Master Capital One CLD Thread

[adelphi_sky]

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@Anonymous wrote:

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@adelphi_sky wrote:

This action is because of the pandemic and the economic recession. Pure and simple. Here's an idea for the banks who have been around for about 100 years. STOP GIVING PEOPLE REDICULOUSLY HIGH SLs. That way, they don't have to CLD anyone. Great idea right? But no. For some reason, they let that automated SL algorithm spew out $10k here and $20k there. 

Also, when people ask for CLIs, make them prove their spend justifies it. Or stop the AI from raising it every 6 months. There are ways around looking like a mean old Scrooge. On the other hand, people are told to keep cards open to increase their AAOA. So, they buy coffee every month. The bank then decreases their CL because the customer only spends $5 a month on it. But when people complain about the lower limit, they get reprimanded for it. "You shouldn't complain. You knew it would happen. It's just the way things are." 

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But....!   My guess is that it's mainly MyFico-like people who are being impacted by this.   Normal people don't have a whole load of credit cards, let alone cards from one issuer, and don't ask for CLIs as often as possible.   And so, if banks followed the bolded advice, we we see lots of complaints here, firstly asking how to get a CLI, then "I'm closing this card because it won't grow" 

Again I am guessing that some portion of the large CLs that have been chopped (or card closed in the case of some issuers) got there by CLI requests, so, IMO, the blame is partly shared.

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I can see that. MyFico is a microcosym of the larger population. 

[blindambition]

My statement closed the 21st, all intact at the moment. Thought Saver would survive with 3k since February, but QS only has Experian subscription. Just put my 6 month Renter policy on QS. Hopefully I survive another month.

[recoveringfrombk7]

DH just got a CLD on his bucketed 20 year old platinum with an AF of 60$ that they refuse to PC.  We decided it's time to tell them to kick rocks.  It's not that I don't understand why they did it, but it has been frustrating to be locked into a card that is virtually useless paying an AF they refuse to waive.  He's put plenty through it over the time he has had it.  We are officially done with CapOne now and not sorry about it.

[91173]

I got hit today -- $27.5K->$10K on my QuickSilver.

Funny thing is they gave me that limit. I've never asked for an increase. They opened it at $20K back in 2006 and then at some point bumped it to $27.5K. I've had up to $8K on it in a month, but not in the last two years, which is what the email said it's based on.

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[Anonymous]

slashed my limit from 10k to 5k. Hardly used it bc got better cards. Started at 20k then CLI to 25k then AA(like 4 yrs ago) slashed to 10k. Life goes on!

[NoMoreE46]

Here's my specific Savor CLD:

17,000 to 5,000.

[Anonymous]

I fully expect a stream of comments saying: "Joke is on Capitol One. My card was bucketed at $1,000".

[Anonymous]

CLD amounts I have seen so far have been $10K, $5K, $2K, and $1500. It seems to be purely based on the amount of spend the cards get over the last 1-2 years no matter the card family, even business cards have gotten the chop. 

[wasCB14]

I wonder where mine would be if I hadn't already closed it.

$20k CL and TTM spend by now would be under $500.

[Ficoproblems247]

I was approved in February '20 for the card @ 15k. CLI at 91 days bringing it to 16k. I would fully expect a CLD as my spend is $500-$1,000/month on this card exclusively in the 4% categories with PIF. I'm wondering if I should take a heavy spend month and run 3-4k through it sometime right before the first year is up to help me weather the storm with my CL intact. I don't need it that high, but my next highest limit is half of that so...