL. With mid 700 scores I really should be getting better CLs than $529.

Best action ever!

Re: Cap1 Toy Card and Luv Button

Anonymous — Thu, 05 Oct 2017 17:09:58 GMT

I think those of us who started out as secured cards, are automatically part of the credit steps, which is why we received auto limit increases on the 5th statements. I called in just now and spoke to one of their escalation agents, who then me to one of her supervisors, who took all of my feedback. And was advised that my prior contact with them was already submitted to the Executive resolutions dept. and will be receiving a callback from them soon. I did not know that these cases would have to be assigned to a specific ER officer. But I will update with data, and hopefully favorable news once I receive a callback.

Re: Cap1 Toy Card and Luv Button

Anonymous — Thu, 05 Oct 2017 17:14:29 GMT

@Anonymous wrote:
I think those of us who started out as secured cards, are automatically part of the credit steps, which is why we received auto limit increases on the 5th statements. I called in just now and spoke to one of their escalation agents, who then me to one of her supervisors, who took all of my feedback. And was advised that my prior contact with them was already submitted to the Executive resolutions dept. and will be receiving a callback from them soon. I did not know that these cases would have to be assigned to a specific ER officer. But I will update with data, and hopefully favorable news once I receive a callback.

I should be able to see if this is the case this month -- although I did a whopper of a secured card limit.

Applied for Cap One back in March -- prequalified for Platinum or Platinum Secured. Went for the secured variety so I could get a strong SL ($3000 max deposit).

Sent the full deposit and by May they sent me the card. My account opening day is May 2 2017 or something like that.

Statements were May, June, August, September (nothing in July because I changed my payment date) -- 4 statements.

October's statement cuts around the 11th and CRAs should update a few days after.

Will be interesting to see if they send me any CLI or not for Credit Steps. I never received an email about it on the Platinum Secured but my much newer QS1 did in fact get the email saying I was enrolled.

Re: Cap1 Toy Card and Luv Button

Anonymous — Fri, 06 Oct 2017 23:50:25 GMT

Crap1 made it official today - no CLI. Their card will be growing cobwebs in my sock drawer for the next decade or so. At least there is no AF. THe moment they put in an AF this card is ashes.