topic Re: Capital One Credit Line Increase? in Credit Cards

Capital One Credit Line Increase?

Anonymous — Wed, 07 Oct 2009 00:14:44 GMT

Does anyone know why Capital one refuses to give credit limit increases? This was my first credit card ever and all the other 3 credit cards just keep bumping them up. Its just weird, I have never paid late or anything, have a very good history with them but they will not increase the limit besides one time which was only 250 bucks up. I called them and asked why and thet just tell me they review your account periodicaly for an increase. They have lowered the APR about 7% since ive gotten it though. Its not really a big deal since I dont need the extra credit, but was only curious why.

Re: Capital One Credit Line Increase?

Anonymous — Wed, 07 Oct 2009 01:47:41 GMT

@Anonymous wrote:
Does anyone know why Capital one refuses to give credit limit increases? This was my first credit card ever and all the other 3 credit cards just keep bumping them up. Its just weird, I have never paid late or anything, have a very good history with them but they will not increase the limit besides one time which was only 250 bucks up. I called them and asked why and thet just tell me they review your account periodicaly for an increase. They have lowered the APR about 7% since ive gotten it though. Its not really a big deal since I dont need the extra credit, but was only curious why.

I think it depends on how long you've had the account. I've seen older CapOne members on here complain about the same thing. I got my CapOne last year and was automatically enrolled in the Credit Steps program. I was able to double my limit from 1500 to 3000 within about 7 months, but the last time I called they said I needed to wait another 6 months because of the current credit climate. That will be November, so I'll find out next month if they're willing to give me anymore CLIs.

Re: Capital One Credit Line Increase?

Uncle_Money — Wed, 07 Oct 2009 02:27:58 GMT

I just had this conversation with an account manager last week.

It depends on the type of account you have with them. There really isn't room for much growth If you were approved for one of their rebuilder cards. The history doesn't seem to make much of a difference in these cases. If you want a card with a much higher limit from them, you'll probably need to apply for another type of card with them. I've had my account for almost 5 years in perfect standing and my limit remains at only $1,250. I've pretty much given up on trying to get them to raise it. I use it once in a blue moon to keep it active and that's about it. The only good thing is my rate, which is a little of 6%.

Re: Capital One Credit Line Increase?

Anonymous — Wed, 07 Oct 2009 13:52:42 GMT

So if I keep this account for another 5 years, its doubtful that i will see an increase? I dont want to close the account cause Im scared it will lower my average age of account since it was my first card.

Re: Capital One Credit Line Increase?

Anonymous — Wed, 07 Oct 2009 16:27:37 GMT

I started out with their 300 card and could not get an increase no matter what. Then they sent me another card with 3500 cl. I then combined them using the older date. They gave me a couple of increases and just recently upgraded my card to a cash back. cl is 5400 (low but it's high for them)). This took me 7 years.

CCCU was opened in 2008 and they just gave me automatic cli for 2500.

So I guess CAPONE is just very conservative. They just said they will not raise any interest rates before the new law comes out.

Re: Capital One Credit Line Increase?

clocktick — Wed, 07 Oct 2009 23:43:52 GMT

@Anonymous wrote:
They gave me a couple of increases and just recently upgraded my card to a cash back.

How did you go about doing this? How many attempts did it take?

Re: Capital One Credit Line Increase?

Anonymous — Thu, 08 Oct 2009 05:54:56 GMT

@Uncle_Money wrote:
I just had this conversation with an account manager last week.

It depends on the type of account you have with them. There really isn't room for much growth If you were approved for one of their rebuilder cards. The history doesn't seem to make much of a difference in these cases. If you want a card with a much higher limit from them, you'll probably need to apply for another type of card with them. I've had my account for almost 5 years in perfect standing and my limit remains at only $1,250. I've pretty much given up on trying to get them to raise it. I use it once in a blue moon to keep it active and that's about it. The only good thing is my rate, which is a little of 6%.

There is a post somewhere within this forum that contains a list of the CL caps for each type of account that Cap1 offers.

Re: Capital One Credit Line Increase?

Uncle_Money — Thu, 08 Oct 2009 06:35:42 GMT

CWCID,

The account manager told me my card, which currently has a $1,250 CL can go to a max limit of $3,000. I'm waiting for this so I can finally get that Bentley I always wanted! I hope they accept Mastercard!

Seriously, I've given up on my two accounts with Capital One. I won't close em' but I won't use em' either. Once every couple of months I take them out of the sock drawer.

Re: Capital One Credit Line Increase?

Anonymous — Thu, 08 Oct 2009 14:18:50 GMT

Wow, it just doesnt make since to me. How do they make money by not raising the credit line?

Re: Capital One Credit Line Increase?

Anonymous — Thu, 08 Oct 2009 14:19:24 GMT

You might be able to buy one of the wheels on the Bentley with that $3K CL.

Cap1's method pushes you (and always has) into app'ing for more of their cards. At 3 hard INQ's per app one really has to wonder if it is worth it...

Re: Capital One Credit Line Increase?

DI — Thu, 08 Oct 2009 14:28:40 GMT

@Anonymous wrote:
You might be able to buy one of the wheels on the Bentley with that $3K CL.

Cap1's method pushes you (and always has) into app'ing for more of their cards. At 3 hard INQ's per app one really has to wonder if it is worth it...

I totally agree. That is something I am not going to do unless they convert or upgrade my card with a soft pull. I will not carry two of Cap1's card. If it was a Cap One bank card and a store card backed by Cap 1 it would be different.

Message Edited by DI on 10-08-2009 09:28 AM

Re: Capital One Credit Line Increase?

Karatz — Thu, 08 Oct 2009 20:52:50 GMT

Open a new card with the steps thing. Get a few increases or not. Call in and combine the cards using the old history and card. I've done that once. Key point. Both cards should be zero balance or it may not work.

@Uncle_Money wrote:
I just had this conversation with an account manager last week.

It depends on the type of account you have with them. There really isn't room for much growth If you were approved for one of their rebuilder cards. The history doesn't seem to make much of a difference in these cases. If you want a card with a much higher limit from them, you'll probably need to apply for another type of card with them. I've had my account for almost 5 years in perfect standing and my limit remains at only $1,250. I've pretty much given up on trying to get them to raise it. I use it once in a blue moon to keep it active and that's about it. The only good thing is my rate, which is a little of 6%.

Re: Capital One Credit Line Increase?

Anonymous — Thu, 08 Oct 2009 23:08:36 GMT

The question that comes to my mind is can you keep the card type (and associated CL cap) from one card and the history from the other card when you merge the accounts?

Re: Capital One Credit Line Increase?

Anonymous — Thu, 08 Oct 2009 23:19:28 GMT

When I combined my two Cap 1 cards in Dec 08, I couldn't keep things from both cards, I had to choose one card to keep and then they would add the limit to from the other to it. So I did lose some age because I didn't want to keep my oldest card due to it having a higher APR and a AF. Though I have heard on the board here somewhere that they are no longer combining cards, not sure if that's true or not.

Re: Capital One Credit Line Increase?

Uncle_Money — Fri, 09 Oct 2009 04:25:11 GMT

According to a Capital One Account Manager, they no longer combine accounts. I tried this several times last month. Each time I received the same response.