capital one denied my credit increase request?! wth

[cchen]

i've had my capital one visa for more than a year already, never missed a payment, etc etc, it has a limit of 999

i requested a credit increase today and was rejected

anyone know why that would happen?

i also have 2 citibank cards with limits of 500 each on them, no other credit

 

[StageLeft]

It happened because capital one is a worthless god-hating piece of sh*t.

 

[RichieZ]

Capital One sucks, I have a FICO score of 691 and my limit is $1500. I've been with them forI think a little more than 3 years, credit line started at 1000, then upped to 1500 when I turned 18. I have never missed a payment

 

[RossMAN]

You will receive a decline letter via snail mail which entitles you to a FREE COPY OF YOUR CREDIT REPORT, get it.

Capital One is suck, period.

 

[DeafeningSilence]

Looks like I'm not the only one who thinks...

Capital One sux.

 

[StageLeft]

When I had no credit in July of 2001, but an income of $46k and a verifiable social security number CO wouldn't give me a PREPAID credit card with a limit of $200. Like seriously WTF? And now that my score is 700+ and I already have a card with a limit of $4k through mbna CO keeps sending me platinum card offers with a pathetic limit of $1k. Fudge capital one!!

 

[Pepsei]

Get a citi card... last time I check, I have 7500 limit....

 

[Kaervak]

They declined me when I had their card as well. Closed the account afterwards. Worthless credit card in my opinion.

 

[CraigRT]

Originally posted by: Skoorb
It happened because capital one is a worthless god-hating piece of sh*t.

haha
yeah that'd do it
i get increases all the time, don't even ask for them. if i asked, i am sure it would happen, easily.
(Visa)

 

[cchen]

Originally posted by: Pepsei
Get a citi card... last time I check, I have 7500 limit....

i already have 2 citi cards... did you read what i wrote? plus i'm a student so getting regular credit cards is kinda difficult

yea i guess they do suck.... i'm almost 19, been with them for so long, and all iget is bs with them, not to mention a horrendous apr (19.9)

i'm glad i don't leave a high balance on there...

 

[StageLeft]

Originally posted by: Yield

Originally posted by: Skoorb
It happened because capital one is a worthless god-hating piece of sh*t.

haha
yeah that'd do it
i get increases all the time, don't even ask for them. if i asked, i am sure it would happen, easily.
(Visa)

Is that with capital one? Funnily I've had a visa card with royal bank for about 5 years, never missed a single payment or late and used it for a lot of purchases. Started with $500 CAN and is now $4k, but they've never ever raised the limit without my having to ask for it. Always approved, but they never take any initiative!

 

[notfred]

Amex approved mine, and I only asked for it cause there was a button on thier website that let me, so I thought I'd give it a shot... $9200 limit now.

 

[RossMAN]

Here is how much Capital One sucks.

Every major cc offers me $10,000 credit cards routinely.

Capital One offers me a whopping $500.

 

[wyvrn]

 

[Cerebus451]

Originally posted by: cchen

Originally posted by: Pepsei
Get a citi card... last time I check, I have 7500 limit....

i already have 2 citi cards... did you read what i wrote? plus i'm a student so getting regular credit cards is kinda difficult

yea i guess they do suck.... i'm almost 19, been with them for so long, and all iget is bs with them, not to mention a horrendous apr (19.9)

i'm glad i don't leave a high balance on there...

While I would recommend you do what RossMAN said and turn the denial of credit letter into a free credit report, but I doubt you will find anything there. I don't find it that surprising that any credit card company would deny a credit increase to a 18 year old student that already has 3 credit cards.

 

[vi edit]

My GM Card has been pretty damn stingy too. I've had my card for going on 3 years now. I've got a FICO credit rating of nearly 760 and in the three years I've gone from $1500 to $2500, and that's only because I called and begged for an increase. I still need another $2500 to be useful, but I'm sure it'll take another 5 years to get that. :frown:

 

[StageLeft]

Originally posted by: vi_edit
My GM Card has been pretty damn stingy too. I've had my card for going on 3 years now. I've got a FICO credit rating of nearly 760 and in the three years I've gone from $1500 to $2500, and that's only because I called and begged for an increase. I still need another $2500 to be useful, but I'm sure it'll take another 5 years to get that. :frown:

Go MBNA, they've raised me $500 every few months up from my $2500 starting point to $4300 now 14 months later

 

[RossMAN]

Originally posted by: vi_edit
My GM Card has been pretty damn stingy too. I've had my card for going on 3 years now. I've got a FICO credit rating of nearly 760 and in the three years I've gone from $1500 to $2500, and that's only because I called and begged for an increase. I still need another $2500 to be useful, but I'm sure it'll take another 5 years to get that. :frown:

With a FICO of 760 your limit should have been $5k a year ago!

Heck I even have a CitiBank cc with a $5k limit and my FICO is almost 100 lower than yours and I probably make less money than you but have more debt (not including mortgage).

I swear I am single handedly supporting the U.S. economy!

 

[Placer14]

I don't understand credit card companies. I want to consolidate my debt but I'm almost afriad to apply because every time I do it counts as a hit against my FICO score. I'm making over 22k a year and putting almost 60% of that income toward debt. I'd think ANY CC company would love to hold over 3k of debt and collect interest on it. But I dunno.

What CC companies do you think I should go for? Citibank offered me their Platinum Select Pre-Approved card with 0% APR on transfers until 4/1/04. I just don't know. I'm afriad to just send off for 3-5 CCs cause the more you do, the more it hurts your score.

 

[LeStEr]

Whats in your wallet?

 

[Kaervak]

Originally posted by: vi_edit
My GM Card has been pretty damn stingy too. I've had my card for going on 3 years now. I've got a FICO credit rating of nearly 760 and in the three years I've gone from $1500 to $2500, and that's only because I called and begged for an increase. I still need another $2500 to be useful, but I'm sure it'll take another 5 years to get that. :frown:

I've got the same thing going on with my GM card. My FICO score is 723 and they won't up my limit at all. I've had the card for three years and have done a ton of charging on the card, but have never carried a balance. Another $1000 would be nice on the card.

 

[CPA]

Originally posted by: Skoorb

Originally posted by: vi_edit
My GM Card has been pretty damn stingy too. I've had my card for going on 3 years now. I've got a FICO credit rating of nearly 760 and in the three years I've gone from $1500 to $2500, and that's only because I called and begged for an increase. I still need another $2500 to be useful, but I'm sure it'll take another 5 years to get that. :frown:

Go MBNA, they've raised me $500 every few months up from my $2500 starting point to $4300 now 14 months later

My MBNA started at like 7K a few years ago, it is now 24K! :Q And the APR is 8.9%. I give them plenty of business, though.

 

[CPA]

GM probably is stingy on credit line increased because of the 5% gm points you earn towards the purchase of a new vehicle.

 

[RossMAN]

[flame bait]

If only GM made Honda/Toyota caliber vehicles then I'd sign up for their cc, otherwise I'd rather stoop to a CitiBank Sony cc before getting a GM cc.

[/flame bait]

 

[KK]

Originally posted by: wyvrn
Capital One usually works the lower end of the market. They offer credit cards with low balances and high fees to people with credit problems. They make a lot of money because they know a large percentage of these people will repeat their credit mistakes, allowing Capital One to charge fees here and there and significantly increase their yearly yield without raising interest rates. The percentage of people that go onto cleaning up their credit and expecting the benefits that most other credit companies issue will be disappointed, because that is not Capital One's game. My suggestion is to just cancel your account (make sure to get that in writing) and look for another issuer (not neccessarily in that order).

Are you calling me the lower end? I have capital one platinum visa. Wife liked the picture on the card, Van Gogh's Starry night. Anyways, I was going to cancel it last september, it had a 9.9 fixed APR. They offered me 8.9 APR when I called them, so I kept it. I was either going to keep the AMEX Blue or this card. Blue wouldn't offer me anything good so I went with Capital One. I haven't had any trouble with them, but I'll probably get rid of them come summer. No need to have it, as I'll be looking for a 0% balance transfer for atleast a year when my current 0% balance transfer ends.

KK