topic Re: Cap One CLI Joke in Credit Cards

Cap One CLI Joke

Anonymous — Thu, 24 Sep 2020 00:51:14 GMT

So I recently hit my one year mark with my two Cap One Quicksilver cards. Both had a SL of $500 and with their credit steps program was increased to $750 at 5 months. It's been a full year since the card was opened and decided to request a CLI. I was offered a whooping $100 for each card. Is this just a sign of the times and they are being careful due to the economy?

Side note my Discover IT card just gave me $2500 CLI after being opened for a year. SL on that card was $7500.

Re: Cap One CLI Joke

Jnbmom — Thu, 24 Sep 2020 00:55:15 GMT

@Anonymous wrote:
So I recently hit my one year mark with my two Cap One Quicksilver cards. Both had a SL of $500 and with their credit steps program was increased to $750 at 5 months. It's been a full year since the card was opened and decided to request a CLI. I was offered a whooping $100 for each card. Is this just a sign of the times and they are being careful due to the economy?

Side note my Discover IT card just gave me $2500 CLI after being opened for a year. SL on that card was $7500.

@Anonymous

No bucketed cards like these with cap one , 100 CLIs are very common .

Re: Cap One CLI Joke

tnhomestead — Thu, 24 Sep 2020 00:57:05 GMT

Well, I got told I was using the card too much, about 90% utilization. So I paid off went to minimal use and was told you dont need a cli since you dont use the card! So congratulations on getting what you got!

Re: Cap One CLI Joke

AllZero — Thu, 24 Sep 2020 00:58:03 GMT

Congratulations on your CLIs!

Credit Card Asset-Backed Securities (ABS) and why some subprime card never grow or graduate

Re: Cap One CLI Joke

AverageJoesCredit — Thu, 24 Sep 2020 01:50:18 GMT

@Anonymous wrote:
So I recently hit my one year mark with my two Cap One Quicksilver cards. Both had a SL of $500 and with their credit steps program was increased to $750 at 5 months. It's been a full year since the card was opened and decided to request a CLI. I was offered a whooping $100 for each card. Is this just a sign of the times and they are being careful due to the economy?

Side note my Discover IT card just gave me $2500 CLI after being opened for a year. SL on that card was $7500.

Thats a standard Cap One punchline

Re: Cap One CLI Joke

AverageJoesCredit — Thu, 24 Sep 2020 01:51:55 GMT

@tnhomestead wrote:
Well, I got told I was using the card too much, about 90% utilization. So I paid off went to minimal use and was told you dont need a cli since you dont use the card! So congratulations on getting what you got!

Use your cards how you see fit. More usage is always better. Cap One and CLI dont mix

Re: Cap One CLI Joke

blindambition — Thu, 24 Sep 2020 02:06:20 GMT

@Jnbmom wrote:
@Anonymous wrote:
So I recently hit my one year mark with my two Cap One Quicksilver cards. Both had a SL of $500 and with their credit steps program was increased to $750 at 5 months. It's been a full year since the card was opened and decided to request a CLI. I was offered a whooping $100 for each card. Is this just a sign of the times and they are being careful due to the economy?

Side note my Discover IT card just gave me $2500 CLI after being opened for a year. SL on that card was $7500.
@Anonymous

No bucketed cards like these with cap one , 100 CLIs are very common .

+1000000000

Those cards aren't really worth placing much energy into. Just good for age when rebuilding, or just starting.

Re: Cap One CLI Joke

Loquat — Thu, 24 Sep 2020 03:49:58 GMT

You may have outgrown CapOne...or at least the cards you have. Hang on to them for history if you want but I’d start looking towards a flat 2% card that can grow with usage.

Re: Cap One CLI Joke

Anonymous — Thu, 24 Sep 2020 08:37:45 GMT

^^^ this. Pretty sure my recent sizable PenFed PCR approval will be the bullet that ends my $600 QS.

Re: Cap One CLI Joke

BearsCubsOtters — Thu, 24 Sep 2020 13:51:02 GMT

This topic has been brought up for years here. It always makes my head tilt like a confused dog when I see it so often. I would think that this is common knowledge about Capital One; but then I forget that there is always a new freshman class of Capital One cardholders who have yet to learn just how disappointing Capital One can be.

As others have said, Capital One rebuilder cards are "bucketed" meaning there is a ceiling of how far one can go with them before the card will no longer grow/improve.

I used to sing Capital One's praise. I still believe they are the best bank to go to for building or rebuilding credit as they are fair, honest and transparent. However; their business model/practices seem counterintuitive and they (like most banks/companies) have no loyalty. So, when people ask me about Capital One, I ask them where they are in their credit situation. If they have excellent credit, I tell them to run from Capital One. If they are new or rebuilding, I tell people to look into Capital One but I strongly suggest after a few years when their credit has improved that they need to dump Capital One. Capital One rebuilders are like that hot girl in high school that you dated for a few years and then broke up with her after graduation so that you could date other girls in college.

With all the CLDs lately that they have been doing and their frigid rules about PC and other things, I do not recommend them long term. And as someone who had their limit slashed by $5,000 recently, I have a hard time feeling bad for your increase, no matter how small lol.

Re: Cap One CLI Joke

pinkandgrey — Thu, 24 Sep 2020 14:47:31 GMT

Sounds like a classic bucketed card to me. Many people end up just closing them. They served their purpose of helping build your credit, but now you have better options. (Such as that Discover)

Re: Cap One CLI Joke

Loquat — Thu, 24 Sep 2020 15:07:17 GMT

CapOne is great when folks accept them for who they are and stop hoping and praying that they will someday be another Chase, Amex, or even Citi.

They offer a flat no annual fee 1.5% cash back card (that was industry leading at one point). The Venture which is a 2% cash back card with limited redemption and transfer options that comes with a $95 annual fee. Is it great, nope, but again it is what it is.

They are a pretty automated company and that may not be the best for someone looking for a more individualized banking institution.

They extend credit to questionable profiles as well as decline decent profiles...just like any other lender (think Delta Gold with Amex on one hand and any BoA product on the other).

They slash limits just like any other lender when their algorithm no one longer agrees with your profile. Other lenders request tax transcripts and some lenders ask for bank statements or check studs.

Point is, every lender has their ups and down. It’s only emphasized when someone who feels slighted creates a thread about it.

Around here you will find lots of people who has had amazing experiences with a lender and the same amount of folks will have a story about how crappy that same lender is.

Acceptance is the key to peace and harmony in this hobby. To expect otherwise is just setting yourself up for disappointment.

Expecting CapOne to be Amex or Chase by way of products or service is like me expecting my Charger Hellcat to be a Porsche Panamera.

Re: Cap One CLI Joke

Slabenstein — Thu, 24 Sep 2020 16:03:56 GMT

^ +1 My SO and I both opened new cards recently, but with different profiles and at different points in our credit journeys. Cap1 wasn't even on the radar for me, but my SO was looking to open their first cc w/ sl lates holding down their score. They didn't want to do secured or have an AF, so Cap1 Plat was perfect. We're not expecting any significant growth on the card, and it will be replaced when cards w/ more generous limits become open to them, but it's exactly the right card and the right lender for them right now.

Re: Cap One CLI Joke

Anonymous — Thu, 24 Sep 2020 16:23:32 GMT

Congratulations on your CLIs. But I think a bigger congratulations would be in order if you land a better, non-bucketed card, which you probably can pull off.