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I have the walmart store card I read that customers with the card and have transitioned over to capital when applying for a credit limit increase a lot of people were denied because of accounts moving over to them. Has anyone been sucessful with an increase yet?
Cap1 runs the show now. So CLI's go by their internal records on you and the decision to approve or not. Cap1 has been stingy lately. They arent like Sync. Good luck. You can always ask its a SP.
@Zeno wrote:
When I first was approved my limit was $1100 then it became $260 once paid off. I never asked for a credit limit increase back when it was under Synchrony because I was told that credit limit increase request would impact my credit. I finally tried Capital one credit limit increase again and only received $250 increase which credit limit is $510 now.
You are the first I have heard of getting a Cap1 WM CLI. Perhaps due to your AA.
All of my requests have been meant with language similar to "this account isn't eligible for increases."
I got 1K increase froom 6k to 7K after couple of tries.
@Zeno wrote:
When I first was approved my limit was $1100 then it became $260 once paid off. I never asked for a credit limit increase back when it was under Synchrony because I was told that credit limit increase request would impact my credit. I finally tried Capital one credit limit increase again and only received $250 increase which credit limit is $510 now.
this...is scary. i first heard about balance chasing on this board a few days ago. i knew that some cc companies drop your limit if you don't use the card a lot, but dropping after paying it down sounds horrible if you care about your credit and are actually PAYING your bills. do you know if they had a legitimate reason for lowering your limit? ![]()
"I wonder how often they offer credit limit increase"
it's on the site (capital 1) somewhere. use the search bar and look for credit limit increase. it gives you a big list of reasons that you may be declined, along with how often that auto-review your account, which is every 6 months iirc. from what i understand, you don't have to ask since it's an auto-review. that's how i've gotten the 1 cli on my then-platinum card.