Help! Cap1 CLI denied to to large financial obligations??

[Anonymous]

Hello Everyone! Longtime lurker first time poster. I have a QS1 with a 7000cl. Started at 3000 1 year ago, received an 4000auto increase at 6 months. Last week I applied  for a CLI and denial letter said it was due to a large financial obligation reported by CRA. I tiried calling the recon line but told no one can override the automatic decision. I tried the chat, told the same thing. Am I out of options? Is there anything else I can do that has worked for someone else. Also the financial obligation is a $72000 student loan in good standing never been late.

My FICOs are all >760

no baddies

util 6%

Aaoa 5yrs

4 inq

[DaveInAZ]

Cap One is pretty stingy with CLIs, and yes, it's all automated, but they love to approve new cards. Try their pre-qualification page and see if they'll approve you for a new card. If so you get the spend bonus & 9 months 0% APR. At 6 months you can combine it the QS1, adding its CL to QS1, or just enjoy the CL between the two. Google "Capital One pre-qualifier" and you'll find it.

[Anonymous]

Thanks for the suggestion! We are plannng to buy a house within next couple of months so I don't want any new inquiries or accounts but I need to make some improvements on my current home and had hoped to use my QS1. I just knew with my credit score and payment history I would be good for another 3k...nope

[trant3]

no way to overturn this

[joltdude]

Nope... Sorry.. Cap One considers outstanding Student Loans as major debt these days...Got any other cards you can do some SP love to?

if you want to up your limit, id wait until after you close and a few days after keys in hand....

Otherwise just app (after your home purchase) for a new card...

Wish i could tell you theres options but its all algos and the computer these days... 

-J

[Kidcat]

Hi OP what is your stated income with Cap 1...

also your utilization is 6% but what is the actual dollar amount 

could be income to balances issue

just guessing

[Anonymous]

Income >150k
Total cc bal around 2400(across 4 store cards) but cap 1 was pif at time of request. I use it for my monthly bills but pay it regularly. Total student loans just over 100k. I've got one big one (this is really two separate loans but they report it as one consolidated loan). Then I have two more smaller loans. I'll most likely pay the balance of my credit cards and the two smaller loans soon so that my total debt numbers will be a little lower, not sure how much that will help my case with Cap 1.

[Anonymous]

Honestly, this sounds like another of those BS excuses that I've heard so much about lenders generating lately in response to CLI requests. They (Cap One) ought to have been aware of that student loan from having reviewed your credit report during the application, and if they approved you then and gave you a CLI more than doubling your SL later on, and (as you report) everything else about your credit is OK, then yeah, they're just being unreasonably stingy.