Capital One CLI denial Data

[beezer32]

I have the QS1 and the Platnium, entry level credit steps cards. Both are exactly 12 months old as of December 23, 2016. I received CLI's at 3 months and 6 months, as expected from researching these forums. For the better part of 6 months, I carried a balance on both cards resulting in a UTI of 40-50%. For the last 3 months, I have quadrupled my monthly payments on both cards and for my most recent payment, I dropped a larger $500 payment on each card which signifcantly helped the UTI and balances into the 'green'. On December 24, I hit the 'luv' button on the website. It came back with the '2-3 day message'. Immediately checking my documents in the message center, there were denial reason letters for each card. The reason: "Monthly payments too low". Note: I have never paid only the monthly minimum. Never. I have always doubled, tripled or quadrupled the payments from day one. Plus, as mentioned, the large $500 payments before the last statements cut in December. I honestly don't have an opinion about these denials but just wanted to share the data points leading to the denials. As you will see, I think that the reason for the denial is more so for having a more than 40% UTI and carrying a high balance. The defined reason (monthly payments too low) seem a bit misleading, as they weren't in my eyes. It does however translate in denial purposes that I have carried too high of a balance for their taste. I just wanted to provide these data points for anyone that gets the same message from Capital One. My plan is to pay a couple of hundred more on each card before the 13th statement cuts in January and try again.

Time line (QS1 & Plat nearly identical usage/payments):

Day 0: >>> Operned $300 SL / $0 BAL

Day 91: >>> CLI to $750 / $300 BAL

Day 181: >>> CLI to $1300 / $700 BAL

Day 366: >>> CLI Denial / $751 BAL

[Anonymous]

Reasons given for denials from any creditor, not just Capital One can literally be anything they want it to be.  They can throw a dart at a dartboard of reasons and just give you whatever one.  Sometimes they make no sense so I put no value in them at all.

My last reason for a CLI denial from CO was that I wasn't showing enough usage with my current limit, or something to that tone when I had put $1000-$2000 through the card multiple months.  Yet there are people that put $10-$20 through the card for several months and get a CLI just fine.  Clearly that doesn't make sense.

I think all reasons for denials should be eliminated and simply say "There's something about your profile that we don't like right now so you aren't getting a CLI."  They may as well keep it vague rather than give some BS answer.

[KSK1912]

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@Anonymous wrote:

Reasons given for denials from any creditor, not just Capital One can literally be anything they want it to be.  They can throw a dart at a dartboard of reasons and just give you whatever one.  Sometimes they make no sense so I put no value in them at all.

My last reason for a CLI denial from CO was that I wasn't showing enough usage with my current limit, or something to that tone when I had put $1000-$2000 through the card multiple months.  Yet there are people that put $10-$20 through the card for several months and get a CLI just fine.  Clearly that doesn't make sense.

I think all reasons for denials should be eliminated and simply say "There's something about your profile that we don't like right now so you aren't getting a CLI."  They may as well keep it vague rather than give some BS answer.

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So true. Maybe they should start giving the actual reasons so that people can learn how to manage their credit lines with the creditors.

[Anonymous]

That would certainly be nice, that's for sure!