topic Re: Capital One Response to CLI Request in Rebuilding Your Credit

Capital One Response to CLI Request

AbsentMindedProfessor — Thu, 04 Apr 2013 01:17:05 GMT

I had sent a number of CLI requests out about 2 weeks ago pointing out my credit improvement initiatives as well as providing proof of income in the hopes of getting my average accounts limit over the $2,000 dollar mark. Capital One replied with the following somewhat cryptic message, that I can't really equate with a yes or no. As near as I can tell if I keep up five months of on time payments I'll get an increase...any thoughts based on the quote below:

"Thanks for contacting us about your Capital One account.

You were disclosed a pre-qualified credit line amount above your initial credit line. you may be eligible to access the full pre-qualified line if you complete the following steps:

* Activate and use (any activity that would create a payment due) the card within the first 5 months of the account opening.

* Make the first five monthly payment son time"

Re: Capital One Response to CLI Request

Anonymous — Thu, 04 Apr 2013 01:23:39 GMT

Sounds like the credit steps program. Use your card once a month, pay in full almost immediately after using/before the due date and you should see an auto CLI on the 6-7th statement.

You can also chat online with a rep who can confirm the statement that you're eligible for the increase.

Re: Capital One Response to CLI Request

AbsentMindedProfessor — Thu, 04 Apr 2013 01:33:49 GMT

Thanks for the feedback. I already started down that path and have set calendar reminders not only to pay the bill, but also to use the card so that there is a bill to pay (I'd recently paid it down to zero)

Re: Capital One Response to CLI Request

Burned2manybridgesB4 — Thu, 04 Apr 2013 13:28:02 GMT

Yes, it's steps. Just a fair warning about their program; typically there's only one increase, and instead of any future CLI's, they prefer you to close, and reapply. This is one of the major reasons you'll see commentary about Cap One EO intervention quite a bit on this site.

Re: Capital One Response to CLI Request

goldenyears — Fri, 05 Apr 2013 03:39:10 GMT

This thread has me worried now. I received the rewards card in December (the one for average credit) and there was no mention at the time that this was a repair card or anything of the sort. Just last month I recieved the letter saying I was elibgible to receive an automatice $500 increase after paying five months on time. I was planning to ask for more, since I have been using this card heavily (auto bill pay, etc., paid in full every month) and maybe transferring to the rewards card with no fee next year.

So I am not going to be able to get more than $2500 on this card ever?

Re: Capital One Response to CLI Request

Henchman21 — Fri, 05 Apr 2013 04:33:45 GMT

@goldenyears wrote:
This thread has me worried now. I received the rewards card in December (the one for average credit) and there was no mention at the time that this was a repair card or anything of the sort. Just last month I recieved the letter saying I was elibgible to receive an automatice $500 increase after paying five months on time. I was planning to ask for more, since I have been using this card heavily (auto bill pay, etc., paid in full every month) and maybe transferring to the rewards card with no fee next year.

So I am not going to be able to get more than $2500 on this card ever?

No, that's not true. Capital One has a tendency to set maximum limits based on your credit report when you apply for the card. So when your credit has increased nicely and you have other cards with higher limits, they still consider you by your original report. That's why you see $10k, $12k limits on other cards, but still $2k on Captial one and why you have more success by closing that card and reapplying. However, there are many cli successes seen on the credit card forum where people have appealed directly to the EO. It's best to have a low balance on the card, and the your credit cleaned up nicely when you ask. But you can increase that limit, don't give up. Do some searches for Cap One EO cli success. Good luck!