Cap 1 - product change and credit limit increase

[dragontears]

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@Anonymous wrote:
Thx . I'll will try.

Now how can I decrease my Chase Freedom high APR without a hard pull?

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I don't recall anyone being able to get chase to lower an APR even with a HP

[Wolfeyy]

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@UncleB wrote:

Im stealing that. l0l

[Anonymous]

Here's my experience with a recent Cap1 Platinum Visa PC and CLI.

I first requested a CLI and was denied for not using the card enough. There's a 0 balance on the card and it's been that way for about a year to two years. After the denial I started using the card and PIF right away for a couple of weeks, I put about $300-400 on it. I then called and requested a PC and CLI, they offered me the QS1 and I took that ( I eventually want to get it changed to a QS or Venture, but the only offer available was the QS1). I was then transferred to someone regarding my denied CLI, they again denied me over the phone. The person I was speaking with offered to transfer me to a manager and I said please do. I explained to the manager that I don't use this card much because of a lack of benefits and the low credit line. I told them that all of my other cards are over 3x the CL and some over 8x the CL. I said I have a large purchase coming up and that this card won't support due to the low CL. I said I might use this card now that it has the cash back rewards if I can get a limit increase. They said they would have to submit that for a manual review (I think they said review was sent to the underwriters), I said to go ahead and submit the request. I was then approved for a 3x CLI on the now QS1 card after a couple days. The manual review was requested the same day about 30 min after I was approved the PC to QS1. I can get exact dates if you're interested when I get home. 

EDIT: Here are the dates...

Not sure what date I requested the on-line CLI, but if I remember it was only a day or a couple of days before the denial. 

3/5/16 - The inital on-line CLI request was denied - "not enough recent paymets to establish a recent payment history"

4/21/16 - Called.  I was imidiatly PC'ed from Plat to QS1. Requested manual review for CLI

4/25/16 - CLI was incresed 3x

EDIT2: I wanted to add that there were no HPs for the CLI

[Anonymous]

Oh wow. Great experiences. There's hope for me yet.

They denied the cli because I got a PC (platinum to QS). In retrospect I was too antsy (newbie issues), I should have played the long game. Cli wait then PC.

I like the idea of calling and asking for a manual review. Maybe I'll try that tomorrow.

As for that chase card -- each time I think of the ridiculous APR I get angry. With them it is like a life sentence - oh you had credit issues , you don't deserve a second chance 😡

[RonM21]

Glad I read this because I was going to PC then ask for a CLI. They've given me auto increases around this time coming up the last couple of years and I haven't asked for a cli yet. I would've messed that up.

[UncleB]

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@RM21 wrote:
Glad I read this because I was going to PC then ask for a CLI. They've given me auto increases around this time coming up the last couple of years and I haven't asked for a cli yet. I would've messed that up.

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You might have been OK either way.

It seems it's YMMV when it comes to a PC interferring with a CLI; most people in the past have reported that it had no impact.  That doesn't mean things haven't changed, and it doesn't mean there might be some exceptions to the "rule".

I will have a data point in three weeks when I try for a CLI on my QS MasterCard.  I should be eligible around June 4, but I had a PC in February.  I'll be able to report back if the PC causes me to have to wait an additional two months for the CLI.  (In my case I'm OK with it, since I had been trying to get that PC for literally years).  Either way I'll report back for others to consider. 

[Anonymous]

Hey There UncleB,

Thanks for all the info thus far !

I was hoping to hear the conclusion to your situation

I imagine the community wouldn't mind hearing it as well.

Sorry to drudge up old info, just want to see if i can help myself and some others in the process for this CAP1 game.

Thank You Kindly.

[UncleB]

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@Anonymous wrote:

Hey There UncleB,

Thanks for all the info thus far !

I was hoping to hear the conclusion to your situation

I imagine the community wouldn't mind hearing it as well.

Sorry to drudge up old info, just want to see if i can help myself and some others in the process for this CAP1 game.

Thank You Kindly.

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Hello there!  No problem at all... sorry for letting one slip by! 

I do have some data points... my June CLI on my QS MasterCard was denied, but not because of the PC, but because of lack of usage. 

This was especially interesting to me, since I did a BT for $2200 back in March (my credit line on that card is only $3900), and had it PIF within a month.  On the other hand, my QS Visa only had trivial swipes but did have one single charge for $1500 back in February, and it was given a CLI of $1k.

So, while I still can't quite say so definitively, it appears (at least in my case) that the PC didn't impact my CLI... I would have more confidence in that statement had the CLI been approved, but I still think the chances are pretty good the true issue was the lack of usage as the denial stated.

To me, the "big" take-away is that Capital One apparently doesn't 'count' balance transfers as usage, at least when it comes to giving CLIs.  Also, some here say that increased usage driving CLIs is a 'meme' (they're entitled to their opinion) but to me it is quite clear that usage does, indeed, make a difference, at least with Capital One. 

In my own case, I have regular usage I could run through the QS MasterCard to satisfy the requirement, but I'm getting 3% on those purchases using my Sam's Club MC and I would only get 1.5% if I used the QS, so it would literally cost me money (in the form of lost rewards) to generate usage to justify a CLI.  While CLIs are always nice, I don't quite want it badly enough to sacrifice rewards, so for the time being it will likely just stay where it is.  The same can be said for my QS Visa Signature... the June CLI I got on it will likely be the last for a while (if not indefinitely).

Hope this helps! 

[Anonymous]

Awesome ! Thank you for the clarification . I just the QS1 JUNE 22 and put 1700 through a 300 limit in a month. Same thing though for me, I have Chase freedom and Barclay rewards as well as discover with matching so the cap 1 is sitting like a lonely duck with nothing to do. I gave it to my wife to use on a trip for gas and food etc.. as there is no interest for 7 months so it is usefull there. Any way I hit the luv button today and got the 100 dollar mind melting cli offer. I just let it go, didn't decline just didn't accept. Lots of folks on here Olay the waiting game with quite a bit of success. Since I am not at risk to loose a cli pre credit steps ( still have till November ) I'll just wait it out and see if it can get better at 90 . So for quick refrejce that is a cli at 58 days I believe if my math is addingg up.

Any way thanks for the pointers here . Helps me gauge next steps.