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CAPITAL ONE Roller Coaster Ride 🤬

Wavester64
Valued Contributor

CAPITAL ONE Roller Coaster Ride 🤬

So if you check my sig, I have 3 C-1 Cards.

 

The other day, it was 181-days since my last CLI for the Savor One card, so I decided to give it a go for another CLI.

 

I didn't get a reply right away, but eventually it was declined for the reason "Recent use of this account's existing credit line has been too low". I was thinking at least they didn't lower it.

 

So just now I am going thru my emails and I see an email from C1 entitled " Important Update About Your Credit Limit.."

 

I was thinking wait....maybe they reconsidered? Am I getting a CLI now?? Are they just reiterating what they already said?

 

Open the email to find this about another C1 CC of mine:

 

"...During a regular account review, we noticed you’ve only been using a portion of your credit limit.

 

To better fit your card usage, we’ve reduced your credit limit to $1,500.

 

We’ve kept your credit limit significantly above your highest balance over the last year to ensure you can use your card as you have been, while providing flexibility for future spending. Everything else on your account will remain the same, and we’ll follow up with additional information by mail.  Thanks for being a Capital One customer..."

 

So trying to get a $2K increase on one card ended up being a $4500 decrease on the another.

 

And just to warn you - if you think a small charge each month is going to save a C1 card, think again. That is exactly what I was doing religiously with the card that got a CLD. In hindsight, maybe I am wrong, but I might have drawn attention to myself with the CLI request on the Savor in these troubling times just for that action to hit me in the a** with the other card.

 

I can't close this card either because its my oldest active card.

 

I dont think I am going to debate it either. You would think C1 would think about the savings, the checking, the CDs, the CCs, the closed fully paid auto loan, all the business I have done with them over the years to not do this, but they did it anyway.

 

So much for driving up CL's to get better scores just to have it taken away in a flash Smiley Sad







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11 REPLIES 11
Veronik2019
Valued Member

Re: CAPITAL ONE Roller Coaster Ride 🤬

Tbh a cli request has to be justified by your higher spending on the card, more in this Covid era. If you barely use the card, the issuer won't give in. They are protecting future losses.

Message 2 of 12
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: CAPITAL ONE Roller Coaster Ride 🤬

Are you seriously surprised after having been on the forums for a while?




Message 3 of 12
AzCreditGuy
Frequent Contributor

Re: CAPITAL ONE Roller Coaster Ride 🤬

It has taken me 5+ yrs to even get at $7k CL and I use to get the your account balance is too high  followed by the your account balance is too high routine every 6 months or so requesting a CLI. I just got my $500 CLI last month which put me at $7k. Ive figured out a way to get those CLIs and using Cap 1 ones money and not paying any interest or fees. Good luck with Cap1 they are a game in which you got to know how to play them..

Message 4 of 12
Saeren
Mega Contributor

Re: CAPITAL ONE Roller Coaster Ride 🤬

Nah take a look around the forum. Capital One is giving free haircuts to lots of us. They gave me a buzz cut to $2K on my V1 this morning, my first ever CLD. 

I am a little bit annoyed that I got a chop down to less than 25% of my limit but life goes on. 

Now if they chop the SavorOne I'm just going to close it. Not really a card that fits my spend very well so I would rather not have it drag down my average credit limit when I won't use it. I use my V1 for websites that don't take Amazon or PayPal payment since I make VCCs for those so it still has a purpose besides being my oldest card. 





Message 5 of 12
Wavester64
Valued Contributor

Re: CAPITAL ONE Roller Coaster Ride 🤬


@Brian_Earl_Spilner wrote:

Are you seriously surprised after having been on the forums for a while?


Disappointed more than surprised. 

 

Especially coming on the heels of a CLI request on another C1 card.







Potential Future Cards
Message 6 of 12
coldfusion
Community Leader
Super Contributor

Re: CAPITAL ONE Roller Coaster Ride 🤬


@Wavester64 wrote:

@Brian_Earl_Spilner wrote:

Are you seriously surprised after having been on the forums for a while?


Disappointed more than surprised. 

 

Especially coming on the heels of a CLI request on another C1 card.


Keep in mind that the CLI request drew eyes to your portfolio. 



(4/2021)
FICO 8 (EX) 815 (TU) 822 (EQ) 808
FICO 9 (EX) 827 (TU) 826 (EQ) 832

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 7 of 12
blindambition
Community Leader
Senior Contributor

Re: CAPITAL ONE Roller Coaster Ride 🤬


@Saeren wrote:

Nah take a look around the forum. Capital One is giving free haircuts to lots of us. They gave me a buzz cut to $2K on my V1 this morning, my first ever CLD. 

I am a little bit annoyed that I got a chop down to less than 25% of my limit but life goes on. 

Now if they chop the SavorOne I'm just going to close it. Not really a card that fits my spend very well so I would rather not have it drag down my average credit limit when I won't use it. I use my V1 for websites that don't take Amazon or PayPal payment since I make VCCs for those so it still has a purpose besides being my oldest card. 


I feel the same. I'd keep my QS with a 1k limit, it's my oldest by years.

If they cut Saver One, I'll pay off and close myself. I have AOD and Verizon that give same 3%. No sweat off my back.

Message 8 of 12
GApeachy
Super Contributor

Re: CAPITAL ONE Roller Coaster Ride 🤬

Sorry that happened @Wavester64 .  

"My Take Home Pay Don't Take Me Home"
Message 9 of 12
Face_Value
New Contributor

Re: CAPITAL ONE Roller Coaster Ride 🤬

         Being a customer of capital one for many years I can speak to the fact that all your other banking history will have NO affect in any credit decisions they make. Infact ALL capital one's credit decisions are made by a computer! I can't stand capital one anymore and am in the process of moving my money to a credit union. Capital one has been moving to an all online banking model for quite some time  now. Gone are they days of having a loan officer and a human being look at your situation. They have become to big for their own good these day IMHO.

Message 10 of 12
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