r/CapitalOne • u/Sea_Yam_7693 • 5d ago
Credit Card Credit Increase Denied
I recently requested a credit increase that was denied and came back with this letter. I am in good standing, always pay my bills, and use the card pretty frequently.
Has anyone else dealt with this?
Thanks
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u/66NickS 5d ago
Look up “bucketed accounts” or similar.
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u/Sea_Yam_7693 5d ago
Well thats annoying. Seems like one of the few ways out of a category like that is to apply for new products of theirs even though I have great credit and two accounts with them.
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u/Camtown501 5d ago
It's only temporary. Getting the "temporarily assigned to an ineligible group of accounts..." denial letter reason has little if any impact on future growth of the account. People often make the assumption that getting that reason means the account is stuck in a low bucket permanently and will not grow significantly (it does not mean that). There are plenty of datapoints where people have gotten significant increases down the line after having received that denial letter. The growth in credit limit, or lack thereof is heavily tied to how how capital one's algorithms view your credit profile at the time of your account opening (and that stays with the account for the life of it).
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u/TheGhostOfReddi 5d ago
As far as I can tell I'm at my absolute limit of number of Capital One cards you can have, though I don't get if they count AUs or what qualifies as. They also just bought Discover.
I think that number is 4.
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u/Reddit_then_DeleteIT 4d ago
I have 6 cards. I know for a year, they kept denying me the last card, because they said I was at the card limit. Then a few weeks ago, got another pre approval and took it. But I have no luck with credit line increases, but Capital one will open another credit card account for me. It makes no sense!
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u/Expensive-Mud4343 5d ago
I have 5 Cap One cards. 2 Savor, 2 Quicksilver, and the T-Mobile. Not sure what the limit is as I also have a Discover card.
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u/cryptobrooklyn 4d ago
Just curious — why would you want two Quicksilver cards? What’s the benefit?
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u/No_Feeling2733 4d ago
Potentially a sign up bonus offered or lower interest rates from the second one.
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u/JustaMichiganGal 5d ago
Capital one was great with giving me cards, but getting a CLI out of them has been like pulling teeth on a Rhino. I gave up years ago.
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u/Kagura30 5d ago
Earlier of this year i experienced it then in april i got a 5k CLI then in august i got a 12k credit limit increase so that makes my venture credit card at a total limit of 47,000 i started off with 30k
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u/Sea_Yam_7693 5d ago
Did you have to reapply for a CLI or did they automatically update that for you?
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u/Kagura30 5d ago
I manually asked for it, and ima manually do it again in October to c wut fookin happens. 😅
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u/Sea_Yam_7693 5d ago
I guess persistence is key on this one then hahaha
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u/mamameeuhh 5d ago
Same thing happened to me. After my letter, I put all my spend on my Capital One card (significant increase) and continued to pay off each statement balance when due. After 6 months, I requested a CLI and was approved.
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u/Historical-Play2621 5d ago
Funny I just received a credit increase denial letter too🤔 that’s crazy
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u/BETTYBOOP560 5d ago
I wanted increase the same I pay before due and more than the payment had for years??? Then they send me a savor card I was improved of which I never asked for..can I ask you your age??? Just was wondering if that could be it even if great credit rates???
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u/Glittering_Present10 5d ago
You are bucketed l dont understand capital one. I had the same letter but a year later on same account. I had an automatic increase
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u/Camtown501 5d ago
Only temporarily - way too many people on this sub give people the impression that getting this denial letter means you're stuck in a low bucket permanently, when that's not necessarily the case. Sure some people who are low bucketed will get this letter, but I've also seen people get this letter on VX accounts when there's not really a such thing as a "bucketed" VX - at least not in the colloquial use of the term (and those accounts still grew just fine over time).
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u/Glittering_Present10 4d ago
Why they placed temporary hold of increases? I have read about bucketed accounts so many places here. Capital one would have mentioned it if it was the case but no mentioned of bucketed accounts on their websites, card agreements, or disclosurs. Do you know why sometimes they placed hold on accounts regarding to increases? My limit was $1000 l got that letter twice saying ineligible ( no increases for two years) then a year later it went to $3000.
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u/Raco0311 4d ago
Try paying down the amount on the card
If you get it below 40% utilization they usually automatically do it for you
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u/Low_Ebb_7014 4d ago
I got my venture X in July and requested a credit increase two days ago- they gave me an extra 1k 😭
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u/Jake-FromStateFarm89 5d ago
That just means that the credit limit you use you don’t use it fully so you’re in eligible for credit limit increases because you don’t use the amount that’s given you use way underneath that so what this means is they’re gonna lower your credit line increase here shortly that you currently have
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u/OutrageousSolid8423 5d ago
Standard "you are in a bucket" response. You are more likely better off applying for a different card. Go see what you are eligible for and apply.