topic Re: CLI with Capital One? in Credit Card Applications

CLI with Capital One?

Anonymous — Sun, 12 Jan 2020 14:04:00 GMT

Is there a trick to getting a credit line increase from capital one? I've had the card for a year and have already gotten one CLI ($500 to$1000). I pay all of my cards off each month have never carried a balance with them. My credit score has also changed significanly from when I applied. I was TU 670, EX 645, and EQ 637. I'm now TU 724, EX 680, and EQ 657. I tried calling them directly in September for a CLI but was denied.

Any thoughts?

Re: CLI with Capital One?

Anonymous — Sun, 12 Jan 2020 14:15:24 GMT

Welcome to the capone bucket; unfortunately you may be 'bucketed' in the low credit line category based on your scores when you were approved. A quick forum search will yield plenty of additional information.

@Anonymous wrote:
Is there a trick to getting a credit line increase from capital one? I've had the card for a year and have already gotten one CLI ($500 to$1000). I pay all of my cards off each month have never carried a balance with them. My credit score has also changed significanly from when I applied. I was TU 670, EX 645, and EQ 637. I'm now TU 724, EX 680, and EQ 657. I tried calling them directly in September for a CLI but was denied.

Any thoughts?

Re: CLI with Capital One?

Anonymous — Sun, 12 Jan 2020 14:17:57 GMT

What are the reasons they are citing in the denial letter?

Re: CLI with Capital One?

Anonymous — Sun, 12 Jan 2020 14:24:40 GMT

I'm sorry, I honestly don't remember what the denial letter said.

Re: CLI with Capital One?

Traveler101 — Sun, 12 Jan 2020 14:34:20 GMT

Go to cap 1 site. Go to faq concerning cli. Take the time to address those issues and you should be just fine. Granted, it may be a high intrest card, but you can get them to grow with average scores and everything else in check. Good luck to you.

Re: CLI with Capital One?

Anonymous — Sun, 12 Jan 2020 14:39:52 GMT

@Anonymous wrote:
Welcome to the capone bucket; unfortunately you may be 'bucketed' in the low credit line category based on your scores when you were approved. A quick forum search will yield plenty of additional information.
@Anonymous wrote:
Is there a trick to getting a credit line increase from capital one? I've had the card for a year and have already gotten one CLI ($500 to$1000). I pay all of my cards off each month have never carried a balance with them. My credit score has also changed significanly from when I applied. I was TU 670, EX 645, and EQ 637. I'm now TU 724, EX 680, and EQ 657. I tried calling them directly in September for a CLI but was denied.

Any thoughts?

I just had to look up what rebucketing is. It sounds like I'm making the right moves based on my credit profile when compared to other similar profiles. When I reach certain credit milestones, (ex: having a 2-5 year credit history or having old late payments drop off) will I be 'rebucketed' and compared to a new set of credit profiles?

Re: CLI with Capital One?

Anonymous — Sun, 12 Jan 2020 14:48:17 GMT

I can't speak to capone policy, but my capone has been at 1100 for over 2 years. I'm presuming that I'm still in the same bucket.. but it was a great rebuilder card for me at the time.

@Anonymous wrote:
@Anonymous wrote:
Welcome to the capone bucket; unfortunately you may be 'bucketed' in the low credit line category based on your scores when you were approved. A quick forum search will yield plenty of additional information.
@Anonymous wrote:
Is there a trick to getting a credit line increase from capital one? I've had the card for a year and have already gotten one CLI ($500 to$1000). I pay all of my cards off each month have never carried a balance with them. My credit score has also changed significanly from when I applied. I was TU 670, EX 645, and EQ 637. I'm now TU 724, EX 680, and EQ 657. I tried calling them directly in September for a CLI but was denied.

Any thoughts?

I just had to look up what rebucketing is. It sounds like I'm making the right moves based on my credit profile when compared to other similar profiles. When I reach certain credit milestones, (ex: having a 2-5 year credit history or having old late payments drop off) will I be 'rebucketed' and compared to a new set of credit profiles?

Re: CLI with Capital One?

Shooting-For-800 — Sun, 12 Jan 2020 16:42:09 GMT

Use the card as much as possible.

Make WEEKLY payments.

If it does not grow, check for prequals from Cap One.

Sometimes you have to open a new card due to being bucketed.

Cards get bucketed - not people.

Your next card could have a SL of $5k-$10k the same day of being denied for CLI.

I got several $10k cards after CLI denials.

I got $30k Venture after being denied for CLI on a $23k card the same week.

Inquiries only matter for a year.

Cap One can be very generous, but you have to jump through their hoops.

GL!

Re: CLI with Capital One?

Anonymous — Sun, 12 Jan 2020 16:53:08 GMT

My personal experience with cap1 cli has been terrible on my quicksilver card, usual denial is insufficient use of current credit line or something along those lines. Weird because they keep sending me offer for the Savor. I would much rather an increase on my current card then take 3 hard pulls and a new account with them, to me cap1 isn’t worth your time unless you’re in a rebuild. Discover, Bank of America, Citi and Amex have been far easier and has extended much larger credit lines for me.

Re: CLI with Capital One?

Anonymous — Sun, 12 Jan 2020 22:12:05 GMT

After my statement cuts tomorrow i'm pressing the button for a CLI on my QS, I know I will get denied but its wishful thinking.

Re: CLI with Capital One?

I_Love_Cards — Sun, 12 Jan 2020 22:44:21 GMT

The good news is that your card has gone from $500 to $1000. That’s generally a sign that you aren’t forever stuck with a $500 card even if your score goes up to 850.

Capital one likes to see a lot of usage. They aren’t typically ones to increase your CL if you aren’t using your card a lot. So make sure you are using your card consistently-for several months in a row-and use it enough to indicate that $1000 isn’t enough. So a $7 Netflix charge or a monthly pizza isn’t going to be enough.

Lastly-they do tend to focus on EQ for credit decisions (but pull everything when you app for a new card). While your EQ score is up, it’s not had the same big gain that you TU has had.

So bottom line is that it looks like your card has the potential to grow. Use it enough to demonstrate you actually need the CLI and keep chipping away at that EQ score and it’ll happen.

Re: CLI with Capital One?

Shooting-For-800 — Mon, 13 Jan 2020 00:46:49 GMT

Let’s not forge5 than many banks require HPs for CLIs.

Cap One does not.

If you are prequaled for Venture (not Venture One), Then your next card (even if not Venture) will most often be at least $5k SL. Mine were $10k, $10k, $30k.

Re: CLI with Capital One?

Anonymous — Mon, 13 Jan 2020 15:40:36 GMT

Goto your "Statements & DOCUMENTS" section. On mobie app, its in the middle of screen under the Account Info section, the next section over should say statements & documents. Click on it and in there should show you all your documents and messages that you received, including all CLI request and denials and reasons.

Also not sure if youre bucketed if you have 1k in CLIs. Cap 1 just doesnt normally give huge clis to non premium cards. Premium as in Savor, Venture, etc... From my years with them, my first card with them only got a few thousands in CLI and I put as much $ through it as my Venture.

CAP 1 needs to see spendings, lots of it. I got an auto CLI because I made HUGE payments on it, 1k+ a month multiple times. If you were to pay off the card, I would do it in huge batches instead of just 1. That triggered 2 auto clis from them.

Re: CLI with Capital One?

Random_idiot — Mon, 13 Jan 2020 16:06:37 GMT

Ive had my Cap one for 8 years with no CLI.

The commenter that talked about the CapOne bucket is right.

Only way to be in a different 'bucket' with them is to apply for a different card with them. Id advise you to ignore and get some other cards where this nonsense doesn't happen.

Re: CLI with Capital One?

texamel — Mon, 10 Feb 2020 23:48:42 GMT

@Anonymous wrote:
Is there a trick to getting a credit line increase from capital one? I've had the card for a year and have already gotten one CLI ($500 to$1000). I pay all of my cards off each month have never carried a balance with them. My credit score has also changed significanly from when I applied. I was TU 670, EX 645, and EQ 637. I'm now TU 724, EX 680, and EQ 657. I tried calling them directly in September for a CLI but was denied.

Any thoughts?

I've had my 2 Capital One cards (one for 18 months and the other for 12 months. My Chapter 7 BK discharge was 2/22/18 which I burned them for $10,000). This is my experience. They only give you an increase every six months. I just got one today for $500 for my platium card which raised my limit to $2150 (card started out at $1,000). I've I've been requesting it for the last month sometimes every day because I couldn't remember when I received my last one. Since I now know the date I've put it on my calendar for 6 months from today to request another increase. After the automatic increases after six months, I've had to request it on the website. There is a place where it says "I want to" and one of the options (it's the last one on my phone) says request a credit line increase. Hope this helps.

Re: CLI with Capital One?

recoveringfrombk7 — Tue, 11 Feb 2020 13:19:44 GMT

@Anonymous wrote:
My personal experience with cap1 cli has been terrible on my quicksilver card, usual denial is insufficient use of current credit line or something along those lines. Weird because they keep sending me offer for the Savor. I would much rather an increase on my current card then take 3 hard pulls and a new account with them, to me cap1 isn’t worth your time unless you’re in a rebuild. Discover, Bank of America, Citi and Amex have been far easier and has extended much larger credit lines for me.

This is why I closed the two cards I had with them and I've moved on. I'm not interested in having to reapply for a card every time I plateau. I get that it works for some people, but a triple hard pull every time I make some progress is not for me. I want cards/lenders that stick with me through the rebuilding process and then when my BK drops off and my scores take off is ready to work with me on my now almost 10 year old cards, as opposed to now needing to get all new cards at that point. Just my personal preference.