@OneOfOne777 wrote:Can anyone explain how capital one's system works regarding CLI approvals? I keep getting denied yet they just approved me for a savor one ( savor one good credit ) . It's a $1,000.00 limit. I have 3 other capital one cards which are the Walmart rewards $500 , platinum $300 and quick silver one $300.
would it be safe to say this card isn't bucketed whereas the other ones might be?
had the QS since 2021platinum since 2022
Walmart rewards since 2023
just got the savor 3 days ago
Still new to credit and made a few mistakes with the cards early on but I've paid them off and use them responsibly now.
Capital One is WEIRD. They keep changing their policies, sometimes it seems even going backwards to what they were punished for in the past. In the past, if you were subprime, then they would not increase the CLI, just give you a new card. They did this hoping you would miss a payment on one card, so they get the fee, then miss a payment on the other (or others, because some people had multiple cards with them). Also, with many small limits it kept customers intact that were subprime, to some degree, because a high limit would boost the score. Additionally, with many small limits and usage high on each, even if it was not that much in reality, it had a negative impact to your credit score, so once again.. trapped with them.
Now it appears that maybe they are revisiting this tactic, somewhat...
Also, if you use the card often and pay it off in full each month it might have the effect you want, their system might notice that behavior and allow for a CLI after 6 months of doing this.... However, depending on the metrics they use, then the alternative method is consistent payments with a balance. If they are using this metric there is a sub metric that plays into it, either a low balance or a high balance metric.
Personally, I would wait and simply transition to a better bank. Get the better rewards cards. Take the long term approach. You would rather have the better cards. If CapOne (pronounced with a long O sound, 
) won't do you right, then wait a bit more and get a card with a better bank.
About five cards (usually non store cards) is best to get your score higher faster. So, even if you have to get another card right now to bring it to 5, then do so. I don't know your score, but if it is high enough find a useful card, such as Custom Cash by Citi, to apply for, if you qualify. If you don't, then choose something that is good but has a good chance of being approved for. Go to Citi and do the prequal, go to any other bank site that has a prequal and try to see. Choose the best one that you do prequal for and take it, then if you feel really lucky, try for the ideal card and get the hard pulls out of the way and let them age. After that, garden.
Back in the day I had only one Merrick secured card. I used it to rebuild, then got CapOne, knowing that it was going to be a fee, but paid it for a while as I rebuilt. I learned the importance of gardening, letting the cards age and the inquiries to drop off, as well as getting CLIs with the banks that would give them based on payment history and score. It takes time, so be patient! I started with a simple secured card and a mission, now I have $300,000+ of total limits, one card alone has a 30,000 limit. My score has changed considerably!
Remember, you can boost your score temporarily, if needed by paying down your cards to 10% or less right before they report. This can help to get approvals if you are marginal. A few points can make the difference to getting approved. A trick I used, successfully, was to use my credit card for everything and pay it off immediately, gather the point, cash the points in to pay the balance. I tightened my belt and only bought what I had to, saved the rest of the money, and bought my home in cash. I got a fixer upper and fixed it up nicely. Wood floors, new appliances, new bed, and did it over time on credit cards, which I used the cash back/points to help reduce the cost. I bought almost everything on sale or clearance and I didn't splurge much, I kept a goal in mind and achieved it. My home has tripled, at least in value, because of the market and rennovations.
Keep the course and find reasons not to go out and spend. Have your friends over, tell them you want to try out some new recipe and have them bring over a game.
@TiggerDat wrote:
@OneOfOne777 wrote:Can anyone explain how capital one's system works regarding CLI approvals? I keep getting denied yet they just approved me for a savor one ( savor one good credit ) . It's a $1,000.00 limit. I have 3 other capital one cards which are the Walmart rewards $500 , platinum $300 and quick silver one $300.
would it be safe to say this card isn't bucketed whereas the other ones might be?
had the QS since 2021platinum since 2022
Walmart rewards since 2023
just got the savor 3 days ago
Still new to credit and made a few mistakes with the cards early on but I've paid them off and use them responsibly now.
Capital One is WEIRD. They keep changing their policies, sometimes it seems even going backwards to what they were punished for in the past. In the past, if you were subprime, then they would not increase the CLI, just give you a new card. They did this hoping you would miss a payment on one card, so they get the fee, then miss a payment on the other (or others, because some people had multiple cards with them). Also, with many small limits it kept customers intact that were subprime, to some degree, because a high limit would boost the score. Additionally, with many small limits and usage high on each, even if it was not that much in reality, it had a negative impact to your credit score, so once again.. trapped with them.
Now it appears that maybe they are revisiting this tactic, somewhat...
Also, if you use the card often and pay it off in full each month it might have the effect you want, their system might notice that behavior and allow for a CLI after 6 months of doing this.... However, depending on the metrics they use, then the alternative method is consistent payments with a balance. If they are using this metric there is a sub metric that plays into it, either a low balance or a high balance metric.
Personally, I would wait and simply transition to a better bank. Get the better rewards cards. Take the long term approach. You would rather have the better cards. If CapOne (pronounced with a long O sound,
About five cards (usually non store cards) is best to get your score higher faster. So, even if you have to get another card right now to bring it to 5, then do so. I don't know your score, but if it is high enough find a useful card, such as Custom Cash by Citi, to apply for, if you qualify. If you don't, then choose something that is good but has a good chance of being approved for. Go to Citi and do the prequal, go to any other bank site that has a prequal and try to see. Choose the best one that you do prequal for and take it, then if you feel really lucky, try for the ideal card and get the hard pulls out of the way and let them age. After that, garden.
Back in the day I had only one Merrick secured card. I used it to rebuild, then got CapOne, knowing that it was going to be a fee, but paid it for a while as I rebuilt. I learned the importance of gardening, letting the cards age and the inquiries to drop off, as well as getting CLIs with the banks that would give them based on payment history and score. It takes time, so be patient! I started with a simple secured card and a mission, now I have $300,000+ of total limits, one card alone has a 30,000 limit. My score has changed considerably!
Remember, you can boost your score temporarily, if needed by paying down your cards to 10% or less right before they report. This can help to get approvals if you are marginal. A few points can make the difference to getting approved. A trick I used, successfully, was to use my credit card for everything and pay it off immediately, gather the point, cash the points in to pay the balance. I tightened my belt and only bought what I had to, saved the rest of the money, and bought my home in cash. I got a fixer upper and fixed it up nicely. Wood floors, new appliances, new bed, and did it over time on credit cards, which I used the cash back/points to help reduce the cost. I bought almost everything on sale or clearance and I didn't splurge much, I kept a goal in mind and achieved it. My home has tripled, at least in value, because of the market and rennovations.
Keep the course and find reasons not to go out and spend. Have your friends over, tell them you want to try out some new recipe and have them bring over a game.
This is great advice. Only thing for me is I got a starter Cap One Platinum Mastercard with a $300 CL and the 1st month I was paying off my charges immediately like you wrote - I made 2 payments within 36 hours and the darn card was restricted lol. I had to call Cap One's fraud department and get verified before I was allowed to use it. I was pretty much told their algorithms don't like continual payments in a short amount of time! I mean I was and still am new to building my credit, how was I supposed to know that right? And then I did research and it seems like some credit card companies don't care if you pay repeatedly. So it's all so confusing.
@SUPERSQUID The 2 card rule isn't a hard rule. I don't usually put too much stock in what customer service says when I call in, but 2 or 3 months IIRC before I got my 3rd Cap One card (Venture X) I was told over the phone that there's not a hard limit at 2 cards. I was told it's profile dependent and additional cards can be approved on a case by case basis. For me, all 3 of my current cards with them were approved over an 18 month period of time, have been PIF every month, and account for a majority of my total spend.
