topic Re: Denied Quicksilver CLI in Credit Card Applications

Denied Quicksilver CLI

DoctorManhattan — Sun, 10 Nov 2019 14:45:02 GMT

Hey all,

So I applied for a CLI with my quicksilver and got the 2-3 day notice. Just opened the notice on the online documents and they denied my CLI because “my monthly average payment has been too low”. Mind you I pay in full every month.

My CL is $500 and my other cards are higher. I thank Cap1 for approving me in my credit recovery journey, but they should at least make up a better excuse.

Re: Denied Quicksilver CLI

busted2 — Sun, 10 Nov 2019 14:54:10 GMT

They are saying you don't spend enough (hence payment can't help but be too low).

Re: Denied Quicksilver CLI

CreditInspired — Sun, 10 Nov 2019 15:11:09 GMT

Do you PIF on your other CCs? If no, that may be their reasoning. If yes, I would call and ask them to expound on their reason.

Re: Denied Quicksilver CLI

DoctorManhattan — Sun, 10 Nov 2019 15:21:09 GMT

I nearly max it out. I mean it’s only $500.

Re: Denied Quicksilver CLI

DoctorManhattan — Sun, 10 Nov 2019 15:21:49 GMT

Yes sir, just paid $1800 on my Venture One and 800 on my Discover. I pay it right away.

Re: Denied Quicksilver CLI

chiefone4u — Sun, 10 Nov 2019 15:32:37 GMT

Do you PIF before or after statement cuts? (Is your statement printing $495, $5 or $0? Exact not needed).... if your statement is always zero or always $495 the computer is most likely seeing no usage / no payment ($0 statement); or seeing insufficient payments to reduce debt (statement near max).

The above is purely theoretical, but fits with the reason codes I've seen and your denial and explanation.

Re: Denied Quicksilver CLI

DoctorManhattan — Sun, 10 Nov 2019 15:39:17 GMT

Oh okay I see. This may be the issue if it works like that.

Re: Denied Quicksilver CLI

Anonymous — Sun, 10 Nov 2019 15:42:18 GMT

@chiefone4u wrote:
Do you PIF before or after statement cuts? (Is your statement printing $495, $5 or $0? Exact not needed).... if your statement is always zero or always $495 the computer is most likely seeing no usage / no payment ($0 statement); or seeing insufficient payments to reduce debt (statement near max).

The above is purely theoretical, but fits with the reason codes I've seen and your denial and explanation.

The CapOne computer knows how much OP is spending each month. The amount reported doesn't matter.

This is my main problem with CapOne starter cards - low limits that don't grow unless massive spending is put through the card, which in this case would require cycling the limit a couple times a month, all in the hope that one will get a piddly increase of a hundred bucks or so. It's lost on them that although their idea of a business plan is great to them - sell off the subprime debt and the customer can just take another triple pull for a "better" card...which still usually falls short of other lenders' cards available with fewer pulls - most who are credit-savvy see this as ridiculous and just move on. Obviously their customer base is still huge but it seems it could be even bigger if they looked at things another way.

Anyway, sorry to digress - if your card is bucketed, it'll likely never grow much beyond its steps CLI.

Re: Denied Quicksilver CLI

DoctorManhattan — Sun, 10 Nov 2019 16:00:26 GMT

I’ve read on these forums that Cap1 rarely gives increases in starter cards, which is annoying because they will approve you for a card with 10x the limit.

Re: Denied Quicksilver CLI

GApeachy — Sun, 10 Nov 2019 16:35:15 GMT

@Anonymous wrote:
if your card is bucketed, it'll likely never grow much beyond its steps CLI.

That's ^^^^why I closed my bucketed card and got the Savor.

Yes OP, it's darn near impossible working with low limits, but they are there to serve a "step" up purpose. Maybe your Venture One can grow in time, gl! CapOne just turned my cli request down today, and another card last week, and another different card week before last.....they may not be good at handing out cli's to us but they sure nailed the excuses/No's. Why can't ccc's just say when "your card will be eligible" and give guidelines?

Re: Denied Quicksilver CLI

Anonymous — Sun, 10 Nov 2019 18:41:16 GMT

@Anonymous wrote:
@chiefone4u wrote:
Do you PIF before or after statement cuts? (Is your statement printing $495, $5 or $0? Exact not needed).... if your statement is always zero or always $495 the computer is most likely seeing no usage / no payment ($0 statement); or seeing insufficient payments to reduce debt (statement near max).

The above is purely theoretical, but fits with the reason codes I've seen and your denial and explanation.
The CapOne computer knows how much OP is spending each month. The amount reported doesn't matter.

This is my main problem with CapOne starter cards - low limits that don't grow unless massive spending is put through the card, which in this case would require cycling the limit a couple times a month, all in the hope that one will get a piddly increase of a hundred bucks or so. It's lost on them that although their idea of a business plan is great to them - sell off the subprime debt and the customer can just take another triple pull for a "better" card...which still usually falls short of other lenders' cards available with fewer pulls - most who are credit-savvy see this as ridiculous and just move on. Obviously their customer base is still huge but it seems it could be even bigger if they looked at things another way.

Anyway, sorry to digress - if your card is bucketed, it'll likely never grow much beyond its steps CLI.

I am actually not convinced that their system uses any balance and not statement balance. There are some banks that do work like this (Target is a really good example) where people who cut $0 statements never get a CLI. I have seen this complaint of getting this reason for denial from Capital One often enough from people who pay before the statement cuts that it does make me wonder if the reason why starter cards never grow is because people don't let them report. My $300 card grew to $8250 and then got the SD treatment but I never actually paid before the statement cut unless I was paying multiple times a month like I had to do with the $300 limit but it never cut with a $0 balance since I had a roommate who went grocery shopping multiple times a week.

Re: Denied Quicksilver CLI

Anonymous — Sun, 10 Nov 2019 20:29:13 GMT

@Anonymous wrote:
@Anonymous wrote:
@chiefone4u wrote:
Do you PIF before or after statement cuts? (Is your statement printing $495, $5 or $0? Exact not needed).... if your statement is always zero or always $495 the computer is most likely seeing no usage / no payment ($0 statement); or seeing insufficient payments to reduce debt (statement near max).

The above is purely theoretical, but fits with the reason codes I've seen and your denial and explanation.
The CapOne computer knows how much OP is spending each month. The amount reported doesn't matter.

This is my main problem with CapOne starter cards - low limits that don't grow unless massive spending is put through the card, which in this case would require cycling the limit a couple times a month, all in the hope that one will get a piddly increase of a hundred bucks or so. It's lost on them that although their idea of a business plan is great to them - sell off the subprime debt and the customer can just take another triple pull for a "better" card...which still usually falls short of other lenders' cards available with fewer pulls - most who are credit-savvy see this as ridiculous and just move on. Obviously their customer base is still huge but it seems it could be even bigger if they looked at things another way.

Anyway, sorry to digress - if your card is bucketed, it'll likely never grow much beyond its steps CLI.
I am actually not convinced that their system uses any balance and not statement balance. There are some banks that do work like this (Target is a really good example) where people who cut $0 statements never get a CLI. I have seen this complaint of getting this reason for denial from Capital One often enough from people who pay before the statement cuts that it does make me wonder if the reason why starter cards never grow is because people don't let them report. My $300 card grew to $8250 and then got the SD treatment but I never actually paid before the statement cut unless I was paying multiple times a month like I had to do with the $300 limit but it never cut with a $0 balance since I had a roommate who went grocery shopping multiple times a week.

Interesting. On the other hand I've carried a balance on mine almost the whole time I've had it, approaching two years, and I've gotten exactly one increase after the steps, from $500 to $600. My reason codes are usage isn't enough, pAymebts aren't enough, and the like. I suppose it's possible that the hybrid of my experience and yours - use the heck out of it and pay it almost off, month after month - may be the way it takes to get increased.

That being said, I'll likely let mine idle and pursue the better rewards of Amex and Disco in my spending.

Re: Denied Quicksilver CLI

Anonymous — Sun, 10 Nov 2019 21:16:35 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@chiefone4u wrote:
Do you PIF before or after statement cuts? (Is your statement printing $495, $5 or $0? Exact not needed).... if your statement is always zero or always $495 the computer is most likely seeing no usage / no payment ($0 statement); or seeing insufficient payments to reduce debt (statement near max).

The above is purely theoretical, but fits with the reason codes I've seen and your denial and explanation.
The CapOne computer knows how much OP is spending each month. The amount reported doesn't matter.

This is my main problem with CapOne starter cards - low limits that don't grow unless massive spending is put through the card, which in this case would require cycling the limit a couple times a month, all in the hope that one will get a piddly increase of a hundred bucks or so. It's lost on them that although their idea of a business plan is great to them - sell off the subprime debt and the customer can just take another triple pull for a "better" card...which still usually falls short of other lenders' cards available with fewer pulls - most who are credit-savvy see this as ridiculous and just move on. Obviously their customer base is still huge but it seems it could be even bigger if they looked at things another way.

Anyway, sorry to digress - if your card is bucketed, it'll likely never grow much beyond its steps CLI.
I am actually not convinced that their system uses any balance and not statement balance. There are some banks that do work like this (Target is a really good example) where people who cut $0 statements never get a CLI. I have seen this complaint of getting this reason for denial from Capital One often enough from people who pay before the statement cuts that it does make me wonder if the reason why starter cards never grow is because people don't let them report. My $300 card grew to $8250 and then got the SD treatment but I never actually paid before the statement cut unless I was paying multiple times a month like I had to do with the $300 limit but it never cut with a $0 balance since I had a roommate who went grocery shopping multiple times a week.
Interesting. On the other hand I've carried a balance on mine almost the whole time I've had it, approaching two years, and I've gotten exactly one increase after the steps, from $500 to $600. My reason codes are usage isn't enough, pAymebts aren't enough, and the like. I suppose it's possible that the hybrid of my experience and yours - use the heck out of it and pay it almost off, month after month - may be the way it takes to get increased.

That being said, I'll likely let mine idle and pursue the better rewards of Amex and Disco in my spending.

That part is why I think those of us here don't see Capital One cards grow. We get a bunch of other cards and Capital One no longer gets the bulk of our spending. My card undoubtedly grew because from 3/2014 til 11/2017 when I got my Ollo card, all of my credit was with Capital One (my QS and PlayStation cards). When 3/2018 came around, I went for AMEX BCE, Disco IT, and SSFCU cards and got those and then got a $2K CLI from Capital One to $8250 and then it got the SD treatment. I don't even bother asking them for a CLI now that they get a small charge here and there to keep the card alive.

Re: Denied Quicksilver CLI

Anonymous — Sun, 10 Nov 2019 21:31:10 GMT

I agree @Saeren, I remember you describing your card growth on that one, and that kind of highlights what I said before about the CapOne business model. It's very likely they'd capture a lot more market share if they didn't demand practically all of one's spend despite rewards that don't measure up to those other cards, just to hand out a miserly CLI. They want to be seen as a prime issuer with Savor and Venture but they're out of touch. I think many give up on them before reaching scores and profile stats that CapOne wants for those cards, mainly because by then they've moved on to Chase, Amex, Citi, BoA, etc. and the associated, better/bigger rewards and limits offered by those banks.

Re: Denied Quicksilver CLI

GApeachy — Sun, 10 Nov 2019 22:25:07 GMT

@Anonymous wrote:
That part is why I think those of us here don't see Capital One cards grow. We get a bunch of other cards and Capital One no longer gets the bulk of our spending.

_______________________________________________________________________________________________________________________________
Well they kinda ran me off. I was thrilled when I got my Savor, ran heavy, heavy spend through it...received a $500 cli. Dh, nothing on his Venture or QS so yep, a bunch of other cards is what's happening.

DS just got a $1200 auto cli today from capone on his Plat. He needs to pc to QS but idk if he will. He doesn't care. Funny how when you don't care the time speeds by; for me I'm like, "Come ON already!" and start app'ing for bigger limit cards.

Btw, I've thought the same as you and let my cards report high balances and then pif'd and all it got me was score drops. So Idk if it's too late now that I have other cards and CapOne is blah with me but I'll try one last time with heavy usage and then SD.

They are just as confusing as Discover. (to me anyway) GOOD LUCK OP!

Re: Denied Quicksilver CLI

Anonymous — Tue, 12 Nov 2019 01:03:19 GMT

"Bucket Life" is real yo!

Re: Denied Quicksilver CLI

GApeachy — Tue, 12 Nov 2019 01:39:14 GMT

Bucket Heads

Re: Denied Quicksilver CLI

Anonymous — Tue, 12 Nov 2019 06:04:13 GMT

This is why when the QS1 ads start popping up I don't get the warm and fuzzy. I have the Platinum already which I'm almost 100% sure will be square in the bucket category. So are 2 buckets better than 1? QS1 is a sub card as well. Since Cap1 only allows 2 cards at a time I would have to play the PC / wait 6 months game with them. And if that wasnt bad enough I have to relent to a triple HP beatdown to upgrade out of the bucket category with a new app for the QS or Savor. It wouldnt be so bad if they would offer CLI's in the normal and customary ranges.