@myjourney wrote:
@shanao621 wrote:So I finally got a call back from the Cap 1 EO office about 15 minutes ago. The gentleman I spoke with stated he only handled the former HSBC accounts. He said that they needed to verify my income and the increase amounts, then he asked for my permission to do a hard pull on my credit. I wasn't excited about it, but i have only 4 inquiries in the past year and most are quite old. Only 7 in the past 2 years. He explained that, while he wouldn't make any promises, they try their best to approve my request. He mentioned they hadn't been offering CLIs for quite some time so they really wanted to try to do so now, especially for a quality customer like me (that made me laugh). So the requests that are being reviewed are my Orchard Bank Card which I opened in July 2011, it has a current credit limit of $420, never had a CLI, requested $5k, and my Best Buy RZ Card, opened in October 2012 with a pathetic $300 credit limit. Wish me luck! I would be beyond estatic if this request was approved. I make a pretty signficant amount of money and it's so frustrating to have such paltry credit limits. I haven't had a single negative mark on my credit report in 3 years, this would help me so much because my utilization would be so much better and that alone would raise my scores 50-80 points! I'm so close to the 700 club I can taste it!
Wishing you double luck and best wishes
GOOD LUCK and keep us updated!
@shanao621 wrote:So I finally got a call back from the Cap 1 EO office about 15 minutes ago. The gentleman I spoke with stated he only handled the former HSBC accounts. He said that they needed to verify my income and the increase amounts, then he asked for my permission to do a hard pull on my credit. I wasn't excited about it, but i have only 4 inquiries in the past year and most are quite old. Only 7 in the past 2 years. He explained that, while he wouldn't make any promises, they try their best to approve my request. He mentioned they hadn't been offering CLIs for quite some time so they really wanted to try to do so now, especially for a quality customer like me (that made me laugh). So the requests that are being reviewed are my Orchard Bank Card which I opened in July 2011, it has a current credit limit of $420, never had a CLI, requested $5k, and my Best Buy RZ Card, opened in October 2012 with a pathetic $300 credit limit. Wish me luck! I would be beyond estatic if this request was approved. I make a pretty signficant amount of money and it's so frustrating to have such paltry credit limits. I haven't had a single negative mark on my credit report in 3 years, this would help me so much because my utilization would be so much better and that alone would raise my scores 50-80 points! I'm so close to the 700 club I can taste it!
Fingers crossed for you!!!
Another update, a very nice, cheerful woman called me from the Capital One EO office this morning, she said she'd be handling my request on my Capital One account. She asked for my employment information, income, investments, monthly rent, etc.. She asked how much of an increase I would like and how much I would accept if they couldn't get approved for the total increase I requested. I explained I was hoping to get my CLI to $5000 but would accept a partial increase (anything at this point would help), she said she would send it off to be reviewed by a senior underwriter and that I should have a decision in 7 business days. Seriously I really hope my 3 requests are approved, I have worked so hard to improve my credit now I'm just in limbo until all my baddies drop off in the next 12 months. The worst of the baddies falls off in May or June of this year. I have 8 baddies, by the end of this year I will have 5 drop off. 700 club is so close I can taste it! Thank you everyone for your help and information to do this, I hope to have good news to report soon!
Starting Score: FICO TU 503 FICO EX 470 FICO EQ 498So I finally heard back from Capital One and I have to say I'm beyond disappointed. My request for a CLI were pretty much declined. The requests for the Orchard Bank and Best Buy cards were flat out denied the request for a CLI from Capital One was approved for a measly $150. I'm flabbergasted I've seen so many success stories, I make a significant income, I have never had a late payment on these accounts, no late payments for over 3 years, I just don't get it! I'm so disappointed. The worst part now I have a hard pull and nothing to show for it!
Sorry to hear that...
*8/10/13
@shanao621 wrote:So I finally heard back from Capital One and I have to say I'm beyond disappointed. My request for a CLI were pretty much declined. The requests for the Orchard Bank and Best Buy cards were flat out denied the request for a CLI from Capital One was approved for a measly $150. I'm flabbergasted I've seen so many success stories, I make a significant income, I have never had a late payment on these accounts, no late payments for over 3 years, I just don't get it! I'm so disappointed.
Wow...........
Thats really stinks. I think your scores may have played a role in the denials. I would work on getting above 680 an try them again!!
Wow! I'm sorry to hear it didn't work out well.
I'm not sure I believe that my scores are the issue, there are numerous examples of people with lower scores and more negative files than mine having success, and significantly more success than me. Some had higher utilization, less history with the company, etc.. My scores are in the mid 600s. I'm seriously floored. I have 3 years of clean history, over a year with 2 of the 3 cards, significant income, low debt to income. Basd on everyone else's success I never in a million years thought I'd get declined for 2 cards, and recieve such a small increase on the other. It barely impacts my utilization number. It doesn't help me achieve anything.
