Capital One Credit Limit Increase Secrets

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
77 posts
MemberSince99
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Postby MemberSince99 » Wed Jul 11, 2012 8:15 am

From what I've read closing the account doesn't damage your credit. The account still reports positive history for 10 years. So there is literally NO reason to keep around a low limit card that charges an annual fee and that that will never grow with you. I might be the exception but I even closed their Green Cash rewards card with no fee and rewards that started with a decent limit (3K) when I got better cards.

Cap One is fine for rebuilding your credit. Once that is done, you really do not need them anymore and they should promptly hit the sock drawer if not the shredder.


RR101
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Postby RR101 » Wed Jul 11, 2012 12:57 pm

I agree thats what I did.

lucasoil4u
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Postby lucasoil4u » Wed Jul 11, 2012 2:26 pm

I think it is almost impossible to get a CLI with them. I have had success with discover and with citi and amex but never with Capital one. My fico score is 787 and no late payments or anything. They wont budge an inch. Good luck to you. Oh and it seems like everytime I talk to someone over there they get dumber and dumber.

MemberSince99
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Postby MemberSince99 » Wed Jul 11, 2012 3:05 pm

Oh yeah. I can well imagine calling for a CLI, it would go something like this:
CSR: Thank you for calling Capital One my name is George (yeah, sure!) may I please know your first and your last name?
Me: My first name is XXX and my last name is YYY.
CSR: Thank you very much for that Mr. YYY and how are you today?
Me: Very well thank you and yourself?
CSR: I am doing great thank you. How may I help you?
Me: I'm calling because I've had this card with you now for 5 years. I've always paid my bill in full and on time. My credit score is now upper 700s and yet this card only has a 750 limit which it's had for the last 4 1/2 years. I have cards now with almost 20 times that much as a limit. Needless to say this makes your card very unattractive to me and dificult to use, and frankly I've grown, so I would like for the card to grow a bit with me. Can you increase my credit line to match my new credit profile?
CSR: Well Mr. YYY this is a very good question. At Capital One, we are a very conservative lending institution. This is for your safety and security sir. We have provided you with a reliable card for 5 years now and we want to be around for you in another 5. As a result of this we are very careful about extending credit so that our company can remain strong and weather the difficult economic times we are in, which is again for your benefit. So congratulations on getting new cards with higher limits, is there anything I can help you with?
Me: Well that's wonderful but I'm still wondering if you are going to let your card grow with me? Can you give me a credit limit increase?
CSR: Thank you for your question sir. In answer to that, Capital One is committed to the safety and security of your credit card account and all personal information associated with it. This is to ensure your information remains safe with us. So you can sleep well at night knowing that Capital One is always working to keep you safe and protect your credit sir. Our system is very secure and provides state of the art security which allows you to remain worry free.
Me: That's wonderful but I think you are forgetting the question I asked you?
CSR: And which question is that sir?
Me: Whether or not you can give me a credit limit increase on my account! (Getting exasperated)
CSR: Of course sir. In accordance with our policy of being a consdervative lender, Capital One periodically reviews all of our accounts for eligibility for a credit line increase. If your account is eligible you will be notified by US mail within 10 to 14 business days that your credit limit has been increased and you may begin using the new limit immediately without the need for a new card to be sent to you. This is for your convnenience sir, and is just another way that Capital One is working hard for you 365 days a year.
Me: Thank you for the explanation of the automated process, obviously me qualifying for an automatic increase is about the same odds of me winning the lottery. Now can you please just please dear God before I go insane from frustration tell me if you can increase my credit limit at this time?
CSR: Thank you for your question Mr. YYY. Unfortunately at the present time Capital One is not accepting customer initiated credit line increase requests. This is due to the fact that we are a strong and vibrant conservative lending organization and to show that we appreciate your business and intend to be around for you in the future, we must limit our risk exposure. As you know, this is for your benefit and the security of your account sir. May I suggest sir that if you wish to increase your available credit, you simply make more frequent payments on your account? This is almost the same as a credit line increase as you will always have the maximum spending power available to you at all times, and your risk of fraud to your account is reduced as well which provides a benefit to your security.
Me: Wait a minute you're telling me that paying my bill more times a month is just like having a decent credit limiit? You're joking right?
CSR: Well sir I must inform you of how our payment process works. We are happy to accept your payment 24 hours a day 7 days a week 365 days a year, either online or on the telephone, as often as you wish up to once per day. Once your payment has been submitted the funds must then clear your bank before the amount can be posted to your account. Typ0ically this could be from a day up to 10 days, depending on your history with us and your credit. This is for your security so that your account is not over the limit and is for your protection sir. Once the process has completed your full credit line is then available to you.
Me: I know how to make a payment! What I'd like to know is why you don't adjust my credit available back for a week after my payment clears but that will be another hour of this circus and I still won't know. Anyway, you can't give me a credit limit increase so I maight as well give up right?
CSR: Well sir as stated Capital One is a conservative lending institution and thus at this time we are not accepting customer initiated credit line increase requests. But if you insist I can pull your credit on all 3 bureaus and you will be denied if it will make you feel better, would you like me to go ahead and do this for you sir?
Me: NO!!! Please do NOT pull my credit! Why couldn't you have just said so in the first place Peggy I mean "George". Thanks for your time and have a righteous day! (Click)
Someone please shoot me and stop the insanity!!!!!!!!!

MemberSince99
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Postby MemberSince99 » Wed Jul 11, 2012 4:45 pm

Another take off on the above might go something like calling them to find out why even though your payment cleared your bank days ago, your available credit takes 2 weeks to go back up, annihilating your ability to use your puny credit limit and putting you in danger of going over the limit:
CSR: Thank you for calling Capital One a conservative lending institution we are very much appreciating your business. This is Raghib speaking may I please know your first and last name?
Me: This is AAAA BBBBB
CSR: Thank you very much Mr. BBBBB I am very much appreciating your business today. How may I help you?
Me: I'm calling about the payment I made 10 days ago. It clearned my bank within 48 hours, but I am seeing on the website that my available credit has not been adjusted for the payment. Can you please explain to me why that is?
CSR: And thank you for this very good question Mr. BBBBB. I am understanding that you are wanting to know more about our payments. Capital One is very much committed to ensure that your payments are made in a very safe and secure manner to your account Mr. BBBBB. Thus we will have posted the funds to your account and your balance is now reading 0 is this correct?
Me: Yes this is correct, however my available credit has not been adjusted to the full 500 dollar limit. This makes the card difficult for me to use. I'm not sure why the availlable credit and the balance do not adjust together for the payment?
CSR: Yes I am happy to assist you with your question Mr. BBBBB. In regards to your question about your balance, I see that your balance is 0, your credit limit is 500 dollars, that you opened your credit card account with Capital One on April 18th, 2012 at 10:12 PM, that you have used your credit card 17 times since then and made a total of 7 payments to Capital One, which very much appreciates your payments and your business.
Me: Thank you for indepth analysis of my card, now can you please tell me why the holdup is on restoring my available credit?
CSR: Of course I will be happy to answer this question for you Mr. BBBB. At Capital One your safety and security are of vital importance to our conservative organization. Now I see that you have made a total of 2 payments to your credit card account within the last 10 days, and this is the problem for the cause of the delay in the available funds posting to the account, for your safety and your security Mr. BBBBB. By making these two payments in this manner, you have slowed down our computer.
Me: Are you kidding me? Two payments slowed down your system? What are you running a 286 you bought in a garage sale for 5 bucks?
CSR: And I thank you for that Mr. BBBBB. By slowing down the system in this manner you have delayed the processing of your funds. Capital One cannot know if the funds will be honored from your bank or if the payment will even be recalled by the bank, and thus for your protection we are forced to delay the full credit until a certain period of time has passed. This is for your protection ans safety so that you are assured that everything in your account is correct and there are no safety concerns.
Me: Yes yes I get you care more about my "safety" than the government these days I'm so touched by your deep concern. But I still don't see why the available credit has not adjusted at the same time as the balance does, after all if you are saying I don't owe anything and the payment has cleared, logically speaking shouldn't the available credit be 500 dollars?
CSR: Mr BBBBB this is an excellent point and I thank you for this and appreciate your allowing me to answer your questions. At Capital One we are committed to your safety and security at all times with your account. In answer to your question, as stated Capital One cannot know the rules and policies of the bank you are making payment from or if the payment will be recalled. For your protection and that of your account, we reduce the available balance until we are certain that the amount will be paid, as although the amount has cleared your bank it could be taken back, and we are working to proect your security in this way.
Me: How does this protect me in any way? My payments cleared and once this happens they can't be recalled you know that, thus my available credit should be adjusted to reflect this. How is this "protecting" me from anything?
CSR: Sir I am happy to explain to you that if the payment were not to clear that you could then be charged over the limit fees and insufficient funds fees to your account due to these things and thus Capital One is committed to protecting you from this by ensuring that your available funds do not reset so quickly that this could occur. Now Sir if you feel that the funds have cleared your account but the process is an inconvenience to you in protecting you, you may call the customer service and we will adjust the available funds back for you at any time.
Me: Wait a minute, this is supposed to be less of an inconvenience, I have to call you every time I make a payment so I can use my card again????? How does that make sense?
CSR: I sincerely thank you for your business Mr. BBBBB as it is very much appreciated by Capital One. Perhaps one solution is that someday you may receive a credit line increase on your account. As you may know, periodically Capital One reviews all accounts to see if they are eligible for a credit line increase, and if you are eligible you will receive the new credit line and this will allow you more flexibiblity in using your account. We are currently not accepting customer initiated requests for credit line increases I'm sorry to inform you but if you log in over the next 10 years there is a very remote possibility that this may occur which would solve the problem.
Me: (beating head on table) Must (bonk) stop (bonk) now (bonk) before (bonk) my (bonk) head (bonk) explodes (bonk).....
CSR: Mr. BBBBB I thank you for calling Capital One a very conservative lender we appreciate your business. Have a wonderful day.
Me: I'm going to go hang myself in my closet.....thanks Peggy have a good one!

bernhardtra
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Hilarious

Postby bernhardtra » Tue Jul 17, 2012 7:48 am

I must say that is the best humor I could have had today when reading anything about Capone. (Make sure you pronounce that right!) ;)

I got a CLI from Capone today. I got a raise from $300 to $500. I think this is kinda funny as now I have to figure it out. It is a Household Bank Capital One Card from HSBC. (It actually is one of their better cards. No annual fee, rewards, no international transaction fees, basically a good rewards card. I have earned 3800 rewards points so far. I haven't actually used it that much either. (I did have 2 other cards with them, read my story from earlier in the thread.)

I called today and asked Household/Capone if I could have a CLI. They asked how much did I want. I said I wanted a limit of $3,000. (The account is 9 months old and the new card I have with WFNNB-Marathon Visa is $2,500.) I thought if maybe I asked for a high limit, they would pull either a soft or hard pull to my credit and see the new card and give something in between it. Nope, $200.

Now my questions are.... Is this the normal $200 that all Capone cardholders get and they have simply merged that in with HSBC policies? Is this the first step in building the limit with them? If so, will my account now get regular increases or do I have to request them? Can I get both? Is this because their systems are merged and they know I closed the one Capone card? Is my account not classified as a subprime card? (They told me it was near prime, now how does Capone deal with near prime? Aren't they used to just dealing with subprime and prime?

Anyway, if I remember I will add more info or answers if I get them and remember.

BTW, with the new card my score jumped 20 points.
EX 686 TU 690

Cap One $500 6/10 closed no CLI 7/12
Cap One $2000 9/10
Household $500 9/11
Merrick Bank $2800 10/07
Marathon $900 10/11
Bealls $950 10/11
Marathon Visa $2500 6/12 Yeah finally a good limit card!
Barclays Rewards MC $1500 8/12
Belks $800 8/12
Walmart $1000 8/12

bernhardtra
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Location: Jacksonville

Postby bernhardtra » Tue Jul 17, 2012 7:50 am

lucasoil4u wrote:I think it is almost impossible to get a CLI with them. I have had success with discover and with citi and amex but never with Capital one. My fico score is 787 and no late payments or anything. They wont budge an inch. Good luck to you. Oh and it seems like everytime I talk to someone over there they get dumber and dumber.


Were you originally a subprime cardholder? They do seem to classify in a black and white fashion.
EX 686 TU 690

Cap One $500 6/10 closed no CLI 7/12
Cap One $2000 9/10
Household $500 9/11
Merrick Bank $2800 10/07
Marathon $900 10/11
Bealls $950 10/11
Marathon Visa $2500 6/12 Yeah finally a good limit card!
Barclays Rewards MC $1500 8/12
Belks $800 8/12
Walmart $1000 8/12

Ratfacedudeguy
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Postby Ratfacedudeguy » Tue Jul 17, 2012 1:52 pm

Got another one for you guys. This is an actual transcript of my chat session this morning. Only the names and certain identifying factors have been changed in order to protect the identities of the innocent, or otherwise mentally inept.

-Hi and welcome to our Crapital One chat service! One of our Account Specialists will be right with you. Your chat may be monitored and recorded.
-You are now chatting with Crapital One
Crapital One: Thank you for visiting Crapital One. I'd be happy to help you with your account questions. Whom do I have the pleasure of chatting with today?
you: Hi Crapital One, this is ratfacedudeguy. How are you today?
Crapital One: Doing great!
Crapital One: Thank you for asking.
Crapital One: How are you doing today?
you: Very good thank you. I've been receiving notices of balance transfer offers from Crapital One recently, and I've definitely been entertaining the idea of utilizing the offer. However, my credit limit is rather restrictive in comparison with my other cards which have limits upwards of $7000. I was wondering if maybe we can look into increasing my credit limit so that I could more easily utilize the balance transfer offer given to me.
Crapital One: Just to clarify, are you looking for credit limit increase?
you: Yes.
Crapital One: Thank you.
Crapital One: I can certainly understand your desire to increase your credit limit when your credit limit is not set to accommodate your needs and would be happy to assist you with this today.
Crapital One: Please keep in mind that this is not a guarantee of the increase, but I am more than happy to see if we are able to increase it for you today.
you: Sure.
Crapital One: Thank you.
Crapital One: In order to access your account: name (exactly as it appears on your credit card), zip code, date of birth and last four digits of your Social Security Number. (A little excessive don't you think?)
you: ratfacedudeguy, 55555, 1/1/01, 9999
Crapital One: Thank you.
Crapital One: To ensure I have the correct account can you please provide me with the last four digits of your Crapital One account number?
you: 0000
Crapital One: Thank you. Please bear with me a moment while I review your account information.
you: Ok then.
Crapital One: Thank you.
(I then wait for about 2 minutes and then the following messages pop up super quick one after the other)
Crapital One: I have submitted your request but your account is not eligible for a customer-initiated increase. The increase cannot be approved at this time.
Crapital One: You will receive a letter confirming this decision with the specific reason for this determination within 7-10 business days. Please continue to watch your statements to see if you are granted an approval through our reviews.
Crapital One: At unspecified times throughout the year, we review accounts to ensure the best credit lines are given. If you are granted an increase during this review, you will see the increase listed on your statement.
Crapital One: However, only for you I have gone ahead and placed a note to consider this account for credit limit increase at the time of review.
you: Is this type of account specifically prohibited from the credit limit exceeding a certain amount?
you: In other words, will I ever be able to increase my credit limit to something less restricting?
Crapital One: Crapital One believes in safeguarding our customer's privacy. The reasons indicated in your letter are systematically generated and are not visible to any person. I apologize about the inconvenience this may cause you.
you: While I appreciate your concern for your customers' privacy, that really didn't answer my question.
you: Will I ever actually be able to increase the limit on this specific account?
Crapital One: Various factors, including keeping your account in good standing, are taken into account during this review.
Crapital One: Crapital One has always been a conservative lender. Keep in mind that Crapital One reviews accounts from time to time for credit limit increases and you will be notified in your statement if you are granted an increase through that process.
Crapital One: However, only for you I have gone ahead and placed a note to consider this account for credit limit increase at the time of review.
you: So it's pretty much a lost cause...
Crapital One: Is there anything else I can help you with today?
you: Not at all sir. I believe I have been given everything I need to know.
Amex Green - NPSL - 05/12
Amex Zync - NPSL - 06/12
Discover it - $7750 - 11/12
Chase Sapphire Preferred Visa Signature - $5000 - 11/12
SECU Platinum Visa - $5000 - 08/08
Bank of America Cash Rewards Platinum Plus Visa - $3000 - 06/08
Citi Diamond Preferred Mastercard - $3000 - 05/12
GECRB Old Navy Visa - $2500 - 11/12
Chase Amazon Visa - $2000 - 11/12
Chase Freedom Visa - $2000 - 07/12
Citi Thank You Visa - $1000 - 06/12
Amex Blue Cash Everyday - $1000 - 01/13

MemberSince99
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Postby MemberSince99 » Tue Jul 17, 2012 3:29 pm

HAHAHA dude that's even funnier because it's true! Notice they repeat the same nonsense constantly about being so worried about your security, and they dance around any questions you have without really answering them? He COULD come right out and say dude you have about roughly the chance of finding a snowball in hell of getting a decent credit limit with this card someday, but that kind of honesty only turns the customers off, much better to read nonsense off a script until you give up in utter frustration! I haven't heard the "only for you" line before I'll have to try that with my significant other!

The only concern I have, only for you, is that as a result of this I wonder if they did 3 hard pulls to give you the absolutely inevitable turn down. That would REALLY suck. You can't trust their word on that so I would check. Only for you, would I give you this piece of conservative advice in the hope it will safeguard your account information.

Ratfacedudeguy
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Location: Baltimore

Postby Ratfacedudeguy » Tue Jul 17, 2012 4:37 pm

Hahaha I couldn't help but chuckle to myself the whole time because it so closely matched your "scenarios." I like how the "only for you" sentence is repeated verbatim at the end. Good stuff. They try and paint themselves up as all concerned for the customer, your best interests in mind, yada yada, so they swore up and down on me the last time I requested a CLI they would not put a hard pull on my reports. And they haven't so far so they at least have that going for them. I'll be checking for sure, though I just used up my last 3-bureau report for this month earlier today.
Amex Green - NPSL - 05/12
Amex Zync - NPSL - 06/12
Discover it - $7750 - 11/12
Chase Sapphire Preferred Visa Signature - $5000 - 11/12
SECU Platinum Visa - $5000 - 08/08
Bank of America Cash Rewards Platinum Plus Visa - $3000 - 06/08
Citi Diamond Preferred Mastercard - $3000 - 05/12
GECRB Old Navy Visa - $2500 - 11/12
Chase Amazon Visa - $2000 - 11/12
Chase Freedom Visa - $2000 - 07/12
Citi Thank You Visa - $1000 - 06/12
Amex Blue Cash Everyday - $1000 - 01/13



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