Capital One - Two CLI for Secured Cards -- Question for QS1 Owners

[dallasareaguy]

For those carrying the Capital One secured card, I wanted to share my experiences:

My card was acquired Oct 2013 with $49.00 required secured deposit and granted $200.00 deposit.

I raised it to $500 60 days later. At roughly 5 1/5 months I was automatically granted a $300 line increase to $800.00

I then added $1200 to the card taking it to $2000. I just hit a year last statement and haven't received any additional limit. I don't expect one honestly.

My wife's card was acquired June 2014 with member fee showing June 2nd. She paid $49.00 for the $200.00 deposit.

It raised today, November 20th to $500.00. 6 statements have cut, but we aren't technically at 6 months yet.

--- Both of these cards were used entirely and paid off 2-3 times each month to show useage and responsible payments ---

NOW, my question.. at one year I applied for QS1 and was approved for $300. I use this thing constantly and pay it off 2-3 times monthly.

I got a letter saying it will auto graduate to $500 line with responsible handling. I hear some people saying they have seen line increases

from 300 --> 1300 and some even to 2300.. at the 5-6 month mark. Is this likely for heavy usage of the card? Also, I swear I heard someone

say they got an increase automatically within 60-70 days of opening the account. Anyone else have that experience?

[Anonymous]

With Cap One and most lenders, it is a YMMV situation. All you can do is use the card and pay it off. Perhaps writing to the EO again may get you an increased limit sooner, but other than that it's very difficult to determine what they will do.

[bkelly906]

I just finished the credit steps on my Platinum card at the beginning of November.  I went from $300 to $3300.  I also have a Quicksilver One with a $300 limit and I think I finish the credit steps on that in Dec. or Jan.  I do use both cards regularly but used the Q1 more after I received that b/c of the 1.5% cashback.