I recently requested a CLI for my Orchard Card converted to Capital One card. I was denied for the following reason:
"Your financial obligations reported to us by the credit reporting agency are too high."
This really bothered me because in 6-years I have only gotten a $150 increase from my initial $350 limit to $500 with a $74 yearly membership fee. I have NO late payments with Cap1 or any creditors in 8-years. So, I contacted the president of the bank last night.
I did receive a response this morning that someone in the executive office that someone would be in contact. I am crossing my fingers hoping for positive result!! Otherwise, I would have close that account on principle alone, and I really need it for AAoA after rebuilding, but it just wouldn't feel right for me to keep open.
Starting Score: USAA EX 570 EQ 574 TU 603
Thanks for your advice. At the time of my post, I didn't understand AAoA, and I was under the impression if I closed that line, it would hurt me. After reading a few posts about AAoA, I see now that even if this card is closed it will still be calculated in my AAoA, is that correct?
You are also correct in fixing the issue of the denial, hence, me paying down all my credit card debit.
Either way, I plan to close this card because it has served its purpose, and I am have been approved by Delta Amex, NFCU, and USAA, to name a few.
@mowheat73 wrote:Thanks for your advice. At the time of my post, I didn't understand AAoA, and I was under the impression if I closed that line, it would hurt me. After reading a few posts about AAoA, I see now that even if this card is closed it will still be calculated in my AAoA, is that correct?
You are also correct in fixing the issue of the denial, hence, me paying down all my credit card debit.
Either way, I plan to close this card because it has served its purpose, and I am have been approved by Delta Amex, NFCU, and USAA, to name a few.
Yes. The only immediate impact of closing that account is the loss of the CL hence it will impact only utilization at this time. But since Fico has no memory for utilization it can be corrected by paying down and all good again. By the time the account falls off the reports you have gained another 10 yrs..so you may go ahead and close it if you feel the card has served its purpose 
FINAL UPDATE!!
Okay, where to begin.
Executive office contacted me after my initial inquiry to Cap1 President. I had been declined twice since my initial inquiry with her; once due to file was open too long without activity and the other because Capital One could not locate my credit report.
After that I was done, I wrote the president again expressing my total dissatification with the executive team, and I thank her for personally taking the time to respond to me, but I would like to close my account effective immediately, this was on a Friday.
The following Monday, I received a call from someone else in the executive office, apologizing for the entire mishap and that it required me to go so high in the organizational chart to get it resolved. She continued to say she reached out to Equifax and determined it was an address issue that prevented the credit dept of accessing my report. After changing my address, they were able to pull it and grant an increase.
Funny thing is I asked for 10k, they gave me a 1k and $50 credit for my inconvenience, I laughed, but it was a small victory because it is an old account that helps me by keeping it open. I too understood from another post because of the type of card, "Orchard card," its underwriting is more restrictive than other Capital One products.
The woman in the executive office gave me her personal information, told me to keep it and call whenever I wanted another increase in the future.
I think the moral to the story is it doesn't hurt to state one's case even after several doors have been slammed in one's face.
Thank you for that information about FICO. The other issue that I would have had was from Vantage score, which seems to be gaining some ground with creditors. Although, I didn't close this account, I did close another account, my Vantagescore took at 24 point hit from it, which sucks!! Again, thanks for your insight.
