Capital One Platinum Approval

Anonymous · ‎03-08-2017

Cant believe i actually got approved!!! I tried their pre-qualification site and they recomended the Plat and QS. I got approved for a 300.00 CL. The CL seems so small and im shocked they even approved me at all. Is the 300.00 CL typical or someone who is in the beginning stages of rebuilding?

Chris679 · ‎03-08-2017

Likely their credit steps program.

Anonymous · ‎03-08-2017

Congrats. Every 6 months ask if they don't give you a cli. They may offer you a second card in a few weeks perhaps a QS one.

MrsCHX · ‎03-08-2017

Congrats! And yes, $300 is the typical starting limit!

For many of us who rebuilt using Capital One, you are able to request a CLI in a couple months - try after your 2nd or 3rd statement. At your 6th month (or 6th statement), your Credit Steps increase will kick in. They'll probably send you an email saying you'll be bumped up to $500 after 6 months. But it can be -and often is- more than that.

My data point with Cap One was $300 to $800 (month 3) to $1,300 (month 6)

After that, you can request a credit limit increase every 6 months.

Capital One Savor: $6,000; PenFed Power Cash Rewards: $3,500; Nordstrom Visa: $3,300; PenFed Gold: $2,500; Capital One: $2,500; Mission Lane: $2,500; Credit One: $2,000;
Store Cards: Kohls $2,500; Home Depot: $1,000; Target: $900; LOFT: $700; Amazon: $350

kidink1911 · ‎03-08-2017

Congratulations and welcome to the Capital One family!!

PERSONAL: AMEX Platinum- NPSL / AMEX Gold- NPSL / Macy's AMEX Card- $4,500 / SavorOne- $500 / PenFed Gold Visa- $5,000 / Venmo Visa - $20,000 / PayPal MC- $20,000 / PayPal Credit- $1,700 / NFCU Visa Signature cashRewards- $5,800 / AMEX Delta Platinum- $4,200 / NFCU More Rewards AMEX- $3,400 / NFCU Cash Rewards- $4,000 / Credit One Platinum Visa Rewards- $1,000 / Discover IT Chrome- $1,000 / Capital One Venture- $3,550 / AMEX Cash Magnet Card- $1,000 / Belk MC Card- $800 / Citi Shell Mastercard- $400 / Credit One AMEX- $800 / Capital One Spark- $700 / Capital One Platinum- $300 / Citibank Shell- $400 / Oportun Visa- $500 / Fifth Third Bank MC- $300
BUSINESS: American Express Business Platinum- NPSL / AMEX Hilton Honors Business Card- $3,000 / AMEX Delta Platinum Business Card- $3,000 / Marriott Bonvoy Business Card- $3,000 / American Express Business Gold- NPSL / American Express Business Green- NPSL / Sam's Club Business Mastercard- $20,000 / Floor and Decor Pro Premier Business- $20,000 / Phillips 66-Conoco-76 Business Gas Card- $5,000 / Walmart Community Credit Line- $5,000 / Fuelman Mastercard- $3,000 / Amazon Synchrony Business Credit Line- $5,000 / Lowe's Business Credit- $5,000 / Office Depot Commercial Credit- $2,500 / Tractor Supply Company Business- $1,500 / Citi Exxon/Mobil Business Gas Card- $3,000 / Speedway Business Mastercard- $4,500

Anonymous · ‎03-08-2017

was it unwise of me to just ask for the Plat instead of the QS?

creditguy · ‎03-08-2017

Congrats on your approval, though the SL may seem small it can definitely grow to a nice CL and lead to better SL's down the road. For your future approvals you may want to consider posting in the approvals section of the forum. Once again congrats on your approval.

creditguy · ‎03-08-2017

@Anonymous wrote:
was it unwise of me to just ask for the Plat instead of the QS?

Not at all, your better off starting with a non AF card and working your way up. In a few months app for the QS1 if you like.

fritscher · ‎03-08-2017

about 6 years ago I got the capital one platinum.. I started at i think 500 and now it is up to 2500 and is upgraded to quicksilver..They did do regular credit line increases.congrats to you!!!!!

Anonymous · ‎03-08-2017

@Anonymous wrote:
was it unwise of me to just ask for the Plat instead of the QS?

Congratulations on your new Platinum Card! It is fine that you applied for the Platinum.

If you want rewards on the card, others have had success product changing (upgrading) their Platinum cards to the regular Quicksilver card (no-annual). Some have been able to do it in a couple months, others three months, others 6 months, etc. You would just constantly check with Cap 1 customer service to see if your card is eligible for the upgrade. Once you upgrade, your account number, account age, etc. all stay the same. You simply will have a card that now carries 1.5% cashback and no annual fee.

Also, if you want to apply for a second Cap 1 card, you must wait six months from the approval date of your Platinum. But many, including myself, have apped for and received a second and (what we may consider an) upgraded product from Cap 1.

Good luck on your re-build and keep up the good work.