Capital One credit limit for new customers

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encouraged
 
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Capital One credit limit for new customers

Postby encouraged » Fri Feb 04, 2011 6:57 pm

Right now I have a unsecured JCP card with a $500 limit and a card from my credit union with $750. If I were to apply for a Capital One as a new customer what credit limit do you think I will get and will it make any difference if I apply for a Visa or a Mastercard?


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Elliot Castro
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Postby Elliot Castro » Sat Feb 05, 2011 11:49 pm

I am guessing 500$, unless you have exceptional history. America is going through a credit-crunch crisis right now, due to the economy spiraling down. It's quite possible if you wait longer, the maximum credit will be diminished even more.

I tried to even threaten them with cancellation if they did not up my limit, and I am actually a PAYING annual-fee customer, who makes his payments and they wouldn't even budge.

chuckit
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Postby chuckit » Thu Feb 10, 2011 12:51 am

If you use your Capital One credit card responsibly your limit will be raise rather quickly I hear good things about their cards for those needing to build credit.

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Postby mag48 » Fri Feb 11, 2011 8:41 pm

I am a student with good income. I was approved for $500 about two months ago. I got a letter in the mail saying if I make 4 more ontime payments my limit will be raised to $750, so if you keep paying them on time it seems like they will raise it relatively quickly.

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Elliot Castro
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Postby Elliot Castro » Sat Feb 12, 2011 2:00 am

If you use your Capital One credit card responsibly your limit will be raise rather quickly I hear good things about their cards for those needing to build credit.


Well this certainly is not going to work in my case. Since they refused to upgrade my limits, this is making me refuse to use the card at all when I have so much higher limits on my other cards. So, we are at a stand-still there.

I'll threaten them one more time in a few months, and if they don't do what I want, I'll cancel the damn thing.

encouraged
 
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Postby encouraged » Sat Feb 12, 2011 3:10 am

I appreciate all the responses, I really do! :)

Really as a new customer of Capital One I dont need a big credit limit. I have my fingers crossed for above a thousand and that will be all it takes to satisfy me. I realize building credit is a process and don't expect any credit card to give me a humongous credit limit since I am a new customer that is new[er] to credit cards.

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Postby mizzshannon » Mon Feb 21, 2011 3:26 pm

Hi there, encouraged

I just spoke with a capitol one rep about my recent approval. She said my credit limit will be $750 and that once I've made my first five payments on time my account would be reviewed for a limit increase.

FWIW, I have an unsecured JCP card with $1500, and one unsecured credit union VISA with a $5000 limit. I was hoping for at least a thousand too, so I could take better advantage of the 0% balance transfer option. Ah well. I'll take what I can get and do well with it I suppose.

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Postby SVTNorthTexas » Wed Mar 30, 2011 12:55 pm

From what I've seen with Capital One $500-1000 is an average start for them. I have less than perfect credit (around 585-600) and currently have 2 Platinum cards with Capital One. The first one I have had for about 18 months. It has a $1000 limit. I went over the limit recently which dropped my score down, but have activly been paying off ontime since. Capital One is a great stat. I just got my second card with them. It only has a $500 limit, but that's okay with me. It's my understanding if you pay ontime for 6 months your limit will be increased. Good luck and congrats! ;)

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Postby agenda_zero » Mon Apr 04, 2011 2:48 am

What about good credit scores in the 700s. What would be the average credit limit on a Capital One for a new customer?

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Postby jeffysdad » Mon Apr 04, 2011 9:46 am

My score is in the 770s and I just got a SonyCard from CapitalOne with a $10,000 limit. I used to have a CapOne card with a $20,000 limit, which is what it was opened with several years ago. I closed that account because they wouldn't stop sending me balance transfer checks and other junk mail after multiple requests to stop.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.



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