CAPITAL ONE IS A JOKE . Declined My CLI

[Anonymous]

Even if you PC, if capital one has bucketted it as a subprime turd, the CL limitations will remain even if you get a shiny new rewards card.

With C1 you need to wait for a statement to cut before the computer weighs your spending and payment of that cycle for a CLI. You don't need to let a balance actually post, but you do need to wait until after the statement cuts to ask for a CLI.

If you want a higher limit, you'll need to apply for a Venture or QS as a new account (not sure of starting limits on the dining card), but for a triple pull if all you want is a high CL I would go with another issuer who single pulls.

[Jerry45]

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@Anonymous wrote:

You need one of their premium cards.  An 18 year old card is probably in their lower bucket.  I would PC it, then try again in a month.  Or you can app for a venture outright and receive a large limit, then after 6 months throw the limit onto your 18 yo card.  Make sure the old card is PC'd first to get it out of the crap bucket.

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+1 Well said. I recently Pc'd a Venture One in to a QS.

[DaveInAZ]

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@Anonymous wrote:

You need one of their premium cards.  An 18 year old card is probably in their lower bucket.  I would PC it, then try again in a month.  Or you can app for a venture outright and receive a large limit, then after 6 months throw the limit onto your 18 yo card.  Make sure the old card is PC'd first to get it out of the crap bucket.

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This ^^^^^ In my experience Cap One is very stingy on CLIs. I have a QS issued 10/2014 w/$10k SL, and I tried for a CLI a couple times - always denied for "current CL is adequate for usage" or their most common "monthly payments too low".

But as stingy as they are with CLIs they LOVE to approve you for a new card. So last August I tried their pre-qual and it indicated approval for either another QS or Venture. I rarely travel, so I app'd for a QS, thinking I'd get a mediocre SL but I'd get the spend bonus & 9 months 0% APR and then combine. Nope, they gave me another $10k SL I combined with my older QS last month, so the denied for a CLI 3 times card now has a $20k CL.

[Jerry45]

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@DaveInAZ wrote:

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@Anonymous wrote:

You need one of their premium cards.  An 18 year old card is probably in their lower bucket.  I would PC it, then try again in a month.  Or you can app for a venture outright and receive a large limit, then after 6 months throw the limit onto your 18 yo card.  Make sure the old card is PC'd first to get it out of the crap bucket.

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This ^^^^^ In my experience Cap One is very stingy on CLIs. I have a QS issued 10/2014 w/$10k SL, and I tried for a CLI a couple times - always denied for "current CL is adequate for usage" or their most common "monthly payments too low".

But as stingy as they are with CLIs they LOVE to approve you for a new card. So last August I tried their pre-qual and it indicated approval for either another QS or Venture. I rarely travel, so I app'd for a QS, thinking I'd get a mediocre SL but I'd get the spend bonus & 9 months 0% APR and then combine. Nope, they gave me another $10k SL I combined with my older QS last month, so the denied for a CLI 3 times card now has a $20k CL.

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Good info Dave. I also have the QS at 11k, but have been denied 3 times for CLI's.

[Meanmchine]

OP I feel your pain

[Shooting-For-800]

Cap One has some weird formulas that is for sure.

One of my cards went from 3,500 to 12,500 in one CLI within a year or so of opening.

Other cards would not get CLI over 3,500.  So I applied and got QS for $10,000 the same day as CLI denied.  odd.

Wanted to PC from QS MC to QS World MC.  They said no.  Then offered me PC Venture World MC instead the same day.  odd.

There are def glass ceilings on some accounts.  Just need to get a better account.

They do some odd things, but they have treated me very well when others snubbed me.

[Anonymous]

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@Anonymous wrote:

You need one of their premium cards.  An 18 year old card is probably in their lower bucket.  I would PC it, then try again in a month.  Or you can app for a venture outright and receive a large limit, then after 6 months throw the limit onto your 18 yo card.  Make sure the old card is PC'd first to get it out of the crap bucket.

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From my experience here, the PC would not impact the ability to grow the card.  It's all about the terms under which the card was started.  I started my account with them with their entry-level platinum card that my low 600's score barely got me.  Around a 700 score I went with a PC to the Quicksilver, which while it isn't their best card it is definitely a step up.  Now with an average 800 score I'm still not able to get CLIs on that account.  Limit has been stuck at $4000 forever.  Now I don't even use the card, which means more than likely I'll never get a CLI from them.  My last CLI denial reason was the same as the OP here, something to the tune of not enough use of current credit limit.  Of course with it in the SD, I'm not going to overcome that reason.  Not now, not ever.  The only reason I keep it open is because it's my oldest open revolver... similar to the OP even though it's no where near 18 years old.

[Anonymous]

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@Shooting-For-800 wrote:

Other cards would not get CLI over 3,500.  So I applied and got QS for $10,000 the same day as CLI denied.  odd.

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You see, these things aren't odd with Capital One... they are standard protocol based on the original account terms.  Whatever your original account terms (credit profile, score, etc) dictate at the time it was opened is how that account will be viewed indefinately by CO.

While I can't get my QS card over a $4000 limit, if I were to apply for a Venture tomorrow I'd probably get approved with a $20,000 limit.  It's just how they operate... sort of forcing you to take on a new account if you wish to grow with them.  Probably more than half of customers out there that run into this problem simply apply for a new card, which is what CO wants and why they probabably do this... but there are people out there like myself that see no value in their products and/or reason to take on a new card from them so they end up in the SD and losing any business they could have had from us. 

[grillandwinemaster]

If OP opens a brand new capital one venture or whatever, his AAofA will decline and he/she will loose his 850. 

IMHO- OP should charge a recurring netflix to keep it open and then SD the card for eternity.  With other cards at 50k+, this one is only staying open for the sake of the 850. 

[Anonymous]

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@grillandwinemaster wrote:

If OP opens a brand new capital one venture or whatever, his AAofA will decline and he/she will loose his 850. 

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Not necessarily.  AAoA only drops in whole numbers, never in decimals.  If the OP has an AAoA of X.9 years and it drops to X.1 years after the new card is added, FICO will score AAoA in both instances as X years so there would be no change based on AAoA. 

The inquiry and/or the "new account" reporting (AoYA dropping to 0 months) could potentially lower his score though even if AAoA doesn't change.

I say "could potentially" because it's been suggested that a buffer may exist with "perfect" scores.  What that means is that while the OPs score may be displayed as 850, perfect, his profile data may actually support a score of 860 (for example) even though the maximum it can show is 850.  This means he could have 10 points in this example of "buffer" room... so if him doing something to his profile results in a 1-10 point drop, his score may still be displayed as a perfect 850.