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Cap 1: No CLI Letter. Anyone?


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My last phone call with Capital 1 after their promo last month ended with them telling me that a letter was going to be sent out to me explaining why I could not receive a CLI. I've been patiently awaiting this letter and yesterday it arrived..

And I quote...

Dear Lovebug5,

Thanks for contacting us to increase the credit limit on your Capital One account. Unfortunately, we can't fulfill your request for the following reason:

- We don't currently grant credit limit increases by request on your product. Please note that this has nothing to do with your credit status or account activity.

Although we can't fulfill your request right now, we periodically review accounts and, for those who qualify, we increase their credit limits. If we increase your credit limit in the future, we'll notify you in a separate letter.

So little did I know that a) I signed myself up for a Cap1 account where I couldn't ask for my own CLI's and B) the reps who I had spoken with apparently weren't full of poop.

Has anyone else encountered this with Capital One?

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I have herd on some accounts depending on how your credit is they will do this for 6 months to a year. Once you hit, that point that you are worthy they will accept request's from you.

Basically your account is red flagged for the moment due to something they don't like in your credit history.

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Though that letter is entirely consistent with with my understanding of the 300 goes to 500 card. I think maybe you should apply for another cap1 card at some point in the future, then combine or close this one... I don't remember if they do that or not.

I agree. I don't think you're ever gonna get a CLI on that product.

The above might work. Although, you would lose the history on the old card if you did that, so there's not much point... Rather than trying to do the above, you may as well:

1. apply for a new card

2. close the old card

Alternatively, you might want to inquire about AT (Account Transfer) this product to another Cap 1 product and concurrently CLI, thereby keeping the history of that old account, and getting the CLI... Chances are, though, if they won't CLI the strategy you're on, that they're also not going to AT...

Bottom line: you're most likely looking at applying for a new card, which begs the question: "Why Capital One?!" I've never heard of them being easy to work with...

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I had a feeling that I was going to be in this situation with them. Ugh! Because Capital One pulls all three CR's and I'm not a huge fan of that, I most likely won't apply for another card...I'll keep this one and just forget about ever getting a CLI on it. I have no issues with them other than this one, so $1,500 doesn't bother me too much.

Maybe I'll pull a Fizzle and write them a letter. LOL.

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LoveBug5,

Call CapitalOne's "back doo" number. This number will directly with an account supervisor. The number is 1-800-889-9939. I have gotten already in the last month $800 in CLI. Good Luck.

Thanks for the info, Darth! I will try to give them a call. :)

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So I called...And, just as I suspected. :)

This "product" is only eligible for the initial obligatory 3 month CLI. After that, your next CLI is at the 1-year mark. It was explained to me that Cap1 gives this "product" to people who have had a past defaulted account with Cap1 (mine was ten years ago, BTW) to ensure that they'll remain responsible with their credit (on-time payments, not going over the CL, responsible utilization). She told me that my BK factored into the type of "product" that I received, as I received my Cap1 card not long after my CH7 discharge. I explained to her that my FICO scores have significantly increased since being approved (FICO's were between 530-555 when I applied and are now 651-671), I have received lower APR and higher CL prime cards since, etc. So after chatting for awhile, she said this to me:

"What you need to do is use your card, pay it on time and never go over your credit limit. At your one year mark your account will be reviewed and you will most likely be graduated to one of our premier cards with a higher CL provided that your FICO scores are at minimum what they're at right now. Even with the BK on your file, if your FICO scores raise up to the 700's by the time of your 1-year review and the account is reviewed where they note the drastic improvement, you will more than likely see your CL drastically increase.

Oh well. I have to wait 1 year - not so shabby. Even if she was full of doodie, the 1 year of positive payment history will be good for my scores. So this card...Well, no worries about the CLI's anymore.

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So I called...And, just as I suspected. :)

This "product" is only eligible for the initial obligatory 3 month CLI. After that, your next CLI is at the 1-year mark. It was explained to me that Cap1 gives this "product" to people who have had a past defaulted account with Cap1 (mine was ten years ago, BTW) to ensure that they'll remain responsible with their credit (on-time payments, not going over the CL, responsible utilization).

Okay so I though you and had the same product but I guess we don't because I've never burned Cap. 1. How many different "products" does Cap 1offer? :<img src=:'> I've only gotten one CLI since opening in May 2007 so maybe I'll get one soon. I'll def let ya'll know if and when I do. :)

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Anyone know what they mean by "product"? I got a Cap1 Platinum Prestige card with a $1000 limit a little over 6 months ago but I can't request a CLI either. On the bright side my APR has gone down from the initial 7.9% to 4.9% on my most recent statement.

Most of there cards carry different "terms", although in the T&C that you receive it doesn't necessarily state it all obviously...My APR dropped 2 points, although it's not as low as yours - I went from a 16.90% to a 14.90%.

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