I don't know how this happened.. But I applied for their pre approved Platinum Mastercard offer with the Credit Line "Up To" 3000.00 and of course Minimum being 300.00 which I was expecting.. Of course I got the 300.00 LOC.. I had the card for 3 billing periods and I just checked this morning and they gave me a 2700.00 increase and now I have a 3000.00 limit.. How exactly does Cap 1 determine your credit limits? I have heard so much about them being stingy about their increases so I am confused.. Can anyone help? Thanx..
I think I'm going to have to coin a new term. It's RCLG. RCLG = Random Credit Limit Generator. Copyright 2004...LOL
Congrats! Getting a CLI from Cap 1 is like pulling teeth. I gotta think this is the biggest CLI without PFB from Cap 1 that is reported by a CNetter. Do you know if they pull a hard inquiry? Best regards, Mirage
Same situation happened to me. In November I opened a Cap 1 card and they gave me a $300 CL. January came around and they upped my limit to $2250. I didn't ask questions and there was no hards on my CR. Congrats. This was last year. My card turned a year old and I was hoping for an auto increase but nothing yet. I ain't gonna call for one either because they'll pull hards.
I was literally shocked this morning.. I never asked any questions.. Paid my bill on time for 3 months in full and the moast major purchase I used for it was for heating oil for the house..
In my last statement, Cap.1 asked me to call some automated 1-800 number answer some questions: 1) What is your job title 2) How long at employer 3) Gross annual income 4) Household income 5) Do you own or rent Not sure what purpose that served if any. I recently combined my 2 accounts and have a limit of 9500 sitting at 10.9%. Still have to pay an annual fee although I can usually get it halved. I only use it for $5-$10 once every 2 months. I need this card for the history. An APR cut would be nice and that is what I am hoping for.
I had problems with Cap 1 in the past.. 2 chargeoffs that I paid back in 2001 Last I checked they changed my status on both cards to paid as agreed however one of them is showing settlement accepted. I wish I could get those accounts removed..
I did not see any hard inquiries on equifax or experian as of today.. I will check my transunion in a couple weeks.. They have been pulling soft inquiries on me though..
A few months ago I called Cap One to request a decrease in my Interest rate. they said they could do a small decrease, or raise my limit, but not both at that time. I wanted to have a bit more "margin" on my limit, so I went that route. Plus, I'm almost to 0 balance now and don't plan to carry a balance in the future so don't really care what my APR is. I just bought a house and my scores have improved, so in a few months I'm going to hammer them to remove the annual fee. Will I have any luck on that? Of course, I don't really care since I'm getting better offers in the mail all the time, It's just that Cap One is my oldest card.
Unreal. I just bought a new Mercedes, and qualified for $300K on a home loan. My cap1 'platinum' card has a limit of $300. I applied for an increase and was denied. Sweet!!!! So I gracefully BT'd that badboy. What do they base this stuff on!? The RCLG must live on.
