topic Re: Capital One Credit Card in Credit Cards

Capital One Credit Card

FIRECOURAGE — Mon, 01 Mar 2010 23:01:24 GMT

Just got approved $500 limit for a Capital One credit card. How long does it take to get an increase on this card?

Re: Capital One Credit Card

DI — Mon, 01 Mar 2010 23:02:10 GMT

@FIRECOURAGE wrote:
Just got approved $500 limit for a Capital One credit card. How long does it take to get an increase on this card?

Unless you're part of the credit step program it may take years. How strong is your credit?

Re: Capital One Credit Card

FIRECOURAGE — Mon, 01 Mar 2010 23:12:11 GMT

Yep. The guy did say it was the credit step program

Re: Capital One Credit Card

DI — Mon, 01 Mar 2010 23:17:39 GMT

@FIRECOURAGE wrote:
Yep. The guy did say it was the credit step program

You may get an increase every six months. Congrats for not being stuck with a no builder card.

Re: Capital One Credit Card

FIRECOURAGE — Mon, 01 Mar 2010 23:23:54 GMT

Cool. Thanks.

Re: Capital One Credit Card

Gibran — Mon, 01 Mar 2010 23:58:53 GMT

Congrats!!

I also have a Cap One card and it's a credit step card, I got a CLI after the 3rd billing cycle.

Re: Capital One Credit Card

FIRECOURAGE — Tue, 02 Mar 2010 00:07:31 GMT

Thats good news! Hope it works like that for me! If you dont mind me asking... Did you hold a balance on the card and how much of an increase was it?

Message Edited by FIRECOURAGE on 03-01-2010 06:07 PM

Re: Capital One Credit Card

Anonymous — Tue, 02 Mar 2010 00:31:17 GMT

well from my experience with capital one's credit steps u get 2 increases 1 every three month for $500 automatically until u reach $1500CL then its capped...smh but its useful for building credit.

Re: Capital One Credit Card

FIRECOURAGE — Tue, 02 Mar 2010 00:35:11 GMT

Ok. Thanks alot for the info Achase.

Re: Capital One Credit Card

Gibran — Tue, 02 Mar 2010 01:28:02 GMT

Had a $100 balance on the card when I got the increase, it was for $250, my CL is now $750

Re: Capital One Credit Card

homerunstacy — Tue, 02 Mar 2010 02:54:40 GMT

I never had an automatic increase on my Cap 1 and I've had it for many years. Same 500 CL with a rate @ 11.9%

I think the only thing I charge on it is scorewatch =)

Re: Capital One Credit Card

michaels88369 — Tue, 02 Mar 2010 06:24:10 GMT

My Fiancee has had her card for just about 3 years now and still no increase. She still has the $300 limit, and 4.9% apr. I have had my card now for 5 months with $1000 limit and no increase either. Ive called capital one for both of our accounts and they said they only increase "certain peoples" cards during periodic reviews. What a load of junk. lol.. I wonder if we will ever get credit limit increases.

Re: Capital One Credit Card

Anonymous — Tue, 02 Mar 2010 15:02:57 GMT

they are really strange.

I had a starter 300 cl card and then one day they sent me a card with 3500 cl.

I combined them and now 8 years later I have a cash rewards card with 5400 cl

and they just went to 17.9 interest and a/f of 49.00. REALLY STRANGE!!!!!

Re: Capital One Credit Card

Anonymous — Tue, 02 Mar 2010 18:11:21 GMT

When I got my Capital One a few years ago, it had a $1,000 limit. Each year, I had an automatic increase of $1,000 each year until it got to $4,000.

Re: Capital One Credit Card

Anonymous — Tue, 02 Mar 2010 18:20:48 GMT

homerunstacy wrote:
I never had an automatic increase on my Cap 1 and I've had it for many years. Same 500 CL with a rate @ 11.9%
I think the only thing I charge on it is scorewatch =)

Some of the Cap1 cards are dead-end rebuilders (not all of their rebuilders are frozen, but some are). If it's one of those, it'll never be eligible for an increase. Sometimes, albeit rarely, they'll tell you that you've got a never-gonna-get-an-increase card. Most times, they don't say a word, or hint at your applying for a new card.

One thing that's probably important for all cards and all lenders, as we traverse the new financial landscape, is that you need to justify your need for new or additional credit. If you've got a card SD'd, or partially SD'd with only a small recurring charge that's a miniscule percent of the credit limit, you're going to have a difficult time making the case that you~~'re going to be profitable for the lender~~ need a credit limit increase.

Re: Capital One Credit Card

michaels88369 — Thu, 04 Mar 2010 06:28:57 GMT

I just wish they would increase our cards. We have a cc each through them and an auto loan as well. No late ever and always pay on time.

Re: Capital One Credit Card

Anonymous — Thu, 04 Mar 2010 14:13:06 GMT

i think my credit steps card will remain at 1500 forever. Been a year and a half now.

Re: Capital One Credit Card

DI — Thu, 04 Mar 2010 14:49:33 GMT

@michaels88369 wrote:
I just wish they would increase our cards. We have a cc each through them and an auto loan as well. No late ever and always pay on time.

I finally stop asking for a CLI with Cap One more than a month ago. I just focus on my other 10 cards for increases.

Re: Capital One Credit Card

Anonymous — Thu, 04 Mar 2010 15:51:18 GMT

Hi everyone,

I was wondering how likely it would be for me to get a cap one card. A little bit of background information... in the midst of the economic crisis (march 2009) cap one closed my cap one plat card due to inactivity. I had a 3000.00 limit and i never was late or had never gone near the limit I also did not owe them anything when they closed the card. When it was closed they stated that since i had not used the card and due to the horrible economy they were closing inactive cards (this was in the letter they sent me).

Well i was a bit bummed but since i didn't see myself using the card I didn't call to try and keep it open. Now I really would like to have a cap one since my husband and i are going out of the country for summer vacation and i heard cap one is the only card that doesn't charge a foreign transaction fee.

So should i just try a cold app or do you think it would be better to give them a call?

Re: Capital One Credit Card

hawkeye33 — Thu, 04 Mar 2010 16:30:59 GMT

I believe the credit steps program always entails two increases (for me, it was after the first 3 billing cylcles and then again after the 6th or 7th billing cycle). I'm not sure if the amounts are always $500 increases. However, the card I got from them started at $3K, and after the credit steps, it was at $4K. I haven't pursued any additional increases since then.

@Anonymous wrote:
well from my experience with capital one's credit steps u get 2 increases 1 every three month for $500 automatically until u reach $1500CL then its capped...smh but its useful for building credit.