Capital One Logic...

[Anonymous]

I have been in the garden since 08/10/2015 and have consistently reached out to C1 for CLI to no avail...Their reason for denial is that my credit line is sufficient based on my credit score. That all sounds hunky dory until I go to their pre-qual site and see I pre-qual for a signature card.... 

What is the logic for allowing me to obtain a new line of credit for a 5K min and not increasing my current lines that total 20K? It's difficult to understand their decisioning process. I use their cards exclusively so they earn swipe fees and have never paid an interest fee since I pay the balance off prior to statement close.

Does anyone have any insight on their CLI process vs their new card process? Seems as though it would cost more if I obtain a new card as I would earn a sign up bonus...

[tntexans72]

---

@Anonymous wrote:

I have been in the garden since 08/10/2015 and have consistently reached out to C1 for CLI to no avail...Their reason for denial is that my credit line is sufficient based on my credit score. That all sounds hunky dory until I go to their pre-qual site and see I pre-qual for a signature card.... 

What is the logic for allowing me to obtain a new line of credit for a 5K min and not increasing my current lines that total 20K? It's difficult to understand their decisioning process. I use their cards exclusively so they earn swipe fees and have never paid an interest fee since I pay the balance off prior to statement close.

Does anyone have any insight on their CLI process vs their new card process? Seems as though it would cost more if I obtain a new card as I would earn a sign up bonus...

---

They may be loose on approvals now but there is a possibility we will stopped seeing cap1 commercials and they start tighten up after the end of the year. No one really know why banks do what they do. I am sure it's all business strategies as these banks are fighting for customers loyalty and business. 

[Anonymous]

---

@Anonymous wrote:

I have been in the garden since 08/10/2015 and have consistently reached out to C1 for CLI to no avail...Their reason for denial is that my credit line is sufficient based on my credit score. That all sounds hunky dory until I go to their pre-qual site and see I pre-qual for a signature card.... 

What is the logic for allowing me to obtain a new line of credit for a 5K min and not increasing my current lines that total 20K? It's difficult to understand their decisioning process. I use their cards exclusively so they earn swipe fees and have never paid an interest fee since I pay the balance off prior to statement close.

Does anyone have any insight on their CLI process vs their new card process? Seems as though it would cost more if I obtain a new card as I would earn a sign up bonus...

---

They make money every time a new card is opened. The credit card business is a gold mine for banks. Fees & interest account for billions. The average APR for cap1 cards isn't really that great. The credit steps program makes cap1 look like a benevolent old uncle but the reason for it:  tons of revenue. Even though we hear people talk about how they pay off the bal each month in here, the majority of card holders carry some kind of balance. I'm ok with cap1 but I 'have their number' literally & figuratively

[Vegas4Play]

---

@Anonymous wrote:

I have been in the garden since 08/10/2015 and have consistently reached out to C1 for CLI to no avail...Their reason for denial is that my credit line is sufficient based on my credit score. That all sounds hunky dory until I go to their pre-qual site and see I pre-qual for a signature card.... 

What is the logic for allowing me to obtain a new line of credit for a 5K min and not increasing my current lines that total 20K? It's difficult to understand their decisioning process. I use their cards exclusively so they earn swipe fees and have never paid an interest fee since I pay the balance off prior to statement close.

Does anyone have any insight on their CLI process vs their new card process? Seems as though it would cost more if I obtain a new card as I would earn a sign up bonus...

---

Cap1 siggy cards are not necessarily 5K mini starting limits, some people have been approved for Venture cards with 2-3 K limits. Cap1 is a weird one never know what you will get ot what will happen with them.

[Anonymous]

I ran into the same problem with the exception I stopped using my Cap1 cards. If you don't like the way you're being treated then start using a different credit card.

[Anonymous]

---

@Anonymous wrote:

I have been in the garden since 08/10/2015 and have consistently reached out to C1 for CLI to no avail...Their reason for denial is that my credit line is sufficient based on my credit score. That all sounds hunky dory until I go to their pre-qual site and see I pre-qual for a signature card.... 

What is the logic for allowing me to obtain a new line of credit for a 5K min and not increasing my current lines that total 20K? It's difficult to understand their decisioning process. I use their cards exclusively so they earn swipe fees and have never paid an interest fee since I pay the balance off prior to statement close.

Does anyone have any insight on their CLI process vs their new card process? Seems as though it would cost more if I obtain a new card as I would earn a sign up bonus...

---

No logic required. That is just how they roll. I have read this many times in the forum.

[Anonymous]

My experience is that Cap One is for rebuilders and folks with no credit at all.  You can get much better rewards and perks elsewhere.  

[CreditCuriosity]

---

@Anonymous wrote:

My experience is that Cap One is for rebuilders and folks with no credit at all.  You can get much better rewards and perks elsewhere.  

---

I wouldn't say much better. The QS is 1.5%(not just first year eather) no hassle, no minimum CB rewards.  A few other DC/Amex 2% so net gain of .5% CB.  Otherwise Cap1 QS is one of the most rock solid cards.  Don't forget the no FTF for Cap1 as well.   Tell me how you can beat the 1.5% back with no FTF's if one was to travel and want that in a cash back card?   

[Anonymous]

It depends on if it is a Mastercard or Visa. Capital One mastercards are in a different credit tier and people seem to get locked into that tier and those cards don't grow much. Visas are at a differerent level entirely and normally if you put through a lot of use, you will see CLI, and often significant ones.

This is why you see many people reporting on here in frustration that their Capital One Mastercard won't grow and then whey they apply for a Capital One Visa (different credit tier), they get approved, and for higher amounts. Those Visas then grow with regular, continuous use.

[enerey]

Which cap 1 card do you have? I used to get denied all the time for cli when I had the platinum card with 500 limit until one day they gave me a 2000 increase without asking, a couple months later I pc the platinum card to quicksilver and now it is at 5200. Also I did apply for venture and venture1 and was approved for 15k and 10k.