- Green Member
- Posts: 18
- Joined: Mon Jun 02, 2014 5:52 pm
- Location: Atlanta, GA
I just got a Capital One Credit Limit Increase... I don't know what witchery this is, but let me explain.
Some time ago I decided to get a new credit card and went with Orchard Bank, part of HSBC. It was a starter cards and as is standard procedure, I requested increases every 6 months. I think the card went from an initial $300 limit to $500. Then OB sold their accounts to Capital One (C1). I did my research and found out about C1's horrid history with CLI's So I was expecting never to get a limit increase because I did not want to close this old account. Also, I still believe that they did not inform me that the C1 card would have an annual fee. Great plan but I caught it and they waived it for a year. Anyway I hadn't used the card practically since I got it (they gave a new card with the history of the old one) because Well, what was the point? Well I decided I would be giving the once in a lifetime CLI request soon, so I decided to show some use, put like $50 on the card. As I just happened to be on today to verify my due day, when I saw the CLI request option. A quick search said that the request would not generate an inquiry, so I said why not. And surprisingly the request was approved, from 500 to 3500. My personal opinion is it was a mixture of offering a one time increase for transfer cards, and my bump in income.
Now being the pessimistic intelligent person I am, I still don't trust them. I expect that will never happen again, and I will, as a matter of principle will never pay that annual fee, at some point i'll see if they will downgrade the card to a no fee card while maintaining the history.
Just wanted to share the shock of my day.
Credit Union card 10K
Marriott Rewards Platinum 5K
Bank Platinum Visa 15K
Credit Union card 5K
Capital One MC 3.5K
Discover IT 1.9K