@xellos2099 wrote:So i get my Capital One card back in feburary with limit of $1000 and i figure now would be a good time to request a CLI. I did it with capitalone.com last night and i got the reply today. I got rejected but the reason is weird, it say
Credit bureau information is missing or unavailable and it mention Equifax. Which is super weird since i log in my equifax account and it clearly can see the captial one. Should I give capital one a call and see what's up?
I wouldn'y say 3 months is a good time to request a CLI. Known standard around here is 180 days.
@xellos2099 wrote:ok but that was not the reason they give to reject the cli. Either way i will need to call it in and see what's going on
all they're going to say is that you have to contact the credit bureaus
if your Cap1 card is reporting accurately to EQ, and you have no reason to suspect otherwise that your EQ report is borked, simply wait for 6 months/6 statements and see if you're still getting that denial reason
I honestly wouldn't bother contacting them about it - your EQ report is probably fine and Capital One's bot simply spit out whatever reason code, like they decided to deny the CLI first, a reason for that was a distant 2nd priority. They automate everything so their denial reasons often don't make sense anyway. The law doesn't require it make sense, they don't need to provide the "real" reason or even the "main" reason - they just need to give you something. Capital One also isn't known to recon, so that time would be most likely wasted.
I would just wait and try again at the 6 month mark. If still no dice, your card is "bucketed" and you'd have much more luck opening a new account when your credit profile has strengthened more, or consider spending that effort on other issuers. As stingy as they are with sub or near-prime profiles, they are really generous with prime profiles. There's a lot of people who can't even nudge a $300 CLI out of Cap One, but they turn around and give the exact same person a $10K+ SL on a new card.
I've had a very non-typical experience with them - they started my Savor One at $5K and gave me a $5K CLI at the 3 month mark. Two of my scores were under 700 at original app time, not a clean profile, and I didn't give them heavy spend before the CLI, either. Come to think of it, I didn't follow any of the traditional myFICO advice for Cap One and it didn't matter...I'll probably never understand what causes them to like or dislike a profile cause that didn't make any sense.
VS4: 709
Don't let those "reason codes" spoil your weekend either. They're meaningless. These companies literally throw them against the wall and put them there. Very rarely are they relevant.
While I do love Capital One and they have been very good to me, my luck with the CLI's is about the same. I feel like the "we can't verify your identity" is almost there go to response when it comes to limit increases. They have given me the exact reason that you got several times.
A few years back I was pre-qualified for the Quicksilver card and when I applied I had to go through the fraud steps which was fine. I initially passed the identity verification and after about a week of not hearing anything on the status of my application, I called customer service and was told I need to speak to the fraud department - who again ran me through the identity verification steps. The fraud department said I passed and everything looked good and then a little over a week later I get a letter in the mail telling me that my application was denied because they could not verify my identity. Needless to say I was not a happy camper.
I decided to sit down and type up a letter to their executive offices that explained the entire scenario - including the hoop jumping while doing jumping jacks to prove my credit worthiness. I also included that under 12 CFR 1002.9(a)(2) and (b)(2) it states that a creditors reasoning for denial "must relate to and accurately describe the factors actually considered or scored by a creditor".
Seeing that I was already a Capital One card holder and have already passed two separate identity verifications administered by Capital One, that perhaps we were teetering on discriminatory credit practices on Capital one's part since the reason they sent me was anything but accurate.
I kid you not, I woke up a little over a week later One Saturday morning and open my email to find an email from Capital One congratulating me on my approval for my Quicksilver card. 😂🤷
Starting Score: 570
