Requesting Credit Line Increase

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
5 posts
msx-tr
 
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Joined: Sat Feb 15, 2014 11:20 am
Location: USA

Requesting Credit Line Increase

Postby msx-tr » Sat Feb 15, 2014 11:26 am

Hi there! I've had a Capital One secured card for just over a year now. Several months in, they gave me a $100 unsecured line, without my asking. Now I'd like to have that amount increased, but am unsure how to go about doing so, and how much to request.

My credit history isn't great, hence the unsecured card. Basically had no credit, then life happened and acquired some collections on my history. In the year I've had this card, I haven't fully loaded it, and have paid my balance in full every month (have $600 secured, if that matters).

How much might I be safely approved for? I was thinking an additional $300? And for that, do you just email them or send the request in writing?

Thanks for any help! :)


samhradh
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Postby samhradh » Sat Feb 15, 2014 10:05 pm

msx-tr wrote:Now I'd like to have that amount increased, but am unsure how to go about doing so, and how much to request.

How much might I be safely approved for? I was thinking an additional $300? And for that, do you just email them or send the request in writing?


Honestly, these are questions you should just ask your bank. Process will go a lot faster and you'll get the right information.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

takeshi
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Postby takeshi » Sat Feb 15, 2014 11:27 pm

Impossible for us to say. We don't know the details of your credit and we don't know CO's criteria.

GoCreditGo!
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Location: Seattle WA

Postby GoCreditGo! » Mon Feb 17, 2014 10:04 am

I had a similar issue.

I started with the Capital One Secured card (that had a fee). I parlayed that in to another credit card for a lesser limit (after 3 months) and now I've canceled the Capital One Secured card. In less than a year, I've got a Discover card, Amex, Boa Credit and others. I don't have Chase though.

I hope that helps and gives you some encouragement.

lexrj
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Postby lexrj » Mon Feb 17, 2014 3:16 pm

msx-tr wrote:Hi there! I've had a Capital One secured card for just over a year now. Several months in, they gave me a $100 unsecured line, without my asking. Now I'd like to have that amount increased, but am unsure how to go about doing so, and how much to request.

My credit history isn't great, hence the unsecured card. Basically had no credit, then life happened and acquired some collections on my history. In the year I've had this card, I haven't fully loaded it, and have paid my balance in full every month (have $600 secured, if that matters).

How much might I be safely approved for? I was thinking an additional $300? And for that, do you just email them or send the request in writing?

Thanks for any help! :)


Forget cap one, their CLIs are slow and painful. Get yourself an AMEX revolver and grow your CL quickly with their soft 3x CLIs. I'd suggest either BCE or BCP depending on your spending. In less than 2yrs I went from 1k to 25k CL, my cap one still at 1.7k after more than 3yrs.
---------------------------------------
Current in my Wallet
Amex BCP - 25K (02/12)
Barclaycard Arrival WMC - 15K (10/13)

Future
US Bank Cash +

Socks drawer
Crap One Quicksilver - 1.7K (04/11)
CSP - 15K (03/13)

Scores
FICO EX 772 / TU 765 / EQ 762 - (09/14)
AAoA 2.1



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