Capital One must hate me......... What gives?

[Anonymous]

I have read multiple threads on here about how easy Captial One is to get a CLI. I however have no such luck with them. Have 2 cards with them, both over 5 years old, both credit steps that went from $300 to $500 after 5 statements. They remained that way until end of February, when I had paid in full for Jan and Feb, and Cap One auto increased the cards to $600 and $750. Now fast forward 7 months, ask for a CLI, and they won't budge, on either card. I clearly have made significant improvement over the last 9 months. I have gained new credit with prime lenders, with limits much higher, and  I continue to pay both cards in full each month, but they keep saying not currently eligible for an increase.  What gives?

[Anonymous]

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@Anonymous wrote:

I have read multiple threads on here about how easy Captial One is to get a CLI. I however have no such luck with them. Have 2 cards with them, both over 5 years old, both credit steps that went from $300 to $500 after 5 statements. They remained that way until end of February, when I had paid in full for Jan and Feb, and Cap One auto increased the cards to $600 and $750. Now fast forward 7 months, ask for a CLI, and they won't budge, on either card. I clearly have made significant improvement over the last 9 months. I have gained new credit with prime lenders, with limits much higher, and  I continue to pay both cards in full each month, but they keep saying not currently eligible for an increase.  What gives?

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Not sure why you're under the impression that it's easy to get CLIs from CapOne.  While it may be a bit easier now than previously, CapOne is well none for being difficult with CLIs.  Often you will find that they won't give you a CLI but will turn around and give you a sizable limit if you apply for a new cad.  That may be your best bet if you're looking for higher limits with them.

[Anonymous]

I guess maybe easy wouldn't be the best word to describe. I was just meaning that I have only been around this site for 2 months, and continually see members posting about getting a Capital One CLI. I wouldn't say I need another card with them, just would like the limits more in line with my other cards. Both these cards are my longest open accounts, so no interest in closing them, just confused as to what is causing Capital One to decline an increase.

[Anonymous]

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@Anonymous wrote:

I guess maybe easy wouldn't be the best word to describe. I was just meaning that I have only been around this site for 2 months, and continually see members posting about getting a Capital One CLI. I wouldn't say I need another card with them, just would like the limits more in line with my other cards. Both these cards are my longest open accounts, so no interest in closing them, just confused as to what is causing Capital One to decline an increase.

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True you do see posts about CLIs but they aren't always available and there are plenty of posts similar to yours.  What reason are they giving for the declines?  If you're interested at all in applying you could always open a new card and then in 6 months consolidate the limits with your older card(s) so they remain open. Otherwise just accept the limits and keep trying periodically 

[Anonymous]

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@Anonymous wrote:

I have read multiple threads on here about how easy Captial One is to get a CLI. I however have no such luck with them. Have 2 cards with them, both over 5 years old, both credit steps that went from $300 to $500 after 5 statements. They remained that way until end of February, when I had paid in full for Jan and Feb, and Cap One auto increased the cards to $600 and $750. Now fast forward 7 months, ask for a CLI, and they won't budge, on either card. I clearly have made significant improvement over the last 9 months. I have gained new credit with prime lenders, with limits much higher, and  I continue to pay both cards in full each month, but they keep saying not currently eligible for an increase.  What gives?

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What type of cards do you have with Cap1? You may want to check and see if you have an upgrade option available for both or at least one of your cards. If they are platinum MC, which I suspect they are, you may never receive a CLI on them. Are you paying an annual or monthly fee on one or both of these cards?

I understand not wanting to close your oldest cards but I feel you may have found yourself in the same situation I did. I didn't want to close my oldest account either, but that's exactly what I did. They refused to increase my limit and permanently remove the $5 monthly fee so I closed it. I could have applied for another card but I decided not too. This scenario occurred before they started allowing customers to combine their limits.

Here's what I think you should do:

Check for an offer to upgrade to QS or QS1 without an annual or monthly fee. If available upgrade your card. If you don't see an offer to upgrade call or chat with CS. Once you have upgraded combine your CLs. As long as your accounts have a zero balance and are 6 months old you are okay. Both of these changes can be done in the same day. I just did it for my DH.

A word of caution: pay attention to the APRs on both accounts when you are combining. Hopefully, if an upgrade is available the account with the lowest APR will have the offer. (If this is not the case, then you have to decide which is more important to you a lower APR or longer history. It was a simple decision for me since the opening dates were a year apart. You will have to weigh the pros and cons for yourself.) Then continue to put the same spend on your new account. After 6 months, request a CLI. Best of luck!

[Anonymous]

If you don't want to close these cards, then go to their pre-qual page and see if they have any offers for you (don't be afraid to choose excellent credit).  If they pre-approve you the Venture or QS, then apply for both, hoping to get the 2 for 1 HP's.  Then in 6 months take those limits and consolidate them into your older cards.  It may not be the optimal solution to your problem, but it's a work around.  Both of these have decent sign-up bonuses as well you can take advantage of.

Sometimes, the older cards just get stuck based on information from 5 years ago, who knows how their computer systems work.  The only way around it might be what I described above.

[takeshi74]

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@Anonymous wrote:

I have read multiple threads on here about how easy Captial One is to get a CLI.

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Creditors don't "hate" or "love" and CLI's aren't just arbitrarily handed out or a matter of "generosity" or "sitnginess".  It's all business with the creditors and a matter of risk assessment from reviewing one's credit profile.  CLI's are primarily determined by one's credit and income.  If you're not getting CLI's with any creditor then the creditor probably has concerns with your credit.

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@Anonymous wrote:

I have gained new credit with prime lenders, with limits much higher

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New credit can be a red flag.  How much new credit is considered "safe" will vary by credit profile.  It's entirely possible that at the time you got the other new credit that those creditors were fine with extending you new credit but CO is concerned that you have been extended that credit.  You can't just assume that getting higher limits with one creditor means that you'll get higher limits with another creditor.  Higher limits can help but they're just a part of one of the factors in scoring and assessing your credit profile.  Your entire profile matters and is used to determine what the creditor is willing to extend you at a given point in time.

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@Anonymous wrote:

but they keep saying not currently eligible for an increase.  What gives?

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Sometimes you have to dig deeper but start with the denial letter.  What did CO state as your reason(s) for denial?

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@Anonymous wrote:

I guess maybe easy wouldn't be the best word to describe. I was just meaning that I have only been around this site for 2 months, and continually see members posting about getting a Capital One CLI.

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Credit profiles vary.  You can't just assume that because others get X that you will get X as well.

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@beautifulblaquepearl wrote:

What type of cards do you have with Cap1? You may want to check and see if you have an upgrade option available for both or at least one of your cards. If they are platinum MC, which I suspect they are, you may never receive a CLI on them.

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It could be this as well.  CO does have some starter/rebuilder cards that are very limited in growth potential but some have had success in upgrading to a card that isn't so restricted.  I just closed mine out as at the time CO didn't any cards that I was interested in.

[securingourfuture]

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@Anonymous wrote:

I have read multiple threads on here about how easy Captial One is to get a CLI. I however have no such luck with them. Have 2 cards with them, both over 5 years old, both credit steps that went from $300 to $500 after 5 statements. They remained that way until end of February, when I had paid in full for Jan and Feb, and Cap One auto increased the cards to $600 and $750. Now fast forward 7 months, ask for a CLI, and they won't budge, on either card. I clearly have made significant improvement over the last 9 months. I have gained new credit with prime lenders, with limits much higher, and  I continue to pay both cards in full each month, but they keep saying not currently eligible for an increase.  What gives?

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It is not what I would call easy, but better than in the past.

Your CLI will depend on the card you have. I have a 5-year old card with them that will not budge above $750. It started at $250. And I have a card with them that is 3 months old that started at $5k and was increased to $8k in 68 days. Credit steps cards increase for some, but not all.

[Anonymous]

One of the cards is a Platinum MC, and the other is a Cash rewards card, that apparently based on some research here, is actually the Quicksilver now? Not sure. Any how yes they both have an annual fee.

[Anonymous]

The reason for decline on the document they provide in my account says, This account is not eligble for a credit increase at this time. Then if you go on to page 2 it gives you a list of reasons, and this is not one of the reasons. Then it goes on to state that if your reason is not listed, you can check the credit increase link for more info, which is just a generic explination of how cli's work.

The cards are a Platinum MC, and a Cash Rewards card, that is apparently now the Quicksilver based on what I have read around the forums but not sure. Both cards have a annual fee.

I do also understand new credit will spoke a lender, and if thats their reason, than so be it. I was just trying to understand what the issue may be.