I have two capital one credit cards (QS and QS1 [upgrades from a plat]), both are low limit with high APR. I got them during my credit rebuild and rarely use them due to how low the limits are. Every time I try and request an increase i'm instantly declined. When I try and check their pre screen I am generally given 3 cards Savior One, Venture One, or a quicksilver all with high APRs (26%ish). I have a 720-750 credit score (EX being the highest). I just don't understand why I have other cards with a 12% APR and 25k limit but capital one seems me such high ris
C1 takes on a lot of starter accounts they make their money on people screwing up, and/or fees. This is the same model just about every issuer uses... screw ups and fees.
Because of their target demographic on most cards they tend to give very low limit cards to limit exposure. Which flies in the face of what I am about to say. They give cli's based on you using the card recklessly like 80-90 utilization, every month you do that for 3-6 months and they will shower you with credit limits.
As for your score it is good but not stellar you also used a screen shot of a vantage3 score which is largely meaningless where are you normally checking your score?
They just denied me a CLI while using an old (2 months old) credit report. Really CrapOne - using data from almost 2 months ago? 🤦♀️
@Beefy1212 wrote:C1 takes on a lot of starter accounts they make their money on people screwing up, and/or fees. This is the same model just about every issuer uses... screw ups and fees.
Because of their target demographic on most cards they tend to give very low limit cards to limit exposure. Which flies in the face of what I am about to say. They give cli's based on you using the card recklessly like 80-90 utilization, every month you do that for 3-6 months and they will shower you with credit limits.
As for your score it is good but not stellar you also used a screen shot of a vantage3 score which is largely meaningless where are you normally checking your score?
Cap1 is eliminating overlimit and late fees. They make most of their money from asset backed securities, which is a reason their cards don't grow. Once a card profile is packaged and sold as an ABS based on its credit rating, it's near impossible to change that card's rating, because it would requiring repackaging. Which leads to bucketed cards.
@SomewhereIn505 wrote:They just denied me a CLI while using an old (2 months old) credit report. Really CrapOne - using data from almost 2 months ago? 🤦♀️
Amex uses 2 month old data once you become a member.
I'm not a cap1 fan. I've had mine 2 years snd it's grown verrrrry slowly to just $700 CL.
Before I found this forum I had high utilization each month on it because, I thought, of the cash back on my QS1, and I wanted to grow the card. They rarely gave me an increase and only $100 at a time. Now, I have it a zero balance - do AZEO elsewhere- and it's sock drawered for aging purposes. After I've had it a while I'll just close it as I've already moved on.
my card is clearly bucketed. My daughter, on the other hand, got an initial CL on her QS1 of 3k- after 6 months they raised it to 7k. She rebuilt her credit just 3 years ago. 🤷🏼♀️
12/22 : 
@FinStar wrote:
@Alucard wrote:I have two capital one credit cards (QS and QS1 [upgrades from a plat]), both are low limit with high APR. I got them during my credit rebuild and rarely use them due to how low the limits are. Every time I try and request an increase i'm instantly declined. When I try and check their pre screen I am generally given 3 cards Savior One, Venture One, or a quicksilver all with high APRs (26%ish). I have a 720-750 credit score (EX being the highest). I just don't understand why I have other cards with a 12% APR and 25k limit but capital one seems me such high risk
When it comes to Capital One's business model, specifically with tranched accounts or specific CC offers, below is an article that provides more insight about ABS:
Very cool and informative. I am def a 'convenience' user- one who PIF every month. I used to carry a balance but no longer. Interesting how they pool the cards and why.
maybe I'll close it now instead of giving them the benefit of using it to skew their algorithms 😂
