"NO CLI In 4 Yrs"

Capital One® Business Platinum Review
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Written by: mel2329 on 2010-01-10

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mel2329's review: Callout Comment I have this card for 4 yrs, never have a single CLI, stuck @ the initial $500, paid on time in full (using it once a month just so it can show some activity). I never request a CLI cause I always receive auto increases from my perso CC.

Does anyone knows how Cap1 business CC works or do I have to call for a CLI.

Have 4 other cards from diff banks with lines close to 9G on each

FICO as of 01/2010 is upper 700s.


Comment 1 by wanderer
Re: NO CLI In 4 Yrs User Icon on 2010-01-10

Remarks Mel - had two Capital One Business Platinum Credit Cards. One plain version and one with rewards. Had them since 1991. Managed to get the credit lines up to $10,600 and the other one to $6,000. Then Cap One kept changing the terms and conditions. Finally, they said we are going to report the cards to the three consumer credit bureaus and raise your interest rates to 17.9% purchase and 24.9% cash. Had a spotless record with them (they agreed). I said enough... Out of the blue my available credit will jump $16,600 in new credit at the high rates. Nuts... Or is it GADS!!! Closed both accounts and paid them in full before they went to the consumer bureaus so it would show "Closed at consumer's request" and it worked. I am NOT a Capital One fan. But lots of folks have had good luck with them. Hey, I started my business credit lines at $200 so hey hey hey... You be the judge. Did what I had to for me!
Comment 2 by mel2329
Re: NO CLI In 4 Yrs User Icon on 2010-01-10

Remarks Yeah Cap1 small business credit is now reported to all three consumer bureau, that's crazy and you are right the APR way too high. I will call them sometime next week to discuss CLI and APR decrease.

Will keep everybody posted :)
Comment 3 by colonative
Re: NO CLI In 4 Yrs User Icon on 2010-01-11

Remarks You say you used it once a month... How much? Most credit card companies like to see a pretty decent level of usage before they give a CLI.
Comment 4 by credit28
Re: NO CLI In 4 Yrs User Icon on 2010-01-20

Remarks Mel2329-

I am also in the same predicament. I have had this card for over 2 years will be 3 in August. I got 1 $200 increase, since then I've been denied all requests. I plan to close account once it reaches 3 years. Better to close now than later allowing it to age even more. It's simply a card that doesn't grow with you.

Who are your other creditors with 9k limits? Thanks.
Comment 5 by mel2329
Re: NO CLI In 4 Yrs User Icon on 2010-01-21

Remarks Its one of my oldest cards, call for a CLI, no go, instead they auto CLI my Platinum to 4500 (from 500) months ago without me asking.

Other cards :

Citi forward 8500

Citi ATT Business 9500

Discover Business 8100

Chase Freedom 8000
Comment 6 by ashes
Re: NO CLI In 4 Yrs User Icon on 2010-01-22

Remarks Capital One is stingy like that. I don't know what their policy is. 5 years ago, I applied for the card and got a $800 credit line. A year later they gave me a $1500 CLI and then I coaxed them into giving me another $4k CLI to have my limit to $6.3k. That was in good times.

Now my brother got this card in college as a freshman 9 years ago. He got a $500 credit limit and today it is sitting at $500. No CLIs in 9 years! His credit is spotless with FICO scores of about 800. Yet, they wouldn't give him a CLI so he has put this in the sock drawer. If this card is old, keep it and don't use it but once a year to keep it alive.
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