Called today to combine my 2 Cap 1 accounts, and instead they talked me into keeping both cards. They gave me the option of either a credit line increase, or lowering my interest rates on both cards. Option 1: Lower APR on both cards from 19.8% to 17.6% Option 2: Increase both credit lines by $300 (They both have a $1000 credit limit) These peeps are tight with the credit increases. What good is a measly $300 going to do? I took the lower APR's. Better than nothing Chet
Capital One is very conservative with its credit line increases on the majority of its cards. However, they also have one of the lowest default rates of major card issuers (even with their secured and sub-prime unsecured products). Supposedly, their computer system for tracking purchases (both type and average dollar amount) and payment record in conjunction with other factors (income, other credit, employment, etc.) is one of the industry's most accurate in determining optimum credit limits (optimum for getting the customer to use the card and pay Cap One).
Capital One never even asked me about income or employment. That's because they don't care about how much credit I can handle. All they want is a tiny account on which they can charge a $59 annual fee.
Rich guys, they charge you a lot on that annual fees and now onder they don't care your employment. Right now all I pay to Capital One is that unsecured M/C and the other is Kmart MasterCard with no annual fee. You cannot asked Capital One for limit increase and they told me they reviewd your account once a year. They will increase the limit when the time is right.
