topic Re: CAP 1 Credit Increase soft pull? in Credit Card Applications

CAP 1 Credit Increase soft pull?

Anonymous — Tue, 19 Feb 2019 23:42:32 GMT

Hey guys

I submitted an increase a week or so ago and it was pending and now has been denied. They did a hard pull for this, it states on the website it will not effect my credit or pull a hard hit. Of course it did hit me with a hard hit.

I called capital one and told me I need to submit a letter to the credit dispute department. They wanted me to provide my account number, full name, dob and my social. I told them I’m not about to send that in a letter in the mail.

Is there another way I can get the hard hit removed?

Re: CAP 1 Credit Increase soft pull?

Anonymous — Wed, 20 Feb 2019 00:45:10 GMT

I’d like to think you have a few options other than the letter, either contact the capital one executive office or dispute directly with the credit bureau.

Re: CAP 1 Credit Increase soft pull?

Anonymous — Wed, 20 Feb 2019 01:29:30 GMT

Thank you, I was thinking the same. I am not trying to be dumb and send all that out in the mail system.

Re: CAP 1 Credit Increase soft pull?

Anonymous — Wed, 20 Feb 2019 01:33:44 GMT

It’s not really worth fighting. You initiated a request for additional credit and they’re within their rights to perform a HP for the request. Either send them the documentation requested or just wait for it to drop off. If you dispute it, you’re just risking causing even more problems and they’ll just validate it anyway.

Re: CAP 1 Credit Increase soft pull?

Anonymous — Wed, 20 Feb 2019 02:21:47 GMT

I just figured because when I went on there it said it will not effect my credit and when I called they stated the same and it should not be been pulled. I am just uncomfortable putting all my personal info out there to get it removed. I will probably end up letting it go.

Re: CAP 1 Credit Increase soft pull?

Anonymous — Wed, 20 Feb 2019 02:41:40 GMT

@Anonymous wrote:
I just figured because when I went on there it said it will not effect my credit and when I called they stated the same and it should not be been pulled. I am just uncomfortable putting all my personal info out there to get it removed. I will probably end up letting it go.

I get why you’re upset about it but I wouldn’t want to submit all that information in the mail either when in the grand scheme of things, an HP is pretty minor. I would mail the EO and complain about it though since this is one of those times where Capital One clearly made a mistake that can be rectified by a human.

Re: CAP 1 Credit Increase soft pull?

Anonymous — Wed, 20 Feb 2019 18:10:32 GMT

This is again another reason why I do not have them in my wallet anymore. You are a number to them. They give you 1.5% BUT charge you a high interest rate, and give you horrible CLI.

Re: CAP 1 Credit Increase soft pull?

Anonymous — Thu, 21 Feb 2019 00:08:04 GMT

I am seriously reconsidering having them in my wallet at this point. I have other cards that offer more cash back or the same. The only reason I still have them is they have a balance from a trip two trips that we had to take because both my husbands parents passed away with a 3 month period. The other is because it’s my third oldest card and not sure what canceling will do to my account age:

Re: CAP 1 Credit Increase soft pull?

Anonymous — Thu, 21 Feb 2019 00:21:09 GMT

@Anonymous wrote:
I am seriously reconsidering having them in my wallet at this point. I have other cards that offer more cash back or the same. The only reason I still have them is they have a balance from a trip two trips that we had to take because both my husbands parents passed away with a 3 month period. The other is because it’s my third oldest card and not sure what canceling will do to my account age:

Canceling it won’t do anything to your account age for at least 10 years based on current scoring standards.

I keep my Cap card because it’s trusty. I never have to worry about a transaction not going through when I use that card as long as the limit is there. I also don’t have worry about Capital One getting nervous when I use my card. Then there’s the Eno virtual card number benefit for those online transactions that I’m not too sure about.

Capital One has issues but they’re a great reliable card to have in your wallet as a backup to your other cards and I’ll probably never close my QS because of that.

Re: CAP 1 Credit Increase soft pull?

Anonymous — Thu, 21 Feb 2019 00:43:31 GMT

Thank you for your thoughts. It is good to see others people opinions. I would have to agree with the points you make. I got my husband a card for this account and it is always there for trips or when he needed to get tires and I have a decent credit limit.

Re: CAP 1 Credit Increase soft pull?

Anonymous — Thu, 21 Feb 2019 00:51:53 GMT

I think for me a lot of my loyalty to Cap comes from the fact that when I had my BK, I did everything wrong. I had things hit after my BK, including a repo for a reaffirmed car during the BK, and I didn’t get to rebuilding my credit until 3 years and some months after my BK and Cap sent me an offer for an unsecured card. I applied for it not expecting an approval and got a $500 limit which is now $8250.

I have also had two non-fraud disputes with them that they handled perfectly and found in my favor without any fuss and while customer service is foreign, the reps are always as helpful as the system will allow them to be.

Truth be told, I am teetering on the fence when it comes to dropping my new PayPal Cashback to the sock drawer and using my QS for my non-category spend because the PayPal card is a bunch of extra hassle that I don’t have with the QS and I don’t have much non-category spend to make that .5% worth it.

Re: CAP 1 Credit Increase soft pull?

Meanmchine — Thu, 21 Feb 2019 01:14:34 GMT

I would wait until you receive the denial letter.

Then I would mail your complaint giving your name / address/ last 4 ssan / and the reference number from the denial letter. This should be more then enough to identify you. Cap1 recon is the worst

Re: CAP 1 Credit Increase soft pull?

Anonymous — Thu, 21 Feb 2019 05:17:49 GMT

Okay thank you. Then sent me a digital version of the credit increase denial it is in my messages on my account portal.

Re: CAP 1 Credit Increase soft pull?

Anonymous — Thu, 21 Feb 2019 05:18:29 GMT

My paypal mc is a pain and I find only use it spot because it’s easier to sign into PayPal when making online purchases.

Credit card denial reasons

Anonymous — Thu, 21 Feb 2019 05:22:24 GMT

• Based on your credit report from Experian,too few or no revolving accounts are rated as satisfactory
• Based on your credit report from Experian,there are too many new accounts
• Based on your credit report from Experian,length of credit history
• Based on your credit report from Equifax,length of credit history

The last three are self explanatory but the first one stating rated as satisfactory?

Does anyone know what this means? I don’t have any past due accounts, never missed a payment and over half my credit accounts have no balance.

Thoughts? Letter to was from capital one

Re: CAP 1 Credit Increase soft pull?

Meanmchine — Thu, 21 Feb 2019 05:29:12 GMT

@Anonymous wrote:
Okay thank you. Then sent me a digital version of the credit increase denial it is in my messages on my account portal.

Just realized that Cap1s letters do not have Ref#s so enclose a copy of your denial letter instead. Good luck

Re: CAP 1 Credit Increase soft pull?

Anonymous — Thu, 21 Feb 2019 05:37:56 GMT

Thank you!

Re: Credit card denial reasons

FinStar — Thu, 21 Feb 2019 05:38:59 GMT

The risk factor statement is not referring to past due/missed payments or other negative information. Instead, it is likely the result of either a short credit history or a "thin" credit history, or both. Credit scoring systems not only look at whether your accounts are paid on time, but also at the length and depth of your credit history.

So, the top reason is evaluating the context dimension of your profile while the 2 bottom reasons EX/EQ are rating the overal length.

Re: CAP 1 Credit Increase soft pull?

Anonymous — Thu, 21 Feb 2019 22:36:10 GMT

@Anonymous wrote:
It’s not really worth fighting. You initiated a request for additional credit and they’re within their rights to perform a HP for the request. Either send them the documentation requested or just wait for it to drop off. If you dispute it, you’re just risking causing even more problems and they’ll just validate it anyway.

I disagree with you there, if they state it will not affect credit, they are misleading the consumer when they request a credit increase. I have done my credit increases with them and no HP to my profile, other I wouldnt even bother seeking a credit increase. 1 wasted HP to me is worth fighting for

Re: CAP 1 Credit Increase soft pull?

Anonymous — Thu, 21 Feb 2019 22:39:53 GMT

@Anonymous wrote:
@Anonymous wrote:
It’s not really worth fighting. You initiated a request for additional credit and they’re within their rights to perform a HP for the request. Either send them the documentation requested or just wait for it to drop off. If you dispute it, you’re just risking causing even more problems and they’ll just validate it anyway.
I disagree with you there, if they state it will not affect credit, they are misleading the consumer when they request a credit increase. I have done my credit increases with them and no HP to my profile, other I wouldnt even bother seeking a credit increase. I wasted HP to me is worth fighting for

While it’s correct that they are in the wrong here, someone suggested filing a dispute with the credit bureaus which would cause more problems than it would help. Capital One would just validate the inquiry and possible take AA on the account.

Emailing the EO is the correct path to take at this point if sending all of the information requested by snail mail is deemed too risky.

An HP is worth nothing compared to an actual account. I certainly wouldn’t get up in arms about something as minor as a HP that won’t have any scoring impact in a year (and may not have any scoring impact in the present if you have other HPs due to bucketing).