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Frequent Contributor
Posts: 286
Registered: ‎03-27-2014
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Capital one help please

[ Edited ]

Got approved for capital one platinum for a low $300 limit does anyone know if it grows quickly or can you change over to a better card after time 

Regular Contributor
Posts: 121
Registered: ‎04-03-2014
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Re: Capital one help please

From reading others experiences with Capital One (as well as my own), they are not a lender that seems to grant a lot of CLIs, or even have their members eventually end up with a higher limit at all.  It is regarded as more of a rebuilding card.

$18000 Discover IT / $6000 Chase Freedom / $5000 DCU Visa / $3900 Fifth Third / $2500 Capital One Quicksilver / $2000 AMEX Blue Cash Everyday / $500 Chase Slate
Valued Contributor
Posts: 1,542
Registered: ‎10-25-2011
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Re: Capital one help please

usually the 300$ ones are part of their "Steps" program or something similar, which in 6mo intervals, they will review your account for possibilities of bumping up the limit.... one of my cards started out like that about 2 years ago, 

 

progressions:

300

500

1500

3000 (Upgraded to QuickSilver) 

 

so your mileage may vary, but it seemed like a good program to be in, now that i was upgraded out of it. 

 

 

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Starting Score: 512 10/2011 Current Score: EQ: 686 | TU: 689 | EX: 690
In My Wallet: SFCU Visa: $10,000 | UECU Visa: $5000 | WellsFargo: $3900 | Cap1 QS: $3500 | Cap1 QS: $3000 | Cap1 AU: $3250
Regular Contributor
Posts: 156
Registered: ‎05-02-2014
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Re: Capital one help please


Tomgon1981 wrote:

Got approved for capital one platinum for a low $300 limit does anyone know if it grows quickly or can you change over to a better card after time 


I got a Capital One Platinum for $1500 or so, many years ago, and just let it sit, rarely used. I never once got an auto-CLI, even when my credit was good. For comparison, my fiancee gets somewhat regular auto-CLIs from Chase (???). 

 

Once I started actively working on my credit, Capital One has been dicey. I was denied during a rebuilding period last year for a simple CLI, despite my years and years of history on the card. On recon, they gave me a $250 increase . Six months later, they gave me $2000 increase. 

 

What I'm getting at is, for Capital One, you will always have to ask. And they're going to be stingy about it unless you have both above-average credit AND a good history with them. 


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Valued Contributor
Posts: 2,392
Registered: ‎07-13-2013
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Re: Capital one help please

[ Edited ]

Your in their credit steps program, so after 6 statements if you make your payment on time they will give you an auto-cli. Also you can PC after 6 periods to QS if you want. My BF was able to after he got his cli. He started at 300 then they gave him an auto-cli of a 1000 and was able to PC to QS. Also was able to remove the AF. 



I realized i am still young and still have many years to achieve whatever i want.
Frequent Contributor
Posts: 286
Registered: ‎03-27-2014
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Re: Capital one help please

I was really hoping to get a decent limit as I currently have a discover it card with $1400 limit 

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Established Contributor
Posts: 599
Registered: ‎02-14-2013
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Re: Capital one help please

My first Cap 1 card from 1/2013 went from $700 to $2000 after 5 months, and to $2500 6 mos. after that. My 2nd Cap1 card went from $500 to $1750 after 5 mos. I've read a lot of posts the past year with similar results.

Frequent Contributor
Posts: 286
Registered: ‎03-27-2014
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Re: Capital one help please

Nice thanks 

Moderator
Posts: 9,933
Registered: ‎01-15-2009
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Re: Capital one help please

If you USE this card a lot, I think it will be beneficial to you. If you just let it sit as others say they did, of course Capital One really has no vested interest in keeping you as you've done absolutely nothing for them to incentivize them to help you.

Hope I made sense. I truly think that this card CAN grow and will so long as you make it your primary. (To some people, it's worth it to do this, to others not at all, but you have to decide if it is for you.)
Frequent Contributor
Posts: 286
Registered: ‎03-27-2014
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Re: Capital one help please

I currently use my discover it card for everything due to cash back  bonuses 

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