Received a "Pre-Approved" offer for a Capital One Gold card last Friday and went ahead and filled out the app. for it online. I received the card yesterday with a whopping $300 limit. Called them up tonight to see about switching it to, or applying for a gold card since I needed something with at least a $1000 limit for car rentals and such. Guy on the phone asked me to how for a minute while he connected me to customer service, same guy came back on the line about 30 seconds later and said their lines were busy but he could go ahead and increase my limit to $1000 for me. So, I've had the card less than 24 hours, have never used it, and they've already given me a $700 credit line increase. I thought this was very odd considering how tight I've heard they are with increases. Anyway, I like em so far! Kirk
correction ...meant that I called to see about switching it to a secured card. It's already a "Gold" card. Wish you could edit posts here. Kirk
RE: correction ][ and conclusi (I'm sure you meant switching to UNsecured card.) This is very interesting, especially because your post confirms a very important point that others have suggested in the past. Let this be a lesson: If you need a credit increase right now from Capital One, be sure to mention the magic words: "I'll be needing that to secure a car rental"... and mean it! Yeah, why won't we indeed celebrate that unexpected increase by securing a one day car rental of Ford Focus? Saar
No Luck For Me I have had a Classic Card from Capital One since March and the Gold Card since July. I just called and tried your method and got no where. I was told that the policy is for capital one to notify you about increases by mail in statements. For the Gold card she said that I havent had it long enough. Should I ask to speak to someone else? Or wait another month. Any other suggestions on getting a limit increase. Both cards have a whopping $200 limit. Mike G.
RE: No Luck For Me "I was told that the policy is for capital one to notify you about increases by mail in statements." I'm afraid you were lied to, but that's ok, some of their reps tend to do that. Next time you call them, don't waste your time, and ask to speak with retention upfront. Retention would normally increase the limit to $500. Saar
RE: No Luck For Me had bad luck with cap.1 had credit card w/$1,000 limit,raised to $1500. limit charged me late fee $25.00, called to get it canceled as was first time, rep refused,asked for payoff,sent in payment and canceled card. just on a lark about 6 months later re applied and got the card with a $500. limit. called company up and said !@W$#%$%^ yea right. cancel card. rep said ok but was very upset with me. i have credit cards with higer limits dont need this one or garbage that goes with it.
RE: No Luck For Me I had their unsecured Visa for over two years, and I never could get them to raise my $200 limit. I had a perfect history with them, perfect credit reports, no inquiries, and not too many accounts open. They wouldn't budge, and they owed me no explanation as to why I couldn't get an increase. They made me so mad, I could have chewed barbed wire and spit out nails! However, a couple months later, I felt I was ready for a gold card, and I decided to give Capital One a call. The rep. told me I would probably qualify for a platinum card, but I'd have to close my Visa Classic account first. I closed the account and applied for the Visa Platinum by phone. I was approved with a hefty credit limit, and I've found them to be a great company to do business with. My point of all this is that you shouldn't worry too much about those penny-ante credit limits they offer with the Visa Classic or Gold cards. A positive credit line is a positive credit line, regardless of the limit. Think of the beer money card only as a vehicle to improve your credit ratings. An account with a $200 limit is an easy one to maintain, and if it's the only card you have, you'll not have to worry about being up to your ears in debt. If you want a card that sees frequent and substantial credit increases, go for Providian. Just keep in mind that a Providian card will give you the opportunity to wrack up some MAJOR debt, and it's a hell of a lot harder to pay off.
You were right Saar!!!!!! Thanks for the advice Saar. I called back today and got an increase on both of my cards. However, I first was declined by the agent who told me that I needed to hold the card for a least a year. Interesting, yesterday I was told 3 months. Anyway, retention increased my limits on both cards. Not a lot, but at least it's a start. I am going to call like this ever 3 months and see how close I can get to that $2000 limit. Read my post with the full story if you want all the details. Thanks again Mike G. Saar wrote: ------------------------------- "I was told that the policy is for capital one to notify you about increases by mail in statements." I'm afraid you were lied to, but that's ok, some of their reps tend to do that. Next time you call them, don't waste your time, and ask to speak with retention upfront. Retention would normally increase the limit to $500. Saar
