Capital One CLI Denial

[Anonymous]

Waited until 2 days after my 3rd statement to request the CLI. The statement carried a $0 balance, so there was no need to wait for a payment to post. 

I was denied because "Recent use of this account's existing credit line has been too low". 

I do not disagree with their assessment. I charged less than $500 for the past three months on a $3K SL. I have been using my Discover (5% category spend, price and purchase protection) and NFCU (Lost luggage reimbursement - booked a few flights for short trips). 

I am not upset regarding the denial. I just wanted others to have data on what may happen if your spend is too low. Seems like they require a lot of spend (at least for me).

[Anonymous]

I was denied a CLI from them recently and one of the reasons given to me was the same as yours.  My card has a $4k limit and I've had a spend of at least a couple hundred bucks per cycle but several times I put $1000+ on the card in a cycle.  That was my behavior for 7 months with them (since my last CLI) and evidently that wasn't good enough.  Other creditors like Amex, Discover, etc. are known to give big CLIs with next to no use at times.  Evidently this isn't the case with CO, at least not for you and I.  I officially retired my QS card to the SD the other day, so now they'll get $0 usage.

[Anonymous]

I recently got the same response/letter.  It was at my 4 month mark.  My 6 months are in January so if not autoCLI, then I will hit them up again.

[Jerry45]

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@Anonymous wrote:

Waited until 2 days after my 3rd statement to request the CLI. The statement carried a $0 balance, so there was no need to wait for a payment to post. 

I was denied because "Recent use of this account's existing credit line has been too low". 

I do not disagree with their assessment. I charged less than $500 for the past three months on a $3K SL. I have been using my Discover (5% category spend, price and purchase protection) and NFCU (Lost luggage reimbursement - booked a few flights for short trips). 

I am not upset regarding the denial. I just wanted others to have data on what may happen if your spend is too low. Seems like they require a lot of spend (at least for me).

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Yeah, I was denied due to low payments on my balance. At least it is a SP

[Christhegardener]

Their reason for denying me every time I tried was "We were unable to obtain your most recent monthly payment data from the credit reporting agency". I don't even know what that means. I have tried to look it up on their FAQ for denial and also chat, but no luck. I guess I'll just have to wait for credit step to kick in. For now, $300 SL is not cutting it.

[cuthatcard]

I've been using and paying heavy on my QS1 for 2 months. Hopefully ,  after the 3rd statement ,  I can get a cli but in MMV ! 

Just going by others, here, who are or have been in "Steps " . 

Guess time will tell if lots of usage /payments vs little will make any difference ! 

[Anonymous]

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@Anonymous wrote:

I was denied a CLI from them recently and one of the reasons given to me was the same as yours.  My card has a $4k limit and I've had a spend of at least a couple hundred bucks per cycle but several times I put $1000+ on the card in a cycle.  That was my behavior for 7 months with them (since my last CLI) and evidently that wasn't good enough.  Other creditors like Amex, Discover, etc. are known to give big CLIs with next to no use at times.  Evidently this isn't the case with CO, at least not for you and I.  I officially retired my QS card to the SD the other day, so now they'll get $0 usage.

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Thanks for sharing BBS. It is good to know that I am not alone in this. I'm afraid that Capital One is going to do the same to me. I will give it some more time. I will see what it is like around my sixth month, then make some decisions. 

[Anonymous]

@JunnieBrunner -- Thanks for the info. Like I said to BBS, it makes me feel a little better than I am in the same boat with others. I actually hit six months at the end of February. I too will see what is happening around that time. 

@Jerry45 -- Sorry you were denied too! But, you're right. At least it was a SP! Hopefully, they will loosen up for us in the near future. 

@Christhegardneer -- I'm not sure what your message means either. That's a little weird and slightly annoying! Here's to hoping something moves for both of us with Capital One. 

@Cuthatcard - I'm hoping that your spending and payment pattern works and you get a nice CLI! I will be looking for your report on what happens when you make your request!

[Anonymous]

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@Anonymous wrote:

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Thanks for sharing BBS. It is good to know that I am not alone in this. I'm afraid that Capital One is going to do the same to me. I will give it some more time. I will see what it is like around my sixth month, then make some decisions. 

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ItsPossible, would you mind providing a little more information about your profile?  You're $3k SL is the same exactly limit I started with.  What were you credit scores like at the time you were approved?  How about inquires, AAoA, file thickness (number of accounts) utilization, payment history, etc?

At the time I was approved my scores were low-mid 600's, only 1-2 inquiries, AAoA was about 6-7 years.  Utilization overall for me was around 30% at the time.  I had late payments on 4 of 18 accounts on my reports.

At the 6 month mark when I requested and received my first whopping $500 CLI, my scores were in the mid-high 600's, same inquiries/AAoA.  Utilization overall was under 10%.  I believe I still had late payments on 4 of then 19 accounts.

At the 1 year mark when I requested and received my second whopping $500 CLI, my scores were in the low 700's, no inquries since getting the CO QS card, AAoA 6 months older but no significant change there.  Utilization overall was 1%-5%.  1 of my late payment accounts was cleaned up, so 3 of 19 accounts still had lates.

Most recently when denied my CLI request (card limit currently at $4k) my scores are 749/763/750, 1-2 inquiries again per bureau, AAoA 7 years, overall utilization 1%, late payments on 2 of now 23 accounts. 

I sort of figure that with my current profile if I'm not even worthy enough to receive a $500 CLI, they aren't really going off of my current profile as it certainly warrants better than a $4k limit.  I'm convinced that if you start off on rocky ground with CO, they are either extremely slow to "forgive" your past or possibly never will... even if your current profile looks very solid as I believe mine does.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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Thanks for sharing BBS. It is good to know that I am not alone in this. I'm afraid that Capital One is going to do the same to me. I will give it some more time. I will see what it is like around my sixth month, then make some decisions. 

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ItsPossible, would you mind providing a little more information about your profile?  You're $3k SL is the same exactly limit I started with.  What were you credit scores like at the time you were approved?  How about inquires, AAoA, file thickness (number of accounts) utilization, payment history, etc?

At the time I was approved my scores were low-mid 600's, only 1-2 inquiries, AAoA was about 6-7 years.  Utilization overall for me was around 30% at the time.  I had late payments on 4 of 18 accounts on my reports.

At the 6 month mark when I requested and received my first whopping $500 CLI, my scores were in the mid-high 600's, same inquiries/AAoA.  Utilization overall was under 10%.  I believe I still had late payments on 4 of then 19 accounts.

At the 1 year mark when I requested and received my second whopping $500 CLI, my scores were in the low 700's, no inquries since getting the CO QS card, AAoA 6 months older but no significant change there.  Utilization overall was 1%-5%.  1 of my late payment accounts was cleaned up, so 3 of 19 accounts still had lates.

Most recently when denied my CLI request (card limit currently at $4k) my scores are 749/763/750, 1-2 inquiries again per bureau, AAoA 7 years, overall utilization 1%, late payments on 2 of now 23 accounts. 

I sort of figure that with my current profile if I'm not even worthy enough to receive a $500 CLI, they aren't really going off of my current profile as it certainly warrants better than a $4k limit.  I'm convinced that if you start off on rocky ground with CO, they are either extremely slow to "forgive" your past or possibly never will... even if your current profile looks very solid as I believe mine does.

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Hi BBS, I think we were very similar in our profiles at the time of app. Iin fact, I remember that because you shared data points with me and because of that I applied for my third card and was approved with NFCU. Thanks again for that.

The following is very close to what was happening at the time of my Cap 1 app.

AAoA                     =9.6 years

Oldest account       = 26 years

Last late payment   =  2.3 years. Accounts Ever Late (6) .  All included in BK7 or Shortsale

Installment Accounts = 6 student loans from 1/12 to 9/13. Paid Down from $50K to $14K

Credit Cards   = None

Inquiries           =No inquiries

Derogs                 = BK7 filed 4/2014 Discharged 7/2014

                               = Shortsale of home (primary and HELOC) 9/2013

No Accounts in Collection ever, No late accounts since BK7

Fico 8 Scores

9/2016 TU 643, EX 653, EQ 667