Capitalone Secured increase li

Discussion in 'Credit Talk' started by sam, May 7, 2000.

  1. sam

    sam Well-Known Member

    Whats the rate of the capital one secured card increases? I have had my card for 3 months (3 full payments), with the $99 for $500 secured limit. I asked for a credit limit increase and they only gave me $100. Bleh. When is the next time i should ask capitalone for a credit increase? @ 6months?

  2. John Debto

    John Debto Guest

    RE: Capitalone Secured increas

    I think it would be a big waste of your time to expect credit line increases. If you need a bigger line, send them some more dough for your deposit account.

    Supposedly they only review your account once a year. I wouldn't keep asking for increases in any event, you'll get turned down and you'll feel like a stool.
  3. Doris K.

    Doris K. Well-Known Member

    RE: Capitalone Secured increas

    You're lucky to have gotten that much of an increase from them so soon. Most customers with an outstanding payment history have to wait years to get that much of an increase from Capital One.

    The only way I was ever allowed an increase was to cancel my Visa classic card and apply for their platinum card. I was approved, and now my limit with them is $10,000. That's including two increases in three years, and I've had a perfect payment history with them and all my other creditors. Just recently, Capital One sent me an offer that almost caused me to roll out of my chair. They offered to send me their exclusive gold card with a $200 limit. I laughed so hard and for so long that I'm surprised my friends didn't think I had been smoking some sort of wacky weed!

    The bottom line is that Capital One has excellent customer service, but they are so stingy with credit limits, they are laughable. To have gotten that $100 increase, you certainly must be able to qualify for the best prime rate card on the market.
  4. James

    James Guest

    RE: Capitalone Secured increas

    I started with the same offer - $500 secured with $99 - and used my card alot. In a year's time, actually more like 10 months I got an offer from Capital One to increase my card up to $2,000 by making deposits such that for every $1 I deposited, they matched it by $3. In short, in just under a year - provided you put alot of activity on your card and pay down the balance fast and then right back up again - I think you will likely get a $2,000 limit card within a year's time.
  5. J. Edgar

    J. Edgar Well-Known Member

    RE: Capitalone Secured increas

    How is it hanging mamma
  6. Len

    Len Guest

    RE: Capitalone Secured increas

    Yes, John, I've asked that my secured card be unsecured every year for 5 years and been denied.
    I receive $100 increases on my other Cap One cards once in a great while. As a matter of fact, I do feel like a stool when I ask.
  7. Jim

    Jim Well-Known Member

    RE: Capitalone Secured increas

    Stool here too. After a year of on-time payments, I asked for a increase on my little $200 unsecured card and I was denied for going over my big credit limit by a few dollars. haha

    I'm applying for two much higher secured cards now, and unless they change their tune, Capital One is history.
  8. Len

    Len Guest

    RE: Capitalone Secured increas

    Yep. Went over my limit by 11 bucks 3 years ago on my $200 limit card. Capital One will never forgive or forget that egregious act of irresponsibility on my part.
  9. dogman

    dogman Well-Known Member

    RE: Capitalone Secured increas

    I have a Cae One Silver MC. They started me at $1000 - maybe a $99 secured fee.
    They moved me up to $1500 after about 18 months.

    I have made and paid numerouse transactions - both cash advances and purchases - nearly up to the limit.

    I have made perfect payments, never over the limit, and many many times pay the full balance each month. I also use the website-
    when I can, to pay my bill.

    I called Cap One today because my card comes up for renewal in 7/00. I asked them if they would consider a line increase at that time upon renewal?

    The NICE Cap One rep- said - our customers are always welcome to call and ask for an increase. She said she would request an increase for me immediately. I will see it on my next statement, or can call the 800# in 7 days and it should reflect the new limit. If they deny me, I will get a letter.

    I asked him to see what my chances are:
    He said 1 - never been over your limit
    2- never been late
    3- always make significant payments

    "I believe your chances for an increase are excellent."

    I thanked him. I wonder if I get an increase - and if so - how much? Had the account for maybe 22 months.
  10. RichGuy

    RichGuy Guest

    RE: Capitalone Secured increas

    My case ended up differently.

    Until about 6months ago, I was in the habit of spending up to my limit, then letting the finance charges put me over my limit. Citibank never charged me a fee for this as long as I got back under limit with my payment. Now I can imagine how this was hurting my reputation with them.

    Then I accepted Capital One, even at $200 with a $59 annual fee, just to get something new going. I maxed out the card in a month, and then the finance charge and $59 annual fee took me up to $262. Again, no fee was charged, and I made a $70 payment. However, when I foolishly asked them for a limit increase in 2 weeks, I got a decline over the phone and a letter giving one reason: "previous overlimit status".

    Bad news so far. But I asked them again 3 months later, when theirs was just one of my four bankcards. They quickly took me up to $300, but probably only because of my new leverage due to more options.

    Someone else mentioned that they asked to cancel a brand new $200 card, and it was raised to $500. However, that was a brand new card, not a maxed-out card. With my present $280 balance on a $300 card, I couldn't do the same thing. Lessons here for anyone interested: more cards increase your leverage, higher balances reduce your leverage.

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