Capital One credit line increase?

Discussion in 'Credit Talk' started by budgetboy, Feb 23, 2003.

  1. budgetboy

    budgetboy Member

    I paid on time for a whole year and just got my first increase for $100? That's it? What's going on here?
  2. kelcol

    kelcol Well-Known Member

    LOL from what I hear Cap1 is very stingy w/ their increases. I had the secured card for almost 2 years and never got an automatic increase, I just called them last week and they gave me a 250CLI on one card and I had the interest dropped on another.
  3. dixidriftr

    dixidriftr Well-Known Member

    I got a $100 increase back last august. I tried to get another the first part of February but was turned down due to not having the account open for a full year. I just got a denial, no hard INQ than goodness.

    I decided to call crapital one's "R" dept the other day. The guy said crapital one is not giving out hardly any credit limit increases at the moment, and he couldn't authorize extending me another CLI, but he did waive half of the $59 membership fee. I think his hands may have been tied because of the policy on extending credit limits.

    Anyhoos, Feb 25th I'm supposedly eligble for another CL increase. I will try it again then.
  4. LKH

    LKH Well-Known Member

    Someone is you. I just got an increase 1 1/2 weeks ago.
  5. Brad J

    Brad J Well-Known Member

    Existing cardholders in good standing are eligible for CLI's every 8 months (Used to be 4-6 months). New cardholders (NOT secured) have to wait 12 months for the first CLI.
  6. Ron

    Ron Well-Known Member

    Capital One Gold MC got increase every 6 months and each time they increase $200. By the way, I cannot get increase for my Kmart MC.

  7. mom4

    mom4 Member

    They just gave me a 300.00 increase but they pulled a hard to do it. They also reduced my interest rate by 3%. I kinda think it depends on who you talk to.
  8. Chai

    Chai New Member

    I had the same experience, and I've got a CO Kmart card. I pay on time every time and have had not even one increase. Frustrating, but it's interesting to know that they infrequently increase credit lines to begin with. I should just get a new card.
  9. Eric2OO2

    Eric2OO2 Well-Known Member

    I believe capitol one is now issuing credit limit increases differently for each type of account. Many people have said that you can no longer receive a credit limit increase every 6 months, but now every 8. Well I've contacted Capitol one retention about this and they told me it was still once every 6 months. I also went ahead and applied for a line increase (knowing I wouldn't get it because I just had one in October) and the denial post card I Received in the mail even told me "Your request for a line increase has been denied due to not maintaining your current limit for 6 months. Also capitol one hasn't been stingy with CLI"s for me. My last increase was $700 - They also dropped the rate on my visa last month 2 points, only 3 months after I received the CLI. All of the above leads me to believe that Capitol One no longer has a set standard for all accounts, and they they are now reviewing accounts and awarding increases very differently.
  10. matt_r

    matt_r Well-Known Member

    Back in September, I called Cap1 retention to see if I could get CLI's on my V and MC with them.

    To my complete (and I mean *complete*) surprise, they gave me an $1000 CLI on both of my cards. This was in September: at that point, my MC had been open for 14 months; my V (which is a secured card)had been open 5 months.

    Now the CLs stand at $1600 on the MC, $1500 on the V. The guy did this on the phone without hesitating.
  11. jaj1701

    jaj1701 Well-Known Member

    I called for my limit increase, and it just happened to have been over 8 months since I opened it. I recieved $2000.00.
  12. Geo

    Geo Well-Known Member

    Jason: That´s is because you have their Platinum card.
  13. sam

    sam Well-Known Member

    $100 limit for me. I have an old secured card converted to gold 9.9% fixed no annual fee ever .

    the rate ain't bad. but they never give bt promo's
  14. smontoya5

    smontoya5 Well-Known Member

    I just got one of their secured cards last month. Had to send $99 to secure $500...

    Anyway- does anyone know what the requirements for increasing the credit line on their secured card is? Would it be possible to send in another $99 somewhere down the road and receive an add'l $500 in credit?

    Haven't used the card yet. I originally got it to try to build my way up to one of their prime cards.
  15. skyy

    skyy Well-Known Member

    my experience with capital one...

    Feb 2002 - approved for the secured card, $99 deposit and $200 credit limit.

    Aug 2002 - PFB'd, Mr. Cooke called and upped my CL to $500.

    Feb 2002 - PFB'd, Mr. Cooke called and upped my CL to $1200.

    nothing special with me - kept about 50% usage on the card and paid on time every month. compared to what others have said on this board, I now feel very lucky to have gotten such good increases with them.
  16. jpartdq

    jpartdq Well-Known Member

    I've had my Capital One since I was 18. I am now almost 22. They gave me a $200 dollar limit back then. Since then I have never missed a payment, never gone over the limit and they have upped me to $300 bucks. I asked for a CL increase, denied. PFB's Cooke, denied. He told me to call him for questions. I did, did he call me back? Nope. I am disgusted with their company. If they weren't my oldest tradeline they would be gone.

    Speaking of which. I just got approved for a $3500 Corvette Mastercard. My next oldest card is Chase with a $1000 dollar limit that is 2 years old as of this month. Since Cap 1 is 3 years old will this severely hurt me if I closed my account? Their card is now sock drawered and I don't intend on using it again. Should I leave it open or close it? (I have heard if you close it they will sometimes offer you large limits to reopen)

  17. ryder

    ryder Well-Known Member


    I just realized I have a CapOne "Platinum Card" with a $325 credit limit on it! I got it eight months ago and it was the first unsecured credit card offer I had received in six years. I have no lates or over my credit limits with this new card.

    No offers for credit line increases. I just called and the automated system said I needed to wait 12 months for an increase. WTF? Thanks to CN I now have a 776 EX score and a 846 TU score, but I can't get more than a $325 limit on my card? The Bastards charged me a $65 application fee too.

    Something is rotten in Denmark!
  18. catnap1972

    catnap1972 Well-Known Member

    I'm one of Cap1's old geezers...almost up to 7 years with mine, only raised the limit twice (from $1K to $1500 years ago, and from that to $3000 almost 2 years ago), and both were offered, not requested. Think I should be about due for another increase though I'd rather have the annual fee dropped and the interest rate lowered (15.51% now), but I think they'd probably still laugh all three off.

    Can't afford the hit from dropping the card either (TU fako tanked when I stupidly lost the TL from that)
  19. Brad J

    Brad J Well-Known Member

    Nah. I dropped one of two Cap. 1 cards that was three years old because of stingy CLI's. I only had to wait 4 months for a pre-approved plat with a 3000 initial limit. Truth be told, my EQ FICO only dropped 5 points after I cancelled it.
  20. AustinGuy

    AustinGuy Well-Known Member

    I've said it before and I'll say it again. If your credit is lousy, Cap1 is probably the best game in town. When your credit improves, they're just not worth it. Annual fees, high APR's, low limits, not reporting limits. I'm due for renewal in August and I'm kissing them goodbye. By keeping them, I feel I'm just supporting their bad habits.

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