topic Re: Capital One CLI Nightmare (Help Please) in Credit Cards

Capital One CLI Nightmare (Help Please)

Anonymous — Mon, 14 Mar 2016 17:56:30 GMT

Hello,

This is my first time posting and I would appreciated any help. So, I have been stuck at $750 credit limit for over a year and my card is fully paid off. I was also offered an upgrade to the Capital One Quicksilver card last month. My problem is that I requested a CLI about two months ago and received a letter saying I needed to contact them because of a fraud alert. I forgot about it for about a month and re-applied for a CLI and called in to make sure they didn't need anything and kept in constant contact with them for the entire 10 business days until I received the same letter. Today I called in to let them know I received the letter and she stated she needed to verify transactions and then I could re-apply. After verifying the transactions I re-apply for a CLI and get the same response 7-10 business days. I have no idea where to go from here..

Re: Capital One CLI Nightmare (Help Please)

Creditdreamer — Mon, 14 Mar 2016 18:04:39 GMT

Did you look into the fraud alert at all? You'll have to wait to see what the denial reason is on the new letter in 7-10 days. CLIs are not guaranteed and are based on your overall credit profile so it's a your-mileage-may-vary situation.

Re: Capital One CLI Nightmare (Help Please)

Creditdreamer — Mon, 14 Mar 2016 18:08:14 GMT

Also, what kind of spend are you putting on the card monthly? Capital One usually likes to see a lot of spending with PIF.

Re: Capital One CLI Nightmare (Help Please)

Anonymous — Mon, 14 Mar 2016 18:10:51 GMT

Welcome to the forum! Have you gone paperless with Cap 1? If yes, then you should receive the letter under the tab 'Statements & Documents' in a couple of days. Best of luck!

Re: Capital One CLI Nightmare (Help Please)

Anonymous — Mon, 14 Mar 2016 18:10:51 GMT

Does your credit profile look good? No late payments with them, etc? Also, I'm assuming you haven't received the document online yet with the reasoning why. When you receive the letter with the reasoning, you can reach out to the Executive Office for some help.

Re: Capital One CLI Nightmare (Help Please)

Anonymous — Mon, 14 Mar 2016 18:23:58 GMT

All of the aforementioned is good advice. Wait to see what the letter says as it will usually suggest ways to improve so that you may receive a CLI. It could be anything - your monthly payments could be too small, your FICO score may still be low, not putting enough spend on the card, negatives on overall profile, etc. Good luck.

Re: Capital One CLI Nightmare (Help Please)

Anonymous — Mon, 14 Mar 2016 18:46:54 GMT

Never had any lates with them. My profile will look much better in about a month after my PFD's go through. I am hoping my credit history with them is enough to get me some kind of increase. My only worry is that I'll be denied for the same reason. I haven't contacted the credit bureaus because Capital One told me they just needed to verify transactions. I guess I'll wait it out and see if I get the same letter. If I do, I guess my next step is to contact the executive office? Is there a number or email for that?

Re: Capital One CLI Nightmare (Help Please)

ScoreOrBeScored — Mon, 14 Mar 2016 18:49:59 GMT

You may have to wait 3 or 4 months for them to AR you again and then retry

Re: Capital One CLI Nightmare (Help Please)

NRB525 — Mon, 14 Mar 2016 19:06:09 GMT

@Anonymous wrote:
Never had any lates with them. My profile will look much better in about a month after my PFD's go through. I am hoping my credit history with them is enough to get me some kind of increase. My only worry is that I'll be denied for the same reason. I haven't contacted the credit bureaus because Capital One told me they just needed to verify transactions. I guess I'll wait it out and see if I get the same letter. If I do, I guess my next step is to contact the executive office? Is there a number or email for that?

Capital One can be slow with the CLI.

What are your FICO 8 scores, not from Cap One (not FICO 8) but from here, CCT, Discover or some other reliable source (not Credit Karma) ?

How many lates and how recent?

How long have you had this card?

What other CC do you have and for how long?

Definitely check on the fraud alert.