Trouble with Capital One CLI??

[Lkb273]

Anyone else having this problem??

I have been with Capital One since 2004.  I started with a CL of $1,000, was boosted to $1,300 I want to say more than 3 years ago, but nothing since.  I have always had excellent payment history, but high (near 100%) utilization.  I always pay more than the minimum.  I have been really trying to turbo clean my credit, and in December '12 I called to ask if they could lower my interest rate, or raise my CL, and the answers across the board were NO.  Since then I have been making large payments 2x per month, along with some utilization (I use it now for work expenses), and my util stays at about 50%.  I called again two days ago, and was told that there is no option for a CLI, a rate decrease, or an upgrade.  I'm miffed!  I have never been late on any Cap One payments within the last 3 years!  What is their problem?

The woman (manager) I spoke with asked me if I have been monitoring my credit, and if I am aware of my score, and I told her yes, and that my credit is clean, and that my score is decent (670 TU).  She seemed miffed, as well.  She said that if any CLIs or rate decreases become available, I'll see it on my statement.

I checked the backdoor numbers post, and it looks like Cap One has a rep for not doing CLIs at the customer's request.  What can I do? - this low limit is limiting me from improving my credit!!!  P.S. I was approved for a Discover IT card yesterday, for a $1200 limit, which I am using to transfer balances and pay off my cards even faster.  So clearly, my credit isn't the problem.

I have been Cap One's customer for close to 10 years, what can I do?  Any suggestions? 

[burntreality]

OP try contacting the EO via email.  It has been discussed on the forums with much success.

[Lkb273]

Thanks, I'll check it out!  Appreciate it!

[burntreality]

Here is the thread with all the info you will need.  Good luck to you and keep us updated 

http://ficoforums.myfico.com/t5/Credit-Cards/How-to-get-a-PC-or-CLI-from-Capital-One/m-p/1690104

[Lkb273]

Thank you!!

[Lkb273]

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@burntreality wrote:

OP try contacting the EO via email.  It has been discussed on the forums with much success.

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Just sent off my email!  Wish me luck!   You have been a great help!

[ryanbush]

Do a little reading on this board and you will find a ton of helpful info about this subject.

[youngandcreditwrthy]

Pretty much the only way to get a cli on C1 is to email the EO.

[Pilotdude]

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@Lkb273 wrote:

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@burntreality wrote:

OP try contacting the EO via email.  It has been discussed on the forums with much success.

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Just sent off my email!  Wish me luck!   You have been a great help!

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Good luck!  I got them to triple my CL two days ago on my Cash rewards card and this morning, my wife also got a CLI from the Exec office.  They haven't called my wife yet but the CLI was present when I checked her account status online this morning.

The exec office is very helpful and nice to deal with.

[Tazman81]

OP, also remember that utilization plays a big role in your credit score.

You stated "this low limit is limiting me from improving my credit!!!"

This is not necessarily true.  While you are correct that getting a higher limit will help your score, but it is not because the limit is higher.  It will only help your score if you get an increased credit limit, but do NOT increase the amount of credit card debt that you have.  Another way to increase you score without the higher limit is to pay down your credit card debt to under 9% utilization.

However, I do still disagree with Captial One's practices of making it so difficult to get a credit limit increase, especially for long term customers.  Have you considered trying to get a credit card with a local Credit Union?