Curious about Cap One

[AverageJoesCredit]

My only Cap One card is my Walmart MC , i closed my $15k store card transferred over from Synchrony.  My limit is $1700 and rarely gets used but save for a purchase to keep active. Any time i try for a cli, its an instant denial as its says i have a paper waiting in account  management.  It feels like my Citi legacy where i never get an increase only instant denials. 

My question is is it recommended to have reports unfrozen or locked when reqursting or does it not matter? I know Cap One is super stingy in best of times and the Walmart account gets people $100 increases more than any other anount for many. Just curious on this dp. Thanks AJC 

[Adkins]

I don't think it matters on the reports, @AverageJoesCredit! Good luck, I gave up trying for a CLI with them. 🤷

[AverageJoesCredit]

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@Adkins wrote:

I don't think it matters on the reports, @AverageJoesCredit! Good luck, I gave up trying for a CLI with them. 🤷

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Thanks @Adkins  , yeah honestly could care less. Not a fan of WM or C1 so its no biggie . Just dont remembee much chatter about that specific dp despite all the C1 talk here. 

[MrDisco99]

I once tried for a CLI on my Cap1 QS just for funzies.  Their response was there wasn't enough activity on the card to merit an increase.  Apparently they like to see lots of use.

[SoCalGardener]

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@Adkins wrote:

I don't think it matters on the reports, @AverageJoesCredit! Good luck, I gave up trying for a CLI with them. 🤷

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You and me both! Three Cap1 cards, ZERO approvals for CLIs. I've resigned myself to the fact that they're not going to change, so I'm contemplating closing the two Quicksilvers; their limits are only $4,000 and $4,500. At least the WM Rewards card has a decent CL ($10,000), but I still resent getting instant denials every time I ask for a CLI. Asked. Past tense. Not going to bother any more...

[805orbust]

Yeah they're the pits. They bought out Cabelas ($900) and Walmart MC ($6600) and nothing for the past 4 years or so. Yet, other banks are handing them out like candy.

[Junejer]

I can’t stand C1! I’ve gotten denied the past several times I’ve asked since the card PC to Venture One. I’m going to try an experiment by spending $800-$1,000 per month for a few months and then ask. If denied, I’m going to find a $0.99 per month subscription and put it in there and keep the card in the SD until the CLD me or close it.

[Aim_High]

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@AverageJoesCredit wrote:

My only Cap One card is my Walmart MC ... My limit is $1700 and ... rarely gets used but save for a purchase to keep active. Any time i try for a cli, its an instant denial

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^ ^ ^ That may be your only problem, @AverageJoesCredit.  From my experience, Capital One wants to see at least moderate usage of a credit limit to raise it.  I very slowly grew my Quicksilver from $1K to $25K.  The Walmart card may be different but give it a try.  I've found if I spend about 45% to 50% of the limit, it's probably enough for a CLI.  In your case, that's about $765 to $850 total spending.  Use it for a few months in row until you run up at least that amount and then ask for CLI.  You might be pleasantly surprised.  Good luck and let us know how it turns out. 

[Aim_High]

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@Junejer wrote:
I can’t stand C1! I’ve gotten denied the past several times I’ve asked since the card PC to Venture One. I’m going to try an experiment by spending $800-$1,000 per month for a few months and then ask. If denied, I’m going to find a $0.99 per month subscription and put it in there and keep the card in the SD until the CLD me or close it.

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@Junejer, I'd recommend the same advice I gave @AverageJoesCredit above.  Your Venture card shows a $5.1K limit.  If you follow your plan and charge $800 to $1000 for at least three months, that's $2400 - $3000 which equates to 47% to 58% of credit limit.    That would seem to be enough for a CLI from my experience. 

The caveats on this would be reported income being sufficient in their calculations, and possibly debt-to-income as reported by current revolving account utilization and monthly installment plan debt.  Another caveat is on their low-limit "bucketed" cards that refuse to grow, but these two cards don't appear to fit into that category.

Since I've posted about data points for Capital One CLIs before on My Fico, I would love to see both of you try this and report back in a few months. 

[Junejer]

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@Aim_High wrote:

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@Junejer wrote:
I can’t stand C1! I’ve gotten denied the past several times I’ve asked since the card PC to Venture One. I’m going to try an experiment by spending $800-$1,000 per month for a few months and then ask. If denied, I’m going to find a $0.99 per month subscription and put it in there and keep the card in the SD until the CLD me or close it.

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@Junejer, I'd recommend the same advice I gave @AverageJoesCredit above.  Your Venture card shows a $5.1K limit.  If you follow your plan and charge $800 to $1000 for at least three months, that's $2400 - $3000 which equates to 47% to 58% of credit limit.    That would seem to be enough for a CLI from my experience. 

The caveats on this would be reported income being sufficient in their calculations, and possibly debt-to-income as reported by current revolving account utilization and monthly installment plan debt.  Another caveat is on their low-limit "bucketed" cards that refuse to grow, but these two cards don't appear to fit into that category.

Since I've posted about data points for Capital One CLIs before on My Fico, I would love to see both of you try this and report back in a few months. 

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Thanks, @Aim_High. My income certainly supports more than a CL of $5.1K. I'll give it a shot starting in Feb or Mar and see what happens. Might take it on my trip to Sint Maarten and use it there.