Strange behavior

bluetegu · ‎03-29-2020

So Discover has notified me it has upped late fee's from 29 to 40$. And my most recent Capital One CLI gave a denile for reasons I've not seen before... "A credit limit increase is currently not available upon request because Capital One is evaluating account activity at assigned credit limits."

M_Smart007 · ‎03-29-2020

@bluetegu wrote:
So Discover has notified me it has upped late fee's from 29 to 40$. And my most recent Capital One CLI gave a denile for reasons I've not seen before... "A credit limit increase is currently not available upon request because Capital One is evaluating account activity at assigned credit limits."

Many lender's have upped late fee's. Another good incentive to not be late ..

and that is not considering 7 years bad luck if it turns to 30+ days late!

The "jargon" from Capitol One is just another excuse to not give a CLI.

Kforce · ‎03-29-2020

@M_Smart007 wrote:
@bluetegu wrote:
So Discover has notified me it has upped late fee's from 29 to 40$. And my most recent Capital One CLI gave a denile for reasons I've not seen before... "A credit limit increase is currently not available upon request because Capital One is evaluating account activity at assigned credit limits.
Many lender's have upped late fee's. Another good incentive to not be late ..
and that is not considering 7 years bad luck if it turns to 30+ days late!
The "jargon" from Capitol One is just another excuse to not give a CLI.

If I was a bank or CU, with the current financial issues, I would be keeping a close eye on my customers.

Not really a good time to be raising CL's for those that just want it.

Some might really need it or deserve it, but not all.

As for minimum, if someone can't get you $40 a month do you really need to have them as a customer?

Just put your self in the shoes of a bank.

Ficoproblems247 · ‎03-29-2020

Not so much strange. Disco upped their late fees for everyone as their new policy. I got my notice a couple of months ago I think. It was before all of this even got kicked off. As far as Cap1 goes, that seems to be their new favorite flavor of response for CLI denial. I've seen a whole bunch of members post that exact wording lately.

FICO 8 EX 836 EQ 838 TU 831
TCL $223,100

Anonymous · ‎03-29-2020

These are two separate things. That verbiage is standard Capital One CLI denial language.

The fee increases started at most CC companies at the start of 2020 before the current situation. I have never been late and most of my fees have gone up. Lots of people even with excellent credit have reported similar increases starting this year.

Anonymous · ‎03-29-2020

@Anonymous wrote:
These are two separate things. That verbiage is standard Capital One CLI denial language.
The fee increases started at most CC companies at the start of 2020 before the current situation. I have never been late and most of my fees have gone up. Lots of people even with excellent credit have reported similar increases starting this year.

I don't believe the CLI language is standard or another reason not to give a CLI. To me it is very clear. If you don't have large enough spend on your capital one card, a CLD might be coming. I was afraid of this, but we'll see what happens. This won't surprise me if they cut more CLs to make room for small business loans that might increase dramatically in the next month. And I don't believe at this time this will affect a ton of people, but that could change in the coming months.