GM BuyPower CLI - Denied Recon

[DeeBee78]

I app'd for this after receiving a preapproval in the mail about a month ago. Instant approval at a paltry $300 limit. 

I tried to request a CLI online, and got shot down. I immediately sent a secure message, advising them that the limit was far too low to be usable. I got a reply back, stating that I needed to wait until I received the card, then I could ask for a CLI. 

Went to check the mail today (I usually only check it once a month), and the card was there. After activation, I called the backdoor number and spoke to a very nice lady. I explained that the limit was far too low to be usable to me. She asked if it was OK to pull my credit report (soft pull) and I said yes.

Denied. 

I immediately closed the account. I don't know why I even app'd it. Just being greedy I guess. I don't even like American cars.

[CreditMagic7]

:-\

[dize]

My scored are only a tad higher than you, and I received the same starting limit on that same prequalified offer. I have some other capital one cards. My first one got a 500 limit, which I hardly used for a few years. I asked for my first CLI on it a year ago, and it currently sits at 2000. after they raised it to 2000 they emailed my saying if I make a certain payment every month or pay the balance off they will raise it to 2500 in november. I applied for a quicksilver at around the same time and was approved again for 500, and that is currently at 2000.

So maybe its just me, but capital one likes to slowly grow with me. Its going to be at least 5 years till I buy a brand new GM car, so I figured I can take advantage of that 5% for a while.

[DeeBee78]

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@dize wrote:

My scored are only a tad higher than you, and I received the same starting limit on that same prequalified offer. I have some other capital one cards. My first one got a 500 limit, which I hardly used for a few years. I asked for my first CLI on it a year ago, and it currently sits at 2000. after they raised it to 2000 they emailed my saying if I make a certain payment every month or pay the balance off they will raise it to 2500 in november. I applied for a quicksilver at around the same time and was approved again for 500, and that is currently at 2000.

So maybe its just me, but capital one likes to slowly grow with me. Its going to be at least 5 years till I buy a brand new GM car, so I figured I can take advantage of that 5% for a while.

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The BuyPower card seems to be a different kind of Cap1, where even people with seasoned credit profiles get crap limits. I didn't think it's going to grow reasonably quickly, so I cancelled it. 

[Anonymous]

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@DeeBee78 wrote:

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@dize wrote:

My scored are only a tad higher than you, and I received the same starting limit on that same prequalified offer. I have some other capital one cards. My first one got a 500 limit, which I hardly used for a few years. I asked for my first CLI on it a year ago, and it currently sits at 2000. after they raised it to 2000 they emailed my saying if I make a certain payment every month or pay the balance off they will raise it to 2500 in november. I applied for a quicksilver at around the same time and was approved again for 500, and that is currently at 2000.

So maybe its just me, but capital one likes to slowly grow with me. Its going to be at least 5 years till I buy a brand new GM car, so I figured I can take advantage of that 5% for a while.

---

The BuyPower card seems to be a different kind of Cap1, where even people with seasoned credit profiles get crap limits. I didn't think it's going to grow reasonably quickly, so I cancelled it. 

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Best decision ever Congrats and good riddance

[DeeBee78]

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@Anonymous wrote:

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@DeeBee78 wrote:

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@dize wrote:

My scored are only a tad higher than you, and I received the same starting limit on that same prequalified offer. I have some other capital one cards. My first one got a 500 limit, which I hardly used for a few years. I asked for my first CLI on it a year ago, and it currently sits at 2000. after they raised it to 2000 they emailed my saying if I make a certain payment every month or pay the balance off they will raise it to 2500 in november. I applied for a quicksilver at around the same time and was approved again for 500, and that is currently at 2000.

So maybe its just me, but capital one likes to slowly grow with me. Its going to be at least 5 years till I buy a brand new GM car, so I figured I can take advantage of that 5% for a while.

---

The BuyPower card seems to be a different kind of Cap1, where even people with seasoned credit profiles get crap limits. I didn't think it's going to grow reasonably quickly, so I cancelled it. 

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Best decision ever Congrats and good riddance

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Dumb me app'd the card before reading all the comments on here. I should have known better. S'ok - didn't mess up my seedling  

[Anonymous]

We've all made a few wrong turns here and there. No biggie. Now you know

[CreditMagic7]

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@Anonymous wrote:

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@DeeBee78 wrote:

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@dize wrote:

My scored are only a tad higher than you, and I received the same starting limit on that same prequalified offer. I have some other capital one cards. My first one got a 500 limit, which I hardly used for a few years. I asked for my first CLI on it a year ago, and it currently sits at 2000. after they raised it to 2000 they emailed my saying if I make a certain payment every month or pay the balance off they will raise it to 2500 in november. I applied for a quicksilver at around the same time and was approved again for 500, and that is currently at 2000.

So maybe its just me, but capital one likes to slowly grow with me. Its going to be at least 5 years till I buy a brand new GM car, so I figured I can take advantage of that 5% for a while.

---

The BuyPower card seems to be a different kind of Cap1, where even people with seasoned credit profiles get crap limits. I didn't think it's going to grow reasonably quickly, so I cancelled it. 

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Best decision ever Congrats and good riddance

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+1

[dize]

Oh well, I figure if I took the inquiry and the AAOA hit, I might as well keep the card, unless im asked to cancel something in exchange for a better product.

[TRC_WA]

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@DeeBee78 wrote:

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Dumb me app'd the card before reading all the comments on here. I should have known better. S'ok - didn't mess up my seedling  

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The new account resets your seedling... and you took the new account ding for it at any rate.  Closing the account isn't going to stop it from hitting your CR even if a preapproval didn't result in a HP.

Of course... if your 4/29/15 date in your sig is the day you accepted this card... then you are good in the eyes of the gardening community.  

On a side note, if it were me I'd have kept the card for the above reasons.