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 18, 2012 6:28 am

You did know of course before you called what the result would be right? I would have bet good money on you getting the result you did!

The funny thing is, you can ask one of these guys a question other than about CLI, and get one answer and call back the next day and get exactly the opposite answer from someone else. I've had that happen. Sometimes I think they just make it up as they go when it's not on the script they are reading from. They must use the "Magic 8 Ball" method of customer "service".

And I swear man, when they launch into their 5 minute long monologues that don't answer your question and are filled with crap about how much they care about your security, it's just designed to wear you down so you give up in frustration. Crap One - we put the "vice" in service!


MemberSince99
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Postby MemberSince99 » Wed Jul 18, 2012 6:31 am

By the way you've had that Mastercard with them for almost 4 years and it's probably been at 750 for 3 1/2 years right? I bet you got the one bump at 6 months to 750, and as you know I'm sure, it could be 10 years before you ever see another CLI. Hopefully you aren't paying them an AF for that, I'd sock drawer that thing and only buy a pack of gum or something every few months and pay before it reports just to keep the AAoA up, but you have WAY better now.

Ratfacedudeguy
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Postby Ratfacedudeguy » Wed Jul 18, 2012 9:10 am

Oh yeah, I knew good and well what the answer was going to be. I just figured I'd give the ol' trusty balance transfer technique a try, even though I have absolutely no interest in putting any kind of balance shape or form on that card. It's funny, when I first got the card, it had a bunch of stuff in there about how they start you off at $500 but then they give you an automatic CLI every 3 months until it reaches $1500. I have no idea where that paper is, but as you can see my auto CLIs stopped at the first, which was 3 months after the account was opened. Probably because of an unauthorized charge that I disputed and won that brought the account overlimit. No AF or it would have been long gone. Sockdrawered for life!!!
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 » Wed Jul 18, 2012 10:14 am

To be honest I don't think anything you did would have given you a CLI on that card. Cap One just doesn't believe in them. You're more likely to see Bigfoot than to get a CLI on a subprime Cap One card beyond the first one in the first 10 years. I really don't think they would have done that for you even back then. And now, well no way.

nixfan226
 
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Postby nixfan226 » Fri Jul 20, 2012 2:39 pm

Now I'm definitely a little discouraged...however quite entertained. Thank you MemberSince99 for the gut-wrenching CSR/customer scenario. I'm actually happy I saw that as well as this thread before I made my own phone call, which seems will only lead to the same "bonk".."bonk"..."bonk".."bonk"...head-banging-on-table situation.

I've had a CapitalOne Platinum MasterCard now for about 7 years. In my situation, my original CL was $500, which was gradually increased to $1000 with the last CLI coming in November 2011. The card has a 14% rate with no rewards and a $49 AF, that for the last 3 years I call and have removed. In the last year, after improving my credit, I 'confidently' applied for a few cards (including a CapOne Venture Visa to take advantage of a $200 bonus) with the hopes of increasing my overall credit line and score. Since the CapOne Platinum MasterCard has no rewards, I was hoping to be able to combine my credit line into the VV card. Sounds like its not even a shot in the dark for possibility.

I haven't used the Platinum Mastercard in about 7 months now, though I suppose I should make a few small purchases if I want to keep it open. But then again, is it even worth it if the history is still reported for 10 years and I have significant other credit lines? I'll tell you one thing, the year that I call and they don't waive the AF is when the CapOne Platinum Mastercard goes from "sockdrawed" (I like that one) to "shredded".

On a side note, I figured, 'hey, I have two CC accounts with them, why not try a bank account (again for a $200 new checking account bonus)? What a fiasco! The details are for another forum or topic, but I can confirm, the ineptitude throughout the CapOne organization is not limited to just the credit divsion. It basically comes down to this.....if you can in ANY way help it....like someone is not holding you down and pouring hot lava in your eveballs.....stay as FAR away from anything having to do with the Capital One financial institution!!

--------------------------------------------------------------------------------------------------------
[size=80]FAKO Scores
EX: 778 July 2012
EQ: 778 July 2012
TU: 760 July 2012

Amex Blue Cash - $2000 — 02/12
Capital One Venture Visa - $7500 — 01/12
Citi Dividend Platinum Select Visa - $5900 — 01/12
Discover More - $9500 — 01/12
Capital One Platinum Mastercard - $1000 — 06/05
Household Bank Platinum Mastercard - $700 — 03/06
HSBC Discover (Direct Rewards) - $500 — 03/06[/size]
[size=80]FAKO Scores
EX: 778 July 2012
EQ: 778 July 2012
TU: 760 July 2012

Amex Blue Cash - $2000 — 02/12
Capital One Venture Visa - $7500 — 01/12
Citi Dividend Platinum Select Visa - $5900 — 01/12
Discover More - $9500 — 01/12
Capital One Platinum Mastercard - $1000 — 06/05
Household Bank Platinum Mastercard - $700 — 03/06
HSBC Discover (Direct Rewards) - $500 — 03/06[/size]

MemberSince99
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Postby MemberSince99 » Sat Jul 21, 2012 6:32 am

Glad you enjoyed it, in a wry kinda way!

Yes they will report for 10 years. From looking at your cards, you don't need the one with the annual fee anymore really. And you are right the odds are overwhelming they won't let you roll that CL onto say the Venture, or even PC you to a no fee card. But it would be entertaining listening to all the ways Capital One exists to keep you safe!

striker79
 
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Location: Alpharetta. GA

Here is what capone told me.

Postby striker79 » Fri Jul 27, 2012 11:23 pm

Chat InformationHi and welcome to our Capital One chat service! One of our Account Specialists will be right with you. Your chat may be monitored and recorded.

Chat InformationYou are now chatting with Thomas

Thomas: Thank you for visiting Capital One. I'd be happy to help you with your account questions. Whom do I have the pleasure of chatting with today?

you: xxxxx

Thomas: Hello xxxxx!

Thomas: How are you doing?

you: I am well thank you, and yourself?

Thomas: I'm glad to hear that! I am doing wonderful, thank you for asking!

Thomas: How may I assist you today?

you: I actually have two things. First, I have a householdbank card, and was wondering what will happen with it since capitalone took over their accounts. Can I just merge it with my current capital one account?

Thomas: Let me help you with this.

you: That would be great. Thank you!

Thomas: You're welcome.

Thomas: No, at this time your Capital One and householdbank credit card accounts will not be and cannot be combined or consolidated.

you: Is there a way to at least transfer my householdbank account information over to capital one's account page so that I do not have to go to householdbank's website to check the balance?

Thomas: Please bear with me a moment, while I check that for you.

you: ok

Thomas: Thank you.

Thomas: I appreciate your patience.

Thomas: I completely understand your concern.

Thomas: Last year, HSBC announced plans to sell most of its U.S. credit card accounts to Capital One, including accounts from Orchard Bank, Household Bank, Direct Merchants, and several other brands. The sale is now complete and we're excited to welcome our new customers to Capital One.

Thomas: We're committed to ensuring a smooth transition. If you're unsure whether your account was impacted, please call the number on the back of your card or the toll-free number on your statement.

you: Ok. I will just have to call them tomorrow then. My other question, I am not sure if you will be able to help me with or not...I have had this card for 3 years, and it was upgraded from a platinum to a cash rewards card. The only problem is that the credit limit is only $750, which isn't even enough for me to use. One purchase from me would max it out. Would it be possible to get a credit increase?

Thomas: I can certainly understand your desire to increase your credit limit when your credit limit is not set to accommodate your needs.

Thomas: Capital One periodically review your account so keeping your account in good standing may make you eligible for possible credit limit increases.

Thomas: This review occurs at unspecified times of the year.

Thomas: However, I'd be happy to submit the request for a credit limit increase for you.

you: My concern is that I have called multiple times each year, and currently have other cards with limits exceeding $7000. The automated limit increase option never approves me.

Thomas: I understand your concern.

you: Would the request pull from my credit report? I do not want an inquiry to show, as this has the potential of hurting my credit score?

Thomas: I understand your concern about your credit history. I assure you that any reviews we do to determine your eligibility for changes will not negatively impact your credit report or credit score.

Thomas: The inquiry is considered a Soft Credit Inquiry and soft inquiries are viewable by you and not potential lenders.

you: Ok. That helps. You can also see on my account that each month I use the card to pay off other credit cards in order to max out the card and pay it off immediately. I only wish your automated generator would be smart enough to see that.

Thomas: I am really sorry.

Thomas: Let me check what best I can do for you.

Thomas: 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.

you: It's not your fault. The machine is just doing what it is programmed to do, and thank you.

Thomas: You're welcome.

you: Name: xxxxxxxx x xxxxxxxxx

you: zip:xxxxx

you: dob:xx/xx/xxxx

you: social:XXX-XX-xxxx

Thomas: To ensure I have the correct account can you please provide me with the last four digits of your Capital One account number?

you: Give me one minute to get it

Thomas: No problem. Take your time.

you: xxxx

Thomas: Thank you. Please bear with me a moment while I review your account information.

Thomas: Please bear with me a moment, while I submit the request for you.

you: Thank you

Thomas: You're welcome.

Thomas: Thank you for your patience!

Thomas: I have submitted your request but your account is not eligible for a customer-initiated increase. The increase cannot be approved at this time.

Thomas: I understand that this can be upsetting. 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.

Thomas: 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.

you: That is what I get every time. Why is this?

Thomas: I certainly understand how important is the credit limit for you.

you: I'm not sure you do. If I had a higher limit, I would actually be using this card

Thomas: So I would request you to wait, and continue make the payment. Since Capital One reviewing your account undefined times, by the time of reviewing your account will surely grant for a credit limit increase.

you: I've been waiting for 3 years

Thomas: Since you have already established credit history with this account, my recommendation to you would be to continue to maintain the account in good standing and do believe that your account will be reviewed periodically and at that time when we offer a change in your credit limit we will definitely let you know through your statement.

Thomas: I completely understand.

you: Ok. I will continue to wait, and put the declination letter in the stack with the other same ones from capital one. However, I do thank you for you time.

Thomas: You're welcome.

Thomas: Is there anything else I can help you with today?

you: Not at this time

Thomas: Thank you for being a valued Capital One card holder. It’s been my pleasure to help you today and I hope you enjoy the rest of your day.

you: And you as well

MemberSince99
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Postby MemberSince99 » Mon Jul 30, 2012 8:34 am

It's gotta suck to be them. They can't give you a CLI, they can't really do a thing to help you. It's not their fault but they have to tell you no. I can't really do anything to help you but I completely understand. I wouldn't like that job much.

By the way I would have bet a LOT of money that was going to be your result but I'm sure you knew that going into the conversation.

Jooxi
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Postby Jooxi » Mon Jul 30, 2012 1:34 pm

I understand Capitol One is a bottom-tier lender. I understand they are there to help rebuild or establish credit, and as such, they won't really help with increases.

My question is, why are they throwing good customers away? Other issuers (BoFA, Citibank) give their secured cards a review after 1-2 years and graduate them into regular cards. This way, they get to cherry-pick the best customers, who they know will pay them back, to continue long and profitable relationships with them.

Why doesn't Capitol One do this? It seems to me that everyone just gets really frustrated and angry with them over their stinginess, and they lose valuable customers in the long run. In fact, I have family members who I counsel to stay away from Capitol One as they are not worth the hassle.

Does ANYONE from Capitol One read customer feedback?

Ratfacedudeguy
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Postby Ratfacedudeguy » Tue Jul 31, 2012 2:38 pm

I just closed my Crapital One account. I did it through the online chat and the CSR was obviously juggling my conversation with at least one other person's, so about 3 or 4 times I saw questions pop up on the screen that were obviously not directed towards me. No retention efforts were given, as expected, and at this point I really don't care about having cut them out of my wallet for good.
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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