topic Re: Capital One stingy giving any credit? in Credit Cards

Capital One stingy giving any credit?

Florida1990 — Sat, 05 Jul 2014 13:59:55 GMT

Does anyone else think capital one is stingy when lending credit? I have been denied everytime.

Re: Capital One stingy giving any credit?

Kenny — Sat, 05 Jul 2014 14:01:18 GMT

Sometimes, we need to listen to their advice and act on it if one is receiving multiple denials.

What are the reasons?

Re: Capital One stingy giving any credit?

Florida1990 — Sat, 05 Jul 2014 14:12:20 GMT

They all say different things when I call one person says my account is not eligible at this time; then another says the system automatically reveiws accounts eligible so I should wait which has been 3 years with them. I'm fed up I probably will just close them.

Re: Capital One stingy giving any credit?

Kenny — Sat, 05 Jul 2014 14:17:15 GMT

If you've had them 3 years then I would suggest going to the executive office or through the social media team. (You can use facebook message to ask for a credit limit increase and someone will get in touch with you regarding this. This will get you a manual review.)

Re: Capital One stingy giving any credit?

coldnmn — Sat, 05 Jul 2014 14:29:21 GMT

If your talking the one with the $1800 limit it's your second highest CL and if your talking the $300CL even credit steps would get you higher. For some reason your not sharing your whole credit story.

Re: Capital One stingy giving any credit?

Kenny — Sat, 05 Jul 2014 14:34:21 GMT

@coldnmn wrote:
If your talking the one with the $1800 limit it's your second highest CL and if your talking the $300CL even credit steps would get you higher. For some reason your not sharing your whole credit story.

Oh yeah, didn't see there was two. The 300 one will grow with regular usage/payments with your credit steps. The EO is premature at this point for this 300 card.

Re: Capital One stingy giving any credit?

SevenNEW — Sat, 05 Jul 2014 14:46:28 GMT

@Florida1990 wrote:
Does anyone else think capital one is stingy when lending credit? I have been denied everytime.

Yeah, they can be stingy on CLIs. This said, what are your scores? What most people in this forum have done (myself included) is apply for major cards whenever we were ready and SD the Cap 1. In most cases they made a move years later. I don't know if this is very helpful at this point, but this is my history and--it seems--a very common development.

Re: Capital One stingy giving any credit?

Anonymous — Sat, 05 Jul 2014 15:53:58 GMT

@coldnmn wrote:
If your talking the one with the $1800 limit it's your second highest CL and if your talking the $300CL even credit steps would get you higher. For some reason your not sharing your whole credit story.

What he said...

Re: Capital One stingy giving any credit?

One7 — Sat, 05 Jul 2014 16:43:40 GMT

I strongly dislike Capital One (so does many other people) and I could go on forever talking about it but I won't waste your time lol. Sorry for your troubles with them.

Edit: Typo

Re: Capital One stingy giving any credit?

Andy77 — Sat, 05 Jul 2014 17:47:32 GMT

I think it really depends....case in point...in 2011 I got cards with them....no hastle miles and cash rewards cards with 900.00 and 1800 limit, I paid those accounts off and closed.

Fast forward to now...applied last week and got approved for venture with 20k line.

I am thinking SO much of it has to do with a) income, b) untilizaion c) past account performance with them.

I have a bk thats 4.5 yrs old AND all those negative accounts associated with it, so thats why I think it all just depends on the three points I mentioned above...

Re: Capital One stingy giving any credit?

lg8302ch — Sat, 05 Jul 2014 18:12:15 GMT

I did not experience Cap1 as being stingy with CL. Got approved for 5K and doubled after 1 yr to 10K. Cap1 has been very generous to me ..so it is YMMV and depends on each profile and what each lender is looking for...... I had much more trouble with Discover (CL) and Chase (APR) myself

Re: Capital One stingy giving any credit?

Turbobuick — Sat, 05 Jul 2014 19:45:11 GMT

I had a fantastic Capital One relationship for 22+ years. I gave them every reason to love me. Multiple car loans and multiple credit cards. I was the proverbial perfect customer/borrower. Yada yada yada.... I no longer associate with them.

Re: Capital One stingy giving any credit?

core — Sat, 05 Jul 2014 19:57:33 GMT

Crapital One is beyond stingy. I was a customer for 4 years, no baddies for 6.7 years (all were there when approved), $125k income, highest other limits 15k and 7k, and yet I'm stuck with a $750 CL. They even flat out denied me for a QS1 last month. I have no idea what I did to get on their bad side. Maybe it was that $3.3k secured card I had for 4 years and had to close since they wouldn't PC it. I'll probably be cutting them loose next year. They are useless to me, especially since the free credit score isn't even real.

Getting approved for a new card at $10-20k is a whole different ballgame. I thought we were talking about CLIs here. I have no doubt that if I applied next year they'd give me something decent starting from scratch. I shouldn't have to though. And I'm not burning another 3 HPs on Cap One. I could play the Facebook/EO game but that seems completely ridiculous. If you can't call customer support and get something done, but some silly Facebook account can, then something is WRONG. If their automated underwriting is that far off, then again, something is WRONG. See you later Capital One. Wish I could say it's been fun, but I cannot.

Re: Capital One stingy giving any credit?

Andy77 — Sat, 05 Jul 2014 20:13:10 GMT

They were stingy with me in the past...not anymore..got my Venture card today...

Re: Capital One stingy giving any credit?

Anonymous — Sat, 05 Jul 2014 20:13:53 GMT

I heard baddies don't fall off until year 8.... Also, Capital one isn't a company that you are going to start with a huge CL to begin with - The wanna see 750+ and 3 years of handling a $5k + CL.

But, this is what I have gathered from reading about what others say - I'm just a secured card holder. I wont be apping for an unsecured Capital One Card for at least 2.5 years - by then I'll meet their unrealistic requirements, lol...

@core wrote:
Crapital One is beyond stingy. I was a customer for 4 years, no baddies for 6.7 years (all were there when approved), $125k income, highest other limits 15k and 7k, and yet I'm stuck with a $750 CL. They even flat out denied me for a QS1 last month. I have no idea what I did to get on their bad side. Maybe it was that $3.3k secured card I had for 4 years and had to close since they wouldn't PC it. I'll probably be cutting them loose next year. They are useless to me, especially since the free credit score isn't even real.

Getting approved for a new card at $10-20k is a whole different ballgame. I thought we were talking about CLIs here. I have no doubt that if I applied next year they'd give me something decent starting from scratch. I shouldn't have to though. And I'm not burning another 3 HPs on Cap One. I could play the Facebook/EO game but that seems completely ridiculous. If you can't call customer support and get something done, but some silly Facebook account can, then something is WRONG. If their automated underwriting is that far off, then again, something is WRONG. See you later Capital One. Wish I could say it's been fun, but I cannot.

Re: Capital One stingy giving any credit?

fot1 — Sat, 05 Jul 2014 20:46:23 GMT

I think Cap one's reputation more then speaks for its self.. Just look at the number of threads daily that come up like this..

Re: Capital One stingy giving any credit?

Andy77 — Sat, 05 Jul 2014 20:55:18 GMT

Personally....I think they have much improved. Unless the computer made a large error I was able to get the Venture card with a 20k limit with 7 accounts having been included in my BK from 2009 AND I included 2 accounts with Cap One in my BK.

Having said that though, since 2009, I have busted my ____ to improve my credit and I have 1 % utilization, 175k income, no lates since 2009, But none the less I still have the bk on my CR with all those negative accounts and look what they gave me.

I think its safe to say it truly varies from CR to CR with them and them especially....or its luck....one thing is certain...its not logical...

Re: Capital One stingy giving any credit?

fot1 — Sat, 05 Jul 2014 21:02:16 GMT

@Andy77 wrote:
Personally....I think they have much improved. Unless the computer made a large error I was able to get the Venture card with a 20k limit with 7 accounts having been included in my BK from 2009 AND I included 2 accounts with Cap One in my BK.

Having said that though, since 2009, I have busted my ____ to improve my credit and I have 1 % utilization, 175k income, no lates since 2009, But none the less I still have the bk on my CR with all those negative accounts and look what they gave me.

I think its safe to say it truly varies from CR to CR with them and them especially....or its luck....one thing is certain...its not logical...

Fully agree with that..lol

Re: Capital One stingy giving any credit?

Andy77 — Sat, 05 Jul 2014 21:04:20 GMT

I do have another theory though....MAYBE they look at what other lenders gave you credit and put weight on that...

For instance, Penfed is conservative and hard to get credit with, but I have a 20k Amex with them...so maybe they saw that on my CR and it swayed their decision.

Just a thought...

Again not logical...but this was a thought I had...

Re: Capital One stingy giving any credit?

fot1 — Sat, 05 Jul 2014 21:21:05 GMT

Hey its as good a theory as any..lol I know my personal Cap one is going to be kept down because it was an old HSBC account and that currently they don't have the same offers as an applied for Cap one account.