I just don’t understand how capital one makes their decisions

[SUPERSQUID]

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@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

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IMHO,

Get rid of the yearly fee QS, you state they offer the savor one? grab it because even with a low limit 3 pct cb on groceries and dining is excellent. everybody has to eat so why not put 3 pct of it in your pocket, you dont need a giant limit for that.

[Tomatoshadow2]

@SUPERSQUIDgotta get that cashback on all the good food haha

[Lucifer]

So the Devil here has had a C1 plat card for like evahhhhhh         Lucy may have had some credit issues in the past (I was a devilish little devil way back when - Cain still makes fun of me for it)

C1 let me back in the credit game and that card (now 20 years old) grew from secured to CLs of 300, 500 to 700 to 1000 over the course of 19 years.   Then the other day I log in and C1 is like het Devil man - we upped you to 5K.

Maybe they dumped little 'ol pitch forked tail me into a different ABS batch?    

I dunno but I didn't even ask for the CLI.  

C1 is much like my Dad in that I do not always understand their ways.   

I suppose, unlike my residents here in hell with me - there is hope for your C1 card.   

Now if I could get them to upgrade me to the fancy Savor or QS cards....    Oh - if that happens I might turn down the heat here in hell.  Well, for like and hour or two.  I'm still the devil afterall.

[SUPERSQUID]

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@Lucifer wrote:

So the Devil here has had a C1 plat card for like evahhhhhh         Lucy may have had some credit issues in the past (I was a devilish little devil way back when - Cain still makes fun of me for it)

C1 let me back in the credit game and that card (now 20 years old) grew from secured to CLs of 300, 500 to 700 to 1000 over the course of 19 years.   Then the other day I log in and C1 is like het Devil man - we upped you to 5K.

Maybe they dumped little 'ol pitch forked tail me into a different ABS batch?    

I dunno but I didn't even ask for the CLI.  

C1 is much like my Dad in that I do not always understand their ways.   

I suppose, unlike my residents here in hell with me - there is hope for your C1 card.   

Now if I could get them to upgrade me to the fancy Savor or QS cards....    Oh - if that happens I might turn down the heat here in hell.  Well, for like and hour or two.  I'm still the devil afterall.

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YOU ARE ON FIRE !!!!! I never got a jumbo cli like that, maybe because i am not beezlebub, I will add that to my notes on cap 1 cli dp's

[Creditsen]

Capital one messaged me to let me know they were lowering my rate for not enough utilization. I use the card regularly but my low amount isn't enough. I'm not sure how that benefits a company to remove a limit from a customer that has never missed a payment. But I'm not in the business of credit. I'm with you, I don't understand their choices either.

[Anonymous]

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@Creditsen wrote:
Capital one messaged me to let me know they were lowering my rate for not enough utilization. I use the card regularly but my low amount isn't enough. I'm not sure how that benefits a company to remove a limit from a customer that has never missed a payment. But I'm not in the business of credit. I'm with you, I don't understand their choices either.

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Because basically credit limits aren't free to the issuer.   Assuming a bank had somehow managed to identify customers who will never default, they still can't give them all $100K CLs, because the issuer needs a certain level of reserves to cover the potential obligations (the issuer is paying the merchants for all your charges, minus a fee!).

So given some implied cost to your credit limit, by CLDing you they can potentially give it to people who will use it more, generating swipe fees.  Makes business sense.   And if the CLD annoys you and you close the card, well, you paid on time but weren't generating enough profit, so not much loss.....

[Zoostation1]

@SUPERSQUID- Since you have a Savor One and are also post BK7 (I'm just over 4.5yrs since filing and didn't start rebuilding till 11/21).  How long did you wait to apply for that card?  It's one of the two cards on my radar for the future.  The other is Amex BCP at some point past the 5yr1mo rule since they have the AF waiver and were not IIB.  I currently have a QS1 2k limit that I've used heavily.  I'm averaging over $2150/month spend on it over the 4 months I've had it (partly due to using CC for 95% of my non rent/utility spend, partly to coax an increase and see how bad I'm bucketed) and a secured Discover ($400 limit, hopefully about to be unsecured with a CLI if I'm lucky since I've hit 6 months and not paid any interest, ~$300 month spend).  Sorry if this is pretty long winded.

[jamesdwi]

The best path for CapOne cards, is if you are in the rebuild phase.  Get a CapOne card, depending on your progress to that point it may have a annual fee, but it will most likely come with a low limit as others have mentioned. Use the card,  build your history, add some store cards to help pad your AAoA long term.  When your score is back in good area,  680 or more, and some good credit history, apply for card with a more freindly lender for people with average to good credit scores.  Chase, or Amex  to mind.  They are more likely to grow with you. At this point you can even consider applying for one of CapitalOne cards for people, there Venture card is one I got, with a nice signing bonus. Even though my first rebuilder card is stuck with a $2,500 limit.  They approved my Venture card with a SL  $15,000. Kept the card for a couple years, then closed it, it wasn't woth the annual fee. 

[SUPERSQUID]

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@Zoostation1 wrote:

@SUPERSQUID- Since you have a Savor One and are also post BK7 (I'm just over 4.5yrs since filing and didn't start rebuilding till 11/21).  How long did you wait to apply for that card?  It's one of the two cards on my radar for the future.  The other is Amex BCP at some point past the 5yr1mo rule since they have the AF waiver and were not IIB.  I currently have a QS1 2k limit that I've used heavily.  I'm averaging over $2150/month spend on it over the 4 months I've had it (partly due to using CC for 95% of my non rent/utility spend, partly to coax an increase and see how bad I'm bucketed) and a secured Discover ($400 limit, hopefully about to be unsecured with a CLI if I'm lucky since I've hit 6 months and not paid any interest, ~$300 month spend).  Sorry if this is pretty long winded.

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Hi, I got the savor one no af, no sub, 3k sl, 26.99 1 year 11 months post bk7 dc. i had a platinum in may of 2021 with a baby sl of 300. for 5 months i used 30 - 45 pct of the limit per month and pif AFTER the statement cut. after 5 months i upgraded it to QS and 3 days later cap 1 gave me a really nice automatic cli, 300 - 1800. then one month later in nov/21 in the cap 1 prequal savor one popped up and i took it.

since then i got my first automatic cli on the savor of 100 at 5 months, 3000 - 3100, usual baby cli expected from cap 1. i use the card for 20 - 30 pct of limit and pif, mostly groceries.

I got my 2nd cli on the QS at 11 months, i requested this one, 1800 - 2000.

I burned cap 1 for 5k in my bk7, my income is only 36k, my scores are 670's - 680's, my total util is 9 pct, my dti is low

[Alucard]

So I have two very old Capital One credit cards with low credit limits. No matter what I do everytime I hit the request CLI button I get denied. The average credit limit on my other cards is about 15k with 35k being the highest. My fico scores are around 720 and I have low utilization and only 2 inquiries in the last 12 months. Does anyone have any insight regarding their process?

I used their pre-approval link just to see if they would offer anything better and I got 3 card offers for customers with "good credit" yet they offered me the "one" version for two cards and the APR they are offering me is 29%? Let me be clear, I'm not interested in getting a new capital one credit card, but I am interested in raising the limit on the two that I have.