They did the opposite to me. I am stuck at your limits on the two cards I have from them as well. They sent me an email telling me to go to my account and edit my income and other info because they might want to offer me a credit line increase. I had asked them for one after having those cards for over a year a few months ago and got a decline because I didn't charge enough on them. My scores dropped after charging almost half of limit on them before, so not sure what enough is. I edited my income, which had gone up les than $100 a year at that point. Asked them again a couple of weeks later and got declined again for the same reason. Gonna just let them sit a while and use them every month or so to get my "good payment ratio" up a little and see if they ever change their minds.
@chijo wrote:They did the opposite to me. I am stuck at your limits on the two cards I have from them as well. They sent me an email telling me to go to my account and edit my income and other info because they might want to offer me a credit line increase. I had asked them for one after having those cards for over a year a few months ago and got a decline because I didn't charge enough on them. My scores dropped after charging almost half of limit on them before, so not sure what enough is. I edited my income, which had gone up les than $100 a year at that point. Asked them again a couple of weeks later and got declined again for the same reason. Gonna just let them sit a while and use them every month or so to get my "good payment ratio" up a little and see if they ever change their minds.
If I recall, they like to see consistant usage. Like using it 4 or 5 months in a row before asking for a CLI, or else they claim you don't use it enough.
I'm not sure that's true, well at least not anymore @Dalmus. I used my CapOne card for my monthly gym membership and for when I went to Costco's warehouse. I had a $31K CL after combining my Venture into my QS back when that was allowed. Last year, I received a message that they were reducing my CL to $10K (my initial QS SL) because I wasn't using anywhere near my CL. I thought this was odd, but figured it was just CapOne being CapOne. But now, I receive these emails asking me to update my income so they can determine if I qualify for a CLI. How ridiculous is that? I was using the card regularly and you cut my limit and now you want me to apply for a CLI less than a year later?
I'm currently fighting the urge to NOT sockdrawer this card now!
@Anonymous wrote:I don't understand how people can call a lender who took a shot on you when no one else would can be crap.
They gave you a chance, and they are crap because they won't do what you want because they are a financial institution and are making choices.
Capital one is known for low limits. That's their practice. It's not anything personal for you or anyone else. If you don't spend and pay off they don't want to increase because it's a liability.
I tend to agree. They are still one of the first "major" banks to grant credit after a BK that don't **bleep** you in terms of monthly and yearly fees.
Just consider them a tool. Use them as long as they are beneficial to you, then move on to a new tool that better suits your needs.
