Any Captial one card holders?

after 6 months most credit cards will give you a cri if you don't miss payments and are responsible (dont go over the limit, etc...)

If 500 is not enough, be carefull not to get the usage of the card up too high. Having a high cc balance will tank your score.

I have a card with a 6k limit becasue I usually have about 200 on there. With my orchard card, that was like 66% with the higher limit it's like 3 or 4% so its better for my score.

Use the 500 card for 100 or 200 a cycle and try to pay it off early every month leaving 10 or 20 bucks on it.

If you do this you'll get a cri soon.

 

As the previous poster indicated, they'll likely increase it after 6 months or so, but probably not right away. They're also right-on about a high balance affecting your score.

Another complaint which has been voiced about Capital One is that they sometimes won't report your credit limit. This can hurt your score for the same reason....it's been suggested that they do this deliberately to lower your score and thus make you less likely to get offers from their competitors.

You say that it is "barely enough"....can you clarify? If you are seeking to make a lot of big-money purchases, you might want to evaluate to ensure that you're not operating above your means. The path to the dark side of credit, that is.

If you're looking to further build your credit by establishing more accounts, though, it's likely that you'd also qualify with Orchard Bank. Usually you'll have an annual fee, but not a whole slew of other activation charges.

 

I had a Cap 1 card with a 500 limit. After a year I asked for and received a 100 dollar increase but that was all I was ever able to get . I received a Cap 1 Visa with the Lowes logo with a 5000 line but that original card never received another increase. I put it away for a long time then finally closed it.

 

If you want a CLI of any size you should forget Crap1 - they give out $100 increases about once a year. BUT.... they will offer you another card with another $500 line and another annual fee.....

Better to just build your FICO score up so you can get a real card, not a Crap1 toy card.

As the commercial says, "What's in YOUR wallet?" My answer is Not your crap1 card.

 

Took me about 9 years to work up from a $500 limit to a $3000 limit with them. I did have quite a few late pays with them for awhile though. I did notice, however, that the CLI's were quicker and bigger when I kept the balance down close to zero. Couldn't get the rate down below 19%.

Ya, they kinda suck. Filed about $600 on them in the bk. We'll see if I get any more offers from them!