topic Re: Capital One CLI? in Credit Cards

Capital One CLI?

Jayla127 — Wed, 20 Apr 2011 00:56:40 GMT

I have a Capital One credit card which I received last August. They gave me a credit limit of $500.00. Since then, I received an CLI of $250.00. So, the other night I wanted to see what my chances would be and request for another CLI. I was denied because they said I had a returned check. I told the customer service rep. that I've made all payments on time; never late. He told me. "Yes, you are never late with payments but my Jan payment was returned. My payments are due every 28th of the month and I pay it on the 15th of the month. I paid an extra payment that month to bring down my credit balance and the customer service rep took down the wrong bank information even though we went over it twice to make sure she had the correct info. I feel I shouldn't be penalized for someone else's mistake. But, Cap1 will not budge. They told me try again in a couple of months! Is there anything else to do or just leave it along?

Re: Capital One CLI?

JayRizzo — Wed, 20 Apr 2011 02:08:26 GMT

The CSR saw a slip-up on your payment history and used it to mess with your mind as part of his own entertainment. You never had a chance for a customer-initiated CLI with Capital One. That's not their process.

Re: Capital One CLI?

Jayla127 — Wed, 20 Apr 2011 02:13:33 GMT

Thanks for the response!

What is their process? Just jerking people around! Is this a card I should keep to build credit history on my credit report? And, then eventually close out?

Re: Capital One CLI?

DI — Wed, 20 Apr 2011 02:14:06 GMT

Yes, the return payment issue is just a scapegoat. Had the return payment not occured their excuse would have been your account isn't eligible for a line of credit increase.

Re: Capital One CLI?

Jayla127 — Wed, 20 Apr 2011 02:18:06 GMT

Should I keep the card until I build my credit score?

Re: Capital One CLI?

DI — Wed, 20 Apr 2011 02:19:56 GMT

@Jayla127 wrote:
Should I keep the card until I build my credit score?

Absolutely! Is there an annual fee associated with the card?

Re: Capital One CLI?

Jayla127 — Wed, 20 Apr 2011 02:21:52 GMT

Yes, $39.00

Re: Capital One CLI?

BundiFan — Wed, 20 Apr 2011 02:26:06 GMT

Since there is an AF you could cancel it and it would stay on your report for 10 years and help you out on AAoA until it fell off then. On the downside once you do close the card you then lose it limit counting against your total utilization of CC's. If you have other cards without AF's and higher limits then feel free to close it. Just make sure you do it before the AF is due.

Re: Capital One CLI?

DI — Wed, 20 Apr 2011 02:28:02 GMT

@Jayla127 wrote:
Yes, $39.00

Until you get approve for a few prime cards with a decent starting limits, its best that you keep the card open even with the AF. Soon as you get a few prime cards, I'd close the Cap One card if you carry no balance on it. The card will continue to report for 10 years after closure.

Re: Capital One CLI?

Jayla127 — Wed, 20 Apr 2011 03:03:43 GMT

Where can I find a list of prime cards? And, when will I know to apply for one? Do I apply once my credit score reaches 650 and better?

Re: Capital One CLI?

Anonymous — Wed, 20 Apr 2011 11:02:17 GMT

If the check was returned due to a bank error, ask for proof (a letter) from your bank and fax or mail it to Capital One. This might help you. If your check was returned due to your own budgeting error, then you are SOL,doesn't matter if you met the payment due date or not.

Re: Capital One CLI?

Anonymous — Wed, 20 Apr 2011 12:48:24 GMT

@Jayla127 wrote:
Where can I find a list of prime cards? And, when will I know to apply for one? Do I apply once my credit score reaches 650 and better?

There is no list of "prime" cards... "Prime" is in the eye of the beholder. When people here refer to "prime" cards, they simply mean any card that they feel is a worthwhile, non-predatory, and with quality customer service and a reasonable APR, no unwarranted annual fee (I emphasize unwarranted, as many AMEX users feel an AF is justified for the service/perks, etc), and similar features. You will not get an overwhelming consensus from the group as a whole as to which cards qualify for "prime" designation.. but that doesn't matter. It's "prime" if you feel you earned a high quality card that services your needs based on your usage and credit.

Typically, you will see the "big" names thrown in with "prime" discussions (i.e. Citi, BoA, Amex, Discover), but you will also find a number of people with bad deals on these cards, or bad experiences. You will also find a lot of people who consider certain credit union cards as "prime," specifically Navy Federal Credit Union, Pentagon Federal Credit Union, Pennsylvania State Educators Credit Union, etc (though you will also find plenty of people who do not feel these are prime cards, as well, or either [not sure since this is such a horrible run-on sentence]).

So, with your current credit scores, I would say a card with a manageable APR, no AF, and possibly some rewards or good balance transfer offers might be "prime" enough to be a goal.. Then once you get that, maybe one with great rewards will be your goal, and you will consider THAT prime... Then maybe one with a huge credit line and great customer service, and THAT might be prime...

YMMV, but we all wish you the best of luck on your journey!

(And FWIW, 650 these days typically doesn't qualify for the higher ends cards/limits/rewards/etc, but can get you a very good card [or two, or 40] that you can garden until your scores get a bit higher).

Re: Capital One CLI?

Brian_Trying_700 — Fri, 03 Aug 2012 04:16:17 GMT

Capital One. There customer service sucks. None speaking English. &&%. My 2 cents. I am dumping them and Orchard tomorrow. Both cc's have fees to. Good bye. @ jausanka

Well said.