topic Re: Inaccurate response to CLI from CapOne in Credit Cards

Inaccurate response to CLI from CapOne

PoorPeatree — Wed, 23 Aug 2017 23:45:03 GMT

Hello friends

The longer is hang out here the more i love the myfico forums.

I've had perfect payment record with COne since march 2014 when I got their secured card. my present Fico 8 scores are 665/670/685, not high but not low. Income is $72,800/yr

I have a COne QS card ($6k limit, avg monthly payment is about $900) and I've been trying to get a CLI for a while. I app'd the card in march 2015, was approved for 3k, then I got an increase in june 2016 to 6k. May 30 I asked for CLI via their automated system and I received a response stating that a recent delenquincy existed on my CR from the credit reporting agency. I spoke to several capital one employees in late may and they said my history with COne is pristine, but they can't see any of the data showing a recent derog. I had pulled all three CReports in late may 2017, and they were clear of baddies since 2013. I verified this again on the reports and faxed them all to COne. They later sent me a letter that said the Credit report they have showing a derog was accurate and that I was denied a CLI. confusing.

Move ahead to this month, august. I again applied for CLI, again denied. One of the reasons was recent derog. I don't understand this at all. In july i had my mortgage loan officer verify that there were no derogs, and I checked a few minutes ago and there are no recent derogs since 2013. I spoke to a couple of people at COne again, one of them being a "senior rep" and she talked in circles while I tried to explain that the CRAs had no derogs for me.

Question: Is a "recent delenquency" something that can be as old as 2013? I'm speaking to equifax tomorrow about the report they're sending to COne to see what the COne team may be seeing as recent. I suspect that COne has decided to reduce risk and is flagging me as a danger with any derogs on my record and average high util but is using the statement about "recent delenquency" as a catchall.

Re: Inaccurate response to CLI from CapOne

Anonymous — Thu, 24 Aug 2017 01:26:20 GMT

What was your credit score at the time you were approved for this Cap One product with a $3k SL? It's completely possible that your account is viewed as a starter account and thus will always be viewed that way, meaning that you've hit a ceiling as far as growth goes. For accounts approved with scores around 600, this is quite common with CO.

Re: Inaccurate response to CLI from CapOne

K-in-Boston — Thu, 24 Aug 2017 01:29:38 GMT

Do you happen to have a denial letter from them? (Should be in your online account.) I would double check that they denied you due to information on one of the three primary CBs. There are tons of other credit reporting agencies and sometimes people run into issues with inaccurate information contained on those. Otherwise, "recent" may just mean that it's simply on your reports and it's relative.

Re: Inaccurate response to CLI from CapOne

fltireguy — Thu, 24 Aug 2017 01:32:42 GMT

Time to give them the boot... Give PenFed a shot

Re: Inaccurate response to CLI from CapOne

PoorPeatree — Thu, 24 Aug 2017 02:08:52 GMT

I checked, Equifax was the CRA. I think my scores were around 610-625 when I applied for the secured card in 2014. I've never heard of the low ceiling phenomenon, it seems like I should move on. I'll likely HP a CLI at BoA and elsewhere.

Re: Inaccurate response to CLI from CapOne

DeeBee78 — Thu, 24 Aug 2017 04:08:30 GMT

@PoorPeatree wrote:

I'll likely HP a CLI at BoA and elsewhere.

AFTER you close on your house! We talked about this yesterday

Re: Inaccurate response to CLI from CapOne

Anonymous — Thu, 24 Aug 2017 13:25:43 GMT

@PoorPeatree wrote:
Hello friends

The longer is hang out here the more i love the myfico forums.

I've had perfect payment record with COne since march 2014 when I got their secured card. my present Fico 8 scores are 665/670/685, not high but not low. Income is $72,800/yr

I have a COne QS card ($6k limit, avg monthly payment is about $900) and I've been trying to get a CLI for a while. I app'd the card in march 2015, was approved for 3k, then I got an increase in june 2016 to 6k. May 30 I asked for CLI via their automated system and I received a response stating that a recent delenquincy existed on my CR from the credit reporting agency. I spoke to several capital one employees in late may and they said my history with COne is pristine, but they can't see any of the data showing a recent derog. I had pulled all three CReports in late may 2017, and they were clear of baddies since 2013. I verified this again on the reports and faxed them all to COne. They later sent me a letter that said the Credit report they have showing a derog was accurate and that I was denied a CLI. confusing.

Move ahead to this month, august. I again applied for CLI, again denied. One of the reasons was recent derog. I don't understand this at all. In july i had my mortgage loan officer verify that there were no derogs, and I checked a few minutes ago and there are no recent derogs since 2013. I spoke to a couple of people at COne again, one of them being a "senior rep" and she talked in circles while I tried to explain that the CRAs had no derogs for me.

Question: Is a "recent delenquency" something that can be as old as 2013? I'm speaking to equifax tomorrow about the report they're sending to COne to see what the COne team may be seeing as recent. I suspect that COne has decided to reduce risk and is flagging me as a danger with any derogs on my record and average high util but is using the statement about "recent delenquency" as a catchall.

This same response was given to my husband 2 weeks ago, but he hasn't had any lates since the BK7 2 years ago. This Monday he tried it again and instantly approved. I posted about it and someone told me that the credit card companies can give any number of reasons without explanation (I'm paraphrasing here), but good luck on the issue.

Re: Inaccurate response to CLI from CapOne

Anonymous — Thu, 24 Aug 2017 13:34:29 GMT

Before closing, go to the Capital One Upgrade Link on this forum and see if you can product change your card. Even if it shows you the identical card, take it -- this MIGHT move you from a starter card category to a regular one. There's no way to know.

Secondly, be aware that your credit limit itself may dictate what category you're in. When you started out with a lower credit limit and asked for a CLI, their internal system may look at the lower limit and then ask itself if you're at a FICO score high enough to approve the next higher limit. But once you're at a higher limit, the new query may require an even higher FICO score to get approved for another CLI.

So you may be limited because at your credit limit today, they might internally require "no lates for 5 years" but with your old credit limit, their internal review may just require "no lates for 12 months" or something like that.

Re: Inaccurate response to CLI from CapOne

PoorPeatree — Thu, 24 Aug 2017 23:05:57 GMT

@Anonymous wrote:
Before closing, go to the Capital One Upgrade Link on this forum and see if you can product change your card. Even if it shows you the identical card, take it -- this MIGHT move you from a starter card category to a regular one. There's no way to know.

Secondly, be aware that your credit limit itself may dictate what category you're in. When you started out with a lower credit limit and asked for a CLI, their internal system may look at the lower limit and then ask itself if you're at a FICO score high enough to approve the next higher limit. But once you're at a higher limit, the new query may require an even higher FICO score to get approved for another CLI.

So you may be limited because at your credit limit today, they might internally require "no lates for 5 years" but with your old credit limit, their internal review may just require "no lates for 12 months" or something like that.

Can anyone confirm: I have a QS to QS upgrade option from the link, would this help with my standing at COne? I also have the option to move to a Venture One card. Would it make sense to "upgrade" to a venture one if all I care about with this CCC is max CL? I've read elsewhere that Venture offers higher CLs than QS. It states my CL with the venture one would remain as-is on the QS card, but it seems it would be easier to upgrade to a Venture from venture one. maybe that's too much work for too little benefit.

Also, I spoke to Experian today and they confirmed I have no recent derogs.

Re: Inaccurate response to CLI from CapOne

PoorPeatree — Thu, 24 Aug 2017 23:16:03 GMT

also new info, it seems I pre-qual for a Venture card (both the venture and venture one). Neat!

Re: Inaccurate response to CLI from CapOne

DeeBee78 — Thu, 24 Aug 2017 23:21:07 GMT

@PoorPeatree wrote:
also new info, it seems I pre-qual for a Venture card (both the venture and venture one). Neat!

Congrats! Venture and VentureOne were two cards I recommended to you in the other thread. It's your choice of (potentially) larger starting limit, or a 0% intro offer. Either way with $5K of planned spend, you'll get the signup bonus.

Re: Inaccurate response to CLI from CapOne

PoorPeatree — Thu, 24 Aug 2017 23:52:56 GMT

I called and they don't want to offer me the Venture card as an upgrade. I "upgraded" my QS to a QS (both the higher tier) and I'll let you all know how it turns out. Hopefully I'm not a started account any more.

Re: Inaccurate response to CLI from CapOne

Anonymous — Fri, 25 Aug 2017 00:05:29 GMT

We have no data points on same card "upgrades" but in 6 months please report back if they give you a CLI on the new card.

Congrats on Venture. Way better than Venture One. You can snag that now and in the future combine the limit into your QS card and then close it.

Re: Inaccurate response to CLI from CapOne

PoorPeatree — Fri, 25 Aug 2017 00:28:12 GMT

@Anonymous wrote:
We have no data points on same card "upgrades" but in 6 months please report back if they give you a CLI on the new card.

Congrats on Venture. Way better than Venture One. You can snag that now and in the future combine the limit into your QS card and then close it.

I like exploratory research! I'll definitely update the account data when it moves.

Unpaid state taxes and Capital One Question

PoorPeatree — Fri, 25 Aug 2017 01:10:17 GMT

Hello friends!

Every day I like you all more, I've learned something new with every thread I read, I've read dozens already and I really appreciate everyone's constructive input!

I recently had some neat problems with Capital One denying me a CLI with no recent problems on my credit report. The sole reason for a CLI denial earlier this may was that they reported i had a recent derog (which was false). After much sadness and frustration, I just realized my tax payment to the state had been returned for insufficient funds and I still needed to pay it. I immediately paid it, moments ago. Could unpaid taxes show up in Capital One's credit profiling? I wasn't ever able to get them to say why I had a derog, so that's not confirmed.

thanks for all the input

Re: Unpaid state taxes and Capital One Question

Anonymous — Fri, 25 Aug 2017 01:18:35 GMT

@PoorPeatree

I merged yout recent post into this thread as it deals with same issue and it would confuse others to have two separate threads.

Re: Unpaid state taxes and Capital One Question

PoorPeatree — Fri, 25 Aug 2017 01:25:24 GMT

@Anonymous wrote:
@PoorPeatree

I merged yout recent post into this thread as it deals with same issue and it would confuse others to have two separate threads.

Thank you

Re: Unpaid state taxes and Capital One Question

PoorPeatree — Tue, 29 Aug 2017 08:30:39 GMT

I haven't heard anything on whether state taxes are reported and tracked by CC lenders, can anyone respond?

Re: Unpaid state taxes and Capital One Question

Anonymous — Tue, 29 Aug 2017 09:50:24 GMT

@PoorPeatree wrote:
I haven't heard anything on whether state taxes are reported and tracked by CC lenders, can anyone respond?

Not sure what you're asking. What state taxes are you referring to, income?, sales?. And tracked by CC lenders how or why?

Re: Unpaid state taxes and Capital One Question

DeeBee78 — Tue, 29 Aug 2017 20:57:22 GMT

@PoorPeatree wrote:
I haven't heard anything on whether state taxes are reported and tracked by CC lenders, can anyone respond?

If you're talking about a public record, like a tax lien, then possibly. if it's on your credit reports, they can see it.