Denied Capital One CLI - 7th time

[Anonymous]

omg I thought it was just me! I've had 2 capital one cards since 2011. one is $300 and the other is $225, and every so often I ask for an increase and NOTHING! I recently got the walmart card, after having paid the syronchy one that went to collections, and i managed to get an increse after a few months. i was shocked at that one lol

[Anonymous]

For some reason Capital One seems more generous with their Walmart co-branded card with CLI, it could be the influence of Walmart.  I got the card last November with a $300 limit and requested a CLI at the beginning of this month for the first time but was rejected.  A few days later I logged into my account and saw the credit limit was raised to $1800.  I still haven't received any notice from Capital One about them raising the limit.  My Capitol One Student Journey and Kohl's store card backed by Cap One got rejected for CLI earlier this year despite not getting any CLI in over a year and with monthly usage.  I'll try again with those 2 cards before the holidays and hope they're more generous at that time.

[Anonymous]

just because I called capital one earlier, i went into the statement folder to look for the cli letters. in feb of 2020, one of the reasons was 'Recent use of this account's existing credit line has been too high' but in feb 2021, it said 'it was too low' LOL yeah because i paid it off in hopes of an increase! these are my oldest accounts on my own and I dont want to close them but blah!

[Michizane]

Yep, I'm in the same boat. I have 3 Cap One card, and put both of them away about 2-3 years ago (Platinum Secured and the BuyPower Card). They are at $750 and $500 respectively, and Cap One has kept the Platinum in secured even though I think it wasn't after the first auto-cli they gave me 8 years ago. To be fair I never asked for a CLI on the BuyPower Card because it sucks IMO, and I think it is no longer being offered. 

As for my QS, I'm at a 4K CL and it got an auto increase from 2.5K after the first 6 months...and since then, no dice. They keep telling me my spending is too high or too low (over the last couple months it says too low since I pay off the balance monthly to not incur any interest). Asked for another CLI yesterday and they told me spending is too low and too many inquiries (closed on a house 3 weeks ago, and got approved for Chase Amazon and Amex BCP).

After that message I applied and got approved for the PayPal CB MC. I will be moving all my QS spend to the PayPal card and retiring it (I will not close any of the cards...I'll just put them in my storage wallet and only use them once in a while to keep them active). I like how quickly and easy it is to get and redeem cashback, but I wanted to replace it with a 2% card.

[Horseshoez]

@Michizane, in your shoes I'd close that CapOne secured card in a heart beat; why let them keep your security deposit for literally zero benefit to you?  I opened one of their secured cards last year and realized it was totally insufficient for my needs and closed it in less than 7 weeks; the good news is it is still reporting and helping my AAoA, so there really is no downside to closing the card.

[Brian_Earl_Spilner]

You can grow a bucketed card with significant spend. Normally I'd tell you to put $1500 through it a month for 3 months to get an increase, but since the pandemic started they've been giving out $100 increases so I don't know if they would give more than that right now without even more spend.

[Michizane]

---

@Horseshoez wrote:

@Michizane, in your shoes I'd close that CapOne secured card in a heart beat; why let them keep your security deposit for literally zero benefit to you?  I opened one of their secured cards last year and realized it was totally insufficient for my needs and closed it in less than 7 weeks; the good news is it is still reporting and helping my AAoA, so there really is no downside to closing the card.

---

Only reason I'm keeping it open is because its my oldest card (like 9 years old), and don't want to negatively impact my AAoA. I only paid a $50 security deposit and got a $250 limit in the beginning...then an auto-cli to $750 within the first year of having it. It also have a $39 annual fee which sucks, and for some reason Cap One has no official process to unsecure it as per their Customer Service...it is an automated decision. I will call them and ask if they will continue to report if I close the account (I don't think they will continue to report indefinitely on a closed account), if so I would close it in a heartbeat. 

[Horseshoez]

---

@Michizane wrote:

---

@Horseshoez wrote:

@Michizane, in your shoes I'd close that CapOne secured card in a heart beat; why let them keep your security deposit for literally zero benefit to you?  I opened one of their secured cards last year and realized it was totally insufficient for my needs and closed it in less than 7 weeks; the good news is it is still reporting and helping my AAoA, so there really is no downside to closing the card.

---

Only reason I'm keeping it open is because its my oldest card (like 9 years old), and don't want to negatively impact my AAoA. I only paid a $50 security deposit and got a $250 limit in the beginning...then an auto-cli to $750 within the first year of having it. It also have a $39 annual fee which sucks, and for some reason Cap One has no official process to unsecure it as per their Customer Service...it is an automated decision. I will call them and ask if they will continue to report if I close the account (I don't think they will continue to report indefinitely on a closed account), if so I would close it in a heartbeat. 

---

That's the point I was trying to make; closing it will not negatively impact your AAoA until it drops off your report years from now.