Cap One Platinum - Request a CLI or apply for new card?

[Anonymous]

Not sure if I'm in the right forum for this, but here goes:

I have a Capital One MC that I started rebuilding with last year and it appears to be on their credit steps plan.  Started with a $300 Limit, it was automatically raised to a $500 limit 5 months ago.  I've got a particular emotional attachment to it AND it doesn't have any foreign transaction fees, which is going to come in handy for a trip next month.

Since getting that card, we have gotten a few others with significant higher limits but they're either Amex/Discover (not so good in Ireland) or they have a 3% Foreign Transaction fee, so I find myself looking for a higher CLI with no fees.  From what I understand, the chances of getting a significant CLI on the Capital One MC aren't great, so should I just bite the bullet and apply for something else cold or hope for a good increase next month from Capital one?

Sitting at a 754 on the Discover Fico 8 score as of today.

Thanks Folks!

[FinStar]

I'd say try requesting a CLI once six months have elapsed from your last increase and go from there.

Also, you can check and see whether it's eligible for a PC to QS if you wish.

[FireMedic1]

Not to go against Finstar at all. You will be stuck in low CL land as long as you have that card, or even after a upgrade to QS. I'd stay away from the QS1 and the annual fee. You know as they triple pull. But as a Cap1 fan. I started just like you. I could say go for a cold app for the QS. Savor seems tough to get approved right now. Maybe Venture. But there are other cards that single pull. I went thru 2 rebuilder cards to get the remaining 3 Cap1's I have now.  I started with the Plat at 2k and now have 36k with the 3 Cap1 cards below. Its up to you. But your score if FICO your door is open for your choice on what would be beneficial with. Best of luck either way.

[Anonymous]

Thanks folks

i went ahead and cold applied for a Savor, expecting a decline and hoping for an approval. Unfortunately, I got what I expected.  Not a heartbreaker or anything, I figure it was worth a try.

Cap1 is offering a PC from the Platinum to the QS, same credit line and APR though. Not interested in putting a different wrapper on the same thing, though. With that small limit, it’s not getting much use outside of prepaying certain parts of the trip to avoid the FTF.  Once the trip is over, I suspect it’s probably going in the sock drawer in favor of the cards who actually give me something back.

In that same vein, I got a mailer today for HSBC Cash Back rewards after I got home.  I’m not at all familiar with them but it’s got what I’m looking for, including a 0% intro APR and a $150 SUB for $500 spend. Any thoughts on them?

[Anonymous]

I also started with Capital One and if you're looking for large CLIs you'll never get it from them. After 10+ years I grew my initial $500 SL with CapOne to only $8500 after fighting tooth and nail for it.

If you're looking for higher CLI in the near future, a different card would be the best bet. But if you're not in a hurry, why not build your credit reputation first before applying for a new way better rewards card? If your trip is in another month, you can probably ask for a CLI right before your trip maybe you can get between $800-$1000 total CL on your CapOne.

[FireMedic1]

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@Anonymous wrote:

Thanks folks

i went ahead and cold applied for a Savor, expecting a decline and hoping for an approval. Unfortunately, I got what I expected.  Not a heartbreaker or anything, I figure it was worth a try.

Cap1 is offering a PC from the Platinum to the QS, same credit line and APR though. Not interested in putting a different wrapper on the same thing, though. With that small limit, it’s not getting much use outside of prepaying certain parts of the trip to avoid the FTF.  Once the trip is over, I suspect it’s probably going in the sock drawer in favor of the cards who actually give me something back.

In that same vein, I got a mailer today for HSBC Cash Back rewards after I got home.  I’m not at all familiar with them but it’s got what I’m looking for, including a 0% intro APR and a $150 SUB for $500 spend. Any thoughts on them?

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Sorry about the decline. I should have led you to the C1 pre qual page. Take some time and look at what others are getting approved for. I had to stick with Cap1 in the begining since I was out of BK. Only thing that helped me get what I have is a perfect payment 4 yr truck loan that was going on when I was approved with the high limits. It's payed off now. Theres always Discover too. Check pre qual. GL!

[Civil]

have you tried to upgrade your card, No hard pull https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade

[nukelierninja]

I recently got the Bank of America Travel Rewards Card for the no FTF fees. This was after getting denied by Cap One for the Savor and the Quicksilver within 5 months due to low credit history. Bank of America gave me 1k SL which shocked me as I expected less from only 7months of Credit History. Another card my Father actually got was the HSBC Cash Rewards Card for a backup no FTF card to his QS... he got a 9k SL which was lower then he expected for a 800ish CS but he did cold app and has no history with that bank. Anyways the BoA card might be worth checking out. I too did a cold app and dont have history with the bank and had only 7months of CH under my belt at the time.

[Civil]

I am laying low on cards right now. I am looking to get a home in May, I have few things falling off my credit and 2 charge offs for about $2700 (total) I need to pay off and see if they will do a pay to delete and get it in writing. Once I get that clear I should be about 96% of getting a clean credit file. I want an AMEX blue cash, I did a prequal with Amex a month ago and nothing came up my EX: 611 now my is EX: 633 and I go a prequal offer on the site for a AMEX gold. I did not apply for it I am waiting after I get a home, but it's good to know that something comes up with I do a prequal.

[SweetCreditObsession]

You can apply for another Capital One. The card you've got the attachment to is bucketed so although your profile is much stronger, it will not grow significantly. The new tradeline would be based on your current profile and will likely have a significantly larger SL. Best wishes.