They approved me for the $500 and my only cards reporting at the time were my wells fargo and my paypal (paypal is also by GECRB, same lender as walmart, which I got about a week earlier and hadn't used yet). I had 12 inquiries at the time of my approval, and you can usually CLI every 4 months on GE cards, plus you get the free TU08 score monthly. If you shop there a lot it's worth it, however (if it's still happening) right now if you apply during a purchase of $100 or more you get $20 off immediately.
Capital one is the opposite of a foot in the door lender. They don't care about you unless you're a prime cardholder.
If you perform well with a GE card though, they'll pretty much approve you for any of their other cards, plus you get the CLIs every 4 months as opposed to cap1's single CLI after 6 months followed by silence.
That is a high starting limit for C1! WOW! I have had their card for like six years, and I've been stuck at a CL of $1,300 for like almost four of those years!
Congrats and good luck! Just don't forget that C1 rarely grows with people, so once you hit a FICO of like 650+, you might be better off getting a prime card like Chase.
:-)
Cap1 has been good to me so far. haha. They PCd me when my account turned 2...weeks old 
to a cash rewards card, I had an issue with them and they gave me a $50 credit adjustment. I've recieved 4 extra cards from them (all of which were supposed to be my new cash rewards card, only one was though xD) but all of which have been overnighted.
It's all about who you talk to with cap1. Sometimes you get someone helpful, sometimes you don't.
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