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Capital One are such liars...

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stonedog23
Frequent Contributor

Capital One are such liars...

On 6/3 I applied for a CLI on my year’s anniversary with the  Quicksilver. This account started at a $1000 and increased to $1500 5 months later. I received a denial letter a few hours later with incorrect information as reasons for denial. The first point was my revolving credit was too high in relation to limits.  I’m only using 12% of 103K. Then it had my Fico Equifax score at 638 when it’s 698. The customer service rep assured me that Capitol One “doesn’t just make up numbers.” Then I asked her are you using scores from when the card was obtained a year ago. She assured me no. I asked her is this card in the bucket and she danced around that question as if she was a gloved man on stage with his 4 brothers. It is extremely frustrating to work hard to be denied with information that you know is incorrect. The card has my monthly Canary payment on it, but that is going to be the extent of it moving forward.

NFCU GoRewards Sig ($40,000), NFCU Cash Rewards ($33,000), PenFed Power Cash ($25,000), FNBO Evergreen Visa ($20,000), Bread Financial Rewards Amex ($19,150), PNC Cash Rewards ($18,400), PNC Cashbuilder ($18,700) , Citi Double Cash ($9600), Discover It Cash ($9000), Walmart MC ($8000), Bank of America Unlimited Cash Rewards ($7500), Fifth Third Unlimited Cash Back Mastercard ($7500), Wells Fargo Active Cash Sig($7000), Apple Card ($6000), Amex BCE($6000), Amex ED($6600), X1 Card ($5000), PNC Points ($8000), Amex Cash Magnet($2000), Fifth Third Truly Simple ($4000), Truist Spectrum Cash Rewards($4500), Truist Bright Card($4500), CapOne Quicksilver(Bucketed @$1500), US Bank Cash+ ($5,000), US Bank Cash+ ($1,000), WF mortgage 195K Fico 8: EQ 766, TU 763, EX 753, FICO 9:EQ 829, TU 812, EX 791, AAoA-97 months, AoOA-28 years
Message 1 of 23
22 REPLIES 22
Anonymous
Not applicable

Re: Capital One are such liars...

They most definitely use old scores.  I requested a CLI with them back in early May.  They denied and the letter quoted a score that was from February.  Tried again 2 weeks later and approved for CLI.  

Message 2 of 23
stonedog23
Frequent Contributor

Re: Capital One are such liars...

My score on my letter seems to be at least a year old.

NFCU GoRewards Sig ($40,000), NFCU Cash Rewards ($33,000), PenFed Power Cash ($25,000), FNBO Evergreen Visa ($20,000), Bread Financial Rewards Amex ($19,150), PNC Cash Rewards ($18,400), PNC Cashbuilder ($18,700) , Citi Double Cash ($9600), Discover It Cash ($9000), Walmart MC ($8000), Bank of America Unlimited Cash Rewards ($7500), Fifth Third Unlimited Cash Back Mastercard ($7500), Wells Fargo Active Cash Sig($7000), Apple Card ($6000), Amex BCE($6000), Amex ED($6600), X1 Card ($5000), PNC Points ($8000), Amex Cash Magnet($2000), Fifth Third Truly Simple ($4000), Truist Spectrum Cash Rewards($4500), Truist Bright Card($4500), CapOne Quicksilver(Bucketed @$1500), US Bank Cash+ ($5,000), US Bank Cash+ ($1,000), WF mortgage 195K Fico 8: EQ 766, TU 763, EX 753, FICO 9:EQ 829, TU 812, EX 791, AAoA-97 months, AoOA-28 years
Message 3 of 23
Anonymous
Not applicable

Re: Capital One are such liars...

Not only do they potentially use old scores they don't seem to use FICO 8 scores.


I don't know which ones they use but when getting approved for $2K Discover miles 0% for 14 months I got a meager $300 approval from C1.

Message 4 of 23
Anonymous
Not applicable

Re: Capital One are such liars...

Yep. Capital One is not as generous like it used to.
For example, I am paying in between $390 to $1100 monthly on capital one mostly on 2017. On 2018 I am paying smallest $39 minimum for just one month. But the rest is way more than minimum each month. When you are paying more than $1000 several times and around $2000 few times each month since Jan, that is not considered minimum payments. However since 2016 until now, they keep saying I am paying only minimum payment on my cli request. Yep something is wrong with the system. Will talk to some reps after my FICO scores refresh next week.
Message 5 of 23
SomewhereIn505
Valued Contributor

Re: Capital One are such liars...

I always take what their CSR says with a grain of salt.

 

As far as scores goes, has your score updated? They might have been using an old score. I try not to ask for CLI until I know my updated score has posted in their system.

 

Hang in there. My QS and QS1 likes to hang out in the SD now that I have better cards.


3/16/18 FICO9 TU-700 EQ-669 EX-716
6/26/18 FICO9 TU-750, EQ-672, EX-789

Message 6 of 23
Anonymous
Not applicable

Re: Capital One are such liars...

A few points, OP.

One, denial reasons dont have to be the "real" reason for denial. Really all a lender is saying is that "we aren't giving you a CLI because something in your profile isnt what were looking for."

Regarding your utilization, while it's at 12% due to your high overall limits your debt is greater than $12k. In terms of dollars, not percentage, that may represent quite a bit of risk on your profile, relative to your income, etc.

As for the score, it's important that your comparing apples to apples, meaning the same scoring model is being used with that EQ data and that the scores are being generated at the same time.

Finally, if your account started at $1000 it means it's a "starter account" and very well may not grow much more than the $1500 it has made it to. Even if your score became an 850 today, Cap One will still view your account as a beginner one and not allow it to grow as a result.

Message 7 of 23
Anonymous
Not applicable

Re: Capital One are such liars...


@SomewhereIn505 wrote:

I always take what their CSR says with a grain of salt.

 

As far as scores goes, has your score updated? They might have been using an old score. I try not to ask for CLI until I know my updated score has posted in their system.

 

Hang in there. My QS and QS1 likes to hang out in the SD now that I have better cards.


Hi, will they provide us the FICO scores based on their system if we asked? Actually my FAKO score from capital one credit wise currently is 733 (same with creditkarma) and will go up again once it is updated. I am not sure if they go by FICO or FAKO free score or the old score the first time I applied (15 y, 9m,11y, 2m, 11y,2m). If they go by the old score when you first applied like some people said that would be weird. The oldest card was bought over by other bank and has one late (2015) because of $2 (yes, $2.00) balance and automatic payment was turned off with none fault of mine. I don't think that would hurt me but still Capital One is not very generous with me. Smiley Sad

Message 8 of 23
Anonymous
Not applicable

Re: Capital One are such liars...

The TU VS 3.0 score provided weekly on your Capital One account is not at all accociated with the FICO score they use for your account maintenance.

Message 9 of 23
stonedog23
Frequent Contributor

Re: Capital One are such liars...


@Anonymous wrote:
A few points, OP.

One, denial reasons dont have to be the "real" reason for denial. Really all a lender is saying is that "we aren't giving you a CLI because something in your profile isnt what were looking for."

Regarding your utilization, while it's at 12% due to your high overall limits your debt is greater than $12k. In terms of dollars, not percentage, that may represent quite a bit of risk on your profile, relative to your income, etc.

As for the score, it's important that your comparing apples to apples, meaning the same scoring model is being used with that EQ data and that the scores are being generated at the same time.

Finally, if your account started at $1000 it means it's a "starter account" and very well may not grow much more than the $1500 it has made it to. Even if your score became an 850 today, Cap One will still view your account as a beginner one and not allow it to grow as a result.


I'm going by their letter which mentioned my percentage per available amounts, it didn't mention totals. Despite when the scores are generated, I don't have a 60 point difference on any model from lowest score to highest score with Equifax. The fact is the bucketing of this account, which I referred to in my original post, but couldn't get Cap One to admit to. You're right, I can get an 800 and it still isn't likely to grow just as I figured. A supervisor contacted me but I haven't spoken with him. Wonder if he'll tell me the truth?

NFCU GoRewards Sig ($40,000), NFCU Cash Rewards ($33,000), PenFed Power Cash ($25,000), FNBO Evergreen Visa ($20,000), Bread Financial Rewards Amex ($19,150), PNC Cash Rewards ($18,400), PNC Cashbuilder ($18,700) , Citi Double Cash ($9600), Discover It Cash ($9000), Walmart MC ($8000), Bank of America Unlimited Cash Rewards ($7500), Fifth Third Unlimited Cash Back Mastercard ($7500), Wells Fargo Active Cash Sig($7000), Apple Card ($6000), Amex BCE($6000), Amex ED($6600), X1 Card ($5000), PNC Points ($8000), Amex Cash Magnet($2000), Fifth Third Truly Simple ($4000), Truist Spectrum Cash Rewards($4500), Truist Bright Card($4500), CapOne Quicksilver(Bucketed @$1500), US Bank Cash+ ($5,000), US Bank Cash+ ($1,000), WF mortgage 195K Fico 8: EQ 766, TU 763, EX 753, FICO 9:EQ 829, TU 812, EX 791, AAoA-97 months, AoOA-28 years
Message 10 of 23
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