topic Re: CapOne CLI opinion? in Credit Cards

CapOne CLI opinion?

Anonymous — Tue, 14 Mar 2017 08:03:18 GMT

So I opened this card 2/2016 with CL $500 (18th bday), then in about May/June hit the luv button and got to $1500. On 9/15/2016 I got Credit Steps to $2000. For the last few days I've been hitting the button and getting the "change too recent" message. Then today, I paid my card down to $0 (from $1500), and once the payment cleared I decided to try again and got a 2-3 day message.

Any thoughts on what this means? Why I didn't just get the straight deny? Should I try chatting with a rep? Wait it out? Try again on 3/15?

Thanks!!

Re: CapOne CLI opinion?

Anonymous — Tue, 14 Mar 2017 09:56:12 GMT

@Anonymous wrote:
So I opened this card 2/2016 with CL $500 (18th bday), then in about May/June hit the luv button and got to $1500. On 9/15/2016 I got Credit Steps to $2000. For the last few days I've been hitting the button and getting the "change too recent" message. Then today, I paid my card down to $0 (from $1500), and once the payment cleared I decided to try again and got a 2-3 day message.

Any thoughts on what this means? Why I didn't just get the straight deny? Should I try chatting with a rep? Wait it out? Try again on 3/15?

Thanks!!

Hi rkfergus,

after receiving your credit steps increase, you needed to wait 6 months or 180 days for the next increase. March 14 is 180 days from September 15. Sounds like the change too recent may have been because you were trying too early. Now you're getting the 2-3 day message. In my experience, that has been a denial with capital one Others report that it was a denial for them too. But of course YMMV.

Re: CapOne CLI opinion?

UncleB — Tue, 14 Mar 2017 10:01:19 GMT

@Anonymous wrote:
So I opened this card 2/2016 with CL $500 (18th bday), then in about May/June hit the luv button and got to $1500. On 9/15/2016 I got Credit Steps to $2000. For the last few days I've been hitting the button and getting the "change too recent" message. Then today, I paid my card down to $0 (from $1500), and once the payment cleared I decided to try again and got a 2-3 day message.

Any thoughts on what this means? Why I didn't just get the straight deny? Should I try chatting with a rep? Wait it out? Try again on 3/15?

Thanks!!

You're a few days too early... you have to wait six months.

When in doubt, check the dates here: https://www.timeanddate.com/date/dateadd.html, especially when you need to add 90 days for other issuers (since the number of days in a month vary). Since Capital One is six months I would try again tomorrow (or possibly Thursday).

Re: CapOne CLI opinion?

Anonymous — Tue, 14 Mar 2017 11:22:14 GMT

What card do you have through them? Is this your first credit card? That's quite the nice bump in CL gives me hope I might see a similar one soon.

Re: CapOne CLI opinion?

Anonymous — Tue, 14 Mar 2017 14:07:56 GMT

I think you just hit the button too soon.

Keep in mind, this $500 SL card will always be viewed as a "starter" account with CO. There is no changing that; you could have 750+ credit scores a year or three years from now and be stuck back at a $2000-$3000 limit on this account. That's normal and to be expected. Once you outgrow that starter card and you seemingly reach a ceiling with the credit limit (only getting CLI denials) you'll have to look to a different card. If you get another through CO, you'll get approved for a limit that's probably 2X-3X the limit that took you a couple of years to build on that starter card. It's just the way they operate. I was only able to take my $3000 limit card to $4000 with Capital One (two $500 CLIs) because I was approved with a 619 score. My scores are now in the mid-upper 700's but that doesn't matter because since the account was started on less than favorable terms, it will always be viewed as a less than favorable term account.

Re: CapOne CLI opinion?

Anonymous — Tue, 14 Mar 2017 17:40:43 GMT

Thank you everyone!

This is my first credit card, it is the Journey card (College/Student). I also have a CC with USAA, opened with SL $500, bumped to $1500. I also just opened a Marriot card with Chase, SL $5000.

I wasn't expecting to get much from this CLI, hopefully just a bump to $2500/$3000.

Re: CapOne CLI opinion?

Anonymous — Tue, 14 Mar 2017 19:02:13 GMT

Here's how my Journey card has grown. It was also my first card. I never asked for manual CLIs, because at the time I didn't realize I could easily. I had unusually heavy usage from late 2015-16 and was carrying a balance/paying interest from 2016- early 2017.

12/7/2013     Opening Limit:               1000
5/17/2014    Auto CLI:                       2500
5/17/2015    Auto CLI:                      7500
1/17/2016    Auto CLI:                     10,500
12/13/2016   Manual CLI- Instant:    13,500

Re: CapOne CLI opinion?

Anonymous — Tue, 14 Mar 2017 20:57:34 GMT

Interesting growth on a $1000 SL card that doesn't fit the norm with many starter CO accounts. What was your credit score at the time of approval if you happen to remember?

Re: CapOne CLI opinion?

enjoimorenow — Tue, 14 Mar 2017 21:20:19 GMT

@Anonymous wrote:
Interesting growth on a $1000 SL card that doesn't fit the norm with many starter CO accounts. What was your credit score at the time of approval if you happen to remember?

Maybe the cards were able to grow because the Journey is a student card, and therefore it's likely a person had little or possible no credit when they started with the card. Perhaps CapOne looks at that type of account differently than a person with low scores who needs to rebuild, even though they both start at low limits.

Re: CapOne CLI opinion?

Anonymous — Wed, 15 Mar 2017 00:36:01 GMT

No sorry, I don't remember. It's possible what enjoimorenow said is true. The only other credit I had at the time was a car loan I co-signed on with my dad and had been making payments on for about 8 months.

Re: CapOne CLI opinion?

Anonymous — Wed, 15 Mar 2017 02:39:21 GMT

Yeah their 6 month rule is pretty precise. Wait 6 statement cuts or greater than 180 days. I've been using greater than 186 days to be safe. I am not sure if they go by statements or days.

Re: CapOne CLI opinion?

Anonymous — Wed, 15 Mar 2017 08:12:10 GMT

Good luck, OP. It sounds as if the 6 month rule may be at play here, as others have mentioned. It may help as well to take a look at this current thread related to Capital One CLI:

http://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-tightening-up/td-p/4885655