I don't know why I feel compelled to respond to people with only one post....but here goes...
If you have read about Capital One you have no doubt read about contacting the Executive Office. It is a shame that a company forces its long time customers to have to go this route to get what they need/want but it does seem to work.
I cannot post the Executive Office's email here (his name is Dick but the full version of Dick and his last name is like a city in Alaska and not Juneau or Anchorage-so email@example.com
) but you can easily Google Capital One President and CEO and you will easily find his email address. Email them (nicely) with the issues that you are having with your account and then provide your contact telephone number. Do not include account numbers or Social Security Numbers. Someone from the Executive Office will contact you by phone to speak with you.
When they call you I suggest that you:
1) ask for a product change/upgrade such as Quicksilver or Venture (annual fee)/Venture One (no annual fee)
2) request a credit limit increase
The reason for the product change is tenfold: it is widely accepted that Capital One rebuilder cards max out at $3K credit lines, so changing to a better card will allow for higher future credit limits.
Keep in mind that Capital One firmly believes that if you are not currently using your $800 limit, then you don't need anymore. And telling them that you don't use the current $800 limit because it is too small, that won't fly. Be sure that you have used your card several times and made at least three on time payments with Capital One recently in order to have the best chance at an increase.
Remember that honey catches more bees than vinegar. Do not come across as rude or threaten to close your account because of the limit. Just indicate that you would like to continue your relationship with them using a different reward card and a higher credit line. Contacting the EO seems to help about 80% of people who try it.
As far as closing the account, it won't really hurt at all. The account will still be included in your average age of account formula for the next 10 years or until the card falls off your credit report. Since your limit is so low, it should have a negligible effect on your debt to credit ratio. If you feel that the card has no worth to you then by all means close it. But after 8 years I'd try the EO route first to see if you can get the card changed to your liking.