topic Re: Capital One Credit Limit Increase in Credit Cards

Capital One Credit Limit Increase

Anonymous — Wed, 30 Mar 2011 15:03:12 GMT

This is my first post in this forum. I have a question about Capital One. My credit scores are as follows TU 757, EQ 788, EX 799. I have had 2 Capital One Credit Cards for 5 years. Today I called them up to 1) lower my APR and 2) increase my credit limit. I have other credit cards with much higher limits. Here is the response I got. Yes, they would lower my APR from 17.9% to 11.9%, BUT only for 7 months. I suppose I will have to call them every 7 months. I don't really carry a balance on these cards anyway, so I guess it doesn't really matter. As to my request for a credit limit increase, they unfortunately were not able to do that at this point in time. A response will be mailed to me within the next 30 days. I don't understand. How good does my credit have to be in order to get a credit limit increase from them. I don't really want to cancel the cards. I just want to understand why. Has anybody experienced something like this with Capital One?

Re: Capital One Credit Limit Increase

laz98 — Wed, 30 Mar 2011 15:09:30 GMT

if those are accurate scores, then none of us have a chance! where did you get them from? EX FICO scores are almost impossible to come by.

Re: Capital One Credit Limit Increase

JayRizzo — Wed, 30 Mar 2011 15:11:39 GMT

This topic has been buzzing the forum for quite some time over the past 6 months that I'm aware.

Capital One does not approve customer-initiated increases. We just have to sit tight and wait for their system to randomly / periodically review our accounts for such an event. There's no rhyme or reason how or when this happens.

Re: Capital One Credit Limit Increase

MarineVietVet — Wed, 30 Mar 2011 15:11:39 GMT

@Anonymous wrote:
This is my first post in this forum. I have a question about Capital One. My credit scores are as follows TU 757, EQ 788, EX 799. I have had 2 Capital One Credit Cards for 5 years. Today I called them up to 1) lower my APR and 2) increase my credit limit. I have other credit cards with much higher limits. Here is the response I got. Yes, they would lower my APR from 17.9% to 11.9%, BUT only for 7 months. I suppose I will have to call them every 7 months. I don't really carry a balance on these cards anyway, so I guess it doesn't really matter. As to my request for a credit limit increase, they unfortunately were not able to do that at this point in time. A response will be mailed to me within the next 30 days. I don't understand. How good does my credit have to be in order to get a credit limit increase from them. I don't really want to cancel the cards. I just want to understand why. Has anybody experienced something like this with Capital One?

Welcome to myFICO.

You are not alone with that CLI denial. With only a few rare exceptions Cap 1 simply is not giving customer initiated CLI's and hasn't for a long time.

Also may I ask where you got your scores? As far as I know there is no place that sells all 3 FICO scores together.

No one has been able to buy their own Experian FICO score since February of 2009. Creditors can pull Experian and also there is a CU (PSECU) in Pennsylvania that supplies that information to it's members only. You can only buy true FICO scores at a few places. One place is here at myFICO. I suggest you do an internet search for "myfico discount codes" to save a little money.

At one time you could also purchase your Transunion score at transunioncs.com but that site seems to have stopped doing that. Equifax will still sell you a FICO score but you have to look very hard to find it.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: Capital One Credit Limit Increase

Anonymous — Wed, 30 Mar 2011 15:36:31 GMT

Welcome to myFICO.

You are not alone with that CLI denial. With only a few rare exceptions Cap 1 simply is not giving customer initiated CLI's and hasn't for a long time.

Also may I ask where you got your scores? As far as I know there is no place that sells all 3 FICO scores together.

No one has been able to buy their own Experian FICO score since February of 2009. Creditors can pull Experian and also there is a CU (PSECU) in Pennsylvania that supplies that information to it's members only. You can only buy true FICO scores at a few places. One place is here at myFICO. I suggest you do an internet search for "myfico discount codes" to save a little money.

At one time you could also purchase your Transunion score at transunioncs.com but that site seems to have stopped doing that. Equifax will still sell you a FICO score but you have to look very hard to find it.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Sorry to intervie, but you can get all 3 for free from the US government at https://www.annualcreditreport.com/cra/index.jsp

Re: Capital One Credit Limit Increase

MarineVietVet — Wed, 30 Mar 2011 15:42:12 GMT

@Anonymous wrote:

Sorry to intervie, but you can get all 3 for free from the US government at https://www.annualcreditreport.com/cra/index.jsp

You can get all 3 credit reports at that site but if you go through the links from there to buy a score you will not be buying FICO scores. Except perhaps at the Equifax website but you really have to look hard to find an EQ FICO from equifax.com now.

If you link to Transunion from annualcreditreport.com you will be sold a VantageScore and if you link to Experian you'll be sold a "Plus" score and neither is a FICO score.

Re: Capital One Credit Limit Increase

Anonymous — Wed, 30 Mar 2011 17:14:30 GMT

You can buy all three scores from Experian.

Ex is a plus score but EQ and TU are same as Fico.

It seems to be impossible to get cli from Cap One.

It's been over two years for me. Been with them

since '02.

Re: Capital One Credit Limit Increase

JayRizzo — Wed, 30 Mar 2011 17:12:39 GMT

Those are not true FICO scores which is what I think they're trying or need to get... the real deal.

Re: Capital One Credit Limit Increase

MarineVietVet — Wed, 30 Mar 2011 17:24:14 GMT

@Anonymous wrote:
You can buy all three scores from Experian.

Ex is a plus score but EQ and TU are same as Fico.

It seems to be impossible to get cli from Cap One.
It's been over two years for me. Been with them
since '02.

I wish it were so but you cannot buy any FICO scores from the Experian website.

This is copied from the website:

PLUS SCORE®
Products and credit resources on the Product Websites utilize the PLUS Score®. The PLUS Score®, developed by Experian, and the different risk levels presented by it, are for educational use only. The PLUS Score® is not currently sold to lenders, and is not an endorsement or guarantee of your credit worthiness as seen by lenders.

Re: Capital One Credit Limit Increase

Anonymous — Wed, 30 Mar 2011 17:47:10 GMT

I use EX for my monitor

and hit the wrong button one day

and they gave me all three scores.EQ and TU were

the exact numbers I get from FICO.

I really am sick of you always disagreeing with me.

I can remember when we had nice

Mods.

Just because you don't agree does not make it so.

Re: Capital One Credit Limit Increase

MarineVietVet — Wed, 30 Mar 2011 22:11:22 GMT

@Anonymous wrote:
I use EX for my monitor
and hit the wrong button one day
and they gave me all three scores.EQ and TU were
the exact numbers I get from FICO.

I really am sick of you always disagreeing with me.
I can remember when we had nice
Mods.

Just because you don't agree does not make it so.

If those scores were the same as myFIco it was purely coincidence. If you will go to the EX website you will see that they do not sell FICO scores. If you can find a link at EX that talks about them selling FICO scores and not just Plus scores or VantageScores please post it and I will have no problem whatsoever with publicly apologizing.

No one has all the answers including me but I can't let information that I believe to be incorrect to be posted without saying something. That would not be fair to everyone else. Posting accurate information is more important than whether any of us agree or not. I expect and also hope to be corrected anytime I say something that is factually wrong

I am truly sorry if not agreeing with you is upsetting. Lots of folks disagree with me all the time but I don't take it personally. I don't consider someone who disagrees with me as not being nice. They are just expressing an opinion.

If you think I've ever been less than respectful while expressing my views then I am sorry for that. I try to be respectful to everyone. You always have the option (as does everyone else) to notify the administrator of this site at any time when anyone (including moderators) has written or acted in a way that is uncalled for or inappropriate.

Edited for a typo. (Again)

Re: Capital One Credit Limit Increase

Anonymous — Wed, 30 Mar 2011 18:41:42 GMT

Just to clarify I purchased my scores TU and EQ scores from myfico.com. The Experian score I purchased from their website. I understand that Experian uses a different scoring model, but even though I can't directly compare them to the other two, I still wanted to know what the score was. I don't understand Capital One's policy. I had no trouble doubling the credit limit from one of my other credit cards a few month ago.

Re: Capital One Credit Limit Increase

MarineVietVet — Wed, 30 Mar 2011 18:46:56 GMT

@Anonymous wrote:
Just to clarify I purchased my scores TU and EQ scores from myfico.com. The Experian score I purchased from their website. I understand that Experian uses a different scoring model, but even though I can't directly compare them to the other two, I still wanted to know what the score was. I don't understand Capital One's policy. I had no trouble doubling the credit limit from one of my other credit cards a few month ago.

Neither does anyone else.

My Cap 1 account is my oldest at just over 13 years and I can't recall the last time I got a CLI (if ever).

Re: Capital One Credit Limit Increase

spankyspanky — Thu, 31 Mar 2011 14:02:54 GMT

FWIW, Just had a capital one automatic increase from $800 CL to $4800 without asking. I've had that capital one card for five-six years and Always kept around $150 revolving balance on it.

Re: Capital One Credit Limit Increase

spankyspanky — Thu, 31 Mar 2011 14:07:21 GMT

Wanted to correct the post I just made.

On my capital one visa platinum, I went from $800 CL to $4500 CL. And I just noticed that my Platinum Mastercard has now went from $500 up to $1250!!!

I also just received an increase from HSBC on my best buy rewardzone card. From $500 to $900.

Re: Capital One Credit Limit Increase

MYBEST — Thu, 31 Mar 2011 15:08:55 GMT

Hi, how long did you have the HSBC best buy rewardzone card before they gave you a Cli ?

Re: Capital One Credit Limit Increase

JayRizzo — Thu, 31 Mar 2011 15:41:59 GMT

Most new forum members are on a tighter budget and are weighing the pros and cons of carrying a balance from month-to-month with ANY credit card. Me personally, cannot see myself carrying over $150 for 3+ years including any other fees associated (AF or otherwise). I don't believe they feel that benefit of finally being increased because they'll never run the tab up to $4800 just because they have it available. Most are watching their utilization now.

Just my thoughts.

Re: Capital One Credit Limit Increase

Anonymous — Thu, 31 Mar 2011 17:49:40 GMT

@MarineVietVet wrote:
@Anonymous wrote:
I use EX for my monitor
and hit the wrong button one day
and they gave me all three scores.EQ and TU were
the exact numbers I get from FICO.

I really am sick of you always disagreeing with me.
I can remember when we had nice
Mods.

Just because you don't agree does not make it so.
If those scores were the same as myFIco it was purely coincidence. If you will go to the EX website you will see that they do not sell FICO scores. If you can find a link at EX that talks about them selling FICO scores and not just Plus scores or VantageScores please post it and I will have no problem whatsoever with publicly apologizing.

No one has all the answers including me but I can't let information that I believe to be incorrect to be posted without saying something. That would not be fair to everyone else. Posting accurate information is more important than whether any of us agree or not. I expect and also hope to be corrected anytime I say something that is factually wrong

I am truly sorry if not agreeing with you is upsetting. Lots of folks disagree with me all the time but I don't take it personally. I don't consider someone who disagrees with me as not being nice. They are just expressing an opinion.

If you think I've ever been less than respectful while expressing my views then I am sorry for that. I try to be respectful to everyone. You always have the option (as does everyone else) to notify the administrator of this site at any time when anyone (including moderators) has written or acted in a way that is uncalled for or inappropriate.

Edited for a typo. (Again)

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

I spend 40.00 monthly for EQ and TU. Maybe I'm too

STOOPID to be on this site.

Re: Capital One Credit Limit Increase

creditguy-378 — Thu, 31 Mar 2011 18:26:24 GMT

experian does not sell fico scores to us they will only sell them to business I have experian monorting (as well as eq and tu from myfico) and depending what product you bought from experian it's either a plus score witch goes up to 830 or the vantage score witch goes up to 990 from my experiance they use to give me the plus score now in add. to the plus score i get monthly I get the vantage score for free quarterly but most of the newer products from them only give you the vantage so a score in the high 700's is average on the vantage scale and also from my experience from cap one when I get a cli they only pull my ex

Re: Capital One Credit Limit Increase

Anonymous — Thu, 31 Mar 2011 18:44:00 GMT

well I hit the wrong button which is how I

got all three. It was either 29 or 39 dollars.

I had to call them and explain to get my money

back. I was just trying to get the freebie.

Thanks for your input. I can't handle all

this superiority at my age.