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Capital One Initiated CLI...

Established Member

Capital One Initiated CLI...

Well I'm almost 3 1/2 years out of Chapter 7 Bankruptcy.  I immediately got a First Premier credit card offer and I bit the bullet because I knew I needed a credit card for emergencies.  It was expensive, but at least they were willing to give me a card, even if it was only a $300.00 limit.  I used the card and paid it in full multiple times throughout the month every month and then I hit the love button at 6 months.  I got a CLI to something like $800.00.  At that time I applied for Capital One and they approved me for $1000.00.  And there I've sat.  First Premier did bump me up to $1000.00 at 12 months, (for the $25.00 fee of course), but Capital One wouldn't budge.  "No user initiated increases."  I use the card a lot!  Every time I tried though, they told me the same thing.  "Because of my bankruptcy I was not eligible for a user initiated increase and I would have to wait for them to review my account."  I finally got rid of First Premier because they are too expensive and I frankly don't use that much credit.  I've been good since Bankruptcy and I have about 8 months income in an emergency fund.  But I want to know that if I need to put something on my credit card I can!

 

Well, I noticed an email from Capital One today telling me that I have a new document from them online.  "Your credit line has been increased by $5,000.00, for a total credit line of $6,000.00."!!!  Psyched!Smiley Very Happy  I guess they really DO get around to reviewing their customer accounts!

 

TU-710 1/20/2011, EQ-677 1/20/2011, EX ???

Message 1 of 12
11 REPLIES 11
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Regular Contributor

Re: Capital One Initiated CLI...

Congrats.. hopefully, they will be more generous for everyone in the future. Nice boost
Starting Score: 547
Current FICO Score: TU 747, EQ 732, EX 742 [10/2014]
Goal FICO Score: 777
Message 2 of 12
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Senior Contributor

Re: Capital One Initiated CLI...

Congrats to ya!!  Savor it, a rare breed indeed, this type of response from cap1 doesn't seem to occur with any degree of frequency.

 

Kudos to you for the 5x CLI from  our friendly neighborhood "conservative lender", one of their fav scripted claims to fame, lol, just WOW!

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 3 of 12
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Frequent Contributor

Re: Capital One Initiated CLI...

So much for Cap One being "Crap One."  In my experience they are not a bad bank if you give them half a chance.

Message 4 of 12
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Moderator Emeritus

Re: Capital One Initiated CLI...

Wow!!! That's a whopping increase! Congrats! Smiley Very Happy


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 5 of 12
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Frequent Contributor

Re: Capital One Initiated CLI...

Lucky you

 

My card expires in a few weeks and they mailed me a new one yesterday. Been with them for almost 3 years and still have my $750 limit. I got so sick of waiting around for them that I app'd for a USAA MC, BoA Amex, and Delta Gold Amex. Got approved on all for 7k, 5k, and 7k CL.

 

The Crap One card sits in the safe except for the once a month $5 charge.


Starting Score: 703
Current Score: EQ 820 4/11/16
Goal Score: 800


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Message 6 of 12
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Valued Contributor

Re: Capital One Initiated CLI...


@drsmith wrote:

Lucky you

 

My card expires in a few weeks and they mailed me a new one yesterday. Been with them for almost 3 years and still have my $750 limit. I got so sick of waiting around for them that I app'd for a USAA MC, BoA Amex, and Delta Gold Amex. Got approved on all for 7k, 5k, and 7k CL.

 

The Crap One card sits in the safe except for the once a month $5 charge.


And this might be the very reason why you are stuck at the limit you are with Cap One right now.

 

Do you run multiple charges and payments on the Cap One card? I hear alot of stories similar to yours about Cap One. Many of these stories include the person being a long time card holder, but being stuck with a low limit. Frustrated with the low limit, they sock drawer it, or hardly use the card because they have better cards with either better rewards, or with a higher limit. How would that look to Cap One, when they review your account for a potential CLI? They see that you don't use your card or hardly use it, so they may not feel you need a CLI. The OP on the other hand, gives their Cap One card alot of action, and has to make multiple payments so they can keep on using the card throughout the month. Cap One reviews their account and sees this, and does a CLI. Just my theory, im not sure what Cap One looks for one doing auto CLIs.

 

Message 7 of 12
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Frequent Contributor

Re: Capital One Initiated CLI...

It was my only credit card for more than 2 years

 

I frequently used up most of the limit in a month, paid in full, and continued using the card. The only reason I even got another card was my debit card had a low per day charges allowed and a $750 limit isn't even enough for 2 plane tickets.


Starting Score: 703
Current Score: EQ 820 4/11/16
Goal Score: 800


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Message 8 of 12
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Established Contributor

Re: Capital One Initiated CLI...

For awhile the BT offers dried up; but now that the economy is doing a little better, I noticed that I'm now starting to see decent CapOne BT offers again. I'm going to try to regularly charge the monthly cable bill to my Capital One card so that hopefully I'll at least continue to get them.

Message 9 of 12
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Regular Contributor

Re: Capital One Initiated CLI...

congrats on that large CLI!!! glad you got rid of the premire bank CC. their annual rates are crazy!  but atleast you were able to use it to your advantage in getting the capital one card.


Starting Score: EQ 548 [ Feb 2010 ]
Current Score: TU 663 EQ 686
Goal Score: 700


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