Massive CLD from Cap One

[Credit-hoarder]

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@Gmood1 wrote:

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@HeavenOhio wrote:

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@Gmood1 wrote:
I don't think you have anything to worry about..as long as you let your activity report.

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I just got CLIs on my three Capital One cards today. On two of them, I haven't let a balance cut in months. On the other, I've been alternating between zero and small balances. I think that other than paying in full, which is always important, the main thing they're looking for is spending that's appropriate for your limit.

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Thanks for the data points. I was referring to other cards outside of Capitol One. I agree, they could be looking at your spending across all accounts, not just theirs. I'm in that let balances reporting camp. I know some like to tweak scores(which is fine for big financed purhases). IMHO, showing a steady history of payments, outweighs having accounts that look good on paper but also look unused to other creditors.

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+1. Out of 36 cards I might let maybe 1/3 or a little more report--but not enough to let my UTL run above 5% across all accts. combined at any given time--and not more than I would NOT be able to pay off all accts. tomorrow if I absolutley had to for some reason.

[Total80sKid]

If I worked hard to earn good credit and get my card limits up high, then I shouldn't be nervous every day to see if my limit was lowered.

And emergencies come into play.

My mom was disabled all of her life due to an accident at the age of 13.

Her income was just a bit higher than mine and had stellar credit. Not one late or missed payment and had over $100k in credit.

People earn their good credit and limits most of the time. How much you make should be irrelevant.

If I'm making less than $12k a year it doesn't mean I shouldn't be allowed a limit several times higher than my income.

Being poor or low income does not mean we will live beyond our means. We have obviously proved we are reliable when it comes to paying our debt back.

I have a perfect payment history without a BK and see plenty of people here with lates and BK's approved for all kinds of things I'm not approved for.

There's a reason we have credit scores.

You take care of your financial responsibilities and use credit wisely, they reward you with higher limits and lower APR.

Sorry, but for me personally, if I worked hard for a good score, got a nice limit because of my credit history, you bet I'd be upset if they CLD me just because I'm not maxing out a $25k card and paying it off immediately.

Hence the name: Credit.

[Credit-hoarder]

@80's Kid: I don't necessarlly think CO wants people with higher limits to max them out and pay them off immediately---I think they just want to see some usage. I.E. maybe 10% to 30% minimum of the CL given yearly on the higher limits ($30K or more) and letting a balance report for at least a few statements. On a line that large those parameters IMO would constitute usage. Only using $100 of it per year and paying it off before or even after the statemet hits IMO would justfy a CLD also..

[Anonymous]

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@Total80sKid wrote:

If I worked hard to earn good credit and get my card limits up high, then I shouldn't be nervous every day to see if my limit was lowered.

And emergencies come into play.

My mom was disabled all of her life due to an accident at the age of 13.

Her income was just a bit higher than mine and had stellar credit. Not one late or missed payment and had over $100k in credit.

People earn their good credit and limits most of the time. How much you make should be irrelevant.

If I'm making less than $12k a year it doesn't mean I shouldn't be allowed a limit several times higher than my income.

Being poor or low income does not mean we will live beyond our means. We have obviously proved we are reliable when it comes to paying our debt back.

I have a perfect payment history without a BK and see plenty of people here with lates and BK's approved for all kinds of things I'm not approved for.

There's a reason we have credit scores.

You take care of your financial responsibilities and use credit wisely, they reward you with higher limits and lower APR.

Sorry, but for me personally, if I worked hard for a good score, got a nice limit because of my credit history, you bet I'd be upset if they CLD me just because I'm not maxing out a $25k card and paying it off immediately.

Hence the name: Credit.

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Score is not the only deciding factor when it comes to credit and credit limits. It's many other factors as well. And income is a big one. If you earned $12k and I were a bank. You would get maybe a 2k SL. Why, because you don't make enough to be trusted with a 36k SL. And if you maxed it. The likelihood is the bank will get screwed.

[Appleman]

'People earn their good credit and limits most of the time. How much you make should be irrelevant.'

Had to read that line a few times. Income or how much you make is completely relevant when it comes to granting credit lines. Notice how anytime you request a credit line increase they ask for your income. Yes, people that use credit wisely will earn more credit but there is a limit. 

'Federal regulations generally require that credit card companies use up-to-date income information when considering an account for a credit limit increase.' 

Source: https://www.capitalone.com/credit-cards/blog/credit-limit-increase/

[driftless]

For the posters who have experienced CLDs can you tell us how many cards you have and you total CL? Thanks.

[Credit-hoarder]

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@driftless wrote:
For the posters who have experienced CLDs can you tell us how many cards you have and you total CL? Thanks.

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Just to clarify do you mean ALL credit cards and total CLs or JUST Capital One products?

[Anonymous]

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@driftless wrote:
For the posters who have experienced CLDs can you tell us how many cards you have and you total CL? Thanks.

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~ 15-20, total CL around $450K.    Penfed closed one of my unused cards, waiting to see what happens to my other unused cards (e.g. a $30K Nasa).

[driftless]

I meant all cards and CLs.

[morgacj2004]

Our income is around $110-115k Have around 20 accounts with about 250k available credit 4% UT. No late payments since 2012. Mortgage and one car payment. There is absolutely no reason for a CLD since my wife did use this account as I previously stated.