topic Re: Capital One CLI in Credit Cards

Capital One CLI

v8eaterWRX — Fri, 13 Apr 2012 07:05:36 GMT

I have had a Cap One Rewards card since 2006 that has not had a CLI. It is currently my lowest limit card by a long shot at $2250. On my end of year statement I charged $32k on that card last year and only paid interest one month as I pay the statement balace off in full before the due dates. As you can see from the numbers above, I end up having to make multiple payments on this card monthly to cover the charges. The only reason I still use it is the cash back feature, but if they do not increase the limit on this card I will sock drawer it until they decide they want to increase the limit. I have called in and requested increases a few times and each time I have been told that an increase is not currently availble upon request. Citi Simplicity just started a new card with a $15k limit so you can see how this small limit does not make much sense. Any advice on getting Cap One to budge on this before I throw the towel in on them?

Re: Capital One CLI

v8eaterWRX — Fri, 13 Apr 2012 07:06:54 GMT

And FWIW in all the times I have requested a CLI I have not had a hard inq once.

Re: Capital One CLI

shane82388 — Fri, 13 Apr 2012 07:20:05 GMT

LOL....this is kind of a widely known thing about Capital One....they pretty much never give CLI's...and when they do its completely random (not necessarily to the best behaved customers or anything.)

Dont count on ever getting a CLI from them.

Re: Capital One CLI

minimock — Fri, 13 Apr 2012 07:21:41 GMT

Capital One is its own beast.

From my experience when you have a platinum, even if you have an 800 score, its going to move little if any.

Few are the ones that have PCd to a vantage or other high end card without re applying for it.

Re: Capital One CLI

Gollum — Fri, 13 Apr 2012 08:25:13 GMT

@v8eaterWRX wrote:
I have had a Cap One Rewards card since 2006 that has not had a CLI. It is currently my lowest limit card by a long shot at $2250. On my end of year statement I charged $32k on that card last year and only paid interest one month as I pay the statement balace off in full before the due dates. As you can see from the numbers above, I end up having to make multiple payments on this card monthly to cover the charges. The only reason I still use it is the cash back feature, but if they do not increase the limit on this card I will sock drawer it until they decide they want to increase the limit. I have called in and requested increases a few times and each time I have been told that an increase is not currently availble upon request. Citi Simplicity just started a new card with a $15k limit so you can see how this small limit does not make much sense. Any advice on getting Cap One to budge on this before I throw the towel in on them?

If you charged $32,000 last year on that card, and Capital One collected 1.9% in transaction fees, that would be $608 income for Capital One last year from your account just from the transaction fees. Are there significant factors regarding your credit history that you did not mention in your original post?

Re: Capital One CLI

Anonymous — Fri, 13 Apr 2012 13:50:49 GMT

@shane82388 wrote:
LOL....this is kind of a widely known thing about Capital One....they pretty much never give CLI's...and when they do its completely random (not necessarily to the best behaved customers or anything.)

Dont count on ever getting a CLI from them.

not sure what your scores are...but if you can afford the HPs and the hit to your AAoA, I would close the no hassle cash back card and open one of their higher tier cards. most likely - you're going to stay at the same low limit card for a very, very, very long time.

(Yes, I have a Cap1 card, yes, I refer to them as Crap1 sometimes, but I do love the fact that they extended credit to me before I would extend credit to myself )

Re: Capital One CLI

aussiesareforever — Fri, 13 Apr 2012 14:04:08 GMT

@Anonymous wrote:
not sure what your scores are...but if you can afford the HPs and the hit to your AAoA, I would close the no hassle cash back card and open one of their higher tier cards. most likely - you're going to stay at the same low limit card for a very, very, very long time.

(Yes, I have a Cap1 card, yes, I refer to them as Crap1 sometimes, but I do love the fact that they extended credit to me before I would extend credit to myself )

I just wouldn't take the chance with Capital One. They pull all three CB and won't let you recon if you get denied. There are better cards out there. I recommend keeping the card but moving on to greener pasture.

Re: Capital One CLI

birjest — Fri, 13 Apr 2012 15:24:33 GMT

I concur with not applying with them again. My first card since my 2008 financial meltdown (snazzy title) was Cap 1. Being station in the middle east and having this card was a blessing, in the financial sense. However, upon my return to the states, I will go with an AMEX revolving card like Costco or BCE to gain some of the cashback...minus the af. Then again, I will just keep it and sd. The jury is still out...

Re: Capital One CLI

v8eaterWRX — Fri, 13 Apr 2012 16:12:51 GMT

Currently at 787-800 across all three bureaus. 2% utilization on $80k. No negatives, high inquiries from purchasing a camper last June and three new cars spaces out over two years.

Re: Capital One CLI

Anonymous — Fri, 13 Apr 2012 16:22:05 GMT

I believe 'officially' Capital One does not do customer initiated CLI at this point in time.

Re: Capital One CLI

v8eaterWRX — Fri, 13 Apr 2012 18:42:02 GMT

I will not be adding another Cap One card. Last year they sent me a prequalified rewards card based on the current account, I applied and got an instant approval.....for $1500... If they are going to be stingy with the limit permanently then I will move on to another rewards card. I would rather make one payment a month for the statement balance than two or three based on what I am spending.