Advice For Better CL

[EaglesFan2006]

I just got my third CC (2nd with Capital One) and was disappointed with the $500 CL.  I got the other two cards (C1, Orchard) a year ago...both were $500 cards.  Since that time I've had no issues with credit.  My negative items involve collection accounts that are several years old.  Today, I found out I was able to delete 3 of those 4 collection accounts from my reports, which I will have to make sure was done later this month.  I imagine that will give me a major boost...would I be wrong?  The only other issue is that my student loan balances are high, though they aren't delinquent or anything like that.  My 1 CC had zero balance at the time of reporting, the other had a balance of about  $300 (though I paid that off, but it didn't show on the credit report)

 So what other steps should I take?  I want a CC with a decent limit.  I'm going to wait at least six months to apply for another card, but should I wait longer?  I can't really understand the limit.  I know someone whose credit score is 50-75 points lower than mine on all three reports yet got approved for $1,000...income is pretty comparable too. 

Just trying to get all the information I can get...trying to do good long term here, and I know a high limit card with no balance will be great for my credit profile.  Any advice on what to do is appreciated.

[Chaos122]

What's your credit score?    Also just keep doing what your doing and eventually youll get a high limit card.. Its not just about your score, you probably have a really thin credit file, which is making lenders reluctant to grant you a higher limit.  The guy you saw with a lower credit score might have a 20 year history with a few recent baddies, as opposed to your short hostory with a few recent baddies.

Keep making payments on time and keeping your balances low or paying in full, dont open any more credit cards for a year and you should be in better shape.  Good luck

[Anonymous]

@Eaglesfan2006,

I think CAP1 sucks since my wife has that card from beginning of 2005 and hasn't had any CLI since than. We have requested it few times in past 5 years but were only able to icrease it by $250 to $750. Since that is the first CC she had we are planning to keep it open as long as we can but i dont understand why they cant gv her CLI since she DOES NOT HAVE A SINGLE LATE PAYMENT IN HER CREDIT HISTORY. We regularly check CR to keep an eye on any worng things. She has BoA which started with $1000 and reached to $5000 in two years. Also she has 4 year old auto loan in good standing on her report.

I would definately not recommend CAP One to anyone.  I see on this forum some people recieving CL in 4 figures with CO, I think either they are l;lucky or we are unlucky.

Just keep what you are doing and eventually you will reach there

[Videoguy]

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@Anonymous wrote:

@EaglesFan2006,

I think CAP1 sucks since my wife has that card from beginning of 2005 and hasn't had any CLI since than. We have requested it few times in past 5 years but were only able to icrease it by $250 to $750. Since that is the first CC she had we are planning to keep it open as long as we can but i dont understand why they cant gv her CLI since she DOES NOT HAVE A SINGLE LATE PAYMENT IN HER CREDIT HISTORY. We regularly check CR to keep an eye on any worng things. She has BoA which started with $1000 and reached to $5000 in two years. Also she has 4 year old auto loan in good standing on her report.

I would definately not recommend CAP One to anyone.  I see on this forum some people recieving CL in 4 figures with CO, I think either they are l;lucky or we are unlucky.

Just keep what you are doing and eventually you will reach there

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It is really not about luck. I have CAP1 Visa from 1999 with CL $2,000. No CLI in last 10 years. The only reason, I’m keeping this CC is 12 years of good credit report

on this card and I’m paying it in full every month.

Couple years ago, I had phone conversation with them about CLI and this is, what I find out:  Apparently, they have some kind of internal scale and are issuing different TYPES of CC accordingly. My credit in 1999 was not so great and this was the only card I’d qualify for at that time.  However, CAP1 will NOT change CC with low CL into high CL regardless of better CR. They offered me to apply for another CC and with my (now) excellent credit score; they would approve me for much higher CL with possibility of CLI in the future.  But they will not change (or exchange) this old CC for any other.

[Anonymous]

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It is really not about luck. I have CAP1 Visa from 1999 with CL $2,000. No CLI in last 10 years. The only reason, I’m keeping this CC is 12 years of good credit report

on this card and I’m paying it in full every month.

Couple years ago, I had phone conversation with them about CLI and this is, what I find out:  Apparently, they have some kind of internal scale and are issuing different TYPES of CC accordingly. My credit in 1999 was not so great and this was the only card I’d qualify for at that time.  However, CAP1 will NOT change CC with low CL into high CL regardless of better CR. They offered me to apply for another CC and with my (now) excellent credit score; they would approve me for much higher CL with possibility of CLI in the future.  But they will not change (or exchange) this old CC for any other.

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Thanks

[Videoguy]

They offered me to apply for another CC and with my (now) excellent credit score; they would approve me for much higher CL with possibility of CLI in the future. But they will not change (or exchange) this old CC for any other.

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Update: I'd apply for Capital One Venture Card, received $20,000 line of credit in 45 sec.

(My first card is still $2,000 only)