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Hi all,
I have the Platinum, upgraded to the QS MC at about 1-2 months, got the CLI after 60 days and the credit steps after 5 on-time payments, putting my card at $2,000. It's been 6 months since my last increase and this month I've had my card 1 year.
Tried for a CLI and got the 2-3 day message. Thought I must have tried a few days too early as my last increase was in July.
NOPE! Denied due to too many inquires on Equifax!
I don't remember reading about Cap One denying for inquires. Anyway, I do have 18 I think and 15 are from auto loan applications in August.
Not sure how long I should wait to try again. I did notice on Equifax that a few of the places my dealership sent the application to did more than one inquiry so maybe I can get Equifax to remove the duplicates. It's worth a try.
Very surprised at Cap One. Has anyone else had this experience?
Thanks in advance for any replies.....
Hi Ladybug, I don't have experience with Cap One but have you tried opening a card with a credit union? They are more generous especially Navy Federal has been known to give out large limits to those who are rebuilding. Anyone can join them now.
Hi tydawg!
Thanks so much for your reply.
I actually did join Navy Federal and have their Cash Rewards and Checking Line of Credit.
Modest starting limit on the Rewards of $1,300 but I'm happy with that and I know (fingers crossed) it will grow.
I've only had it since December so it's pretty new.
Thanks again for the great advice!
I opened a Venture One in August. As per my usual experience with Cap One, I tried for a CLI at 90 days. It was denied, sole reason too many inquiries. I have tried two more times since and still denied same reason. They are correct, I have too many inquiries, but it does seem like Cap One has tightened up recently.
Same. I just had a Capital One cut its 5th statement and no CLI love from them at all. Every time I get the response that I have too many recent inquiries. I don't have any inquiries on Equifax in the last 5 months and the last one I have on there is from Capital One. I put at least $300 a month spend through that card and pay it almost completely off every month.
Thanks so much washpadude & momx5 for your replies!
Guess they are tightening up.
I've read a zillion posts on this forum in the past year and I just don't remember reading that inquires were a reason for denial in the past.
I'd be nice to know how many they think is too many.
Thanks again!
@its_mona wrote:
Ladybug2016 just had this same exact issue. Had my card 1yr this month, guess I'm stuck with this measly $1300...funny thing is i started a chat to find out what was too many and the reaponse I got eas basically equifax just tells them you have too many inquiries. I call BS but oh well, it will just stay put away for another 6months.
Hi Mona,
Thanks for your reply and sorry you had the same experience.
I tried again last night with the same results.
How many is too many? 1 haha?
Good luck to you the next time you try!
There have actually been a few in recent weeks reporting the same thing. I got my 3rd cut increase a couple of days ago with 5 EQ inquiries. For the sake of science, I should see if I get declined on my credit steps by having too many at that point. TIme for an app spree... I mean, science.
Hi ! This actually just happened to me Tuesday! I had set my calendar to alert me when to request my increase ( as I do every 6mths) I hit the love button and got the same message. I will receive a letter in 2-3 days. I was completely shocked!! I have been with Cap 1 since 2013 , I have 2 cards with them NEVER been late or over the limit. Heavy usuage with very low balances! They declined my increase for inquiries as well. UNFINGBELIEVABLE! I just went car shopping last year around this time and received like 10 hard pulls on my 2016 new car( which I love) BUT , still really pissed at this. I am definitely going to write the CEO and explain how I feel.