topic Re: Capital One CLI and/or Convert in Credit Cards

Capital One CLI and/or Convert

nycfico — Thu, 18 Feb 2016 18:56:39 GMT

I have two Capital One Cards. I got both of them at different times when my scores were a lot lower than today. One is a secured card that I had put a $200 deposit down to help with my rebuild. About two months ago, they upped my CL to $500 ($200 remaining secured). The other one I have an $800 credit line on.

I have other rebuild type cards (Merrick Bank for $1,000, Credit One for $1,000 and a couple more for $500 and $600.

I carry no balance month to month, my last major late payment was 3.5 years ago. I have an open IRS lien for the past two years that I still need to drop the balance down by $25,000 to get to the fresh start program (balance now is about $50k).

My Fico scores are recently really improving. Right now for Bankcard 8 FICO's, I have 679 EQ, 674 TU and 687 EX. Not spectacular, but so much better than the mid 500's I was in two years ago when I got most of my cards.

Generally speaking, is Cap One known to convert somebody like me at a certain point to another card...I've read hints of that..and/or convert from secured to unsecured? I need a nice $3,000 or $4,000 credit line card to travel and enteratin for work. Expenses are all reimbursable and I won't carry a balance, but $1,000 on a business trip doesn't always go very far and it gets awkward trying to juggle between cards between the time of expense and time of reimbursement. I would love to be able to get a decent card for $3,000 without incurring any inquiries.

Any perspectives?

Re: Capital One CLI and/or Convert

dragontears — Thu, 18 Feb 2016 19:00:48 GMT

@nycfico wrote:
I have two Capital One Cards. I got both of them at different times when my scores were a lot lower than today. One is a secured card that I had put a $200 deposit down to help with my rebuild. About two months ago, they upped my CL to $500 ($200 remaining secured). The other one I have an $800 credit line on.

I have other rebuild type cards (Merrick Bank for $1,000, Credit One for $1,000 and a couple more for $500 and $600.

I carry no balance month to month, my last major late payment was 3.5 years ago. I have an open IRS lien for the past two years that I still need to drop the balance down by $25,000 to get to the fresh start program (balance now is about $50k).

My Fico scores are recently really improving. Right now for Bankcard 8 FICO's, I have 679 EQ, 674 TU and 687 EX. Not spectacular, but so much better than the mid 500's I was in two years ago when I got most of my cards.

Generally speaking, is Cap One known to convert somebody like me at a certain point to another card...I've read hints of that..and/or convert from secured to unsecured? I need a nice $3,000 or $4,000 credit line card to travel and enteratin for work. Expenses are all reimbursable and I won't carry a balance, but $1,000 on a business trip doesn't always go very far and it gets awkward trying to juggle between cards between the time of expense and time of reimbursement. I would love to be able to get a decent card for $3,000 without incurring any inquiries.

Any perspectives?

As of right now Cap1 will not ever convert a secured card into an unsecured card

When was the last time you asked for a CLI on the unsecured card?

Re: Capital One CLI and/or Convert

nycfico — Thu, 18 Feb 2016 19:02:32 GMT

As of right now Cap1 will not ever convert a secured card into an unsecured card

When was the last time you asked for a CLI on the unsecured card?

About 3 or 4 months ago...my scores were a lot lower than (my util was high), and it was denied.

Re: Capital One CLI and/or Convert

dragontears — Thu, 18 Feb 2016 19:06:56 GMT

@nycfico wrote:
As of right now Cap1 will not ever convert a secured card into an unsecured card

When was the last time you asked for a CLI on the unsecured card?
About 3 or 4 months ago...my scores were a lot lower than (my util was high), and it was denied.

Since it is a SP it won't hurt to try now since your scores have improved since your last attempt.

Your scores are not terrible so you may qualify for a new card but I have no experience with having a Tax Lien on my reports so will leave it to others to give advice on what you may qualify for.

Re: Capital One CLI and/or Convert

Anonymous — Thu, 18 Feb 2016 19:12:02 GMT

You can try for a SP CLI again with CapOne coz your scores are not that bad, but I don't have exp with open tax liens. And check their prequalify site if you qualify for Venture or Venture one. CapOne is usually accurate with their prequalify suggestions. Venture usually comes with a good limit.