Curious about Cap One

[Aim_High]

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@dangerously_caffeinated wrote:

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@Aim_High I had to go back and look at my statements. I just got my increase from $2,350 to $5,350 last month. In April of 2021 I went from an $850 limit to a $2350 limit. So - in less than a year I went from $850 to $5350 and I see no sign of slowing down.  My usage from April - Dec to get my current limit was ~50-60% each month, with a PIF every month.

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Congratulations on your fast progression with Capital One @dangerously_caffeinated!  Just as I expected, your usage has been very healthy relative to your limit and they're rewarded you well.  This is a great example of how Capital One loves to see moderate to heavy usage to give increases in credit limits.  Thanks for those data points!

[dangerously_caffeinated]

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@Aim_High wrote:

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@dangerously_caffeinated wrote:

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@Aim_High I had to go back and look at my statements. I just got my increase from $2,350 to $5,350 last month. In April of 2021 I went from an $850 limit to a $2350 limit. So - in less than a year I went from $850 to $5350 and I see no sign of slowing down.  My usage from April - Dec to get my current limit was ~50-60% each month, with a PIF every month.

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Congratulations on your fast progression with Capital One @dangerously_caffeinated!  Just as I expected, your usage has been very healthy relative to your limit and they're rewarded you well.  This is a great example of how Capital One loves to see moderate to heavy usage to give increases in credit limits.  Thanks for those data points!

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@Aim_High Unfortunately, I had to file BK in 2018 and C1 gave me a chance when no-one else would/will. So I will continue to use their products, grow my SavorOne and apply for the VX in April when my 1/6 is up.

[Aim_High]

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@dangerously_caffeinated wrote:

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@Aim_High Unfortunately, I had to file BK in 2018 and C1 gave me a chance when no-one else would/will. So I will continue to use their products, grow my SavorOne and apply for the VX in April when my 1/6 is up.

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Sorry to hear of the BK @dangerously_caffeinated but congrats on your rebuild progress!  It sounds like Capital One has been good to you!  Good luck as you continue the process.

[CreditCrusader]

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@AverageJoesCredit wrote:

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 

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Here's the thing about Cap 1 circa 2022:

The lion's share of their business focus right now is on secured credit, particularly auto loans.

This is understandable, as used auto prices are up nearly 40% since March of 2020 and new autos up around 10%. They have much to gain by approving refis while auto loan holders are looking for better rates...and frankly, COAF has some of the best refi rates out there for those who have near sub-prime rates at the moment (sister-in-law refi'd her 2017 from 18% to just over 7% with FICOs in the low 600s).

They are also looking at a winding down of the Fed's easy money and higher interest rates in the year to follow. Therefore, they are likely not taking on large amounts of unsecured debt aside from their recent X card. Add this to the fact that Cap 1 has ALWAYS been a fairly conservative CC lender and you arrive at their stingy CLI policy for most cards.

[Ficoproblems247]

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@AverageJoesCredit wrote:

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 

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You should not need to thaw your reports. Cap1 does quarterly AR pulls from all 3 bureaus. As long as they are able to gather their data from those quarterly bureau reviews, they will use the most recent data from those pulls if they are going to entertain a CLI and need to calculate your current bureau data into their decision. It sounds like you're being denied for other reasons before they even look at your reports. (See previous 24 messages in thread) 

[UncleB]

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@AverageJoesCredit wrote:

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 

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You're in good company here, @AverageJoesCredit... Capital One has been stingy for a while now, at least with those of us not giving them tons of usage.

Since the great Capital One Haircut of 2020 I've tried several times to get my grandfathered Savor increased, always with a response that I'm not using it enough.  They aren't wrong, but they reduced it down to $1500 so admittedly I'm not inclined to put much on it (chicken/egg situation).  For now I'm just putting a Dish Network bill on it for the 4% and calling it a day, LOL.

Oh, for what it's worth I've never heard of Capital One doing a HP for CLIs (at least not in recent years), so you should be fine there.

[AverageJoesCredit]

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@Ficoproblems247 wrote:

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@AverageJoesCredit wrote:

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 

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You should not need to thaw your reports. Cap1 does quarterly AR pulls from all 3 bureaus. As long as they are able to gather their data from those quarterly bureau reviews, they will use the most recent data from those pulls if they are going to entertain a CLI and need to calculate your current bureau data into their decision. It sounds like you're being denied for other reasons before they even look at your reports. (See previous 24 messages in thread) 

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😆 

[AverageJoesCredit]

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@UncleB wrote:

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@AverageJoesCredit wrote:

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 

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You're in good company here, @AverageJoesCredit... Capital One has been stingy for a while now, at least with those of us not giving them tons of usage.

Since the great Capital One Haircut of 2020 I've tried several times to get my grandfathered Savor increased, always with a response that I'm not using it enough.  They aren't wrong, but they reduced it down to $1500 so admittedly I'm not inclined to put much on it (chicken/egg situation).  For now I'm just putting a Dish Network bill on it for the 4% and calling it a day, LOL.

Oh, for what it's worth I've never heard of Capital One doing a HP for CLIs (at least not in recent years), so you should be fine there.

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Thanks @UncleB  one thing ill say positive about Capital One  is at least my alerts are instant and my daily alerts are always on time

[M_Smart007]

That's probably the only good thing to say about them.

I only had (1) Cap1 one card (Synkrony) takeover ..

As You know, I closed it measly $500 CL and I don't even shop at wally world.

No offense to those who hold Cap1 cards. (as I know they work for some people)

Also great rebuilder cards.!!