topic Re: Cap1 unwilling to increase CL if it's your highest? in Credit Cards

Cap1 unwilling to increase CL if it's your highest?

go_FICO_self — Tue, 16 Sep 2014 07:34:07 GMT

I asked for manual review for Cap1 CL increase. I thought I stood a good chance of getting something. But was denied, the primary reason being: "No experience with high limits" or something to that effect.

I'm curious if it's because it's my highest limit and so unwilling to go higher? Anyone else have something similar?

Re: Cap1 unwilling to increase CL if it's your highest?

Anonymous — Tue, 16 Sep 2014 12:17:18 GMT

That may be why, but that's just a guess. I mean, some banks that offer Siggys won't give them to you unless you've already had $5k limits. I know that's not your situation, but I'm just saying that I see the similarities.

On a somewhat unrelated note, I just tried for a CL, and while this wasn't the only reason I got denied, I found this interesting.

"Recent use of this account's existing credit line has been too low"

So, if you keep a high balance, they penalize you. If you keep a low balance, you're also penalized. Sometimes it just seems like they make up reasons for not approving CLIs.

Re: Cap1 unwilling to increase CL if it's your highest?

MissMoni223 — Tue, 16 Sep 2014 12:22:05 GMT

I too got that same "reason" from Cap1 when I requested a CLI on 1 of my cards from them back in June. The card is currently at $4,000, which is my highest limit from them out of 3 cards. I will request again because I KNOW for a fact that some people have 5 digit CL's wtih them. I suppose they just want to see how you handle it before they give you more. . .

Re: Cap1 unwilling to increase CL if it's your highest?

Anonymous — Tue, 16 Sep 2014 12:34:57 GMT

@Anonymous wrote:
That may be why, but that's just a guess. I mean, some banks that offer Siggys won't give them to you unless you've already had $5k limits. I know that's not your situation, but I'm just saying that I see the similarities.

On a somewhat unrelated note, I just tried for a CL, and while this wasn't the only reason I got denied, I found this interesting.

"Recent use of this account's existing credit line has been too low"

So, if you keep a high balance, they penalize you. If you keep a low balance, you're also penalized. Sometimes it just seems like they make up reasons for not approving CLIs.

Hit the nail on the head. That I do believe to be very true at times.

Re: Cap1 unwilling to increase CL if it's your highest?

s_haliz — Tue, 16 Sep 2014 12:47:20 GMT

@go_FICO_self wrote:
I asked for manual review for Cap1 CL increase. I thought I stood a good chance of getting something. But was denied, the primary reason being: "No experience with high limits" or something to that effect.

I'm curious if it's because it's my highest limit and so unwilling to go higher? Anyone else have something similar?

Cap1 is my lowest limit CC (along woth TJX, both have $20K limits). Does that mean I have a pretty good chance of getting CLI? By your rationale, I would say yes. I had not tried as of yet. Technically I can request now (but may wait few weeks).

Re: Cap1 unwilling to increase CL if it's your highest?

go_FICO_self — Tue, 16 Sep 2014 13:06:03 GMT

@s_haliz wrote:
Cap1 is my lowest limit CC (along woth TJX, both have $20K limits). Does that mean I have a pretty good chance of getting CLI? By your rationale, I would say yes. I had not tried as of yet. Technically I can request now (but may wait few weeks).

(Ignoring the obvious flaw in your logic...) With your profileI don't think you need any rationale or problem requesting CLI's

Re: Cap1 unwilling to increase CL if it's your highest?

s_haliz — Tue, 16 Sep 2014 13:10:46 GMT

@go_FICO_self wrote:
@s_haliz wrote:
Cap1 is my lowest limit CC (along woth TJX, both have $20K limits). Does that mean I have a pretty good chance of getting CLI? By your rationale, I would say yes. I had not tried as of yet. Technically I can request now (but may wait few weeks).
(Ignoring the obvious flaw in your logic...) With your profileI don't think you need any rationale or problem requesting CLI's

One can always assume that with my kind of profile, there is absolutely no issue. However I was declined just few weeks back of CLI from $10K to $20K on my TJX Platinum Master Card. I have to do recon and manual review to get $20K. Everyone should be strategize and be prepared to "negative" outcome and be prepared for "recon"....That's all I can say.

Re: Cap1 unwilling to increase CL if it's your highest?

go_FICO_self — Tue, 16 Sep 2014 13:18:24 GMT

@s_haliz wrote:
One can always assume that with my kind of profile, there is absolutely no issue. However I was declined just few weeks back of CLI from $10K to $20K on my TJX Platinum Master Card. I have to do recon and manual review to get $20K. Everyone should be strategize and be prepared to "negative" outcome and be prepared for "recon"....That's all I can say.

I think it's the norm that past certain threshold one needs a manual review for any CLI increase. Be it AMEX (much discussed here), or any other lender. I skipped over that obvious part

Re: Cap1 unwilling to increase CL if it's your highest?

takeshi74 — Tue, 16 Sep 2014 13:32:34 GMT

@go_FICO_self wrote:
I'm curious if it's because it's my highest limit

That and your credit profile.

Re: Cap1 unwilling to increase CL if it's your highest?

navigatethis12 — Tue, 16 Sep 2014 13:36:17 GMT

@Anonymous wrote:
That may be why, but that's just a guess. I mean, some banks that offer Siggys won't give them to you unless you've already had $5k limits. I know that's not your situation, but I'm just saying that I see the similarities.

On a somewhat unrelated note, I just tried for a CL, and while this wasn't the only reason I got denied, I found this interesting.

"Recent use of this account's existing credit line has been too low"

So, if you keep a high balance, they penalize you. If you keep a low balance, you're also penalized. Sometimes it just seems like they make up reasons for not approving CLIs.

From a logical position, does it make sense to increase a customers limit from 20,000 if they only use 500 a month? I don't know how you use your credit limit, but if you're not using a lot or most of it, it would make sense for them not to see a reason to increase it. I also understand hesitation with granting higher than other lenders have. Some lenders don't care and have no issue granting a 25000 limit when the next highest is 10000, but it does make sense that some would be cautious if the customer hasn't had high limits before.

Re: Cap1 unwilling to increase CL if it's your highest?

go_FICO_self — Tue, 16 Sep 2014 13:47:26 GMT

@Anonymous wrote:
That may be why, but that's just a guess. I mean, some banks that offer Siggys won't give them to you unless you've already had $5k limits. I know that's not your situation, but I'm just saying that I see the similarities.

On a somewhat unrelated note, I just tried for a CL, and while this wasn't the only reason I got denied, I found this interesting.

"Recent use of this account's existing credit line has been too low"

So, if you keep a high balance, they penalize you. If you keep a low balance, you're also penalized. Sometimes it just seems like they make up reasons for not approving CLIs.

Personally I've found the best way to get cap1 increase is to use the card. A LOT! (others have also echoed this in the forums). I don't know about carrying balances, because I always PIF, but they do like when you make use of the credit line. Plus, given that they might give partial increase, and it's always SP, i felt like it's a win-win. well, except this last time.

Re: Cap1 unwilling to increase CL if it's your highest?

Anonymous — Tue, 16 Sep 2014 14:06:34 GMT

@go_FICO_self wrote:
@Anonymous wrote:
That may be why, but that's just a guess. I mean, some banks that offer Siggys won't give them to you unless you've already had $5k limits. I know that's not your situation, but I'm just saying that I see the similarities.

On a somewhat unrelated note, I just tried for a CL, and while this wasn't the only reason I got denied, I found this interesting.

"Recent use of this account's existing credit line has been too low"

So, if you keep a high balance, they penalize you. If you keep a low balance, you're also penalized. Sometimes it just seems like they make up reasons for not approving CLIs.
Personally I've found the best way to get cap1 increase is to use the card. A LOT! (others have also echoed this in the forums). I don't know about carrying balances, because I always PIF, but they do like when you make use of the credit line. Plus, given that they might give partial increase, and it's always SP, i felt like it's a win-win. well, except this last time.

Yeah, apparently that's the case. I guess I'll try to put more spend on my QS and check back in a few months to see if they're willing to throw me a bone. Worst case scenario, I get a bit of cash back. The only thing is, I was really trying to put most of my spend this year on my CSP to justify the AF.

Re: Cap1 unwilling to increase CL if it's your highest?

Anonymous — Tue, 16 Sep 2014 15:19:36 GMT

+1 been my experience too. Gotten customer initiated cli even when having high balance. I use the card all the time and some auto pays too.

@go_FICO_self wrote:
@Anonymous wrote:
That may be why, but that's just a guess. I mean, some banks that offer Siggys won't give them to you unless you've already had $5k limits. I know that's not your situation, but I'm just saying that I see the similarities.

On a somewhat unrelated note, I just tried for a CL, and while this wasn't the only reason I got denied, I found this interesting.

"Recent use of this account's existing credit line has been too low"

So, if you keep a high balance, they penalize you. If you keep a low balance, you're also penalized. Sometimes it just seems like they make up reasons for not approving CLIs.
Personally I've found the best way to get cap1 increase is to use the card. A LOT! (others have also echoed this in the forums). I don't know about carrying balances, because I always PIF, but they do like when you make use of the credit line. Plus, given that they might give partial increase, and it's always SP, i felt like it's a win-win. well, except this last time.

Re: Cap1 unwilling to increase CL if it's your highest?

thatguy1 — Tue, 16 Sep 2014 15:24:25 GMT

Credit card companies make money from interchange fees, interest, and card fees, in that order. They have no reason to give you use of their money unless they are making money. They prefer that you spend a lot and then pay in full, rather than carry a large balance because chances increase that you will default the longer you carry a balance.

I regularly run 3x to 4x the limit through each credit card a month. I usually pay off every Monday and shift to using my ATM/Debit card at the end of the month so the card do not report at 90% of their limit. Occasionally I miss the report date and lose a few points due to high balances.

I wish I had understood how all this worked when I was younger, I would have been way better off with lower interest rates and actually using my credit rather than just paying cash for everything.

Re: Cap1 unwilling to increase CL if it's your highest?

thelethargicage — Tue, 16 Sep 2014 15:24:56 GMT

I think Capital One is unwilling to do pretty much anything you ask them to do.

Re: Cap1 unwilling to increase CL if it's your highest?

TRC_WA — Tue, 16 Sep 2014 15:31:58 GMT

I got the same "recent use of this accounts CL has been too low" when I tried for a CLI on my $1500 card a few months back. They were right... I used it for $200 a month or so and PIF.

I contacted the EO and got a $500 increase.

What's funny is my 2nd card had a $750 limit and I hit the luv button a few weeks ago and got a $2000 CLI... Despite the fact I use that card for the same $200 or so a month that "wasn't enough usage" on my other card.

Re: Cap1 unwilling to increase CL if it's your highest?

go_FICO_self — Tue, 16 Sep 2014 16:16:18 GMT

@TRC_WA wrote:
I got the same "recent use of this accounts CL has been too low" when I tried for a CLI on my $1500 card a few months back. They were right... I used it for $200 a month or so and PIF.

I contacted the EO and got a $500 increase.

What's funny is my 2nd card had a $750 limit and I hit the luv button a few weeks ago and got a $2000 CLI... Despite the fact I use that card for the same $200 or so a month that "wasn't enough usage" on my other card.

well, in percentage terms, 200/750 is higher, i.e. more usage than 200/1500. so maybe that helps determine their cutoff point?

Re: Cap1 unwilling to increase CL if it's your highest?

yfan — Tue, 16 Sep 2014 16:40:01 GMT

@go_FICO_self wrote:
@TRC_WA wrote:
I got the same "recent use of this accounts CL has been too low" when I tried for a CLI on my $1500 card a few months back. They were right... I used it for $200 a month or so and PIF.

I contacted the EO and got a $500 increase.

What's funny is my 2nd card had a $750 limit and I hit the luv button a few weeks ago and got a $2000 CLI... Despite the fact I use that card for the same $200 or so a month that "wasn't enough usage" on my other card.
well, in percentage terms, 200/750 is higher, i.e. more usage than 200/1500. so maybe that helps determine their cutoff point?

That, and usage isn't only about how much you are charging, but also about how often you're charging. Remember, the swipe fees are a combination of a constant plus a percentage. They want more swipes, not just more amounts.

Re: Cap1 unwilling to increase CL if it's your highest?

jsucool76 — Tue, 16 Sep 2014 20:03:50 GMT

I've been trying to get a CLI on my cap1 for a while now. sent a message to cap1 on facebook, and just got a call from the EO about it, she said she is going to submit my CLI request for manual review (still only a SP) and she'll call me back in a few days once it's done.

I've had the card for over 2 years and am yet to receive a CLI (other than my $500 credit steps CLI) They were my highest CL for a while, so I wonder if that is why. Now I have my marriot card @5k, so I asked for 5k on cap1.

Re: Cap1 unwilling to increase CL if it's your highest?

go_FICO_self — Wed, 17 Sep 2014 12:18:41 GMT

@jsucool76 wrote:
I've been trying to get a CLI on my cap1 for a while now. sent a message to cap1 on facebook, and just got a call from the EO about it, she said she is going to submit my CLI request for manual review (still only a SP) and she'll call me back in a few days once it's done.

@I've had the card for over 2 years and am yet to receive a CLI (other than my $500 credit steps CLI) They were my highest CL for a while, so I wonder if that is why. Now I have my marriot card @5k, so I asked for 5k on cap1.

This could give interesting news. Keep us updated on the outcome.