My CL was increased on my Cap One

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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My CL was increased on my Cap One

Postby GrazieVersace » Fri May 03, 2013 8:25 pm

Hey i had a secured capital one platinum card for 2 years now & my initial credit limit was $500. After 2 years of on time payments & paying off the balance in full. I see my CL has increased to 2k.

1. Is this normal?? i've never seen any post of a CL increase on a secured Cap one card for that much.

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Postby DavidNY » Fri May 03, 2013 9:57 pm

Any AF ?

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Postby pewpew » Fri May 03, 2013 11:24 pm

capitalone does this for all of their student/secured/newcomer cards. they review your account 1 year after you open it then once every 6 months. if they like what they see they bump your CL. my brother has a capital one newcomer card and this is what a credit specialist told him when he phoned in to ask for a CL increase.

BUT, here is the big but, if you have a capitalone student/secured/newcomer card, you can't request a CL increase. they wont even look at your account when you ask them to. you can only ask for CL increase on their higher tier cards, like the venture and cash back cards.
Junk I use:
AmEx Platinum for Mercedes Benz from, 75k spending ability
AmEx Everyday 8.99% + Prime, 44k CL
Chase Ink Bold, 35k
Chase Freedom (Converted from WaMu VISA) from '07, 5.99% + Prime, 30k CL

Junk I don't use
BoA Susan G. Komen Cash Rewards (converted from World Points MC) from '07, 7.9% Fixed APR, 30k CL
Discover IT (Converted from Discover More) from '08, 5.74% + Prime, 20k CL
AmEx Clear from '07, 4.99% + Prime, 10k CL
All 3 credit scores are over 800.

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Postby rockyrock » Mon May 06, 2013 2:56 am

I've had a one of those cards since 1999--it's a terrible card (IMHO) but at the time I was in a personal recession and could only get a secured card. The AF is $29 and the APR is 15.9%. No points, no rewards, no miles—nothing.

It started out at $200 and is now at $800. I have never requested a CLI but at about the 10 year mark they sent me a check for $210 or so (deposit + interest) and said I no longer required a security deposit--lol. At that point I had an Amex Platinum for five years and $50k+ of available credit across a few other cards.

The only reason I keep that card is because after Sears closed my account due to inactivity it is my oldest card. I think the last two or three replacements are still in my desk drawer with the activation stickers still on them.

It’s a good option if you have poor or no credit but best to keep it only long enough to establish yourself and then get a no AF card to continue building history. At nearly 15 years now my AAOA would take a huge hit if I closed it. In another year or so several of my other cards will hit 10 years; maybe I’ll close it then. Until then $29 a year is a small price to pay.
American Express (2005): Premier Rewards Gold & Blue Cash Preferred
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
Navy FCU Platinum Visa Citi Double Cash & AT&T Access MC

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Postby ivotedale » Sun May 12, 2013 1:59 am

Decided to bust out my sock-drawered Newcomers card, and asked via secure chat about CLI's.

What's interesting, is the chat agent told me it was to be a soft pulll, stating "only you'll be able to see it, not potential lenders." Hopefully that's the case, because I was told shortly after I did not qualify for an increase.

I've been stuck at the $750 mark for well over two years (began at $500, then $750 after six months). It was my second credit card though so I don't really care at this point, especially w/ the generous $8k+ limits on my Amex's.

The main reason I'm reposting in here and toying with it again is because I never realized it was a Platinum Mastercard. I guess there's supposed to be a concierge service attributed with that tier as well, but I haven't tried that yet, maybe tomorrow.
Currently: American Express Blue Sky, American Express Zync, Chase Freedom Visa, Capital One Newcomers--->converted to Capital One Quicksilver Mastercard NO AF

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Postby PopiLopi » Sat May 18, 2013 8:50 pm

I have the student card and after 6 months they increased my CL to $750, nothing since then. I don't care about the card, but I have it open because is the oldest card I have.
Amex: Business Platinum (09/12) BCP $10,500 (03/13)
Visa: Capital One Journey $750 (04/11) Chase Freedom $1,800 (04/12)
MasterCard Citi AAdvantage Platinum Select $8,500 (05/13)
Discover: Discover It $2500 (07/11)
Store Cards: Amazon $3900 (12/11) Macy's $500 (04/11) Kohl's $500 (05/12) Victoria's Secret $750 (11/12)

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