Cap 1 CLD. Is it bucketed?

Cashbackjunky · ‎07-16-2021

Hey all,

Last August I got the attached letter stating they reduced the limit on my QS from $11k to $5k.

I was using the card often just always PIF. I'm thinking since it didn't report a balance, they viewed it as me not using the card.

I was pissed when I got this notice, so I shifted the spend I had on my QS to my other cards, out of spite.

I've spammed the CLI button PLENTY of times since last August and keep getting a reply stating "usage too low", or something of the sorts.

My question is: do you think if I started using it more and let some charges report, they'd be more apt to giving a CLI? Or do we think this account is bucketed and a lost cause?

Cheers

850

INQ:
1

850

INQ:
5

837

INQ:
7

TCL: $646.75k CCs:27 AAoA: 6yr 11mo Util: ~1% Derog: 0

Mortgage: $206.4k Car Loan 1: $17.2k Car Loan 2: $19.1k

Remedios · ‎07-16-2021

It's not "bucketed", but you got a CLD during the time Cap One did some portfolio right-sizing.

Since the CLD, you didn't use it, so what's their motivation to increase it?,

You can try to get CLI by recycling your limit multiple times throughout the month for the foreseeable future at the expense of the rewards you'd get by using other cards, or you can let it be.

FinStar · ‎07-16-2021

Well, it's probably unlikely that your future usage or actions could restore the $11K over time, IMO. You can try and see, but other members who found themselves in similar situations from last year's Capital One's 'haircuts' haven't seen much success in getting significant CLIs. Your decision, of course.

CreditCrusader · ‎07-16-2021

"I was pissed when I got this notice, so I shifted the spend I had on my QS to my other cards, out of spite."

Doing ANYTHING to Cap 1 out of spite will generally not end well for you.

Some CCCs increase large limits with minimal use. It's an axiom at this point to say that Cap 1 is 100% the opposite.

In my wallet: AMEX Gold (NPSL), AMEX Green (NPSL), Local Credit Unions (2 cards: VISA, MC, $25,000 CL each)

GrandBay · ‎07-16-2021

@Cashbackjunky It seems that you have $35k in total exposure w/CapOne. You could be spiteful and they can too! By reducing your total exposure to $10k! I would recommend using the cards that give you the best return and not chase a CLI w/CapOne as it does not seem thats where their interest lie.

Anonymous · ‎07-17-2021

wow, I didn't know that Capital one was doing that. My largest card with them is a $25,000 CL. I use it for about $2,000 a month but ran it up to about $15,000 a few years back and paid it off right away. I hope they do not cut my CL since I am only using 10% of the CL each month. But time will tell. I am sorry that this happend to you.

Thanks for the post

Mark