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Cap1 chances of CLI after PC?

BrutalBodyShots
Super Contributor

Re: Cap1 chances of CLI after PC?

Gotcha.  I would agree then that since it was a starter account it would certainly be bucketed.  It looks like for whatever reason your profile justified a greater ceiling on that account though than many see, which for you is a good thing.  Perhaps since you had no credit score/profile at the time you're viewed differently than someone else starting out that did have information on their CR already.  Just thinking out loud here.  It would be cool to hear from others that were approved for a Cap One Platinum that had no credit history at all to see what their growth potential on their card was.

Message 11 of 16
Remi1
New Contributor

Re: Cap1 chances of CLI after PC?

@BrutalBodyShots 

I agree, bring on the data! Lol. I'd love if others with the Plat as starter card/no history could chime in on their growth. I've tried looking into experiences with that situation specifically before and was able to find maybe a couple, but not as many as I'd like to draw a full conclusion.

Message 12 of 16
Remi1
New Contributor

Re: Cap1 chances of CLI after PC?

UPDATE: So I got too antsy and decided to try CLI on both Cap1 and Citi last night, still 1-2 months ahead of when I planned to. I wanted to see if they were still holding the late payments against me or if they were going to cite any different reasons, partially due to curiosity and partially so that I'd have time to address them before trying again in a bit as planned. 

Citi instant denial, Cap1 "2-3 day" message. Both letters now available for me to view online. Again, wasn't expecting them to be approved, but was looking for their current reasons.

NEITHER cite anything to do with being late. Cap1 cites recent payments too low (despite paying well over min payment), and it also included the date of the report they used, which was Dec 29th 2020! Holy cow I knew sometimes they used older reports but I didn't think it would be that outdated.

 

Citi said "we used a credit scoring system in our review, which assigns a numerical value to different items on your account with us as well as your credit report. The resulting score wasn't high enough to approve an increase." This message was NOT included in my last CLI denial from them, which just stated they couldn't approve it due to a recent late payment. 

It goes on to say "this score was based on:" balances too high. 

Unfortunately Citi did not include a date for which report they used, so I have no idea how old/current the info they're basing this on is. 

Both Cap1 and Citi cited EQ reports, though.

 

Again, wasn't expecting them to be approved, but was looking for data. Glad to see neither cite the lates so looks like I may be past that bump as far as CLI goes, also glad to see the new reasons so I have time now to address them, and finally, also glad to see how old the report is that Cap1 used/uses so I can plan ahead to how long I may have to wait past actual report updates for them to pull a new report  and it to be updated in their systems. Because as of now it's lagging at least two months behind.

 

(Just in case anyone is looking for info/DPs Smiley Wink )


 

Message 13 of 16
Ficoproblems247
Valued Contributor

Re: Cap1 chances of CLI after PC?

Citi does ARs monthly, Cap1 might SP you whenever they feel like it, but I believe the reports they base their decisions off of are pulled quarterly. 


FICO 8: June '21 EX 751 EQ 746 TU 744
Message 14 of 16
Remi1
New Contributor

Re: Cap1 chances of CLI after PC?

So, another update, CLI granted:

I tried requesting a CLI again today, 4/16, and got instantly approved. They offered $300 to bring my credit limit to a total of $3,300. I quickly took it! I know it's on the smaller side but it's more than the typical $100 increases being offered lately according to these forums, and certainly better than being told no! Plus I've been stuck at the $3k for a long time so it's nice to finally break that ceiling. 

Message 15 of 16
FinStar
Moderator

Re: Cap1 chances of CLI after PC?

Thanks for the update @Remi1 and congrats on the CLI!  Locking this thread as per the CLI approval.

 

You're welcome to start a new thread in the Approval section regarding your CLI if you wish to do so.

Message 16 of 16
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