Capital One stingy giving any credit?

[neoanderson1]

They are a horrible company. Very stingy with CLI's.

[KneelBeforeZod]

I can't say they are horrible, but my mileage with them was definitely limited. Once I ended up in the camp with American Express and Discover, I evaluated them as to why I could never get more than $1,000 in credit with them. My concern was they did not grow with me and I nearly always PIF. Product conversions were not advantageous and toe EO gave out measly $200 increases. I ended up going to Barclaycard to replace them. They gave me 3 times the limit to start, and no AF.

I dropped Cap One in the end over the AF - made no sense to pay them to be in a sock drawer to be a backup to Discover and AMEX.

I'm grateful for them to give me a chance at credit when everyone said no to be at a point. But my needs outgrew what they could provide.

If you think they suck, then fire them from your wallet. That's what I did and haven't looked back. Maybe I'll take a look at them again if things ever hit the skids with Barclay's.

[Florida1990]

Scores TU 636 EX. 646 EQ630 1 baddy $112 years ago student loans current auto loan current??? Does that help.

[OHWWCB]

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@SevenNEW wrote:

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@Florida1990 wrote:

Does anyone else think capital one is stingy when lending credit? I have been denied everytime.

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Yeah, they can be stingy on CLIs. This said, what are your scores? What most people in this forum have done (myself included) is apply for major cards whenever we were ready and SD the Cap 1. In most cases they made a move years later. I don't know if this is very helpful at this point, but this is my history and--it seems--a very common development.

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What does that mean?

[dallasjetfan]

Cap One will be the first card I close soon.  In last year I have received Chase, Citi, Discover and now American Express.  I could just put the card away, but I'm tired of no CLI's in 8 years with perfect payment history.

[AMTB]

with Capital One, you can only apply new account for higher CL. that's what every rep has told me. my $500 CL with them for almost 4 years can't get any CLI (4 requests in the past 2 years were all denied) and it's the lowest CL of my credit profile.

[dallasjetfan]

I have had CO since 2005.  They were first to give me a CC post BK.  They were great in the beginning, but when the credit crunch happened they stopped being my friend.  I have had a car loan with them and checking account for 15 years.  I no longer need them and can use Chase and my CU from now on for checking needs.  I no longer need these high interest cards or no growing CL's.

[SevenNEW]

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@OHWWCB wrote:

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@SevenNEW wrote:

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@Florida1990 wrote:

Does anyone else think capital one is stingy when lending credit? I have been denied everytime.

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Yeah, they can be stingy on CLIs. This said, what are your scores? What most people in this forum have done (myself included) is apply for major cards whenever we were ready and SD the Cap 1. In most cases they made a move years later. I don't know if this is very helpful at this point, but this is my history and--it seems--a very common development.

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What does that mean?

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SD = sock-drawer, stop using it. Since it had no annual fee, I didn't need to close it. This year they finally contacted me and gave me an automatic CLI. If you have no annual fee I recommend you hold on to it, you just never know.

[neoanderson1]

The reason why I think Capital One is not a good bank is because their customer service department is usually of no help. They give customers a run around and their inability to grant credit limit increases. They are good to start off with but that's just about it. Congrats on your credit success though!

[dallasjetfan]

I just was turned down again for a CLI.  One increase in last 5 years and I don't need them anymore so I will pay off my BT early and close them.