topic Re: Capital One stingy with Credit Limit Increases? in Credit Cards

Capital One stingy with Credit Limit Increases?

Dennis885 — Thu, 25 Jul 2024 16:51:04 GMT

Mainly to increase my available credit and minimize utilization %, I'll request limit increases on my cards every 6-12 months.

I did it for all my cards today:

Citi gave me a $2,00 CLI

Amex $10,000 CLI (I've been too conservative the last few requests so I went for a $10k increase and got it instant)

Captial One $750 - It's always been $500

or $750 with Capital One for me. Is this typical?

Also have an old Capital One secured card that was converted to a standard Mastercard, with a $500 limit. They refuse to increase it because I rarely ever use it, which is because it only has a $500 limit.

All cards are always paid in full. 800 FICO. It just seems odd how low of increases Cap One grants vs. others.

Re: Capital One stingy with Credit Limit Increases?

911gt34life — Thu, 25 Jul 2024 17:52:58 GMT

There's a possibility that your account is bucket

Re: Capital One stingy with Credit Limit Increases?

GZG — Thu, 25 Jul 2024 17:52:05 GMT

@Dennis885 wrote:
Mainly to increase my available credit and minimize utilization %, I'll request limit increases on my cards every 6-12 months.

I did it for all my cards today:

Citi gave me a $2,00 CLI

Amex $10,000 CLI (I've been too conservative the last few requests so I went for a $10k increase and got it instant)

Captial One $750 - It's always been $500
or $750 with Capital One for me. Is this typical?

Also have an old Capital One secured card that was converted to a standard Mastercard, with a $500 limit. They refuse to increase it because I rarely ever use it, which is because it only has a $500 limit.

All cards are always paid in full. 800 FICO. It just seems odd how low of increases Cap One grants vs. others.

this is very typical and those cards will practically never grow, if you want higher limit capital one cards, use the pre-approval tool, see what they might pre-approve you for and apply

Re: Capital One stingy with Credit Limit Increases?

DanteJuan95 — Thu, 25 Jul 2024 18:25:07 GMT

@Dennis885 wrote:
Mainly to increase my available credit and minimize utilization %, I'll request limit increases on my cards every 6-12 months.

I did it for all my cards today:

Citi gave me a $2,00 CLI

Amex $10,000 CLI (I've been too conservative the last few requests so I went for a $10k increase and got it instant)

Captial One $750 - It's always been $500
or $750 with Capital One for me. Is this typical?

Also have an old Capital One secured card that was converted to a standard Mastercard, with a $500 limit. They refuse to increase it because I rarely ever use it, which is because it only has a $500 limit.

All cards are always paid in full. 800 FICO. It just seems odd how low of increases Cap One grants vs. others.

All other issuers usually offer CLIs based off of general usage and other things, CapOne is a exception that too, relies heavily on heavy usage than others that would not heavily require the usage to be in range like what C1 requires, but then again the card could be "bucketed".

Re: Capital One stingy with Credit Limit Increases?

MissLiz — Thu, 25 Jul 2024 19:55:20 GMT

Capone isn't known for generous CLI's, especially on bucketed cards. Congratulations on your other awesome CLI's!

Re: Capital One stingy with Credit Limit Increases?

RebelRocket — Thu, 25 Jul 2024 20:21:53 GMT

Many years ago, they gave me multiple increases approximately $2,500-$3000 3 years in a row; couldn't tell ya why that was the case.

But since my other cards are more predictable and consistent, I've stopped trying to figure them out.

Best of luck to you though if you're ever able to do so, but in any case, congrats on your other boosts!

Re: Capital One stingy with Credit Limit Increases?

Dennis885 — Thu, 25 Jul 2024 22:40:24 GMT

Thanks, I had to google what a bucketed credit card is, but makes sense.

FWIW the Cap One is a QuickSilver, Citi is DoubleCash, and Amex is Blue Cash Everyday.

I'd like to get in with Chase rather than a higher limit Capital One, but I think I'm probably blacklisted, and don't want to use a hard inquiry to find out (no soft pull preapproval). Different story for a different day I guess.

Re: Capital One stingy with Credit Limit Increases?

Gregory1776 — Fri, 26 Jul 2024 20:58:06 GMT

https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/What-is-Bucketing/td-p/5406215

I had this same question about my Citi Simplicity which I can see not growing, as when I opened, I had a high balance on a card, BT to it, and I utilized all of the credit limit, and will likely only pay the minimum balance for 2-3 months until I pay off another balance transfer @1.99% with chase.

I was going to find the card useless next summer, and PC to something useful, close it, or open another CC and transfer the limit. $9,100 is annoying to look at.

I was curious if me paying only the minimum payments on 8.8 K would result in Citibank not liking me at all

Re: Capital One stingy with Credit Limit Increases?

DanteJuan95 — Fri, 26 Jul 2024 21:11:42 GMT

TBF, I personally don't see nor understand the obsession of wanting to have moderately or extremely high CLs if nobody going to use past 2 or 5% of that amount. Now unless you (all) have the high enough income to pay a good amount of, which I assume everyone here (except me) has. It's not like you're saving it to buy a house for yourself or the kids, that's only what the loans are there for. To make a long story short, I failed to see any purpose of wanting more than enough CLIs if the score you have is good enough or whatever the purpose of wanting more than enough CLIs. IJS

Re: Capital One stingy with Credit Limit Increases?

Gregory1776 — Fri, 26 Jul 2024 21:26:46 GMT

@DanteJuan95 wrote:
TBF, I personally don't see nor understand the obsession of wanting to have moderately or extremely high CLs if nobody going to use past 2 or 5% of that amount. Now unless you (all) have the high enough income to pay a good amount of, which I assume everyone here (except me) has. It's not like you're saving it to buy a house for yourself or the kids, that's only what the loans are there for. To make a long story short, I failed to see any purpose of wanting more than enough CLIs if the score you have is good enough or whatever the purpose of wanting more than enough CLIs. IJS

Utilization purposes? Having higher amounts of credit available makes it easier to borrow.

Re: Capital One stingy with Credit Limit Increases?

Zoostation1 — Sat, 27 Jul 2024 00:26:19 GMT

@DanteJuan95I don't need extremely high limits, but I want high enough limits that I can organically let balances report without having to worry about major score swings month to month due to reported utilization. Each person's definition of a high limit will be different as well. For me, I'm content that my 2 most used cards are $15k and $20k. I'd love to see my next most used card at $10k (sitting at $5k currently). Beyond that I don't really care all that much.

Re: Capital One stingy with Credit Limit Increases?

Jd57 — Thu, 31 Oct 2024 01:00:52 GMT

I'm in a similar situation as you. Cap1 does have their buckets, but for me it's only on my Savor1. I get $300 increases everytime I request (6 months apart). But my Venture X and V1 increases have been $3k and $5k.

So instead of staying in the cap one family I applied with Amex and got approved for Amex Delta preferred. I agree with you, get in with Chase, it'll make your profile look better.

Re: Capital One stingy with Credit Limit Increases?

DanteJuan95 — Thu, 31 Oct 2024 01:16:09 GMT

@Jd57 wrote:
I'm in a similar situation as you. Cap1 does have their buckets, but for me it's only on my Savor1. I get $300 increases everytime I request (6 months apart). But my Venture X and V1 increases have been $3k and $5k.
So instead of staying in the cap one family I applied with Amex and got approved for Amex Delta preferred. I agree with you, get in with Chase, it'll make your profile look better.

FWIW, I look at it as another YMMV thing. What works for me, may not works for you, like you could apply for either Chase or whatever you describe and get something out of them, which it's quite opposite for me.

Re: Capital One stingy with Credit Limit Increases?

stonedog23 — Thu, 31 Oct 2024 14:07:27 GMT

@DanteJuan95 wrote:
@Dennis885 wrote:
Mainly to increase my available credit and minimize utilization %, I'll request limit increases on my cards every 6-12 months.

I did it for all my cards today:

Citi gave me a $2,00 CLI

Amex $10,000 CLI (I've been too conservative the last few requests so I went for a $10k increase and got it instant)

Captial One $750 - It's always been $500
or $750 with Capital One for me. Is this typical?

Also have an old Capital One secured card that was converted to a standard Mastercard, with a $500 limit. They refuse to increase it because I rarely ever use it, which is because it only has a $500 limit.

All cards are always paid in full. 800 FICO. It just seems odd how low of increases Cap One grants vs. others.

All other issuers usually offer CLIs based off of general usage and other things, CapOne is a exception that too, relies heavily on heavy usage than others that would not heavily require the usage to be in range like what C1 requires, but then again the card could be "bucketed".

Every Cap One card is bucketed. It's just depends on what bucket you are in. I'm in that bad credit bucket that hasn't gotten an increase in nearly 10 years of asking. At least the OP got an increase.

Re: Capital One stingy with Credit Limit Increases?

FicoMike0 — Thu, 31 Oct 2024 14:27:05 GMT

I have a qs that has grown slowly, $2000 to $2500 to $2900 to $3200. Not a lot of usage. Would I do better if I pc it to savor?

Re: Capital One stingy with Credit Limit Increases?

visionsdivine — Sat, 02 Nov 2024 04:52:27 GMT

If you absolutely need a Capital One CLI, you have to nearly max it out for a few months and then request an increase. That's at least what happened with me when I was using them for everything. In the last few months since I've gotten an Amex and don't use them anymore, I'm always denied a CLI due to lack of usage. I only keep these accounts due to age, but it's hard to have a longterm relationship with Capital One unless you just really like how they do things.