topic Re: Capital One Update? in Credit Cards

Capital One Update?

Beast26 — Sat, 31 Oct 2020 14:38:41 GMT

I've never had a problem paying and getting my payment accredited back to my limit. But usually if I pay my balance off one day, it will be added back to my limit the next day. Today when I paid my balance, it immediately updated to my credit limit. Aside from that my $600 is still less than useless for big purchases and I missed out on over $50 of cashback because my limit was too low to pay for my $2100 in car repairs and other things.

With all that said, about how much should I spend of my $600 limit per month to get an increase every 6 months with them? It shouldn't be hard with a $600 limit.

Re: Capital One Update?

flexin222 — Sat, 31 Oct 2020 15:51:10 GMT

Morning Beast, I don't know if I understand completely what you're doing, but if you have a $600 CL I don't think you need to keep charging it up and paying it off for them to give you higher credit limits. If you have other cards you use too do you want to have debt? With all this crap going on with the economy and pandemic, I'm barely using my cards and If I do I am paying em off soon as that bill comes. Just wait the 6 months and ask for an increase. Show some spend to show you're using the card is okay, but don't go crazy cause It's just useless spend in my opinion. Example...I have a Quicksilver with okay limit, I barely use it anymore. I might as well upgrade it to a Savor, but Cap1 is only offering Venture. I don't fly and have hotel card so it's a no. I can wait till the offer comes in because you can't call and get what you want. I tried...lol

I hate credit sometimes...Good luck on the increase and keep that money in your pocket!

Re: Capital One Update?

Anonymous — Sat, 31 Oct 2020 15:59:53 GMT

Honestly, from what I've read around here regarding this issue with Cap One and low limit cards it won't matter if you charge it to the hilt or barely use it. They will decide what to give you and when, odds are it won't be enough to make much difference. I definitely wouldn't put extra spend on it with the hope that it would result in an increase. GL

Re: Capital One Update?

OmarGB9 — Sat, 31 Oct 2020 16:10:07 GMT

It may very well be bucketed, in which case growth will be very minimal, if it grows at all. Unfortunately no matter how much or how little you spend, they'll give you a CLI if and when they feel like it. Nothing you can really do to help it. Lately they've been very stingy with CLIs.

Re: Capital One Update?

Beast26 — Sat, 31 Oct 2020 17:00:44 GMT

Yes I know it's bucketed. If I could atleast get it up $100 every 6 months I will keep it open indefinitely just for the history. But if a 6 month period goes by that I don't get an increase it will be close immediately. I have no use for a card under $1000 CL.

Re: Capital One Update?

Anonymous — Sat, 31 Oct 2020 17:05:56 GMT

@Beast26 wrote:
Yes I know it's bucketed. If I could atleast get it up $100 every 6 months I will keep it open indefinitely just for the history. But if a 6 month period goes by that I don't get an increase it will be close immediately. I have no use for a card under $1000 CL.

You should probably just close it now and save yourself the aggravation. It's highly unlikely, given CapOne's history, that you'll see any additional CLIs on this card anytime soon, if ever.

Re: Capital One Update?

Beast26 — Sat, 31 Oct 2020 17:55:01 GMT

It is my oldest card it's a year old and all of the rest are less than a year old. I will atleast wait until I get the Freedom Flex and Amazon Prime cards in December so I will maintain more than 3 open cards.

Re: Capital One Update?

Anonymous — Sat, 31 Oct 2020 21:11:34 GMT

@Beast26 wrote:
It is my oldest card it's a year old and all of the rest are less than a year old. I will atleast wait until I get the Freedom Flex and Amazon Prime cards in December so I will maintain more than 3 open cards.

Makes sense. Not planning to close QS until my other cards are at least a year old. Since cards stay on reports up to 10 years Im not too concerned about the impact and the limit loss won't affect util.

You might very well get $100 every six months since thats an amount they seem to favor offering right now. (available on my card at the moment) Thats not personally worth the extended wait to me. First and last Cap One card. But if you like Cap One and want to see how things go I hope it works out well for you.

Re: Capital One Update?

Beast26 — Sun, 01 Nov 2020 00:40:18 GMT

I don't like capital one. But I do want the Walmart MC to get the 5% back on grocery pickup. I'm a Walmart shopper and even though I hate capital one they are the only bank with a Walmart card right now with 5% back. I do not shop anywhere else for groceries because food lion and Piggly wiggly are both way too expensive to shop at for groceries. Even with a 5% card for those stores I would still come out on top getting my groceries from Walmart so I may as well get the Walmart MC until another bank make one.

Re: Capital One Update?

GrabbedByTheGhoulies — Sun, 01 Nov 2020 07:03:06 GMT

@Beast26 wrote:
I don't like capital one. But I do want the Walmart MC to get the 5% back on grocery pickup.

That card is on my wish list also. 5% at Walmart sure would be nice. I don't have any problems with Capital One yet. I'm grateful that they gave me another chance after I burned them in the past.

Re: Capital One Update?

Remedios — Sun, 01 Nov 2020 16:51:25 GMT

@Beast26 wrote:
I've never had a problem paying and getting my payment accredited back to my limit. But usually if I pay my balance off one day, it will be added back to my limit the next day. Today when I paid my balance, it immediately updated to my credit limit. Aside from that my $600 is still less than useless for big purchases and I missed out on over $50 of cashback because my limit was too low to pay for my $2100 in car repairs and other things.

With all that said, about how much should I spend of my $600 limit per month to get an increase every 6 months with them? It shouldn't be hard with a $600 limit.

Don't close it quite yet. You have a very limited history, and if you were to close it, you'd be left with Discover only.

You can't use fingerhut for purchases other than whatever they are overpricing on their website.

Even simple things like Discover network being down or merchant not accepting Discover would leave you card-less.

With three accounts and a year worth of history, you need to let your accounts age a bit more if you want your future approvals to be under decent terms.