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Capital One Credit Limit Increase

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Valued Contributor

Re: Capital One Credit Limit Increase

If your bank allows payments from your checking account you could send it that way.  I have a Household Master Card and I sent a payment, before I even owed on my account.

It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.
Message 51 of 60
Senior Contributor

Re: Capital One Credit Limit Increase

This seems like an old thread but has anyone has success with the capital 1 automated operator for a cli?

Message 52 of 60
Contributor

Re: Capital One Credit Limit Increase

I'm not sure about automated operator, but I requested CLI last month. They HP all 3 CRA, and said they don't give out CLI per request. What a stupid idea to not giving out and still HP.  I'm so mad at them, now I won't bother asking. Gonna stick with my Freedom

AmEx Blue Cash Everyday - $1,100 - need CLI or will close
BankAmerica Cash Rewards - $10,000
Chase Freedom - $10,000
Chase Sapphire Preferred - $5,000
Chase Ink Bold - $5,000
Citi Platinum Select - $2,600
Discover More - $4,000
Message 53 of 60
Valued Contributor

Re: Capital One Credit Limit Increase


@john398 wrote:

This seems like an old thread but has anyone has success with the capital 1 automated operator for a cli?


I don't think there is any way to get them to approve a CLI unless you are a prime account holder.  Many forums seem to indicate this.  If you started with one of their subprime cards, get rid of it as soon as you next annual fee occurs.  They are great for building and great for prime cardholders, but that is about it.  You can get multiple accounts with them.  I have 2 (and now a Household one that will be converted.) and after 2 years with them no increase from the initial increase.  (Capone gives all card users in their program a CLI after 3-6 payments, this depends on what terms they have when you open it.)  After that it appears that they don't give increases.  You will hear stories about getting an increase, but those tend to be rare. 

 

I warned them that if they did not give an increase and make the account into a rewards card that I would close it.  I gave them 9 months notice, to insure that if my account was ever selected for review then they would know it.  (They say that they will read the notes if the account is selected for review.)  I asked about a CLI before closing it and asked for it to be converted into a rewards card.  They said no, I said close it.  They did.  They did not offer a CLI upon threat or upon closing.  (I guess some have been offered upon closing.  Additionally, some also seem to get letters or emails asking them to reopen the card under better terms.  As of yet I have not.) 

 

It is rumored that if you open another account with another company with a higher limit they will then raise your limit and start to treat you better.  I just saw the new account posted on my Bureau today, so we will see if that happens or not, remember I do have another card with them.  When they notice it, maybe the remaining account will then get the credit limit increase.  I closed the first account for more than one reason.  I close it to see if they offer me a better deal, as of yet no.  I also closed it in case they raise my limit when they notice the new account, which is 5 times their credit limit, would be the one most likely to get a limit increase.  The other account has rewards.  If they decided to raise either limit I would rather they have to raise the one with rewards. 

 

Let me tell you the effects on the credit score.  It dropped 7 points from the closing of the old Capone account.  This reflects some points for the change in utilization and from the closing.  (It will still report to the bureau as a good account and that is good, just not as good.)  The new account increased my credit score 20 points.  I don't think more than a point or two of this had to do with utilization, as that remained pretty much the same.  Part of your score is about credit limits, since this higher limit is now on the bureau it reports a positive impact to the score. 

 

Basically, in the short term it will allow me to get higher limits with other companies as my score increases.  I will use the account to buy a few large ticket items that I have the cash to pay for and then pay it after it reports to the bureau.  This will show to lenders that I can charge it up and pay it off and is a bit useful in obtaining higher limit cards.  They will show the high usage and some lenders do use that and credit limits to help determine what limits to give.

 

Remember, you can always ask Capone if there are any offers on your account.  They had an offer to lower my interest rate for 6 months.  I took the offer only for one reason; so they know I will take offers for my account.  Maybe, they will at some point make more offers!?!  (I hope, but don't hold my breath.)

 

They don't seem to up limits for certain categories of cards.

It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.
Message 54 of 60
Super Contributor

Re: Capital One Credit Limit Increase


@bernhardtra wrote:

@john398 wrote:

This seems like an old thread but has anyone has success with the capital 1 automated operator for a cli?


I don't think there is any way to get them to approve a CLI unless you are a prime account holder. 


This. Not only if you're a prime account holder, but they'll extend more offers to you if you start off with higher limits (even on their "average credit" cards. If you start at the initial ceiling ($3000) or close to it they'll help you more. They PCd me from platinum to cash rewards after having the account for 25 days, no CLI though, but that's fine. lol. 

Message 55 of 60
Member

Re: Capital One Credit Limit Increase

I just tried yesterday with the student Journey card and was denied. I even called in and threatened to cancel due to the poor rewards and the fact that I never use the card but all I was offered was 15% APR for 7 months which wouldn't really help considering I don't carry balances. I also asked for a product change but I was told they couldn't do it. I'll just keep it for it's age (1 year) and use the "free monee" I get from the deals program. 

Message 56 of 60
Super Contributor

Re: Capital One Credit Limit Increase


@juicycook93 wrote:

I just tried yesterday with the student Journey card and was denied. I even called in and threatened to cancel due to the poor rewards and the fact that I never use the card but all I was offered was 15% APR for 7 months which wouldn't really help considering I don't carry balances. I also asked for a product change but I was told they couldn't do it. I'll just keep it for it's age (1 year) and use the "free monee" I get from the deals program. 


taanstafl

Message 57 of 60
Regular Contributor

Re: Capital One Credit Limit Increase

I have mixed feelings about Cap One. On one hand, I appreciate them giving me a card when no one else would....but I don't like the fact that I've had the card since March 2011 and I only have a 500 CL. Started at 300 and then around September 2011 increased to 500. But has been stuck ever since. I tried in May of this year to get a CLI through the automated system and was denied and got a letter saying they periodically review accounts and issue increases at their discretion. BOOOO!!! I've used my card every month, usually charge around 175-200 on it and I PIF every month. Never been late. Never even been close to the 500 limit. I just wanted the CLI for my util to boost my score just a tiny bit cause I'm in the middle of buying a house and every point helps Smiley Happy but after I close on my house, I will hopefully be able to get a CC with a bigger CL. I'll SD Cap One and use it randomly just because, like I said earlier, I appreciate them giving me a card when no one else would and helping me to rebuild. Plus, it will help my AAoA in the long run to keep it Smiley Happy
Message 58 of 60
Super Contributor

Re: Capital One Credit Limit Increase

That's what capital one does (with their non-prime cards). They're there for you to build with, and then you move on, and they hope that since they helped you, you will eventually become their prime cardholders. 

Message 59 of 60
Highlighted
New Contributor

Re: Capital One Credit Limit Increase

So I took a few suggestions to call or email the Executive Office. I opted to email Mr. Fairbanks CEO (You can google and get his email address as I am not allowed to post his email on this forum). A little back story:

 

This is my oldest card, I had it since freshman year of college with a starting credit line of $1000. They auto increased my limit to a total of $1500 about 5 years ago. Since I have a total of 9 credit cards with avg CL of $10,000 with various perks and reward,s I haven't used this card for a couple years. I only purchase small items from time to time so they won't close it. Since having a long credit history is one of the contingencies on maintaining a high credit score I  decided not to close it. I have called many times to try to get a CLI or at least a product change but they have gave me no legitimate excuse as to why they could not honor any of those requests over the past 8 to 10 years. So after much research emailing Mr Fairbanks seemed like the only option. I emailed him explaining my frustration and what I subtly demanded. I got a call the next day from the Executive Office. They wanted to confirm what I requested and would see if their underwriters can grant me my requests which is a CLI from $1500 to $10,000 and get rewards of some kind. They told me it would take a few days to review my request and that they would get back to me next week. I got the call today and they told me that they would be able to grant my requests, and they were very nice about it. Success!! 

 

Just some other side notes, they did not pull a hard inquiry, only a soft pull. My credit score is in the mid 700 range and I currently do not hold any high balances. Good luck!!

Message 60 of 60
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