topic Re: How Frequently Does Capital One Reduce Credit Limits? in Credit Cards

How Frequently Does Capital One Reduce Credit Limits?

Varsity_Lu — Fri, 14 Feb 2025 19:17:09 GMT

I have 2 Capital One cards, Quicksilver with $12k and Savor with $10k. I use my Savor all the time, but not so much my Quicksilver. I plan to app for the Fidelity Rewards Visa soon which will be my 2% everything else card, so at that point my Quicksilver will be all but useless.

My options are to keep it alive with a periodic Altoids purchase or move as much of the credit over to my Savor and close it.

Keeping it open seems the best since it is my oldest active card, but if Capital One eventually just cuts my limit on it, I am thinking it might be better just to move some of the credit over to Savor now.

So, does anyone have first hand experience with Capital One lowering their limit? How often does it happen? Are there any spending habits would keep it from happening?

Re: How Frequently Does Capital One Reduce Credit Limits?

ElvisCaprice — Fri, 14 Feb 2025 19:22:30 GMT

Do you really need the credit? That's the real question. Your not utilizing that credit currently, so it would seem you don't need it. Thus who cares what Capital One does in the future, just sock drawer it. I'm sure you'll get a big SL on the Fidelity Visa to replace it.

Re: How Frequently Does Capital One Reduce Credit Limits?

GZG — Fri, 14 Feb 2025 19:23:07 GMT

typically you get a 'account review' letter saying they're going to lower your credit limit, but they give you a phone number to call to opt-out of the review and that's it

that's not to say they won't lower your credit limits for low spend, but if they do, so be it, I wouldn't really worry too much about it

there's also another plan of closing/product chagning (if it's offered) the quicksilver without reallocating the limit and leaving yourself the flexibility in terms of TCL w/Cap1 to get a Venture X at some point in the future

Re: How Frequently Does Capital One Reduce Credit Limits?

CYBERSAM — Fri, 14 Feb 2025 19:34:14 GMT

eventually

@Varsity_Lu wrote:
I have 2 Capital One cards, Quicksilver with $12k and Savor with $10k. I use my Savor all the time, but not so much my Quicksilver. I plan to app for the Fidelity Rewards Visa soon which will be my 2% everything else card, so at that point my Quicksilver will be all but useless.

My options are to keep it alive with a periodic Altoids purchase or move as much of the credit over to my Savor and close it.

Keeping it open seems the best since it is my oldest active card, but if Capital One eventually just cuts my limit on it, I am thinking it might be better just to move some of the credit over to Savor now.

So, does anyone have first hand experience with Capital One lowering their limit? How often does it happen? Are there any spending habits would keep it from happening?

I'll say go ahead and move the credit to Savor if you can.
Cap1 doesn't like ppl sock drawing their cards, so they will send you a letter: Use it, or lose it .

I had to close my QS after they cut the limit for the same reason.

Re: How Frequently Does Capital One Reduce Credit Limits?

AndySoCal — Sat, 15 Feb 2025 03:21:51 GMT

@Varsity_Lu @I agree with the idea of transferring the limit and closing the card. The card will continue to report for seven more years after it has been closed.

Re: How Frequently Does Capital One Reduce Credit Limits?

Varsity_Lu — Sat, 15 Feb 2025 10:19:16 GMT

@ElvisCaprice

Need? No. But I have $22k of credit from Capital One and I really like them overall, so I' like to keep it if I can. People complain about how stingy they are with CLIs so I might as well try and hold on to it. I see me keeping Savor in my wallet a long time.

Re: How Frequently Does Capital One Reduce Credit Limits?

Varsity_Lu — Sat, 15 Feb 2025 10:28:01 GMT

@GZG

If I go the X route I'd most likely open a new account to get the SUB. The only PC I'd go with this is another no AF card which leaves me with Venture One. Not sure that's an upgrade.

Re: How Frequently Does Capital One Reduce Credit Limits?

Varsity_Lu — Sat, 15 Feb 2025 10:18:37 GMT

@CYBERSAM

Did you get an account review letter prior to you limit being cut?

Re: How Frequently Does Capital One Reduce Credit Limits?

Varsity_Lu — Sat, 15 Feb 2025 10:26:03 GMT

I think I'll move $10k over to Savor which would give me $20k on that card. I use it a lot, do the chances of them lowering that is low I think. That will leave $2k on a sock drawer Quickdilver card that I will keep alive for account age purposes. Maybe I'll close it in a few years once my younger cards age so it won't affect my AAoA as much.

Re: How Frequently Does Capital One Reduce Credit Limits?

Varsity_Lu — Sat, 15 Feb 2025 10:27:11 GMT

@AndySoCal

I thought closed accounts stayed for 10 years. Is it only 7?

Re: How Frequently Does Capital One Reduce Credit Limits?

AndySoCal — Sat, 15 Feb 2025 15:13:54 GMT

@Varsity_Lu Here is a link to an article the verbiage says upto 10 years

https://www.transunion.com/blog/credit-advice/how-long-do-closed-accounts-stay-on-credit-report?atvy=%7B%22264995%22%3A%22Experience+B%22%7D

Re: How Frequently Does Capital One Reduce Credit Limits?

TrapLine — Sat, 15 Feb 2025 16:40:45 GMT

@AndySoCal wrote:
@Varsity_Lu Here is a link to an article the verbiage says upto 10 years

https://www.transunion.com/blog/credit-advice/how-long-do-closed-accounts-stay-on-credit-report?atvy=%7B%22264995%22%3A%22Experience+B%22%7D

One financial that I have had credit products with back to at least the 1980's has never left their closed products reporting for me more than three years (First National Bank of Omaha or FNBO). Yes, the ten years is the usual guide and I know Capital One has allowed my closed card accounts report for up to fourteen years but the majority is around ten.

Re: How Frequently Does Capital One Reduce Credit Limits?

NoMoreE46 — Sat, 15 Feb 2025 18:08:07 GMT

@Varsity_Lu wrote:
I think I'll move $10k over to Savor which would give me $20k on that card. I use it a lot, do the chances of them lowering that is low I think. That will leave $2k on a sock drawer Quickdilver card that I will keep alive for account age purposes. Maybe I'll close it in a few years once my younger cards age so it won't affect my AAoA as much.

@Varsity_Lu ,

You may be limited to $7,000 on the reallo from the QS. A few DPs indicate that a min of $5,000 must remain on the QS. I hope CapOne changes this.

Re: How Frequently Does Capital One Reduce Credit Limits?

Varsity_Lu — Sat, 15 Feb 2025 20:10:37 GMT

@NoMoreE46 wrote:
@Varsity_Lu wrote:
I think I'll move $10k over to Savor which would give me $20k on that card. I use it a lot, do the chances of them lowering that is low I think. That will leave $2k on a sock drawer Quickdilver card that I will keep alive for account age purposes. Maybe I'll close it in a few years once my younger cards age so it won't affect my AAoA as much.
@Varsity_Lu ,

You may be limited to $7,000 on the reallo from the QS. A few DPs indicate that a min of $5,000 must remain on the QS. I hope CapOne changes this.

I'm pretty sure it's $500, not $5,000.

Re: How Frequently Does Capital One Reduce Credit Limits?

GZG — Sat, 15 Feb 2025 20:12:38 GMT

@Varsity_Lu wrote:
@NoMoreE46 wrote:
@Varsity_Lu wrote:
I think I'll move $10k over to Savor which would give me $20k on that card. I use it a lot, do the chances of them lowering that is low I think. That will leave $2k on a sock drawer Quickdilver card that I will keep alive for account age purposes. Maybe I'll close it in a few years once my younger cards age so it won't affect my AAoA as much.
@Varsity_Lu ,

You may be limited to $7,000 on the reallo from the QS. A few DPs indicate that a min of $5,000 must remain on the QS. I hope CapOne changes this.
I'm pretty sure it's $500, not $5,000.

perhaps some og visa signature quicksilvers are limited to staying at $5k, wouldn't surprise me, but typically it is $500

Re: How Frequently Does Capital One Reduce Credit Limits?

NoMoreE46 — Sat, 15 Feb 2025 21:22:52 GMT

@GZG wrote:
@Varsity_Lu wrote:
@NoMoreE46 wrote:
@Varsity_Lu wrote:
I think I'll move $10k over to Savor which would give me $20k on that card. I use it a lot, do the chances of them lowering that is low I think. That will leave $2k on a sock drawer Quickdilver card that I will keep alive for account age purposes. Maybe I'll close it in a few years once my younger cards age so it won't affect my AAoA as much.
@Varsity_Lu ,

You may be limited to $7,000 on the reallo from the QS. A few DPs indicate that a min of $5,000 must remain on the QS. I hope CapOne changes this.
I'm pretty sure it's $500, not $5,000.
perhaps some og visa signature quicksilvers are limited to staying at $5k, wouldn't surprise me, but typically it is $500

Yes some are $5000 while some are $500 min. Mine is $5000.

Re: How Frequently Does Capital One Reduce Credit Limits?

UncleB — Sun, 16 Feb 2025 01:23:32 GMT

@NoMoreE46 wrote:
@GZG wrote:
@Varsity_Lu wrote:
@NoMoreE46 wrote:
@Varsity_Lu wrote:
I think I'll move $10k over to Savor which would give me $20k on that card. I use it a lot, do the chances of them lowering that is low I think. That will leave $2k on a sock drawer Quickdilver card that I will keep alive for account age purposes. Maybe I'll close it in a few years once my younger cards age so it won't affect my AAoA as much.
@Varsity_Lu ,

You may be limited to $7,000 on the reallo from the QS. A few DPs indicate that a min of $5,000 must remain on the QS. I hope CapOne changes this.
I'm pretty sure it's $500, not $5,000.
perhaps some og visa signature quicksilvers are limited to staying at $5k, wouldn't surprise me, but typically it is $500

Yes some are $5000 while some are $500 min. Mine is $5000.

Capital One won't let me transfer any of the credit line from my Quicksilver Visa with a CL of $5k, but with my OG Savor card they'll let me transfer away $6k of the $6500 credit line. They are both 'bucket' cards and the Savor used to be an HSBC/Orchard Bank account so I would have assumed it would be more 'bucketed' than the Visa, but I guess not.

The QS Visa is useless for me, but it's old-ish (2015) and I'm hopeful I'll eventually be able to do something neat with it if/when the Capital One/Discover merger takes place.

Re: How Frequently Does Capital One Reduce Credit Limits?

Varsity_Lu — Sun, 16 Feb 2025 02:14:00 GMT

@UncleB wrote:
Capital One won't let me transfer any of the credit line from my Quicksilver Visa with a CL of $5k, but with my OG Savor card they'll let me transfer away $6k of the $6500 credit line. They are both 'bucket' cards and the Savor used to be an HSBC/Orchard Bank account so I would have assumed it would be more 'bucketed' than the Visa, but I guess not.

The QS Visa is useless for me, but it's old-ish (2015) and I'm hopeful I'll eventually be able to do something neat with it if/when the Capital One/Discover merger takes place.

Ok, so now I'm rethinking this. Is there a chance my Quicksilver could become a Disco card? That just seems weird to me but there may be some value there. I think I will still move $10k over to Savor and leave $2k on it.

Re: How Frequently Does Capital One Reduce Credit Limits?

UncleB — Sun, 16 Feb 2025 04:04:03 GMT

@Varsity_Lu wrote:
@UncleB wrote:
Capital One won't let me transfer any of the credit line from my Quicksilver Visa with a CL of $5k, but with my OG Savor card they'll let me transfer away $6k of the $6500 credit line. They are both 'bucket' cards and the Savor used to be an HSBC/Orchard Bank account so I would have assumed it would be more 'bucketed' than the Visa, but I guess not.

The QS Visa is useless for me, but it's old-ish (2015) and I'm hopeful I'll eventually be able to do something neat with it if/when the Capital One/Discover merger takes place.
Ok, so now I'm rethinking this. Is there a chance my Quicksilver could become a Disco card? That just seems weird to me but there may be some value there. I think I will still move $10k over to Savor and leave $2k on it.

Nobody knows... all we can do is speculate here. ¯\_(ツ)_/¯

That said, Capital One in it's current iteration is well-known for their "FrankenCards" that some people have been able to obtain via PCs - that's why (very) occasionally you'll see someone with a Savor Visa card. There are folks today who have a Savor card that started off as a Synchrony Walmart card (then CapOne Walmart card, then CapOne Savor) so it's not beyond the realm of possibilty that there might be an opportunity once the Discover merger takes place.

In my case the QS Visa is literally just taking up space but it's not hurting anything, either. I have nothing to lose by just leaving it alone (and giving it a keep-alive charge every six months or so) and I might have something to gain if/when the merger goes through. If the gamble doesn't pay off, I'll simply close it... no harm, no foul.

Re: How Frequently Does Capital One Reduce Credit Limits?

CYBERSAM — Mon, 17 Feb 2025 19:01:29 GMT

@Varsity_Lu wrote:
@CYBERSAM

Did you get an account review letter prior to you limit being cut?

For me they sent a letter stating a review and demanding more usage to justify the CL. However at that time they would not allow me to convert to Savor, so I closed it.