What does this mean? Capital One CLI

[vinster95]

Hey everyone. I just requested a CLI on my venture card. I have a 12k limit and asked for 18k total. I figured it's 6 months now since my last CLI so why not ask again. I just got a Chase card for 24k so I wanted to raise the venture limit a little bit for a vacation and use it. 

the message I got said " A credit limit increase is currently not available upon request because Capital One is evaluating account activity at assigned credit limits."

What does that mean? I’m guessing it means I’m not using enough of my limit currently for them to give me a higher limit? I think it said something like it's a manual review for the limit. Can anyway speak on this from experience or what they've heard? Like I said, I'm guessing I don't use the card enough. I'm using 2k/12k right now, and the last report for it was like 200 bucks I think. Thanks! 

[Copenix]

Sounds like that's exactly the reason based on your description.

Based on other comments on C1 CLIs - supposedly the best way is to push high (organic) spend through the card (up to the CL). Post high statement balances. Ignore the complaining from CreditWise about utilization. Auto-pay the statement balance. Repeat for a number of months. C1 may proactively offer you a CLI.

[Jnbmom]

Their fancy elusive way of saying you are not spending enough 

[JoeRockhead]

For the majority of people, Cap One likes to see spend, or in other words make good use of the limits you currently have.  They seem to look at like, you don't use what you have, why would you need more, no soup for you. 

As for the premise that they require you to let large balances post in order to better facilitate a CLI, color me skeptical.  My wife, who had numerous Cap One cards, had several of them auto CLI, one of them up to $80k... never ever let a balance post.  She also had them auto CLD cards when her spend dropped off for more than several months.  They (like all other lenders) know what their cardholders spend on their accounts. 

I believe the percentage of spend relative to your CL (along with your credit profile) has much greater influence on garnering Cap One CLIs, and how much they grant, rather than when you pay the balance in full.   

[youngandcreditwrthy]

@vinster95 

Im glad you posted this because I got this same response on my West Elm Visa Siggy which is  a decent card, BUT I'll have you know...

that I did spend on it up to like 2200 of 3000 CL (kinda low tbh) and I did that for 9 months.. and even then they gave me that dumb reason.

That reasoning popped up for about 5 or so years after the Great Recession from about 2008 to 2013, maybe longer. 

Basically, its their way of saying, we are concerned about the economy (and remember they need to have so much extra capital to buy Discover as well).. so I think they are looking at economic forecasts, etc. getting worried, and slightly tightening up on credit. 

The only way, if you really need to, to get around this.. is to call the Executive Office or email them.... if Richard Fairbanks is still the CEO, it should be relatively easy but the last time I did that was almost ten years ago and it did work, they increased my 9 year old account nearly 300%.

But even bank of america is starting to do this stuff again where they are citing "economic loss trends" as reasoning for no CLIs. Its concerning.

[GreatLife]

OP's message reads as rather generic & general to me. Hopefully it doesn't mean Cap1 is in the process of evaluating limits on ALL accounts, including those newly acquired from Discover. 😯

[nytokyobred79]

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@vinster95 wrote:

Hey everyone. I just requested a CLI on my venture card. I have a 12k limit and asked for 18k total. I figured it's 6 months now since my last CLI so why not ask again. I just got a Chase card for 24k so I wanted to raise the venture limit a little bit for a vacation and use it. 

the message I got said " A credit limit increase is currently not available upon request because Capital One is evaluating account activity at assigned credit limits."

What does that mean? I’m guessing it means I’m not using enough of my limit currently for them to give me a higher limit? I think it said something like it's a manual review for the limit. Can anyway speak on this from experience or what they've heard? Like I said, I'm guessing I don't use the card enough. I'm using 2k/12k right now, and the last report for it was like 200 bucks I think. Thanks! 

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I'm pretty sure that's there way of saying you're not using the card enough. I started to get that cli decline reason(my Venture Rewards) once my use of the credit line decreased quite a bit. Then they sent me several BT offers and I've made use of 2. Now when I request a CLI, the decline reasons are 1. Recent usage of this account for monthly spend has been too low  2. Your average monthly payments have been too low. I have 6K parked there for a 12 month BT offer and have been paying about 3 times the minimum monthly payment but not big payments. My guess is that if I were to start using the card a bit more and make big payments, I might be able to squeeze a cli. I just don't want to have to make interest savers payments to avoid interest on those just to see if they'd increase my credit. Good luck to you and hopefully you'll get out of their "spend jail" so to speak. 

[indiolatino61]

[USMCOne]

Had Capitol One for a long time and still have a card with them. Thats slightly different then there normal message. Probably due to merger with Discovery which makes sense.

Capitol One is very big into you having alot  of spend to justify a CLI. They often will come back you are not utilizing what they gave you and deny you. Apple Card is sorta like that but really favors you if you buy Apple gear and pay it off. Apple Card will even approve higher then your limit to rope you into Apple purchases.

I would just use it like you normally do and move on to another card unless you willing to have alot of spending, paying it off rinse and repeat. End of the day simply not worth it imo.

[AzCreditGuy]

 Very true that's not a normal message so I decided to get a CLI, and they gave me a $1k increase. I’m now at $16,900 after 10 years 😊

I have to say I have been using the card though but in a way the members here say Cap 1 will close my account out