Are Credit Card apps and CLIs getting harder to get approved

[raisemysc0re]

I was wondering, with interest rates rising do you think will banks start being more cautious in approving apps and CLIs?

Main reason for my question...

I have been heavily using my CapOne QS card and I PIF each month hoping to score a nice CLI.

I waited the required 6 months before asking and was suprised to see the 2-3 review response.

It's a SP so it doesn't really matter for this particular request.

However, if the answer to the above question is 'YES' I will definitely start gardening as I don't want to waste Hard Inquiries.

[wasCB14]

I think customers are defaulting at higher rates, and for that reason some banks are being more cautious. I'm not sure that it has much to do with interest rates rising.

How that will affect YOUR applications and CLI requests, I can't know.

[Anonymous]

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@raisemysc0re wrote:

I was wondering, with interest rates rising do you think will banks start being more cautious in approving apps and CLIs?

Main reason for my question...

I have been heavily using my CapOne QS card and I PIF each month hoping to score a nice CLI.

I waited the required 6 months before asking and was suprised to see the 2-3 review response.

It's a SP so it doesn't really matter for this particular request.

However, if the answer to the above question is 'YES' I will definitely start gardening as I don't want to waste Hard Inquiries.

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No they won't. Look how much banks pay on interest on savings accounts.  Look how they aren't increasing them but they are increasing he interest rates on loans.  Rising interest rates will help Banks with credit card profits. It will not help them with home loans though as less people will re-fiance loans with rising intest rates.  And they re-sell a lot of those loans.

[Anonymous]

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@Anonymous wrote:

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@raisemysc0re wrote:

I was wondering, with interest rates rising do you think will banks start being more cautious in approving apps and CLIs?

Main reason for my question...

I have been heavily using my CapOne QS card and I PIF each month hoping to score a nice CLI.

I waited the required 6 months before asking and was suprised to see the 2-3 review response.

It's a SP so it doesn't really matter for this particular request.

However, if the answer to the above question is 'YES' I will definitely start gardening as I don't want to waste Hard Inquiries.

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No they won't. Look how much banks pay on interest on savings accounts.  Look how they aren't increasing them but they are increasing he interest rates on loans.  

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Well, some are increasing the rate.  Currently East Boston Savings bank is paying 2.5% for a straight savings account (not reward checking) which might be attractive with stock market volatility 

[Anonymous]

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@wasCB14 wrote:

I think customers are defaulting at higher rates, and for that reason some banks are being more cautious. I'm not sure that it has much to do with interest rates rising.

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Well, higher interest rates means that people will owe more on the CC balance, (and on mortgage maybe)  so will be more likely to default

[wasCB14]

True, rising rates and rising payments would cause some defaults.

My understanding (not necessarily correct) is that that the default rates are more the result of issuers pursuing riskier borrowers overall, though.

[NRB525]

I suspect OP is confusing normal Capital One reluctance to give a CLI with general market offerings of credit cards.

Cap One is famous for putting a ceiling on specific cards, for their own reasons we will never understand.