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So I messed up. I applied and was approved for a Capital One Platinum card. However, I think I applied too soon. My Discover card just graduated last week after 7 months with a $2k credit limit increase. However, that isn't reflected on my credit report. It's still showing as a $200 secured card. Therefore Cap One only approved me for a $300 limit. My Fico 8 TU score is 738 and my Experian is 702. I have no derogatories on my report, the only thing there is just the Discover card and I wanted a second card to boost my score since my credit history is limitless. Should I just wait six months and ask for a CLI or should I wait until my credit report reflects the new Discover graduation and call and ask for a CLI increase? I wanna make the hard pull worth it and not have another card that I'm maxing out and paying down once a week.
Nope, no mistake. That's cap1. There's no recon on anything either. Your score doesn't matter because your file is too thin. If you want it to grow, use it heavily. If you are using it enough, you should be able to get an increase at the 6 month mark. Also, around the 3 or 4 month mark, try to upgrade the card to a Quicksilver so you're getting rewards.

That's Cap One. Especially on first card with them. Did you receive the Credit Steps language when you applied?
The great part about Cap1 is you can ask for a CLI as often as you like and it's a SP each time. As it's likely been stated, Cap1 typically puts credit lines in the range you've been assigned on the credit steps program and Cap1 loves to see heavy usage AND large (greater than minimum) payments made each month or even the same and multiples each month. Other than the credit steps program, I wouldn't expect much in the way of CLI unless all the following have been satisfied:
1) Heavy usage and payments in the last 3-6 months (typically over half CL utilized and paid each month)
2) No derogatory/no new derogatory since account opening (with Cap1 or otherwise)
3) Sufficient DTI ratio
4) No or very few inquiries in the last 12 months (theirs included)
I hope this helps and good luck on establisihing your credit!
Congrats on your approval, Sorry for the low limit .. possibly credit steps as another poster mentioned.
Congrats on the Discover graduation! I am sorry for the low limit. The wise folks above have already mentioned the best steps to take regarding the cli with the Platinum card. I would wait three months and then search for the upgrade link on here that allows you to product change the Platinum to the no annual fee Quicksilver.
Now would be a good time to really consider what you want in your next card. In 3-6 months you can apply for your next one with a hopefully more generous limit. You should check Chase and AMEX prequals in the meantime. I might be wrong but I don't think AMEX minds thin files too much.
Trust me I know how annoying it is to make multiple payments when you are stuck with a low limit. Good luck
Grats on the approval, but there's no mistake sadly. The Platinum is an entry level card with typically low SLs. Even if your increased Discover limit had reported already, it wouldn't make a difference as far as what Cap One would've extended you.
I think so. Is that where you can get your score?
I think you are confusing credit steps with creditwise which is Capital One's vantage credit score based on your TransUnion report. Credit steps refers to a plan with some languange like "make on time payments for X months and we will increase your credit limit." The amount of that increase varies and it can be difficult to get another one after that.
Some people manage to grow their limits further but that is rare and usually you hit a cap which you end up at till you apply for another card.
Not all "starter" cards like this are "bucketed"
My card started off on the credit steps program and is now a World Elite MasterCard with an $11,200 credit line...not bragging, just trying to give hope to others.