topic Re: Cap One Platinum MC Auto CLI ! in Credit Cards

Cap One Platinum MC Auto CLI !

KBraggs — Tue, 15 Nov 2011 11:39:47 GMT

Just wanted to report my experience with everyone since I know there is such widespread variation with folks and this card.

Opened in Novemeber 10, got the credit steps letter, started at 300. Went to 500 after 3 months, 750 3months thereafter. My statement cut earlier last week showing my $750 CL as expected. However, when I checked my balance this morning my credit limit had been increased to $1250. Great start to the morning!

Background on my credit profile in case youre interested, 650EQ, 667TU Fico scores, I have a chargeoff and collection from 2008 which is always reporting stupid stuff making my score fluctuate quite regularly. Besides the string of missed payments from the chargeoff, I have never missed a payment on any of my accounts prior to nor since but of course it still weighs heavily on my rating.

I am rebuilding and in no immediate need for new credit, so I definitely use the cards I have very heavily but pay them down aggressively avoiding interest. As such my util is generally high, but I'll worry about my util when I get closer to applying for anything new i.e CCs (pink slip is mine, not getting a house or anything soon, I'm young). I'm all about payment history, and it's been spotless since my slip ups. I hope my story gives hope to some people who I know are stuck!

Re: Cap One Platinum MC Auto CLI !

Anonymous — Tue, 15 Nov 2011 12:36:08 GMT

Congrats to you. I had the same experience recently and my card limit was also increased. I've found Capital One to be very good about CLI if you show them you pay your bills on time. They especially like to see it when you can pay in full every month. Keep up the good work!

Re: Cap One Platinum MC Auto CLI !

CS800 — Tue, 15 Nov 2011 14:43:54 GMT

@Anonymous wrote:
Congrats to you. I had the same experience recently and my card limit was also increased. I've found Capital One to be very good about CLI if you show them you pay your bills on time. They especially like to see it when you can pay in full every month. Keep up the good work!

I only wish a lot of us could say the same when it comes to CLI from Cap One. But lately they have been good with CLI. You will find a lot of members on here with great FICO's and very low CL with Cap One.

I have stayed at $500 for the past 3.8 years; that's with a flwless payment histry, low util and a FICO that has gone up by an average of 150 since last year

Re: Cap One Platinum MC Auto CLI !

Anonymous — Tue, 15 Nov 2011 19:40:03 GMT

I just got an email from Capital One and was SOOOOOO excited because I thought it was to let me know that there's a document waiting for me....

nope just a stupid solicitation email wanting me to sign up for their savings account

STOP TOYING WITH MY EMOTIONS CAPITAL ONE!!!!

Re: Cap One Platinum MC Auto CLI !

Anonymous — Tue, 15 Nov 2011 19:48:38 GMT

@Anonymous wrote:
Congrats to you. I had the same experience recently and my card limit was also increased. I've found Capital One to be very good about CLI if you show them you pay your bills on time. They especially like to see it when you can pay in full every month. Keep up the good work!

I have to disagree. I've tried paying in full, nothing. i tried carrying a balance to let them get interest charges, nothing. Still at the same single credit step bump that I was on originally. In the case of Cap1, it's definitely YMMV. From all the posts I've seen here, there seems to be absolutely NO rhyme or reason behind their sudden CLIs.

Re: Cap One Platinum MC Auto CLI !

bichonmom — Tue, 15 Nov 2011 19:48:54 GMT

When you say "November 10," I'm assuming you meant 1 year ago?

Congratulations! Consider yourself one of the lucky ones. Your post says that you carry a balance. I'm beginning to think that that's what they're looking for. My CU loan/CC dept. told me that Cap One will give you CLIs up the kazoo if you carry a balance, because they want to make money off of us.

I'm still in the zero-interest time period, so I'm going to experiment and carry a balance until the 0% ends, and see if they give me a CLI.

When I called today, they got me all excited, telling me that I was eligible for an upgrade. Yeah, right. What I was "eligible" for, was to *APPLY* for a rewards card. BFD. *ANYONE* can APPLY! He claimed that I'd have a better chance of being approved, but would still take 3 hard hits to all 3 CR. No way. Thanks anyway, Cap one.

Re: Cap One Platinum MC Auto CLI !

Anonymous — Tue, 15 Nov 2011 19:52:16 GMT

@bichonmom wrote:
When you say "November 10," I'm assuming you meant 1 year ago?

Congratulations! Consider yourself one of the lucky ones. Your post says that you carry a balance. I'm beginning to think that that's what they're looking for. My CU loan/CC dept. told me that Cap One will give you CLIs up the kazoo if you carry a balance, because they want to make money off of us.

I'm still in the zero-interest time period, so I'm going to experiment and carry a balance until the 0% ends, and see if they give me a CLI.

When I called today, they got me all excited, telling me that I was eligible for an upgrade. Yeah, right. What I was "eligible" for, was to *APPLY* for a rewards card. BFD. *ANYONE* can APPLY! He claimed that I'd have a better chance of being approved, but would still take 3 hard hits to all 3 CR. No way. Thanks anyway, Cap one.

I feel your pain. I would be happy with a $50 CLI at this point but there seems to be no rhyme or reason.

Re: Cap One Platinum MC Auto CLI !

drsmith — Tue, 15 Nov 2011 20:03:56 GMT

Congrats

I've been stuck at $750 since 2008. I've sinced dump CrapOne. AmEx and USAA have given me 7k each, and BoA gave me 5k. It made me very upset that I had to open a new credit card just to buy a plane ticket.

Re: Cap One Platinum MC Auto CLI !

Anonymous — Tue, 15 Nov 2011 22:06:47 GMT

I got my cap one card in 2007 started with 300 went to 500 a year later and 1.5 years later they just raised it to 1500 same thing with my wifes card she got hers a month after mine and she got her cli one month after i had gotten mine.

Re: Cap One Platinum MC Auto CLI !

PNut08 — Tue, 15 Nov 2011 22:23:53 GMT

I've had a Cap1 platinum MC for 1.5 years and I've had the same $500 CL the entire time. I've tried carrying a balance and I've tried PIF every month to no avail. Meanwhile, I have a BofA Amex rewards card with a 9500 CL on it, Discover with 4000 CL and various retail cards backed by Citi, WFNNB each with 2000 limits. So yeah, YMMV. I'm very tempted to call Cap1 and tell them to either give me a CLI or close the account. Overall, my revolving CL on all cards is something like $22k and yet cap1 hasn't given me an auto CLI. Hell, I have a higher CL on my amazon store card than I do with Cap1.

Re: Cap One Platinum MC Auto CLI !

bichonmom — Tue, 15 Nov 2011 22:29:43 GMT

Well, at least I'm in good company!

Re: Cap One Platinum MC Auto CLI !

Anonymous — Tue, 15 Nov 2011 22:43:44 GMT

I have one even better...

I got my second credit step card with the same $500 CL in 2010. The first one was set for only the $250 increase, but the 2nd card was supposed to have a $250 increase at the 5th month and then another $250 at the 7th month mark. I'm 200% positive that's what the letter stated.

Well, they both got to $750 and they both stopped there. (I got them about about 4 months apart) Always on time, sometimes kept a balance, sometimes PIF but never over the limit, never any problems! I've called a number of times questioning why I wasn't given the 2nd step and have gotten different answers from them i.e. there is no such thing as a second step in the program, your card is not scheduled for a second step, and that canned statement about me being valued and doing excellent crap!

Unfortunately, I didn't keep the letter that stated the two steps were going to be given for my card and therefore, they refuse to honor it. I was told if I sent it (the letter) to them, they would look into it. Yeah, whatever... I remember reading someone else saying that when they read posts like this it just makes them more irritated at Cap1...I have to agree ....although I'm really happy for you guys that are able to squeeze blood from that Cap1 turnip!!! Really, I am!!

Re: Cap One Platinum MC Auto CLI !

bichonmom — Tue, 15 Nov 2011 23:39:22 GMT

At least it's nice to have someplace to commiserate!

Re: Cap One Platinum MC Auto CLI !

coldnmn — Wed, 16 Nov 2011 02:36:27 GMT

I applied Nov 14 2010. Cap1 gave me $300 in credit steps the 7th month went to $500 no annual fee. I got an Email from Cap1 that I have a message. I logged into my account you could have blown me over with a feather, credit limit $2000 WOW. I paid in full some months this month I have a $400 statment do balance.

Re: Cap One Platinum MC Auto CLI !

Anonymous — Wed, 16 Nov 2011 03:10:11 GMT

I'm actually going to test the balance theory this month. I don't plan on applying for anything for awhile so I'm going to see what happens if I let my utilization show 80% on this card. My statement cuts around the 22nd so I'll post my update then.

According to my Experian report, the last soft from them was in September.

Re: Cap One Platinum MC Auto CLI !

mAndrew1980 — Wed, 16 Nov 2011 02:46:41 GMT

Ahhhh, the good old MyFico Cap1 CL debate. This one continues to rage on! I'm looking forward to finding out for myself. Opened my first Cap1 card 9 months ago with a 300CL. After 6 months they bumped it to 500CL. Wonder if anything will happen at the 12-month mark. Anyways I just opened my second Cap1 card with a 500CL. When I called to have it activated today, the lady told me at 5 months they will bump it if my payment history is good. I'm expecting 750CL and no other CLI ever again. But we shall see....

Like I always say though -- I'm hoping to have prime cards by summer so Cap1 CL is really not important to me. I won't be putting any of my big life expenses (engagement ring, trip abroad, down payment on a car, etc) on a Cap1 rebuilder card LOL.

Re: Cap One Platinum MC Auto CLI !

Anonymous — Wed, 16 Nov 2011 02:58:35 GMT

Wow, CS800 - seems like you're due for a major increase! Wishing you the best.

Re: Cap One Platinum MC Auto CLI !

Anonymous — Wed, 16 Nov 2011 03:00:31 GMT

How long have you had the card? Have you tried talking to a manager or the bosses boss? Hey, its worth a try.

Re: Cap One Platinum MC Auto CLI !

Anonymous — Wed, 16 Nov 2011 03:05:29 GMT

Don't be discouraged. I applied for the rewards card, and got a bigger increase than expected. Yes, I already had a card with them, but the inquiries didn't hurt my FICO much. I think inquiries only hurt really bad when you have too many of them. Rule to live by: Only apply for credit when you really need it (I'm taking my own advice here!) All the Best to you!!!

Re: Cap One Platinum MC Auto CLI !

Anonymous — Wed, 16 Nov 2011 03:08:14 GMT

Ha,ha,ha!!! Don't hate. Just keep trying!!!! No really, All the best to you.