topic Re: capital one limit increase in Credit Cards

capital one limit increase

Anonymous — Mon, 12 Mar 2012 20:52:09 GMT

I went from 300 to 1300. Now my question with the increase can this help my credit score as well? Thanks for youre time

Re: capital one limit increase

Anonymous — Mon, 12 Mar 2012 20:58:17 GMT

It depends. The short answer is yes. Depending on how you received the CLI, you may get a hard inquiry which will lower your score. But the CLI will decrease your overall utilization substantially which will give you a significant boost.

Re: capital one limit increase

SwiftTone — Mon, 12 Mar 2012 20:59:08 GMT

Yes. If your balance stays the same, it will lower your utilization which in turn increases credit score.

Re: capital one limit increase

Anonymous — Mon, 12 Mar 2012 21:33:29 GMT

@Anonymous wrote:
I went from 300 to 1300. Now my question with the increase can this help my credit score as well? Thanks for youre time

Whoa! That's a nice increase from Cap1! Congrats!

To answer your question, yes, it can. It all depends upon your utilization. You now have $1000 worth of additional credit, so you've got more wiggle room with your reported balances.

For instance, if you still had the $300 CL and you allowed $100 to report, you'd be at 33% util. But, with a $1300 CL, if you allow that same $100 to report you'd be at < 10% util. Since util is a major factor for your scores, the larger CL can be a good thing.

Once again, congrats.

(Edited for typo)

Re: capital one limit increase

LS2982 — Mon, 12 Mar 2012 21:01:30 GMT

@Anonymous wrote:
I went from 300 to 1300. Now my question with the increase can this help my credit score as well? Thanks for youre time

Very nice!!! Congrats!!!

This is definitely a time for a HAPPY DANCE!!! a 1K CLI from Cap1!?!?! Awesome!!!

Re: capital one limit increase

pastnow123 — Mon, 12 Mar 2012 21:31:25 GMT

supprize this is come from Cap one. It depends on your total CL. The higher CL you have, the less helpful it's on the overall utilizaiton, and thus the credit score.

Re: capital one limit increase

daveg38 — Mon, 12 Mar 2012 21:38:01 GMT

My wallet will fall apart before they give me a bigger line...

Re: capital one limit increase

LS2982 — Mon, 12 Mar 2012 21:39:48 GMT

@daveg38 wrote:
My wallet will fall apart before they give me a bigger line...

Re: capital one limit increase

Anonymous — Mon, 12 Mar 2012 22:39:40 GMT

Thanks guys. I guess geting an increase from capital one doesn't happen alot. Right now my balance is 168 and I usually pay about 30 bucks a month on it

Re: capital one limit increase

bbb3601 — Mon, 12 Mar 2012 22:41:28 GMT

my card will disenegrate before they ever give me an increase, but kudos to you!!!!!!!!1

Re: capital one limit increase

LS2982 — Mon, 12 Mar 2012 22:44:58 GMT

@Anonymous wrote:
Thanks guys. I guess geting an increase from capital one doesn't happen alot. Right now my balance is 168 and I usually pay about 30 bucks a month on it

That's an understatement!!

Re: capital one limit increase

laboi_22 — Mon, 12 Mar 2012 22:47:45 GMT

@Anonymous wrote:
Thanks guys. I guess geting an increase from capital one doesn't happen alot. Right now my balance is 168 and I usually pay about 30 bucks a month on it

There is the key right there. I have found that after a long history with Cap 1, if you carry a balance and make on time payments, they will increase your limit. Cap 1 is only after people that will carry balances. They make their money off of AFs and sky high interest. I refuse to carry a balance. Using each month and PIF is not what will get you an increase.

Re: capital one limit increase

bbb3601 — Mon, 12 Mar 2012 22:55:45 GMT

Until I found this site I never would PIF averaged 82% uti with cap1 for 26 months.........never a penny increase. Paid it off and haven't used them since Jan. They must hate me!! lol

Re: capital one limit increase

Mike360 — Mon, 12 Mar 2012 22:57:29 GMT

I can't believe i seen capital one and limit increase in the same sentence.

Re: capital one limit increase

max2mum — Mon, 12 Mar 2012 23:13:05 GMT

Congrats

Re: capital one limit increase

bichonmom — Mon, 12 Mar 2012 23:32:43 GMT

You seem to have managed the near impossible w/Cap One. Congrats! I got a $2k CLI on a visa and my score didn't change at all. However, since you're carrying a balance, it will help your util a bit. So you'll probably see a small score increase.

Re: capital one limit increase

Ridbidge — Mon, 12 Mar 2012 23:59:08 GMT

@Mike360 wrote:
I can't believe i seen capital one and limit increase in the same sentence.

Gee I thought "Does capital one EVER give credit limit increases?" or "Has ANYONE ever been given a credit limit increase from capital one?" were two of the most searched for phrases here! hehehe

Re: capital one limit increase

the_jan_b — Tue, 13 Mar 2012 00:10:00 GMT

@Mike360 wrote:
I can't believe i seen capital one and limit increase in the same sentence.

I agree! *while picking myself up off the floor*

Re: capital one limit increase

Anonymous — Tue, 13 Mar 2012 00:11:16 GMT

Congrats on the rare CLI from Cap One! Did you request it or was it auto?

Re: capital one limit increase

Anonymous — Tue, 13 Mar 2012 01:11:42 GMT

No I didn't request it .was did automatic.