topic Re: How to increase limit on (prev.) secured card in Credit Cards

How to increase limit on (prev.) secured card

Dennis885 — Fri, 18 Feb 2022 02:01:25 GMT

A few years ago I got a Capital One secured credit card with $500 limit.

After improving my credit (including being approved for another Capital One card with a $5k limit, and Amex with $8k limit) the secured card was converted to a standard capital one Mastercard and my deposit was returned.

However, 2-3 years later the limit is still $500. I requested an increase but was denied for not using the card enough. Well (Mod cut - language, please. There's a reason for the TOS), with a $500 limit it's hard to use. A few trips to the store and I'm over.

Who can I reach out to and request and increase, and explain if the limit was higher, I would actually use it!

Re: How to increase limit on (prev.) secured card

EAJuggalo — Fri, 18 Feb 2022 01:37:00 GMT

You probably can't. Capital One buckets their rebuilder cards to only grow to a certain level no matter what you're profile looks like. In general, the advice is to apply for a different Cap One card once your profile improves to that level. Personally, I would close the card if you have enough other accounts that you don't need it.

Re: How to increase limit on (prev.) secured card

AverageJoesCredit — Fri, 18 Feb 2022 02:02:49 GMT

@Dennis885 wrote:
A few years ago I got a Capital One secured credit card with $500 limit.

After improving my credit (including being approved for another Capital One card with a $5k limit, and Amex with $8k limit) the secured card was converted to a standard capital one Mastercard and my deposit was returned.

However, 2-3 years later the limit is still $500. I requested an increase but was denied for not using the card enough. Well (Mod cut - language, please. There's a reason for the TOS), with a $500 limit it's hard to use. A few trips to the store and I'm over.

Who can I reach out to and request and increase, and explain if the limit was higher, I would actually use it!

Only way is with heavy use and thats no gaurentee for any one with Cap One. A secured card should serve its purpose to get better cards and if achieved focus on building those. This is a losing battle imho.

Re: How to increase limit on (prev.) secured card

Dennis885 — Fri, 18 Feb 2022 01:57:12 GMT

Sounds like I'd be better off opening a new card with Citi and just keep the $500 limit card forever lol. Thanks

Re: How to increase limit on (prev.) secured card

EAJuggalo — Fri, 18 Feb 2022 13:15:26 GMT

Let it die. I'm doing that personally with two of my three Capital One accounts, and only keeping the third because it's my second oldest account and the limit is somewhat usable. It started as a rebuilder card 6 years ago and hasn't seen a CLI in the last 5.

Re: How to increase limit on (prev.) secured card

Dennis885 — Fri, 18 Feb 2022 15:41:46 GMT

Thanks for the input.

I'll keep it for now and throw a tank of gas on it here and there.

Including that card I have 3 total. The other two have a $5k (Cap. One Venture) and $8k (Amex) limit, so I was just hoping to get it more in line with those, increase available credit, etc.

I guess that leads to my next question. I was thinking of applying for the Citi Double Cash card, does that card typically offer decent initial limits? I see you have one at $800. I'm not even going to apply if thats what I should expect. I had a different Citi card maybe 10 years ago, it was closed years ago but was $4500 and in hood standing.

Re: How to increase limit on (prev.) secured card

Dennis885 — Fri, 18 Feb 2022 15:58:40 GMT

Well I pulled the trigger, got $3000 limit.

While I was at it I also requested increases on my other cards. I feel stupid but didn't realize that could be done with a soft pull.

Capital One $5k requested $8k, got $5750

Amex $8k, requested $12k, got $12k - wish I aimed higher lol

In 15 minutes added a new line and $7750 to my available credit. I'm pretty happy about that!

Re: How to increase limit on (prev.) secured card

FinStar — Fri, 18 Feb 2022 19:37:41 GMT

As the OP has provided an update on the outcome, this thread is now locked and closed to new messages.