CAP ONE CLI NOT!

[Anonymous]

So I decided to app for a CLI on my CAP ONE account and was denied. The reason: "Not making large enough monthly payments"

I looked at my payment history. I have always made no less than 100.00 payments, up to 500.00 payments with Min payment due of 40.00! I only carry a 1000.00 - 1500.00 balance. I didn't understand this decision so I called CS to ask what the reasoning is and what would be a "Large enough" monthly payment. They had no answer. I tried to get them to reconsider the decision and was told that they do not do recons anymore but I can re-app as many times as I wish. 

Has anyone else had difficulty getting a CLI from Cap One? Or is it just me?

[Anonymous]

Cap One has killed many trees sending me CLI denial letters.

[Anonymous]

Thing is, I got an auto CLI of 3500 7 mo. ago! Now I cant get squat!

[Anonymous]

realistically if you're carrying a $1,000-$1,500 balance and only making $100-$500 payments then it makes sense. pay the balance in big lump sums and show them you can handle the CL given. and, as i always state, if you aren't using the CL and showing cap1 you deserve a CLI then you can't expect it.

they aren't given out on a whim they're deserved. your overall profile has to support it and you have to keep in mind your overall exposure. there are many factors that take place. not "well the account is x months old so i deserve an increase"

unfortunately it doesn't work like that. well, i say unfortunately, but if it did work like that then we will be right back in the credit bubble of 2009

[lindsaydruart]

I asked EO this question while dealing with some old lates and was told your payments need to be more than the balance you leave behind. So, if you have a 1500 balance at the end of the month, you need to have paid at least that throughout the month. 100 to 500 here and there with that balance isn't going to cut it. I try not to ever leave behind more than a 300 balance but I make payments well over $600 each month.

[Anonymous]

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@Anonymous wrote:
realistically if you're carrying a $1,000-$1,500 balance and only making $100-$500 payments then it makes sense. pay the balance in big lump sums and show them you can handle the CL given. and, as i always state, if you aren't using the CL and showing cap1 you deserve a CLI then you can't expect it.

they aren't given out on a whim they're deserved. your overall profile has to support it and you have to keep in mind your overall exposure. there are many factors that take place. not "well the account is x months old so i deserve an increase"

unfortunately it doesn't work like that. well, i say unfortunately, but if it did work like that then we will be right back in the credit bubble of 2009

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Yea..I guess that does make sense. The only reason I wanted the increase is because my daughter is getting married and weddings are EXPENSIVE! I just wanted the extra on hand. Guess I'll just pay it way down and use it then pay it down again and repeat then try again.

[Anonymous]

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@lindsaydruart wrote:

I asked EO this question while dealing with some old lates and was told your payments need to be more than the balance you leave behind. So, if you have a 1500 balance at the end of the month, you need to have paid at least that throughout the month. 100 to 500 here and there with that balance isn't going to cut it. I try not to ever leave behind more than a 300 balance but I make payments well over $600 each month.

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I did not know that. Good information. All of this info makes the denial make more sense. If the CSR would have explained that to me I would have understood in the first place. 

[Anonymous]

i ask one every week haha. the last reason they stated is that: my montly payment is too low. and i pay around 600 each month. 

[Anonymous]

yes generally capital one likes to see high payments. just this past month, i used my quicksilver for everything which totalled to about 4k. i payed 3k this month and hit the cli button and got a 2k increase.

[MyLoFICO]

Cap 1 is nerve wracking for sure. My limit on each of my QS's is 1750 & 2150 and I made $1300 payments on both twice last month and I got denied just now for a CLI. lol. Oh well. Good thing I am paperless.