I have a Capital One card with a $10K limit that I'd like to boost. I've had the card maybe six months, charged about $40 on it once and paid it off that month. I could start using it more, but I was wondering if there's maybe a backdoor number for them? I got a backdoor increase with Lowes (Synchrony) by calling and saying that I was buying a house soon and wanted to do some improvements. I asked for $20K and they upped me from $800 to $17K! I was just thinking that maybe if I could talk to a live person at Capital One and give them the same story that it might hold more sway than just clicking a button online.
@redpat wrote:Is that your only CC in your sig?
How do you pay for gas, groceries, or anything else?
Please don't say debit card, lol,
I have a part time gig in a clothing store and I swear, I cringe every time I see a debit card because that particular brand has a GREAT rewards credit card with 5% cash back. Using a debit card in most cases is giving away money.
Gardening since 12/15/2019. Goal 12/15/2021
@FinStar wrote:OP, putting $40 in a six month span on your $10K CL isn't going to sway Capital One into giving you anything higher, they have no incentive to CLI given your past usage.
I did little more than that with the Lowes card and they gave me a $17K limit because I told them I was planning major home renovations-that's why I was asking about a backdoor. No big deal, just wanted to find out.
@lindsaydruart wrote:
@redpat wrote:Is that your only CC in your sig?
How do you pay for gas, groceries, or anything else?
Please don't say debit card, lol,
I have a part time gig in a clothing store and I swear, I cringe every time I see a debit card because that particular brand has a GREAT rewards credit card with 5% cash back. Using a debit card in most cases is giving away money.
Debit or cash for everything. My wife and I went through a bankruptcy in 2012 due to job loss and a very sick child/medical bills. We are attempting to rebuild credit. I don't really care about rewards programs/cash back, etc...just reestablishing credit, hence my desire to obtain cards with high limits and little/no balance. Two years post-BK my credit was at about 680. After obtaining the Lowes card ($800 limit to start) and the Captial One card my scores shot to 702-712. I'm hoping that when the Lowes CLI posts I'll get enough of a boost to apply for another card.
Here's the error in that. If you are using cash for everything why do you want credit? You aren't going to get credit if you aren't using it. The reason so many people end up in debt with credit cards is that they view credit cards like additional income and end up floating money on them while robbing Peter to pay Paul. If you focus on not spending more than you have in income at any given time, you'll never carry a high balance and you can still use the cards to build credit relationships with the company. Otherwise, there's no point in any company giving you credit you aren't going to use. They will gladly give it to someone that can show that they can responsibly handle credit instead of sitting on it because they don't have discipline.
@lindsaydruart wrote:Here's the error in that. If you are using cash for everything why do you want credit? You aren't going to get credit if you aren't using it. The reason so many people end up in debt with credit cards is that they view credit cards like additional income and end up floating money on them while robbing Peter to pay Paul. If you focus on not spending more than you have in income at any given time, you'll never carry a high balance and you can still use the cards to build credit relationships with the company. Otherwise, there's no point in any company giving you credit you aren't going to use. They will gladly give it to someone that can show that they can responsibly handle credit instead of sitting on it because they don't have discipline.
I think you're misunderstanding me here. I have nothing against using credit cards-I just use cash/debit because it's easy. I can simply log into my online banking and track all my spending instead of having to sift through multiple statements. The only thing we really need credit for is a mortgage (we're planning on buying a home within the next 12-18 months) and possibly a car loan. I'm just trying to use the cards to get our scores back up to where they need to be. I suppose what I should do is dedicate one card to buying gas, another to groceries, etc...to show some usage.