Does anyone know if Cap One ever actually spells out their terms anywhere for CLI on secured cards?
I started out with a $451 limit 8 months ago (still not sure where that extra $1 came from). I usually keep it close to the limit but I ALWAYS pay on time & most months I'll even send in 1-2 extra payments to keep it down as much as possible. I added a $550 deposit two weeks ago to increase my limit to $1000 & I also saw the link to request a CLI online (I hadn't noticed this before). I figured I'd get it to $1000 on my own & if they could increase it at least a little that would help. I was sent an email saying my card type "doesn't qualify for CLIs"...& today I received a letter in the mail saying the same thing. I know this is a lie b/c I've seen many people on here & other sites post they've received them & it states on the Cap One site (on the page for info on the secured card):
"You may also earn a credit line increase based on your payment history and creditworthiness."
Obviously this doesn't say you WILL get an increase but it does say it is posssible but when I asked about it I was told it wasn't. To me this is false advertising. I wonder how many people Cap One has lied to to get their $ & then hold out on CLIs unless they get more money to hold onto indefinitely.
I'm sure I sound bitter...& I guess I am. lol
I had a secured card from cap1 years ago for about 2 years with no cli and i eventually closed it. But i opened a new account in May 2012 with 200 secured. Added an additional 300 in March 2013 and finally today received a 250 increase. Never thought i would see this day and i only had to wait 2 years lol
My Cap1 secured had a cli today! I had this card for about 3yrs with only $100 cli for a while and then it stopped at $300. I just logged in today and seen that now I'm at $750 cl!!! Don't know why just random. Finally !!