CapOne CLI - disappointed

[anniea4001]

So fresh out of my CH7 discharge in March 2020, I was approved for CapOne Platinum with a 3k SL. 

In Aug 2021 I tried the upgrade link and was given the option to upgrade to QS no AF or Venture One no AF. I went to the Venture One.

I have been looking forward to my 6 month mark to see if they would give me a CLI and lo and behold, today I get a congrats email about a CLI. Excited I opened the email just to see a $100 CLI..... 

I am very grateful CapOne gave me the oportunity to start rebuilding with a no AF fee card but I was really hoping for more than a $100 CLI.

 

[Anonymous]

I think it'd help if you're banking with them. I just got approved for a card (Quicksilver) with a limit of 3000. I have been banking them for over a year and I got discharged yesterday. 

[anniea4001]

@Anonymous I am pretty sure your approval has nothing to do with baking with them.

CapOne is very well know in this forum for approving people fresh out of BK and 3k seems to be the most common SL.

I got approved the very next day for a Platinum with a 3K limit as well. 

My dissapointment is in the amount of the CLI. 

[FireMedic1]

That seems to be the norm lately with $100. In the approval sub forum theres many $100 CLI's. Least approvals are $3000 now. Used to be $500-1000 on avg. Plus it used to take longer to get in after DC. Take what you can get nowadays with them. Congrats!

[Steveo777]

I wonder if it has to do with how much you pay and charge each month? Back when I was getting substantial CLI's with them, I would Charge up a couple thousand bucks, then either pay it off or pay off a large chunk. It seemed I could get $1000-$1500 CLI's pretty regularly.

Since I have a recent BK7, I was surprised they even let me back in, after burning them for $50k. But they did, and they gave me a $3k SL. I'm still a good six months away from asking them for a CLI, so I guess I'll see how generous they are later.

[FireMedic1]

They were much more generous a few yrs back. I had a car loan with them I reaffirmed. My Venture, Savor and QS were all approved @ 10k. Unheard of today. My first card the Plat was 2k. 2nd was QS1 3k. I actually turned in when I was new and worried I was getting to high of a credit limit I think it was 9k? Members were like why'd you do that? But I didnt know back then. They have gotten stingy for a while now.

[anniea4001]

@Steveo777  I am not sure if that factors into CLI decisions. I would assume it might.

In my case, I use the card a lot. Like for most purchases. 

@FireMedic1  I guess it might have something to do with the way the economy is shaping. 

I did have a couple of CapOne cards several years ago but I started with low limits that grew pretty fast. 

My started card had a $500 SL if I recall correctly, within a year or 2 the limit grew to 4k. Somewhere in the middle there I got a pre approval mailer for another card with a SL of 1k that later grew to 2k in about 6 months. 

But at this point I am just glad I was able to get credit so soon after my discharge. So hopefully they will be more generous with CLIs in the future. 

[Red1Blue]

Congrats on your CLI. I would take what ever they give. I am sure next time they will give more.

[FireMedic1]

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@anniea4001 wrote:

@Steveo777  I am not sure if that factors into CLI decisions. I would assume it might.

In my case, I use the card a lot. Like for most purchases. 

@FireMedic1  I guess it might have something to do with the way the economy is shaping. 

I did have a couple of CapOne cards several years ago but I started with low limits that grew pretty fast. 

My started card had a $500 SL if I recall correctly, within a year or 2 the limit grew to 4k. Somewhere in the middle there I got a pre approval mailer for another card with a SL of 1k that later grew to 2k in about 6 months. 

But at this point I am just glad I was able to get credit so soon after my discharge. So hopefully they will be more generous with CLIs in the future. 

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Ah so you remember. Yeah they approved people and passed out CLI's like crazy. Then it was. HIT THE BRAKES!!!!!! Now crumbs compared to the old days. Oh well. Cant get any worse.

[FinStar]

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@anniea4001 wrote:

@Steveo777  I am not sure if that factors into CLI decisions. I would assume it might.

In my case, I use the card a lot. Like for most purchases. 

@FireMedic1  I guess it might have something to do with the way the economy is shaping. 

I did have a couple of CapOne cards several years ago but I started with low limits that grew pretty fast. 

My started card had a $500 SL if I recall correctly, within a year or 2 the limit grew to 4k. Somewhere in the middle there I got a pre approval mailer for another card with a SL of 1k that later grew to 2k in about 6 months. 

But at this point I am just glad I was able to get credit so soon after my discharge. So hopefully they will be more generous with CLIs in the future. 

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While the economy can play a role into a lender's financial outlook, think product 'tranches' @anniea4001. When it comes to lending/business models, this is how Capital One (and plenty of lenders) operate. Below is an arcticle that can provide some insight:

https://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Card-Asset-Backed-Securities-ABS-and-w...