Capital One CC Question

[Derrick1977]

Hello Everyone-

I need your opinion.  You can see the cards that I have already listed in my signature.   I want to establish a high CL for all of them.  My question is, would you apply for the Capital One Platinum Card if you were me to see if a bigger limit would be given?  When I applied for both of the first Capital One cards, my scores were in the low 500's.  I pc'd the Capital One Platinum to a QS last month. 

Here are the current limits for each of them.  

1. QuickSilver- $800
2. QuickSilver One-$1500
3. AMEX GOLD-$1000
4. MACYS-$2000
5. CareCredit $3000
6. Chase Freedom-$1000
7. Walmart-$400

[darwin_wins]

How long have you had these cards? If you got them recently, use them and PIF, that's the easiest way to get CLIs (of course it also depends on your credit profile at that time), If you can extensively use your CapOne cards and pay them multiple times during the month if you are reaching the limit they will give you CLI. Don't apply for new cards

[Derrick1977]

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@darwin_wins wrote:

How long have you had these cards? If you got them recently, use them and PIF, that's the easiest way to get CLIs (of course it also depends on your credit profile at that time), If you can extensively use your CapOne cards and pay them multiple times during the month if you are reaching the limit they will give you CLI. Don't apply for new cards

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Thanks for Respond Darwin.  Yes, I got all of the cards from August up until yesterday.  The Capital Ones were all gotten in August. I have used them all and PIF every month except this month.  I am carrying a small balance of less than $100 on the QS1 card this month.  Bill cut today and closes on the 18th. 
Ok, so you don't think I should apply for another Cap1 card and combine it with my current Capital One?   

[Anonymous]

I would wait until both cap one cards hit the six month mark and get their credit steps increases. Combine them (roll the QS1 into the QS) then the next day, app for another platinum.

[Derrick1977]

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@Anonymous wrote:
I would wait until both cap one cards hit the six month mark and get their credit steps increases. Combine them (roll the QS1 into the QS) then the next day, app for another platinum.

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Hi NormanFH-

Thats what I want to do.  I even considered waiting to see how the steps increase looked and then waiting a few more months and getting another CLI and then combining.   

[designated_knitter]

If you haven't already tried it, I would try for CLIs on the Capital 1s BEFORE the credit steps kick in.  When I had my Sony card, my CL tripled after 3-4 months... and then I still got the credit steps for a "double whammy"...

So my Sony started out at 500 in February.  In April, I hit the love button and they increased it to 1500 (a 1000 CLI!).  Then when credit steps kicked in, I got 500 bucks more.

If you wait until Credit steps -- you be on the strict every 6 month plan.  You won't be eligible for another 6 months after the credit steps increase.

Good luck!

[Derrick1977]

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@designated_knitter wrote:

If you haven't already tried it, I would try for CLIs on the Capital 1s BEFORE the credit steps kick in.  When I had my Sony card, my CL tripled after 3-4 months... and then I still got the credit steps for a "double whammy"...

So my Sony started out at 500 in February.  In April, I hit the love button and they increased it to 1500 (a 1000 CLI!).  Then when credit steps kicked in, I got 500 bucks more.

If you wait until Credit steps -- you be on the strict every 6 month plan.  You won't be eligible for another 6 months after the credit steps increase.

Good luck!

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Hi Designated_Knitter-

Yes, thats what I did.   I got a Plantinum ($300 SL) and QS1 ($500 SL) in August.    After two months, I hit the luv button and went up from to $800 on the Platinum and $1500 on the QS1.    I PC the Platinum for a QS and thats where I am today.  both of my 5 statements cut Friday and I will be done with the 5 payments.  My steps increase should come in January or February. 

[gizmotchy]

I probably would not app for another CapOne card right now, honestly.  Roll the QS1 limit into the QS, and hit the luv button every 6 months, it *WILL* grow!  I got my original platinum back in 2012 with a $500 limit, which had grown to 3000.  Earlier this year, I PC'd that to Quicksilver, and also got bumped to 5K.  CapOne cards will grow as you use them.  Just don't rush it.

[Anonymous]

Yes from what I've read cap one grows. Seem it grows pretty fast too. I got QS1 and platinum while my score was at high 500. Cap one increased my QS1 to 3000 and platinum to 2000 and all after 1st billing. I charged about 8000 between 2 card within that month though.

[1Rebuilding]

CO Quicksilver 1 was my first CC after my BK was completed.  They gave me $3k off the bat on it.  I applied for a CO Quicksilver visa 30 days later and was approved for $3k on that one.   4 Months into the CO Quicksilver visa they raised my limit from $3k to $10k automatically.  I hit the love button on my CO Quicksilver 1 a week later and got a bump to $6k on that card.  Both cards are under the 6 month mark and I hope they will still raise them when I hit it.  I had pretty heavy usage on both cards and have always paid it down and only carried a balance on them 1 month just to see the point change on my fico score.  CO seems to reward cards with heavy usage as long as you pay it down.  I would try that on your current card first.