@kah-pas wrote:
$6,500.00 SCL / 14 months 0% APR
Earlier today Capital One Quick Silver -- where I have a $3K CL -- declined (again, for the 2nd time in a 12 months) a CLI and gave me a “too low usage” as a reason. A nonsense I tought given that I've been spending, and paying in full, over 70% of the CL. (granted only for the last three months) so I got angry and, basically, jumped the gun too early with this application.
Why? Last month my score dropped 20 points for I've taken a 60 months personal loan with the WF. This month my score dropped further 44 points for the overall debt use ratio has increased to 25%. (a 64 points total drop, to 683 from 747) I went to check my free score on Discover, saw 707 and still, irrationally and uncharacteristically, fuming over the Cap1 denial, applied for the card.
The system asked me to provide a full bank's statement and advised me to contact them so they could "immediately" check the application. I did it over the Chat, answered a few questions and that was it.
Happy for I wanted to diversify my portfolio of CCs with Discover anyway. This is what I have at the moment:
$3,000.00 Capital One Quick Silver
$4,000.00 Wells Fargo Propel
$4,200.00 Wells Fargo Platinum
$6,500.00 Discover It Blue
$10,000.00 Capital One Venture
AMEX Platinum
(12% utilization)
Congrats on your Approval...
You have nice portfolio of cards.
I asked for a CLI on my $3,500 QuickSilver too, but they gave me the same reason they gave you. It is true though, I haven't used it a lot the last 6 months, but that's because I got approved for so many other new cards, and had spends reach...etc. I have a Venture card with them with a $30K CL which I used a ton though since I got it 6 months ago. Now I have to try find whatever reasons to can to use the QuickSilver more... I figure I will do a lot of spending for two months, and then take another shot at the CLI. Since it's a SP, it can't do any harm...
