Capital One CLI Denied for Using The Card?

[Remedios]

@credit2019  it's not about doing something "wrong", it's really about who you are doing it with. 

Before my divorce, all my CC accounts were AU accounts because I didn't want to be bothered by this (yeah, I know). 

At the same time, I've always had multiple bank and CU accounts, two paid off mortgages, multiple loans, two trust funds for kids, investments/brokerage accounts, so those were the institutions I knocked first. 

Everyone played nice except for my BFF chase, they told me to go away and get more experience. I was grrrr mad 😐

Anyway, a year later, when my oldest account reached a year, they approved two cards in less than a month, $8100 on Freedom, followed by $16,700 on CSP. 

Before that, there was Discover. It grew like nuts because it was my first usable limit, I didn't have much in terms of available credit, so at that time, I was their ideal customer. Card was approved for $1000, ended up over $20,000.00 18 months later.

And so on, same story on repeat for about two years, just with different actors. 

Had I waited for Cap One, me and my $500 card would be having tons of fun right now.

You can apply for new cards if you aren't too loaded on new accounts, that can yield better result sometimes than trying to grow existing cards (it's time consuming process), or you can focus your spend on the cards you need to grow. 

With that said, there was nothing at the other side of the rainbow. I now have plenty of available fake money, but my spending habits didn't change.

So, after a certain point, it's just show and tell. 

I have no use for them, and if I did use most of them, I'd be in a world of pain.

It really works differently for everyone. It's not just income, think about stability such as time at address, time with employer, existing relationships with lenders etc.

Fun but pointless. Had I decided to collect stamps, at least I could show those off to other people. 

[Remedios]

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@FinStar wrote:

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@credit2019 wrote:

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@dragontears wrote:

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@credit2019 wrote:

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@FinStar wrote:

Another item to keep in mind, as far as Chase goes, any CLI requests are HP, not SP.  There wasn't much in your op to determine your income/DTI, AAoA, or overall history, but if you just recently obtained the CSP, the $5K appears to indicate you barely made the cusp on that approval (congrats btw).  Is that score a FICO or Vantage btw?

Are you using the other Chase card frequently @credit2019?  You mentioned "Chase Platinum" (not sure if this was from a predecessor bank or...).  Perhaps you can have it switched to a different card such as Freedom, Freedoom Unlimited or Freedom Flex depending on your spending habits.

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The platinum card and the Quicksilver I referred to are from Capital One, and they are the ones that denied my CLI.  My only chase card is the Sapphire Preferred I just got.  That is a FICO score - I am ~740 on two bureaus and 780 on one (Transunion).

As far as CLI's with Chase, I did read that the $5k I got is the bare minimum.  However I have charged the card up for the 100,000 bonus points and I am paying it off completely tomorrow.  I have transferred virtually all of my monthly bills to it.  I would imagine that after ~90ish days of heavy usage and payoffs like this, I can get a CLI from them since they aren't a crappy bank like Crap 1.  Let's hope anyway.

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Best of luck with Chase, I have had chase cards since 2014 and have never received a single CLI from them. 

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I suppose I'll cross that bridge when I come to it.  If they won't do it, eventually I'll find a bank that will.  I don't understand how some people on this forum have gotten into 6 and even 7 figures of total available credit, when it's like pulling teeth to even get a high 4 figure line with a very good score.  I have a high income - higher than some of those on here claiming to have $250k+ of total credit - and a relatively high score with no derogs at all.  It doesn't make any sense.

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It's all profile-dependent.  Just because someone may have higher income, doesn't necessarily mean they'll get the highest CL possible.  Lenders (and their UW algorithms) base their decisions on a lot of factors.  Then you also have to consider that profiles are like fingerprints, no two are alike.  

Also, some profiles likely took a while to achieve such a TCL, while others may have been able to do it in a shorter timeframe, so comparing profiles sometimes can be a futile efffort.

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Next time, plz lemme know when you're typing, it would have saved me *long version-twist ending* 

[credit2019]

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@Remedios wrote:

@credit2019  it's not about doing something "wrong", it's really about who you are doing it with. 

Before my divorce, all my CC accounts were AU accounts because I didn't want to be bothered by this (yeah, I know). 

At the same time, I've always had multiple bank and CU accounts, two paid off mortgages, multiple loans, two trust funds for kids, investments/brokerage accounts, so those were the institutions I knocked first. 

Everyone played nice except for my BFF chase, they told me to go away and get more experience. I was grrrr mad 😐

Anyway, a year later, when my oldest account reached a year, they approved two cards in less than a month, $8100 on Freedom, followed by $16,700 on CSP. 

Before that, there was Discover. It grew like nuts because it was my first usable limit, I didn't have much in terms of available credit, so at that time, I was their ideal customer. Card was approved for $1000, ended up over $20,000.00 18 months later.

And so on, same story on repeat for about two years, just with different actors. 

Had I waited for Cap One, me and my $500 card would be having tons of fun right now.

You can apply for new cards if you aren't too loaded on new accounts, that can yield better result sometimes than trying to grow existing cards (it's time consuming process), or you can focus your spend on the cards you need to grow. 

With that said, there was nothing at the other side of the rainbow. I now have plenty of available fake money, but my spending habits didn't change.

So, after a certain point, it's just show and tell. 

I have no use for them, and if I did use most of them, I'd be in a world of pain.

It really works differently for everyone. It's not just income, think about stability such as time at address, time with employer, existing relationships with lenders etc.

Fun but pointless. Had I decided to collect stamps, at least I could show those off to other people. 

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Thanks for the reply.  I agree that it can be somewhat pointless, but it would be nice to have large credit lines around in case of emergencies, to get rewards, and just general flexibility. I recently took my family on a very expensive trip to Hawaii - all in, the cost was somewhere in the $30k range. I paid for all of that using my debit card, because my credit lines are so low.  If I had a decent card with a decent credit line, I could have gotten rewards points for all of it, travel insurance with some cards, free room upgrades, and on and on.

I don't buy things I can't afford.  So I am not trying to get large lines so that I can run up huge debts.  I just want to be able to live my life and not have to constantly check what my available credit is.  I'll pay the bills off, but I have been responsible with my finances and feel like I have earned the right to have some flexibility.

Anyway, maybe I'll try with Discover next.  I have a couple of new accounts - Apple Card, CSP, and I just financed a Mercedes.  That is why I was trying to grow my credit cards up instead of out.  They'll probably deny me for number of inquiries, but I suppose it can't hurt.

[Anonymous]

Discover doesn't seem to care about inquires but do with new accounts, everything that I've read they like thin files and start with higher limits. For me, they were my first approval since opening my C1 card and they more than doubled that CL, but I haven't gotten an increase, which doesn't matter to me because the line is more that adequate for my spend patterns. Amex doesn't seem to care about new accounts or inquiries in my experience. Have you read the 3x amex cli thread? They have also rejected my attempts at cli but I already knew it was going to be a long shot with my low starting limit. I've also opened up A LOT of new accounts so it's understandable. 

BoA gave me my highest limit with 10 new accounts on my profile, so they may be nicer to you than me. Unsure how their CLI increase work, haven't tried and don't need to because my limit is very generous considering I will never use it on that card, but it's a visa signature, so they have better benefits than regular visa. 

Visa signature cards typically come with a starting limit of 5K. Some financial institutions also post the starting and Max limits of their cards so that's another option. 

[LadyJEsq]

Oh wow, sorry to hear about paying for the vacation without being able to earn rewards. Maybe what you need is a good app spree with a variety of lenders. I would suggest doing research on which lenders are generally known for offering good SL and/or regular CLI and seeing which lenders rewards meet your spending needs. You say that you have a number of inquiries, so I would include that info in your search. Some are more inquiry sensitive than others. 

Good luck in whatever you decide! 

[Anonymous]

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@dragontears wrote:

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@credit2019 wrote:

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@dragontears wrote:

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@credit2019 wrote:

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@FinStar wrote:

Another item to keep in mind, as far as Chase goes, any CLI requests are HP, not SP.  There wasn't much in your op to determine your income/DTI, AAoA, or overall history, but if you just recently obtained the CSP, the $5K appears to indicate you barely made the cusp on that approval (congrats btw).  Is that score a FICO or Vantage btw?

Are you using the other Chase card frequently @credit2019?  You mentioned "Chase Platinum" (not sure if this was from a predecessor bank or...).  Perhaps you can have it switched to a different card such as Freedom, Freedoom Unlimited or Freedom Flex depending on your spending habits.

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The platinum card and the Quicksilver I referred to are from Capital One, and they are the ones that denied my CLI.  My only chase card is the Sapphire Preferred I just got.  That is a FICO score - I am ~740 on two bureaus and 780 on one (Transunion).

As far as CLI's with Chase, I did read that the $5k I got is the bare minimum.  However I have charged the card up for the 100,000 bonus points and I am paying it off completely tomorrow.  I have transferred virtually all of my monthly bills to it.  I would imagine that after ~90ish days of heavy usage and payoffs like this, I can get a CLI from them since they aren't a crappy bank like Crap 1.  Let's hope anyway.

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Best of luck with Chase, I have had chase cards since 2014 and have never received a single CLI from them. 

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I suppose I'll cross that bridge when I come to it.  If they won't do it, eventually I'll find a bank that will.  I don't understand how some people on this forum have gotten into 6 and even 7 figures of total available credit, when it's like pulling teeth to even get a high 4 figure line with a very good score.  I have a high income - higher than some of those on here claiming to have $250k+ of total credit - and a relatively high score with no derogs at all.  It doesn't make any sense.

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You are ignoring one of the key components of a good credit profile: time.

It took me years to break the 200k TCL even with good score and income. 

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+1 to @dragontears ...

Just because you make bank does not show your credit worthiness. Keep on using credit cards responsibly: keep utilization under 30%, don't be late AND don't hold your balance over to the next month by making your minimum payment... and in 6 months you'll get a few benefits, a better score and better impulse control.

Another thing you can do to help show them you can manage the CL they give you is by using the cc often and pay it immediately so you can continue using it. If they see you are using your card and putting $5k spend on a $2.5 CL card, and it's in good standing (under 30% utilization and no late payments), it will be hard to turn you down a CLI after at least 6 months of doing this behavior.

[recoveringfrombk7]

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@Remedios wrote:

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@dragontears wrote:

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@credit2019 wrote:

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@dragontears wrote:

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@credit2019 wrote:

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@FinStar wrote:

Another item to keep in mind, as far as Chase goes, any CLI requests are HP, not SP.  There wasn't much in your op to determine your income/DTI, AAoA, or overall history, but if you just recently obtained the CSP, the $5K appears to indicate you barely made the cusp on that approval (congrats btw).  Is that score a FICO or Vantage btw?

Are you using the other Chase card frequently @credit2019?  You mentioned "Chase Platinum" (not sure if this was from a predecessor bank or...).  Perhaps you can have it switched to a different card such as Freedom, Freedoom Unlimited or Freedom Flex depending on your spending habits.

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The platinum card and the Quicksilver I referred to are from Capital One, and they are the ones that denied my CLI.  My only chase card is the Sapphire Preferred I just got.  That is a FICO score - I am ~740 on two bureaus and 780 on one (Transunion).

As far as CLI's with Chase, I did read that the $5k I got is the bare minimum.  However I have charged the card up for the 100,000 bonus points and I am paying it off completely tomorrow.  I have transferred virtually all of my monthly bills to it.  I would imagine that after ~90ish days of heavy usage and payoffs like this, I can get a CLI from them since they aren't a crappy bank like Crap 1.  Let's hope anyway.

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Best of luck with Chase, I have had chase cards since 2014 and have never received a single CLI from them. 

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I suppose I'll cross that bridge when I come to it.  If they won't do it, eventually I'll find a bank that will.  I don't understand how some people on this forum have gotten into 6 and even 7 figures of total available credit, when it's like pulling teeth to even get a high 4 figure line with a very good score.  I have a high income - higher than some of those on here claiming to have $250k+ of total credit - and a relatively high score with no derogs at all.  It doesn't make any sense.

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You are ignoring one of the key components of a good credit profile: time.

It took me years to break the 200k TCL even with good score and income. 

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Took me 11 months.

I think @JNA1 went over in less than two years.

Not a norm, but it happens. There are others too, but they.  can self identify if they wish 

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I'm sitting at ~90k 3 years after filing bankruptcy and I could potentially be higher if I routinely did CLI requests and such.  I just haven't bothered because I'm not using what I do have.

[dragontears]

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@credit2019 wrote:

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@dragontears wrote:

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@credit2019 wrote:

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@dragontears wrote:

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@credit2019 wrote:

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@FinStar wrote:

Another item to keep in mind, as far as Chase goes, any CLI requests are HP, not SP.  There wasn't much in your op to determine your income/DTI, AAoA, or overall history, but if you just recently obtained the CSP, the $5K appears to indicate you barely made the cusp on that approval (congrats btw).  Is that score a FICO or Vantage btw?

Are you using the other Chase card frequently @credit2019?  You mentioned "Chase Platinum" (not sure if this was from a predecessor bank or...).  Perhaps you can have it switched to a different card such as Freedom, Freedoom Unlimited or Freedom Flex depending on your spending habits.

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The platinum card and the Quicksilver I referred to are from Capital One, and they are the ones that denied my CLI.  My only chase card is the Sapphire Preferred I just got.  That is a FICO score - I am ~740 on two bureaus and 780 on one (Transunion).

As far as CLI's with Chase, I did read that the $5k I got is the bare minimum.  However I have charged the card up for the 100,000 bonus points and I am paying it off completely tomorrow.  I have transferred virtually all of my monthly bills to it.  I would imagine that after ~90ish days of heavy usage and payoffs like this, I can get a CLI from them since they aren't a crappy bank like Crap 1.  Let's hope anyway.

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Best of luck with Chase, I have had chase cards since 2014 and have never received a single CLI from them. 

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I suppose I'll cross that bridge when I come to it.  If they won't do it, eventually I'll find a bank that will.  I don't understand how some people on this forum have gotten into 6 and even 7 figures of total available credit, when it's like pulling teeth to even get a high 4 figure line with a very good score.  I have a high income - higher than some of those on here claiming to have $250k+ of total credit - and a relatively high score with no derogs at all.  It doesn't make any sense.

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You are ignoring one of the key components of a good credit profile: time.

It took me years to break the 200k TCL even with good score and income. 

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Thanks for the reply.  Out of curiosity, when you say years, about how long are you talking about?  My AAoA is about 3 years.  I started building credit late in life - I am 43.  I just thought that 3 years into credit building that I would have much more credit.  Perhaps I am doing something wrong, but I don't know what that is. 

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If I remember correctly, I started in 2013 with one $300 secured card and broke 200k in 2017, after that I quit credit seeking with cards and switched to mortgages so my TCL is still just over 200k.

[Anonymous]

I went from 2k cl to whatever is in my signature Since the end of January. I made sure to research cards so I didn't waste inquiries had 3 denials in that time. Chase, US Bank and a local community bank offering the Elan financial card that's the same as the US Bank card -- not a big deal but I WANT that card maybe next year lol. I had my first app spree with 8 accounts. Then 3 months later I added some more and last week I added 3 more cards and had my capital one platinum upgraded to a QS (I was denied when I called and 3 days later they sent an email with an upgrade offer), with app sprees though you may get approved but they will likely be lower limits than just waiting, some lenders will shut accounts down right after opening  if you show a new account added after them, so read up on lenders and cards if it's the route you take. Some lenders also have application rules that apply to their products and some across all lenders. 

One thing I have noticed is when I do pre screening tools and don't go ahead and apply I get a pre-approval mailer with some lenders so you can also wait for those. 

FNBO has a prequal too that shows the limit you're pre-qualified for before apping, but they are sensitive to new accounts.