topic Re: DONE with Cap One in Credit Cards

DONE with Cap One

doredeb — Wed, 10 Jul 2019 01:26:09 GMT

So frustrated with Cap One. My lowest FICO score is 791...and Cap One has again denied a CLI request on my Quicksilver (limit is currently $850). WTH? Never missed a payment on ANY of my credit cards. No baddies. I’m ready to take a temporary hit to my credit score and just cancel the card. Just ridiculous.

Re: DONE with Cap One

ChargedUp — Wed, 10 Jul 2019 01:34:40 GMT

@doredeb wrote:
So frustrated with Cap One. My lowest FICO score is 791...and Cap One has again denied a CLI request on my Quicksilver (limit is currently $850). WTH? Never missed a payment on ANY of my credit cards. No baddies. I’m ready to take a temporary hit to my credit score and just cancel the card. Just ridiculous.

What were your scores when you first applied for the QS? Cap One is known to "bucket" cards that they give when someone is in the building or re-building stage of their credit profile. People used to be able to contact the EO and get somewhat out of the bucket, but that options been dead for a while. You won't lose the credit history on the QS for 10 years even if you do close it, so it might be the time to move on from it.

If you like, try the Cap One pre-qualify page and see what cards come up. If Savor and/or Venture appear, those come with a minimum $5K limit... Or try any pre-qual page. A 791 Fico 8 should get you pretty much any card you want.

Re: DONE with Cap One

Shooting-For-800 — Wed, 10 Jul 2019 01:48:04 GMT

And how much do you spend on your card each month?

And you would probably get a $20k or $30k card if you applied for new card.

Re: DONE with Cap One

Anonymous — Wed, 10 Jul 2019 01:35:32 GMT

I feel your frustration. Mine is only $600 but is my oldest card reporting right now. I have it SD'd since I have since gotten better cards.

Re: DONE with Cap One

doredeb — Wed, 10 Jul 2019 02:10:15 GMT

I had the platinum card that wouldn’t get any higher than a $700 CL...Cap One “offered” to convert it to a Quicksilver. What’s the point of staying with them? My AMEX and Disco have CLs of 8K and 4K, respectively.

Pre-qual page gives me the thumbs-up for both the Savor and Venture.

Re: DONE with Cap One

wasCB14 — Wed, 10 Jul 2019 02:30:07 GMT

With good scores, I'd focus on greener pastures than a 1.5% card.

I like big CLs, but only on cards where I'll spend enough to need them.

Re: DONE with Cap One

ChargedUp — Wed, 10 Jul 2019 02:42:46 GMT

@doredeb wrote:
I had the platinum card that wouldn’t get any higher than a $700 CL...Cap One “offered” to convert it to a Quicksilver. What’s the point of staying with them? My AMEX and Disco have CLs of 8K and 4K, respectively.

Pre-qual page gives me the thumbs-up for both the Savor and Venture.

My scores are in the 740's and I recently did the pre-qual for Savor and got it with a $10K SL. As long as you have the income to support it, you would probably land at least the same SL I did. I'm guessing $15K-$25K with your scores.

Re: DONE with Cap One

AverageJoesCredit — Wed, 10 Jul 2019 03:25:10 GMT

Really no way for anyone to judge your profile based off 1 fico score. You could have 800's and have a super thin file . Yes you could possibly get higher limits on other C1 cards but hard to really say without understanding your profile without more data points. What are your 3 ficos, aaoa, how many cards do you have, spend on your cards etc. Sorry about your stuation with Cap One but could there be factors contributing to it that hasnt been offered?

Re: DONE with Cap One

BrokenBones — Wed, 10 Jul 2019 06:15:39 GMT

Not a believer of being "bucketed." I got my platinum card with a SL of $300 when my score was still in the 500s. It is now at $7400.

Re: DONE with Cap One

Shooting-For-800 — Wed, 10 Jul 2019 10:38:36 GMT

Buckets are real but they bucket the card not the client.

Re: DONE with Cap One

Anonymous — Wed, 10 Jul 2019 11:03:21 GMT

Do you use it enough? I have a platinum with them with a SL of 3500 and CLI to 6000 in just 5 mos. It was my first card for my rebuild so I use it a ton and they, as a result, make a ton off me in interest. I'm now doing a BT though. With your scores an 800 SL is super weird.

Re: DONE with Cap One

SouthJamaica — Wed, 10 Jul 2019 11:50:18 GMT

@doredeb wrote:
So frustrated with Cap One. My lowest FICO score is 791...and Cap One has again denied a CLI request on my Quicksilver (limit is currently $850). WTH? Never missed a payment on ANY of my credit cards. No baddies. I’m ready to take a temporary hit to my credit score and just cancel the card. Just ridiculous.

1. Why would closing the card cause a hit to your credit scores?

2. If it would cause a hit, you could just sock drawer it rather than close it.

Re: DONE with Cap One

Anonymous — Wed, 10 Jul 2019 14:22:09 GMT

@BrokenBones wrote:
Not a believer of being "bucketed." I got my platinum card with a SL of $300 when my score was still in the 500s. It is now at $7400.

I agree with you. It took me 4 years to do it but I got my $300 card to $8250.

The thing is that Capital One wants to be your primary to see that kind of growth and that’s what they were for me because I didn’t prequalify for anything better until March of last year. Needless to say my growth stopped on that card March of last year.

Although they did give me a $10K SavorOne last month. I love Capital One. 🤷‍♂️

Re: DONE with Cap One

pinkandgrey — Wed, 10 Jul 2019 15:18:41 GMT

DO IT. Sounds like a classic bucketed card. If your credit is looking good, you could get a huge SL from a Savor or Venture.

Re: DONE with Cap One

BrokenBones — Thu, 11 Jul 2019 00:47:46 GMT

@Shooting-For-800 wrote:
Buckets are real but they bucket the card not the client.

Bucket the card and not the client? That's the first time I've ever heard anyone say that. What cards get bucketed?

Re: DONE with Cap One

staticvoidmain — Thu, 11 Jul 2019 08:10:02 GMT

I am really confused with buckets. I kinda echo what others are saying.

My Platinum/Quicksilver is my very first card, and it started with an SL of $750. It is now at $9250.

This card has seen a lot of utilization and has been my go-to card until I discovered this forum.

It did start as a Platinum (it still shows "PLATINUM MASTERCARD" on my account to this day).

I kinda like Cap1 as well. I even bank with them primarily (360 Checking/Savings), and I might be the only one who's looking forward to what they would do with the Walmart CC acquisition.

Re: DONE with Cap One

FireMedic1 — Thu, 11 Jul 2019 08:21:32 GMT

@BrokenBones wrote:
@Shooting-For-800 wrote:
Buckets are real but they bucket the card not the client.
Bucket the card and not the client? That's the first time I've ever heard anyone say that. What cards get bucketed?

Plat and QS1 is their bucket cards. But recently with Cap1. They like heavy spend and PIF for getting higher CLI's or any CLI's really. Been there done that and ended up with their top 3 @36k CL.

Re: DONE with Cap One

wasCB14 — Thu, 11 Jul 2019 13:24:02 GMT

There are lower-risk buckets as well as higher-risk ones. The discussion is focused on higher-risk ones because people in lower-risk buckets don't find it a problem so generally don't investigate the details or complain.

Cap1 likes to securitize its CC loans and sell them to investors. Keeping a lower-risk customer's old account in a higher-risk bucket makes the higher-risk tier of accounts not look so bad.

Re: DONE with Cap One

Anonymous — Thu, 11 Jul 2019 15:23:16 GMT

I agree I thought I was in the bucket. Had a secured card(300SL) back in 2012. Got unsecured in 2016 when I decided to pay more the. The minimum. Got upgraded to a Quick Silver one in 2018(July).

In Jan(2019) got a huge CLI, I complained to them for months how I can’t buy even airline tickets with a 300 limit lol

One technique I did when I got quick silver was I ran about at least 3 grand a month through the card with 300 limit.

I did notice for a while they on the denied letters they were pulling data points that were 3 months old and I kept asking them to refresh the points

Btw in Jan they bumped me from 300 to 4850 LOL

Re: DONE with Cap One

Anonymous — Sun, 21 Jul 2019 20:14:27 GMT

My experience is a Cap1 Platinum in the steps program (2001). Started at $250 to $500 to $750 and never increased to the day I closed it in 2009. As has been said, they bucket. In today's market place there are so many good banks and credit unions that will only pull a hard inquiry from one credit bureau and offer a decent credit line ... why take three bureau inquiry hits? Go find a better option and thank Cap1 for giving you a start. Life is too short ...

Follow up, Cap1 has some good cards in Savor, Venture and Quick Silver which can lead to high CLs and benefits. Back when I was with Cap1 those cards were not around and I forgot to mention them. Fortunately, other posters covered the bases