Has Anyone Ever Graduated From Capital One Subprime to a High Limit Card?

[Gonzozap]

Wondering about others' experience with this scenario.

I have 2 cards from Cap1 that I got when I initially began rebuilding.  Started at a 500 limit.  When I try to get CLIs, they only give me $100 or $200 dollars - but once I did get an automatic $500 CLI.

Never late, balance kept low or zero.  Scores now over 760.  But in trying to get a regular card, I am denied for crappy reasons no other lender uses.  e.g., inquiries (6 in 15 months), recent accounts opened, etc.

I'm wondering if when Cap1 places cardholders in that "once bad credit tier," they are permanently stuck there and can never get a regular, high limit card.

Anyone experience this?.

[Anonymous]

Nope, they don't bucket people they bucket cards.  Plenty of instances of that around here.  However once you hit a certain point in your journey such as the position you're in right now you have to decide if you want to be bothered with your crap cards or cut them loose and move on.

I had a $1500 carry over from the old HSBC days before the meltdown and it would never move.  I killed it off 2 years ago and haven't looked back.  On the flip side collecting free money became somewhat of a hobby and Savor came onto my radar for $500 and well, too good at collecting card approvals is a double edged sword.  Denied twice w/ 800's and clean reports.

If they can't make money off your spending habits you're not going to get anywhere with them.  They're robots when it comes to things like approvals or a CLI.  No recon, no discussion, nothing.

Since cutting them loose and concentrating on better options I've added 15/24 and 2.5X my TCL.  

TLDR.... if you're not rebuilding or new to credit Cap1 prefers not to work with you 

[CreditInspired]

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@Gonzozap wrote:

Wondering about others' experience with this scenario.

I have 2 cards from Cap1 that I got when I initially began rebuilding.  Started at a 500 limit.  When I try to get CLIs, they only give me $100 or $200 dollars - but once I did get an automatic $500 CLI.

Never late, balance kept low or zero.  Scores now over 760.  But in trying to get a regular card, I am denied for crappy reasons no other lender uses.  e.g., inquiries (6 in 15 months), recent accounts opened, etc.

I'm wondering if when Cap1 places cardholders in that "once bad credit tier," they are permanently stuck there and can never get a regular, high limit card.

Anyone experience this?.

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Yep, your Cap 1 card is bucketed so it’s really going to remain stagnant. And yes, other lenders do indeed deny credit for too many inqs and recent accounts opened. 

[stonedog23]

The OP’s reasons for denial are more reasonable than the Cap 1 credit increase denials I have gotten. I get balances are too high for income, despite only 10% usage across the board, not enough use of the card despite them saying I use too much credit, or just plain not eligible. Mine started at $1000 and a $500 increase at 6 statements. I used that card the other day to break into my laundry room.

[Gonzozap]

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@CreditInspired wrote:

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@Gonzozap wrote:

Wondering about others' experience with this scenario.

I have 2 cards from Cap1 that I got when I initially began rebuilding.  Started at a 500 limit.  When I try to get CLIs, they only give me $100 or $200 dollars - but once I did get an automatic $500 CLI.

Never late, balance kept low or zero.  Scores now over 760.  But in trying to get a regular card, I am denied for crappy reasons no other lender uses.  e.g., inquiries (6 in 15 months), recent accounts opened, etc.

I'm wondering if when Cap1 places cardholders in that "once bad credit tier," they are permanently stuck there and can never get a regular, high limit card.

Anyone experience this?.

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Yep, your Cap 1 card is bucketed so it’s really going to remain stagnant. And yes, other lenders do indeed deny credit for too many inqs and recent accounts opened. 

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I'm not a complete novice with credit.  I realize lenders deny for too many inquiries, AAoA, new accounts, etc.  I am only focusing on my situation.  I do not have too many inquiries or too many recent accounts, at least not in the eyes of other lenders.  Not even Chase would think I have too many accounts in the last 24 months.  I tend to believe it's an "excuse" denial.

[Gonzozap]

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@Anonymous wrote:

Nope, they don't bucket people they bucket cards.  Plenty of instances of that around here.  However once you hit a certain point in your journey such as the position you're in right now you have to decide if you want to be bothered with your crap cards or cut them loose and move on.

I had a $1500 carry over from the old HSBC days before the meltdown and it would never move.  I killed it off 2 years ago and haven't looked back.  On the flip side collecting free money became somewhat of a hobby and Savor came onto my radar for $500 and well, too good at collecting card approvals is a double edged sword.  Denied twice w/ 800's and clean reports.

If they can't make money off your spending habits you're not going to get anywhere with them.  They're robots when it comes to things like approvals or a CLI.  No recon, no discussion, nothing.

Since cutting them loose and concentrating on better options I've added 15/24 and 2.5X my TCL.  

TLDR.... if you're not rebuilding or new to credit Cap1 prefers not to work with you 

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Not losing any sleep over Cap1.  It's just curiosity.  I don't need their card or any card at all.  I have a boatload of great cards with nice limits.  More trying to understand how they think.

Prefer not to cancel the cards right now since they help my AAoA. They were the 1st cards I got when I began rebuilding.  No annual fees, so no harm done.

[Anonymous]

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@Gonzozap wrote:

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@Anonymous wrote:

Nope, they don't bucket people they bucket cards.  Plenty of instances of that around here.  However once you hit a certain point in your journey such as the position you're in right now you have to decide if you want to be bothered with your crap cards or cut them loose and move on.

I had a $1500 carry over from the old HSBC days before the meltdown and it would never move.  I killed it off 2 years ago and haven't looked back.  On the flip side collecting free money became somewhat of a hobby and Savor came onto my radar for $500 and well, too good at collecting card approvals is a double edged sword.  Denied twice w/ 800's and clean reports.

If they can't make money off your spending habits you're not going to get anywhere with them.  They're robots when it comes to things like approvals or a CLI.  No recon, no discussion, nothing.

Since cutting them loose and concentrating on better options I've added 15/24 and 2.5X my TCL.  

TLDR.... if you're not rebuilding or new to credit Cap1 prefers not to work with you 

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Not losing any sleep over Cap1.  It's just curiosity.  I don't need their card or any card at all.  I have a boatload of great cards with nice limits.  More trying to understand how they think.

Prefer not to cancel the cards right now since they help my AAoA. They were the 1st cards I got when I began rebuilding.  No annual fees, so no harm done.

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Closing a card will not affect your Average Age of Accounts. An account closed in good standing will remain on your credit report for up to ten years.  When the account is eventually dropped after 10 years, your other accounts would have aged for a similar amount of time so the effect is negligible or none at all.

[pinkandgrey]

No, it’s the CARD that’s stuck. People can move on and get a HUGE limit from Cap One later via a Savor, Venture, or any prime card. The PERSON doesn’t get bucketed.

[Shooting-For-800]

Cards are bucketed but not clients.

My first card after starting rebuild was $3,000 platinum 4 years later I got a $30,000 venture.

My single highest CLI with Cap One was $8,000 going from $3,500 to $11,500.

Some people on here have grown bucketed cards over a period of 3-5 years but it is much easier to just apply for a new better card.  

If your score is dramatically better now than it was when you opened your started cards, you should be able to get a nice card with a nice SL.

Check prequals for Venture.  If you prequal for Venture, any new card you get should have a nice limit.

GL!

[Gonzozap]

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@Anonymous wrote:

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@Gonzozap wrote:

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@Anonymous wrote:

Nope, they don't bucket people they bucket cards.  Plenty of instances of that around here.  However once you hit a certain point in your journey such as the position you're in right now you have to decide if you want to be bothered with your crap cards or cut them loose and move on.

I had a $1500 carry over from the old HSBC days before the meltdown and it would never move.  I killed it off 2 years ago and haven't looked back.  On the flip side collecting free money became somewhat of a hobby and Savor came onto my radar for $500 and well, too good at collecting card approvals is a double edged sword.  Denied twice w/ 800's and clean reports.

If they can't make money off your spending habits you're not going to get anywhere with them.  They're robots when it comes to things like approvals or a CLI.  No recon, no discussion, nothing.

Since cutting them loose and concentrating on better options I've added 15/24 and 2.5X my TCL.  

TLDR.... if you're not rebuilding or new to credit Cap1 prefers not to work with you 

---

Not losing any sleep over Cap1.  It's just curiosity.  I don't need their card or any card at all.  I have a boatload of great cards with nice limits.  More trying to understand how they think.

Prefer not to cancel the cards right now since they help my AAoA. They were the 1st cards I got when I began rebuilding.  No annual fees, so no harm done.

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Closing a card will not affect your Average Age of Accounts. An account closed in good standing will remain on your credit report for up to ten years.  When the account is eventually dropped after 10 years, your other accounts would have aged for a similar amount of time so the effect is negligible or none at all.

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That's interesting MaizeandBlue.  That's what I thought at one point also.  But I canceled a card about a yr ago and my score dropped a bit AND my AAoA went down.  I could only equate it to that.  I'm confused now.