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Issues with Capital One

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Anonymous
Not applicable

Issues with Capital One

I applied for a CLI on my Capital One Quicksilver card when i reached the 6 month interval and was denied. When I got the letter giving their reason they stated it was because my credit score was too low. They said my EQ score was 531! First, my EQ score has never been that low. Even with the collections on my reports it never went that low. So their information is wrong. I called EQ and asked them why its so low all of a sudden. They said im at 618 and Capital One has made no inquiries. Second, my history with Capital One is damn near perfect. I pay on my cards so often that I never even have a payment due. I wrote the underwriters department explaining to them that the information they provided was wrong and that EQ has no record of them pulling my report. Their response was " Please contact the credit reporting agencies to understand your issue better". What the hell do i do now? I cant find a number to speak to them. The best I got last time I was on the phone with them for over an hour was the fax number for the underwriters and instructions on how to fax them a letter stating my case. Any suggestions? Capital One has been amazing until recently. 

Message 1 of 9
8 REPLIES 8
OmarGB9
Community Leader
Super Contributor

Re: Issues with Capital One

They don't use FICO 8 EQ score. They use FICO 04 EQ. Also, they SP like once every couple of months, which is why your scores are so off. Not sure there's much you can do other than waiting more. The "6 month CLI" is not a guarantee by any means. They don't just give you more credit in exchange for a certain amount of time.

Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 2 of 9
Anonymous
Not applicable

Re: Issues with Capital One


@OmarGB9 wrote:
They don't use FICO 8 EQ score. They use FICO 04 EQ. Also, they SP like once every couple of months, which is why your scores are so off. Not sure there's much you can do other than waiting more. The "6 month CLI" is not a guarantee by any means. They don't just give you more credit in exchange for a certain amount of time.

 I understand they just dont hand out CLI. But by their own policies there shouldnt be a reason they wouldnt give me one. Except for that insanely wrong score. No matter what FICO model they use I would think EQ would at least know about them looking into it. Are SP completely under the radar?

Message 3 of 9
Anonymous
Not applicable

Re: Issues with Capital One


@OmarGB9 wrote:
They don't use FICO 8 EQ score. They use FICO 04 EQ. Also, they SP like once every couple of months, which is why your scores are so off. Not sure there's much you can do other than waiting more. The "6 month CLI" is not a guarantee by any means. They don't just give you more credit in exchange for a certain amount of time.

So they SP and just use that score for a couple of months instead of pulling a fresh score? That explains a lot.   Smiley Surprised

Message 4 of 9
djshifted
Regular Contributor

Re: Issues with Capital One

 

 


@Anonymous wrote:

@OmarGB9 wrote:
They don't use FICO 8 EQ score. They use FICO 04 EQ. Also, they SP like once every couple of months, which is why your scores are so off. Not sure there's much you can do other than waiting more. The "6 month CLI" is not a guarantee by any means. They don't just give you more credit in exchange for a certain amount of time.

So they SP and just use that score for a couple of months instead of pulling a fresh score? That explains a lot.   Smiley Surprised



Some creditors use recent SP's, but others will use the same pull for several months.  I think it's typically 60-90 days, but Comenity has once declined a CLI for me off of a 5 month old pull.

Starting Scores (12/2012):EX 506; EQ 511; TU 518 | Current Scores (01/2016):EX 662; EQ 656; TU 653
Message 5 of 9
OmarGB9
Community Leader
Super Contributor

Re: Issues with Capital One

In my experience, they do rely on two-month old SPs, yes. I recently asked for a CLI on my QS myself, and they denied me for the same reason: score too low. I saw the date of the SP on the letter, and it said November. :/

Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 6 of 9
Anonymous
Not applicable

Re: Issues with Capital One


@OmarGB9 wrote:
In my experience, they do rely on two-month old SPs, yes. I recently asked for a CLI on my QS myself, and they denied me for the same reason: score too low. I saw the date of the SP on the letter, and it said November. :/

I just got off of the phone with them. The supervisor on the phone said my history is phenomenal and that he doesnt know why the computer keeps kicking it back. His advice was to put in for the CLI every couple of days. They dont seem to understand that the score they are basing their decison on is a score ive never had. Oh well. Ill just wait it out i guess. 

Message 7 of 9
Loquat
Moderator Emeritus

Re: Issues with Capital One


@djshifted wrote:

 

 


@Anonymous wrote:

@OmarGB9 wrote:
They don't use FICO 8 EQ score. They use FICO 04 EQ. Also, they SP like once every couple of months, which is why your scores are so off. Not sure there's much you can do other than waiting more. The "6 month CLI" is not a guarantee by any means. They don't just give you more credit in exchange for a certain amount of time.

So they SP and just use that score for a couple of months instead of pulling a fresh score? That explains a lot.   Smiley Surprised



Some creditors use recent SP's, but others will use the same pull for several months.  I think it's typically 60-90 days, but Comenity has once declined a CLI for me off of a 5 month old pull.

Had that issue with Comenity...PayPal...kept using 4 month old score.  I gave up...only use the account for minor things on eBay from time to time...

 

Message 8 of 9
Anonymous
Not applicable

Re: Issues with Capital One

+1. Comenity for sure.  Seems like quarterly SP's and in 6 months my scores raised a lot.  

 

Just keep trying the luv button sporadically.  Wait a couple weeks, give it a tap.  They'll SP sooner than later.   I feel your frustration. Sorry darlin.

Message 9 of 9
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