Capital One Complaint - Capital One Conservative Credit Limit Increases and Non-Existent Credit Line Increases.
MCLEAN, VIRGINIA -- I called Capital One to obtain a credit line increase on my Visa Platinum Card and Capital One would not grant the request. A friend of mine had attempted to get a credit line increase on his Capital One Visa because he travels for business and Capital One denied the request. He informed me so I called Capital One to see if they would increase my limit and they did not. I asked to speak with a manager to find out why Capital One could not increase my limit in consideration for my 10 years of patronage, on time payments and the fact I have not had a credit limit increase within the last 5 years.
Here is what Capital One said.
"You have an excellent history with us and have always paid on time. The decision is not based on information contained in your credit report. Capital One is very conservative with their credit limits and credit limit increases and Capital One has placed a freeze on any credit limit increases. When Capital One lifts the freeze, you will definitely be considered for a limit increase and they will send you a letter in the mail if they increase your limit. I'm sorry I can't help you at this time with a credit limit increase but I can offer you a 0% balance transfer offer." I declined the balance transfer. The purpose of the call was to get my limit increased and see what Capital One would tell me. I have read posts elsewhere where Capital One accountholders have been denied credit line increases even though they have perfect credit. I wanted to find the underlying cause of Capital One's credit limit policy so I can inform everyone as to why Capital One will/does not increase credit limits.
Any other Capital One accountholders had this same experience and/or been told what Capital One told me?
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