Those who've been declined CLI for CapOne

Anonymous · ‎05-07-2017

For those who have been denied a CLI for CapOne for "too many inquiries or too many new accounts"... seems CapOne has been tightening up. I have read some other posts of people saying just apply for a new card and you'll get it. My question is this. If you were declined for a CLI for those reasons, would you not be denied a new card for the same reasons? I know the limit of the new card would most likely be better than what you would get on a CLI -but I still think the denial would come. Or is it that CapOne has only changed the way they do things when it comes to cLI and not new accounts?

In the last 6 months I only have 3 on TU, 1 on EQ, and 2 on EX. I have way more from 18-24 months ago-that is by far my biggest chunk of INQs.

I just either want to close my CapOne card, or open a Venture card and combine the QS into the new Venture. That is my dilemma. Close or try for a new card to combine and close???

Anonymous · ‎05-07-2017

Unfortunately Cap1 is unpredictable right now. If you asked six months ago I would say go for a new account. But right now its a crap shoot.

Appleman · ‎05-07-2017

Some Cap1 cards do not get CL increases often (some not at all).

I was stuck with a QS (originally a plat) that would never go above $3,800. At the time I had scores approaching 800 and other cards in excess of $25,000 for the credit lines.

I hit the CLI button one day and same result, no CLI for me. I had read on here about the Venture cards having big CL's so I apped a Venture One and received $20,000 instant approval. So today, I have a QS card that is $25K+ (thanks to combining limits) and a Venture that is at $10K (This was a new app to get sign on and convert to a no AF card)

I recommend you apply for the Venture One and get the bigger sign up bonus. Hopefully that will also get you a larger limit.

Anonymous · ‎05-07-2017

Cap1 isn't going anywhere so why not wait until those inquiries fall off. Do you really need a higher CL with Cap1 or can you get better benefits with another card? Ultimately, the choice is yours. Good luck!!

DaveInAZ · ‎05-07-2017

My original QS opened in Sept 2014 w/$10k SL never got a CLI, either auto or requested. The reason I was declined for a CLI was always "monthly payments too small", this even having a $4k BT that I paid off with large payments.

So last August when the pre-qual page gave me pre-approval for either another QS or Venture. I might have done better app'ing for a Venture as they seem to push the card I rarely travel so I app'd for QS & was approved with another $10k SL. In March I combined it with the orignal QS, giving it a $20k CL. The original QS has an APR of 13.45% APR while the 2nd one was around 20% APR, so easy choice which one to close..

As for being denied for a new card for the same reason a CLI was denied, Cap One's pre-qual has never steered me wrong.

Anonymous · ‎05-07-2017

I have a cap1 quicksilver one with a $1,500 limit. My minimum payment every month is about $27. I pay $75 a month on it. They denied my CLI saying my monthly payment amount is too small.

So I applied for a new cap1 card and was approved for the platinum with a $1,000 limit.

HeavenOhio · ‎05-07-2017

@Appleman wrote:
Some Cap1 cards do not get CL increases often (some not at all).
I was stuck with a QS (originally a plat) that would never go above $3,800. At the time I had scores approaching 800 and other cards in excess of $25,000 for the credit lines.

I hit the CLI button one day and same result, no CLI for me. I had read on here about the Venture cards having big CL's so I apped a Venture One and received $20,000 instant approval. So today, I have a QS card that is $25K+ (thanks to combining limits) and a Venture that is at $10K (This was a new app to get sign on and convert to a no AF card)

I recommend you apply for the Venture One and get the bigger sign up bonus. Hopefully that will also get you a larger limit.

The Venture is the premium card with the higher sign-up bonus.

UncleB · ‎05-07-2017

It seems all the old "rules" have gone out the window... or at least many of them.

I'll have a data point in June with my QS Signature Visa... it was nearly maxed last month before I PIF (limit is $10k) so lack of use can't be used as an excuse for that one.

The Venture WEMC I got in January has had consistent usage until this month, and the "customary" CLI request after the third statement was denied... oddly, I never got the letter on that one (I didn't have paperless set up yet).

From what I can tell, though, the pre-qual tool is still solid, at least for now.

Anonymous · ‎05-07-2017

Personally, I think it has jack poop to do with inquiries at all. It's just an easy turn down option for the system when they don't want to hand a CLI out. I believe Cap1 is slowing down due to losses...same as discover. You post huge losses and things will tighten up.

AverageJoesCredit · ‎05-07-2017

DJ, youd be best going for a Credit One , at least youll know where you stand