Master Capital One CLD Thread

[Save-n-Invest]

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@Anonymous wrote:

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@red259 wrote:

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That is kinda bull to be honest. They are doing at least some of these reductions based on credit use patterns not a risk in the consumer's ability to pay. If someone got a CLD and the only reason was lack of use of the full credit then they suddenly need the credit line and there is no issue with their credit worthiness then cap 1 shouldnt make them wait six months to increase the credit line for that reason. 

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They probably feel that is an unlikely situation, someone has been hardly be using the card, less than the new limit, and suddenly need nearly the old limit (and no other card to put it on).   It's possible, but far more likely that the CLI request is just to regain the old, unused CL.

Again, we really need to know if "normals" are being hit, or just MyFico types with multiple cards with outsize limits.

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Referring to myself as normal may be a stretch generally speaking. As for credit cards I accept the limit I'm given and don't ask for increases. Seems Cap One may have some issues so they slash limits. Donno. The fun part is that when the banks made risky investments  that don't pan out they come running to us the good old taxpayer for bailouts. Too bad we don't have the same option to decline.

I'm ok using cash, checks (remember those?) or debit cards. I stand by my assesment that banks are nuts!

[Anonymous514]

Kinda seems good. Less temptation/options for people to overcharge and spend outside of their means. 

[AverageJoesCredit]

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@Anonymous514 wrote:

Kinda seems good. Less temptation/options for people to overcharge and spend outside of their means. 

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problem with that is  most people just weren't using the limits not overspending or overcharging. . Were they having high balances and not paying them off fast enough maybe 🤔 

[Save-n-Invest]

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@AverageJoesCredit wrote:

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@Anonymous514 wrote:

Kinda seems good. Less temptation/options for people to overcharge and spend outside of their means. 

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problem with that is  most people just weren't using the limits not overspending or overcharging. . Were they having high balances and not paying them off fast enough maybe 🤔 

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Many of were penalized because we didn't overspend. Sort of entertaining in a way. <Mod snip:  Not here, please.  --UB> Bless their little subprime hearts. lol

[RootDet]

So far as of today my limits are safe. 

[timbalero]

I'm wondering if having my main checking and savings accounts with Cap1 is keeping me safe from CLDs (where I live there are plenty of branches). Nothing yet on my QS (10k) or my bucketed V1 (6.5k).

Quick edit: Forgot to mention I haven't put much spend on these cards lately, especially the V1, so I assumed I would have been affected but so far so good (knock on wood).

[Anonymous]

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@pizza1 wrote:

Just checked my card (Venture), and so far its still safe from any CLD...(knock on wood), but Im expecting it,  just a matter of time.

CL is $48K, (have had that limit for over 4yrs), and spend $2.2k-$3.5K monthly, with heavy wipes.

We'll see....

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Prime! Reduce it to $4,800! Should certainly reflect consumer loyalty that way

[UncleB]

Quick reminder:  Five things we don't discuss on myFICO:  http://ficoforums.myfico.com/t5/User-Guidelines-General/5-Things-We-Don-t-Talk-About/td-p/336929

[staticvoidmain]

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@timbalero wrote:

I'm wondering if having my main checking and savings accounts with Cap1 is keeping me safe from CLDs (where I live there are plenty of branches).

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Probably not. 360 is my main checking and savings as well, and still, I got a CLD. At this point, I'm pretty sure they only care about your usage. I would put a big spend on it, hoping it's not too late, and cross my fingers.

[recoveringfrombk7]

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@wasCB14 wrote:

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

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

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@wasCB14 DH had a 9500 limit slashed to 2k.  Only use had been the AF.