Another Cap1 thread of an adventure of getting a CLI

[Anonymous]

---

Contrast that to Amex or Discover that will give someone a CLI when they are using 0%-1% of their credit limit during a cycle.  It's lenders like Amex and Discover that cause us to get pissed about those like Capital One in this example... but Capital One is really the "smart" one here and Amex and Discover are the idiots from a business perspective in terms of risk/reward.

---

I would say the same, from a lender perspective, Capital One is making a savvy decision, is not like they can give infinite credit lines and having a good quality with possibily good returns (Ejem, high utilization + a lot of swipes and usage) certaintly helps with that.

[Anonymous]

---

@Anonymous wrote:

---

This post is a example of how wrong you are, when people with BKs get CLI from $5k to $8k with Cap1, who’s really the idiots? Who’s running the risk vs giving someone a CLI with no BK? I only have a $4500 CL and that’s been over the long run of 4 years, so that $1290 I used last month is using the credit line I was given, which I made a mistake and stated I was denied for usage.

---

You're comparing apples to oranges and quite honestly, your post just sounds like sour grapes on your part.  A BK is not relevant to a CLI conversation.  If you want to make it relevant to the approval or denial of a product that's one thing, but once the lender extends credit to someone with a BK it is what it is.  What we're talking about here is usage and its impact on a CLI.  If the person with the BK gets a CLI from $5k to $8k and is spending heavily on that account/paying it off, it shows Capital One that the CLI would be beneficial to that person and perhaps Capital One as well due to a potential increased spend.

If you're spending $1290 in a cycle on a $4500 card, you don't need a CLI; that's not even 30% of your limit.  If you aren't using close to 50% of your limit in a cycle, even with a float of your previous statement balance through almost your entire next cycle until the payment due date you wouldn't hit your limit.  I get it that you want a CLI on your card, but from a lending perspective you don't need it in the eyes of Capital One.  And, they're right.

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

---

This post is a example of how wrong you are, when people with BKs get CLI from $5k to $8k with Cap1, who’s really the idiots? Who’s running the risk vs giving someone a CLI with no BK? I only have a $4500 CL and that’s been over the long run of 4 years, so that $1290 I used last month is using the credit line I was given, which I made a mistake and stated I was denied for usage.

---

You're comparing apples to oranges and quite honestly, your post just sounds like sour grapes on your part.  A BK is not relevant to a CLI conversation.  If you want to make it relevant to the approval or denial of a product that's one thing, but once the lender extends credit to someone with a BK it is what it is.  What we're talking about here is usage and its impact on a CLI.  If the person with the BK gets a CLI from $5k to $8k and is spending heavily on that account/paying it off, it shows Capital One that the CLI would be beneficial to that person and perhaps Capital One as well due to a potential increased spend.

If you're spending $1290 in a cycle on a $4500 card, you don't need a CLI; that's not even 30% of your limit.  If you aren't using close to 50% of your limit in a cycle, even with a float of your previous statement balance through almost your entire next cycle until the payment due date you wouldn't hit your limit.  I get it that you want a CLI on your card, but from a lending perspective you don't need it in the eyes of Capital One.  And, they're right.

---

Opinions are just that and you seem to think yours is right? Apples to Oranges, I bring in a tangible thought about a person with a BK getting CLIs with CAP1 and you call Discover and others foolish for giving others CLIs that use their cards and maybe don’t spend heavily? Discover upped the credit limit on my authorization card from $6500 to $9800 and it is only being used for small payments and history,  looks good on the report, Maybe they reward their foolish consumers.  BTW those with BKs that spend heavily are not always the ones that need the CLI and they run a greater risk of defaulting again. But hey you missed my point I was trying to make, but please go on how thats beneficial to CAP1. 

[FinStar]

Just a reminder regarding the forum rules for posting. There certainly can be disagreements, but all posts must conform to the Friendly, Supportive and Respectful guidelines - no exceptions.

Thank you for your understanding and cooperation.

-FS

[Anonymous]

My credit rebuild journey has been long and a learning experience, and lately on the board seeing a lot of CLI frustrations with Cap1, I am the fiercest critic of how Cap1 hands out CLIs. Is there really a process with them or is it just a hit or miss? I think the latter but I think they like to drive the consumer mad until they give out a CLI, so don’t give up on requesting a CLI. After requesting a CLI for the past 2 months and every day for the past 5 days, the impossible happened, I just received a CLI for $2k. I did balance transfers for 2 months straight in the amount of $2k, some on the board said it wouldn’t help and I was like I’ll try it since I was getting the denial for low usage on the account. I am unsure if I am still BEING bucketed to them? I guess I will find out in 6 months, when I request another CLI. But does anyone know if Cap1 reports the CLI to the 3 bureaus right away or close of cycle?

[Remedios]

It will report at the normal time (after statement closes)

CLI does not cause off cycle report 

[Anonymous]

It should be reported whenever your statement cuts and they do their usual monthly reporting.

I don't get all of the frustration or "hate" when it comes to [lack] of Capital One CLIs personally.  I think it's the "easy" lenders out there like Amex, Discover or anyone else that hands out CLIs like candy to people that barely use or in many cases don't use their accounts at all that makes it seem like Capital One is the bad guy.  The reality is that Capital One is really the smart one from a risk/reward perspective.  If someone isn't using between (say) 40% and 50% or more of their limit consistently from month to month, they don't really "need" a CLI.  Now, if you're using your limit that much consistently and aren't getting one, I can understand some frustration.  All too often I see threads though were someone is spending "hundreds on their Capital One card every month" and can't get a CLI, but on their $3k or $4k card we're talking around 10% of their limit being used.  A CLI in that case, or many cases I read about simply isn't warranted.

[Anonymous]

---

@Anonymous wrote:

It should be reported whenever your statement cuts and they do their usual monthly reporting.

I don't get all of the frustration or "hate" when it comes to [lack] of Capital One CLIs personally.  I think it's the "easy" lenders out there like Amex, Discover or anyone else that hands out CLIs like candy to people that barely use or in many cases don't use their accounts at all that makes it seem like Capital One is the bad guy.  The reality is that Capital One is really the smart one from a risk/reward perspective.  If someone isn't using between (say) 40% and 50% or more of their limit consistently from month to month, they don't really "need" a CLI.  Now, if you're using your limit that much consistently and aren't getting one, I can understand some frustration.  All too often I see threads though were someone is spending "hundreds on their Capital One card every month" and can't get a CLI, but on their $3k or $4k card we're talking around 10% of their limit being used.  A CLI in that case, or many cases I read about simply isn't warranted.

We had this dicussion before thats your OP, I see Capital One handing out CLIs like candy to questionable accounts from the approvals I have seen on the board. I relied my experience and you dont understand it because you havent experienced it from Cap1 like I have.  And I would beg to differ on Discover since I just got approved with them. 

---

[Anonymous]

(Mod cut-enough of this its not FSR)

The bottom line is that Capital One isn’t in the business of handing out large CLIs to people who don’t need them. You quote their giving large limits to people with less than perfect credit while conveniently forgetting that a SL is not a CLI and many of us have told you that Capital One is much more generous on subsequent approvals which you’re not willing to do.

There is a process. Show them you need a credit limit increase through consistent usage and payment history or app another card. CLIs are a long game with Capital One. They would much rather dish out 10 $500 limit cards to people who will use them and thus be profitable than give a $5K CLI to someone who doesn’t use what they currently have.

[gdale6]

Merged into your older thread on same subject.