Capital One Reconsidered... Sort of!

[Poquelin]

So last July I applied for a Capital Quicksilver One card online. I received instant approval for $3,000. I've never had a rewards card before and I fell in love with this one and stopped using all the others which don't pay any rewards. Problem was, $3,000 was not sufficient credit line for all my credit card charging needs. So I found myself making payments every 2 to 3 days on the average to keep making room for more charges. I read on Capital One's website that after 6 months you can request a credit line increase. So I was patiently waiting for the 6 months to be up so I could request a $2,000 CLI for a total of $5,000. 

Problem was that about a week before the 6 months were up, I received notification from Capital One that they had automatically increased my credit limit by $500 to $3,500. That wasn't really going to solve my problem so I applied online for a credit increase and it was denied because they said they had just given me one. I was frustrated and I let it go for about a month. Finally last Wednesday, when I went online to make my second payment for the month of March,  I decided to call Capiatl One and explain my situation. The lady I spoke to was very robotic and unemotional, she asked me the same questions I answered when I applied for the CLI online a month before and she told me I would get an answer in 7-10 days. I really didn't get a good feeling from the conversation.

To my surprise, 2 days later. Yesterday to be exact, when I went to make my 3rd payment for this month,  I noticed that my credit limit was increased to $5,000.

I'm very happy about this because now I have a little breathing room with this card that has paid me over $500 in rewards since I opened it 7 months ago.

[Anonymous]

Congrats on the increase

[happypill]

If you have any travel at all, you should go ahead and apply for the Venture.  I believe the minimum CL is $5k, you get 2 points per $ spent, that can be redeemed as statement credits against any travel you charge to the card.  Better rewards than the Quicksilver, higher limit and pretty likely you'll be approved because I believe Capital One rewards heavy users of their cards.

[Poquelin]

Interesting! I might apply, if I do I'll update you with the results.

thanks for the information.

[Anomalous]

Congratulations!

[Poquelin]

Okay, so I went to the Capital One website and did the Pre-qualification thing. It came back with me being Pre-Qualified for the Quicksilver, Venture and one other. I applied not for the Venture like you recommended, but for the Quicksilver and I got the 7-10 Day letter response.

i guess the increased CL on the Quicksilver One on Friday and m app to Wells Fargo's Buiness card also on Friday ( will get an answer by Tuesday I was told, but Wells Fargo had already pulled my Credit on Friday ) and my approval for the Sparks Classi on Saturday morning finally caught up with me. I guess it's time to lay low again for nother 7 to 10 months before trying again.

thanks for the info though. If by some miracle I get notified in 7-10" days that I got approved, I'll post the update here.

thanks.

[Anonymous]

Since you took 3 HPs for that app you should consider calling tomorrow for a recon. It can't hurt.

[Poquelin]

Good idea. I will do that? Like you say, it can't hurt.

thanks.

[gdale6]

Thats the way to do it OP, grats on the CLIs

[Anonymous]

Congratulations!