topic Re: Capital One - CLI? in Credit Cards

Capital One - CLI?

MBOhio2 — Sun, 20 Feb 2011 15:31:51 GMT

I have a Capital One CC that only has a $750 limit. For the last 4 years since I got the card, it's been maxed out (finishing school, some unemployment, etc). However, it was never paid late. I just paid the card off in full so the balance is now $0. However, my overall credit is still rough because of 1) a handful of student loan charge-offs and 2) high util % overall (still working on that!). My credit scores are in the mid-500s.

Anyway, here's the question - what is the liklihood that Capital One will increase my credit limit? Is it likely that they'll see the card is now paid off and therefore, increase the credit limit on their own? Or, if not, and I need to actually request a CLI, how likely is it that it would be approved based on what I've described above?

Re: Capital One - CLI?

visorboy1974 — Sun, 20 Feb 2011 16:17:35 GMT

From what I understand and have seen firsthand, Capital One will not give you a customer initiated CLI.

I have two cards from them...one started out at $1500 (2007) and the other one at $750 (2008). The $750 one was increased to $3000 after about 6 months. About 2 weeks after that, the financial crisis began. I have yet to receive any love since then, auto CLI or customer initiated.

Re: Capital One - CLI?

MBOhio2 — Sun, 20 Feb 2011 16:47:13 GMT

visorboy - thanks for the information. Sounds like I need to just be patient and hope they give me a CLI after time with a low balance and continue to improve my credit score.

Re: Capital One - CLI?

vish1 — Sun, 20 Feb 2011 17:43:00 GMT

@MBOhio2 wrote:
I have a Capital One CC that only has a $750 limit. For the last 4 years since I got the card, it's been maxed out (finishing school, some unemployment, etc). However, it was never paid late. I just paid the card off in full so the balance is now $0. However, my overall credit is still rough because of 1) a handful of student loan charge-offs and 2) high util % overall (still working on that!). My credit scores are in the mid-500s.

Anyway, here's the question - what is the liklihood that Capital One will increase my credit limit? Is it likely that they'll see the card is now paid off and therefore, increase the credit limit on their own? Or, if not, and I need to actually request a CLI, how likely is it that it would be approved based on what I've described above?

When you checked your scores, had your 0 balance posted or you checked before the balance could post. In any case, I will suggest, letting a small balance say 10 post and then check your scores. They may be way higher that what you see now. Remember util is abt 35% of your score and absolute 0 is no good either (I am assuming this is your only credit account)

Re: Capital One - CLI?

Smug — Sun, 20 Feb 2011 19:35:06 GMT

My 6 month old card went from300 to 1300 today.

Re: Capital One - CLI?

JayRizzo — Sun, 20 Feb 2011 20:31:24 GMT

Wooooo!!! U GO, SMUG!!! I know u did both the Song & Dance already.... "oooow! I feel Gooood! (Da, da, Da, da, Da, da, Dum) I knew that I would". Congratulations!!! Now, I'll move over and be YOUR Cap-1 side-kick -- you're the lead!!!

Re: Capital One - CLI?

Anonymous — Mon, 21 Feb 2011 01:09:00 GMT

30%, actually. Payment history is 35%.

vish1 wrote:

MBOhio2 wrote:
I have a Capital One CC that only has a $750 limit. For the last 4 years since I got the card, it's been maxed out (finishing school, some unemployment, etc). However, it was never paid late. I just paid the card off in full so the balance is now $0. However, my overall credit is still rough because of 1) a handful of student loan charge-offs and 2) high util % overall (still working on that!). My credit scores are in the mid-500s.

Anyway, here's the question - what is the liklihood that Capital One will increase my credit limit? Is it likely that they'll see the card is now paid off and therefore, increase the credit limit on their own? Or, if not, and I need to actually request a CLI, how likely is it that it would be approved based on what I've described above?
When you checked your scores, had your 0 balance posted or you checked before the balance could post. In any case, I will suggest, letting a small balance say 10 post and then check your scores. They may be way higher that what you see now. Remember util is abt 35% of your score and absolute 0 is no good either (I am assuming this is your only credit account)

Re: Capital One - CLI?

DI — Mon, 21 Feb 2011 01:11:39 GMT

I'm glad I fired Capital One!! To me all of its cards and the Capital One brand is subprime.

Re: Capital One - CLI?

vish1 — Mon, 21 Feb 2011 01:20:13 GMT

@Anonymous wrote:
30%, actually. Payment history is 35%.

@vish1 wrote:

@MBOhio2 wrote:
I have a Capital One CC that only has a $750 limit. For the last 4 years since I got the card, it's been maxed out (finishing school, some unemployment, etc). However, it was never paid late. I just paid the card off in full so the balance is now $0. However, my overall credit is still rough because of 1) a handful of student loan charge-offs and 2) high util % overall (still working on that!). My credit scores are in the mid-500s.

Anyway, here's the question - what is the liklihood that Capital One will increase my credit limit? Is it likely that they'll see the card is now paid off and therefore, increase the credit limit on their own? Or, if not, and I need to actually request a CLI, how likely is it that it would be approved based on what I've described above?
When you checked your scores, had your 0 balance posted or you checked before the balance could post. In any case, I will suggest, letting a small balance say 10 post and then check your scores. They may be way higher that what you see now. Remember util is abt 35% of your score and absolute 0 is no good either (I am assuming this is your only credit account)

You got it right. My bad

Re: Capital One - CLI?

visorboy1974 — Mon, 21 Feb 2011 01:26:33 GMT

@DI wrote:
I'm glad I fired Capital One!! To me all of its cards and the Capital One brand is subprime.

They actually have one of the better subprime programs out there with the credit steps program. Definitely much better than HSBC and First Premier. The only thing that I think stinks about them is the fact that you can't graduate to a rewards card from a subprime card without another application. Their prime offerings aren't bad...a little high on the interest rate, but not bad.

Re: Capital One - CLI?

Anonymous — Mon, 21 Feb 2011 03:04:55 GMT

@visorboy1974 wrote:

@DI wrote:
I'm glad I fired Capital One!! To me all of its cards and the Capital One brand is subprime.
They actually have one of the better subprime programs out there with the credit steps program. Definitely much better than HSBC and First Premier. The only thing that I think stinks about them is the fact that you can't graduate to a rewards card from a subprime card without another application. Their prime offerings aren't bad...a little high on the interest rate, but not bad.
@visorboy1974 wrote:

@DI wrote:
I'm glad I fired Capital One!! To me all of its cards and the Capital One brand is subprime.
They actually have one of the better subprime programs out there with the credit steps program. Definitely much better than HSBC and First Premier. The only thing that I think stinks about them is the fact that you can't graduate to a rewards card from a subprime card without another application. Their prime offerings aren't bad...a little high on the interest rate, but not bad.

I started with secured 300 cl. Now over 5000cl, nonsecured
cash rewards card

I got this by calling back door number They did go up
on interest rate however..

Re: Capital One - CLI?

Anonymous — Mon, 21 Feb 2011 05:04:31 GMT

@Smug wrote:
My 6 month old card went from300 to 1300 today.

Wow!!! Congrats on that! Were you in credit steps? If so, do you know if they just decided to bump you up past the CS amount? Way to go!!!!!

Re: Capital One - CLI?

Anonymous — Mon, 21 Feb 2011 05:06:58 GMT

@JayRizzo wrote:
Wooooo!!! U GO, SMUG!!! I know u did both the Song & Dance already.... "oooow! I feel Gooood! (Da, da, Da, da, Da, da, Dum) I knew that I would". Congratulations!!! Now, I'll move over and be YOUR Cap-1 side-kick -- you're the lead!!!

Hey... I thought that WE were Cap1 board buddies! Suddenly I'm feeling so abandonded...

Re: Capital One - CLI?

Smug — Mon, 21 Feb 2011 05:12:43 GMT

MIne was a surprise I bought a net book and wanted to make sure I had enough on it, looked and saw the increase, I also have a second one a month younger hope it increases soon.Both are in the steps program.

Re: Capital One - CLI?

Anonymous — Mon, 21 Feb 2011 05:18:00 GMT

That's very encouraging. My card is 4 months old and has an excellent history so far. Lots of activity with frequent payments, which have kept me well under my CL. I'd really be very happy if it goes up over the 750 that it's supposed to step up to after 5 months. I'm not supposed to see an increase until the 7th statement cuts. I'll keep my fingers crossed.

Re: Capital One - CLI?

JasonBourneOfCredit — Tue, 22 Feb 2011 01:53:41 GMT

Whats the thought process behind the CLI? If you've stayed on top of it (no lates) they want to extend more credit to you in hopes you'll buy more and pay them in interest?

Just curious here.

I have a Cap 1 card. Got it in November. It hasnt had a lot of activity but I'm paying down a couple large purchases from X-mas. What will it take for them to give me a huge increase? Lots of use and paying it off?

thanks. I know, 5 questions. Sry

Re: Capital One - CLI?

Anonymous — Tue, 22 Feb 2011 14:44:09 GMT

It would take Capital One changing their policies. And a deep freeze in hell. Some snowballs make it through, though.