@Anonymous wrote:
After getting approved for Discover More and Zync I decided to ask for a CLI on my Cap1 Cash Rewards or cancel it being it has a $39 AF that is coming up. They denied my CLI and said they couldn't give me a reason over the phone but they would send me an email with the reasons and this is what it said:
Dear xxxxx,
July 19, 2012
Re: Your account number ending in xxxx
Thank you for contacting Capital One® regarding your account. Unfortunately, we cannot approve a credit line increase for the following reason(s):
A credit limit increase on your account is not currently available upon request
We regret any inconvenience and look forward to continuing to serve you. Please keep in mind the great benefits your card offers, like 24/7 online account management that allows you to change your payment due date, make online payments, and set up e-mail or text alerts to notify you when you approach your credit limit. To manage your account online, go to cap1.com
If you have any questions about this decision, please give us a call at 1-800-955-7070. Thank you for being our customer.
Sincerely, Capital One Customer Care Team
Just thought it was kind of funny that they couldn't even give me a legit reason except "we don't want to".
I have been getting this message for months now. Recently I contacted the Executive Office asking for an increase, and after several days I was called back with a denial and counter-offer to eliminate my annual fee for good. I accepted their offer.
Today I received a letter in the mail with the explaination of denial from the Executive Office. It stated the following:
Reference ending in: XXXX
Creditor: Capital One Bank (USA), N.A.
Dear SwampSystems,
Thank you for your recent request to increase the credit limit on your Capital One account. We regret that we cannot approve the requested change. The reason(s) for our decision are as follows:
o Insufficient assets with Capital One
Although we were unable to fulfill your request at this time, Capital One may periodically conduct account reviews and increase the credit lines of those who qualify. If your line is increased after a Capital One initiated review, we will notify you separately.
Thank you for choosing Capital One. We look forward to continuing to serve you as a Capital One customer and regret any inconvenience this may have caused.
That, of course, is likely because I recently paid off both cards, pulled all but $300 out of my bank accounts with them, and consolidated down to one checking account and no savings. I decided it was in my best interest to develop a stronger banking relationship with Chase and took them up on the $150 bonus for opening a new checking account.
I can only hope that if you contact the Executive Office, that you would have better luck than I did; but I would like you to know that even at the executive office level, I was not simply denied a CLI, but I was specifically denied a manual account review once again.
Capital One is, as they say, a conservative lender. Even as they are continuing to deny their existing, loyal customers a CLI, they are handing them out left and right to their newly-acquired HSBC customers. While I have never had any problems with their excellent Customer Service, many of us have outgrown their business model of low limits and high fees. They have served their purpose of being a sub-prime stepping stone. They would rather see us close our accounts with them and re-apply for their prime products than to simply trust us with PCs and CLIs. They have done me plenty of good, but I have decided to move on.
