The CEO route has been dead for sometime, they defer to whatever the computer says. A 400 to 2K is a good CLI for Cap-1
Welcome to the board!
Consistent usage and large payments are generally the key to Cap1's computerized heart. Even then, the card is likely bucketed and may never experience growth to the 2k point, unfortunately. Technically opening a S1 and PCing is an option, as long as you feel confident in a higher approval from them this time around. I saw an approval for a VentureOne for $300 fairly recently, which leads me to believe they may start the SavorOne out that low now too? I'm pretty sure the regular Savor still carries a minimum approval of $2,000 (and a $300 SUB) but there have been almost no recent DPs on Savor approvals. Maybe do a little research and look elsewhere for a no FTF flat rate CB earning card. I know the QS is a pretty decent card for that purpose, but 3 HPs and the possibility of a denial or another low limit bucketed Cap1 card is a tall asking price.
Capital one is kind of horrible when it comes to CLI on their basic cards. I have a quicksilver card (used to be platinum) that I have about 14 years, I had a starting CL of $300 and it is now $3,500...after 14 years. I actually just applied for a CLI and got denied, my Fico's are 745-762 and my current Util is under 3%, I also have no missed payments on that card.
I am thinking about contacting them for a PC to a card that I might feel compelled to use, however at this point I think capital one is beat out in rewards by pretty much every other major issuer. If you do want to stick with Cap one the Venture One card is probably the best bet with no annual Fee.
If you are set on a no AF card, the discover it miles card is probably a better card to hold that the Cap one venture.
If you plan on doing any significant amount of travel, some of the annual fee cards (even the higher ones) can provide you with very lucrative rewards that are completely worth it.
@Anonymous Why not just keep the hypothetical Savor One instead of PC-ing it? It's also a no-AF no-FTF card. When traveling a significant amount is spent on dining, where the Savor One earns 3%.
There are also other options like the PayPal Mastercard for a flat 2% back with no AF or FTF.
@SDMarik wrote:Capital one is kind of horrible when it comes to CLI on their basic cards. I have a quicksilver card (used to be platinum) that I have about 14 years, I had a starting CL of $300 and it is now $3,500...after 14 years. I actually just applied for a CLI and got denied, my Fico's are 745-762 and my current Util is under 3%, I also have no missed payments on that card.
@Anonymous I am in the exact same boat as SDMarik, my CapOne is my oldest account, it was originally a platinum card with a $39 AF. Had that card for years and PC'd to a QS1 to save the AF. The platinum card started out low, I can't remember exactly either $500 or $1,000. Fast forward 13 years and I'm stuck at $3,500, high 700's Fico scores, low utilization, no missed payments, no derogs. I have not been able to get any CLI love in 5-6 years on this card no matter if I use the card, or if I don't use it seems to not make any difference.
IMHO CapOne just isn't the bank if you're looking for a higher CL.
If you've had your card for 10 months, not sure what your scores or DP's are, but since you said you're not rebuilding and I'm assuming you have good scores I would look at some other companies. When I think of options comparable to the QS1, the PenFed Power Cash Rewards Visa comes to mind, no FTF, no AF, cash back is 1.5% unless you qualify for the 2%.
You have to join PenFed credit union to be eligible for the card, but that's not a con in my opinion, a good credit union can be an invaluable resource.
Also, if you're military or veteran (or immediate family of a veteran), Navy Federal is another great option, cashRewards Visa also is 1.5% cash back with no AF and no FTF.
Either way you go, with another bank or credit union, I would pass on trying to app for another CapOne card as it was mentioned above, they will be a 3 hard pull to all bureaus with no guarantee that you'll get a higher limit on a 2nd card. Plus, CapOne can be quick to decrease your limits as the weather changes.
Not a lost cause but significant increases with Cap One seem rare. I was shocked just last week from Cap 1 with an increase from 1k to 4K which I didn't ask for. At the beginning of December I had 55 percent overall utilization and 85 percent on the Cap1 Quicksilver. It also started in 2015 as a $300 CL platinum card that was product changed in 2017 to a Quicksilver. I haven't asked for an increase since I was denied in 2017
im thinking this increase had something to do with big changes in my profile. PFD on one collection and paid off the 2nd one. Paid off all cards but this one and left the balance at 10. Have achieved AZEO with 1 reporting out of 15 cards
Here's the data on this card
December 7th statement. 878 balance 1000 CL
Jan 7th. $15 balance 55 purchases. Paid down 919
Feb 4th. $0 balance. 251 purchases
Mar 6th. $38 balance. 93 purchases
April 7th. $10 balance. $557 purchases
May. $10 balance. 582 purchases. 99 credit issued.
I had heard on this forum that you need to pump transactions through in the 40 to 60 percent range to have a chance at an increase.
I also have a Quicksilver One but did not get an increase on it yet. I'd like to PC this one to something with no annual fee.
I'd try pumping transactions through it for a couple months and request a CLI. Not sure you can increase it to 2000 quickly. Depends on other factors with your profile.
FWIW I have a capital one that started life as a $300 platinum with scores in the mid 500s. I've used it extensively over the past 5 years or so and rebuilt my credit into the 720-730 range. It's currently sitting at $7750. Funnily enough I opened a quicksilver one after my credit got a bit better and that is stuck at $600 after 3 years. So who knows with capital one.
