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Capital One: Denied CLI / Approved for $50K on New Card

anm688
New Contributor

Capital One: Denied CLI / Approved for $50K on New Card

I have two CapitalOne Cards that were open in early 2007 after my bankruptcy in August 2006. They were the first company to give me credit cards following the bankruptcy, the first one received a $3,500 limit and the second one received a $3,000 limit.

In 2013/2014, they upgraded me to their Quicksilver card so I could get cash back on my purchases. As my finances have drastically changes since then, I've attempted to request multiple limit increases, and I've kept getting denied because they say I don't use enough of my credit limit to justify a limit increases.

Then in December I just decided to apply for a CapitalOne Venture card for their 40,000 bonus miles, and was given a $50,000 credit limit.

Can someone explain how/why they won't increase my limit on a card with $3k limit, but will give me a new card with a $50,000 limit? I would rather have the limit on one of these older cards that's I've now had for 8 years. 

Message 1 of 179
178 REPLIES 178
Yes-Its-Me
Super Contributor

Re: CapitalOne: Denied Limit Increase/Approved for New Card


@anm688 wrote:
I have two CapitalOne Cards that were open in early 2007 after my bankruptcy in August 2006. They were the first company to give me credit cards following the bankruptcy, the first one received a $3,500 limit and the second one received a $3,000 limit.

In 2013/2014, they upgraded me to their Quicksilver card so I could get cash back on my purchases. As my finances have drastically changes since then, I've attempted to request multiple limit increases, and I've kept getting denied because they say I don't use enough of my credit limit to justify a limit increases.

Then in December I just decided to apply for a CapitalOne Venture card for their 40,000 bonus miles, and was given a $50,000 credit limit.

Can someone explain how/why they won't increase my limit on a card with $3k limit, but will give me a new card with a $50,000 limit?

@anm688,

 

This -$50,000 credit limit with CAP 1. Am I reading that right or is it a typoSmiley Surprised

Message 2 of 179
NRB525
Super Contributor

Re: CapitalOne: Denied CLI on $3K Card / Approved for New $50K Card

Smiley Surprised

 

$50,000 US Dollar limit? Congratulations!!

Explanations? We don't need no stinking explanations!

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 3 of 179
pizza1
Community Leader
Super Contributor

Re: CapitalOne: Denied CLI on $3K Card / Approved for New $50K Card

is that four zeros??? 5k or 50K...ive never heard of or seen a limit from cap one that high...ever...congrats

My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013...I'm in the home stretch now!
Message 4 of 179
anm688
New Contributor

Re: CapitalOne: Denied Limit Increase/Approved for New Card

Yes, $50K, lol. I've heard they don't usually give people high limits, but I've had a different experience with them for new cards. I even opened another Quicksilver card with them 3 days ago, and that one was approved for a $20K limit, which is lower than my Venture card, but still not too bad. 

Message 5 of 179
Yes-Its-Me
Super Contributor

Re: CapitalOne: Denied CLI on $3K Card / Approved for New $50K Card


@NRB525 wrote:

Smiley Surprised

 

$50,000 US Dollar limit? Congratulations!!

Explanations? We don't need no stinking explanations!


My jaws are on the floor and I am trying to pick it up.. $50,000 line with CAPITAL ONESmiley SurprisedSmiley SurprisedSmiley Surprised Maybe I better re-adjust my thinking and start using CAP 1.Smiley Surprised

Message 6 of 179
NRB525
Super Contributor

Re: CapitalOne: Denied CLI on $3K Card / Approved for New $50K Card

FWIW, you should just be happy with the new card at $50k. There is, literally, no way in this lifetime that CapOne would increase your $3k cards to anything even a fraction of $50k, so don't rock the boat, don't recon to try to transfer the limit, don't poke the bear, just enjoy this card as is.

 

#StillShocked

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 7 of 179
Yes-Its-Me
Super Contributor

Re: CapitalOne: Denied CLI on $3K Card / Approved for New $50K Card


@NRB525 wrote:

FWIW, you should just be happy with the new card at $50k. There is, literally, no way in this lifetime that CapOne would increase your $3k cards to anything even a fraction of $50k, so don't rock the boat, don't recon to try to transfer the limit, don't poke the bear, just enjoy this card as is.

 

#StillShocked


+1. Why do you need an increase though... That is just a mind blowing limit from CAP 1.

Message 8 of 179
NRB525
Super Contributor

Re: CapitalOne: Denied Limit Increase/Approved for New Card


@anm688 wrote:

Yes, $50K, lol. I've heard they don't usually give people high limits, but I've had a different experience with them for new cards. I even opened another Quicksilver card with them 3 days ago, and that one was approved for a $20K limit, which is lower than my Venture card, but still not too bad. 


Ok, you have to list out all your cards and your MyFICO scores. You're not getting out of here by only dropping snippets of information.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 9 of 179
Yes-Its-Me
Super Contributor

Re: CapitalOne: Denied Limit Increase/Approved for New Card


@NRB525 wrote:

@anm688 wrote:

Yes, $50K, lol. I've heard they don't usually give people high limits, but I've had a different experience with them for new cards. I even opened another Quicksilver card with them 3 days ago, and that one was approved for a $20K limit, which is lower than my Venture card, but still not too bad. 


Ok, you have to list out all your cards and your MyFICO scores. You're not getting out of here by only dropping snippets of information.


@NRB525,

 

I am actually tempted to close my CAP 1 card and re- apply. Thats one heck of a limit.

Message 10 of 179
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