Credit Line Increase for Student - CapOne QuickSilver

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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RidgeRacerJM
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Credit Line Increase for Student - CapOne QuickSilver

Postby RidgeRacerJM » Mon Mar 17, 2014 10:48 pm

Well, here's more info than what the title says.

I used to work, but I am now in graduate school while my parents are paying for my expenses. I looked at Capital One's FAQ and stated I could list "somebody else's" income. My parents income is much different from mine when I was working. Would that affect things much? Like maybe trigger a review of some sort? Or maybe freeze my credit card?

Im kind of sick of my $1000 limit. I've had it for 5+ years now. =_=;
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otter
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Postby otter » Tue Mar 18, 2014 12:12 am

RidgeRacerJM wrote:
Im kind of sick of my $1000 limit. I've had it for 5+ years now. =_=;


Honestly, I would either sockdrawer it or get rid of the card altogether... your card has no AF, but what good is it? If you haven't gotten above $1000 in 5 years, realistically it's not going much higher. Maybe try appealing to the executive office, but that's a little iffy to. As for income, I don't think including your parents' income will help much. You could win a lottery jackpot tomorrow and have Bill Gates give you a third of his Microsoft stock and Cap One won't look at you differently. Once they have you pigeon-holed into a certain category, they don't change unless you apply for one of their prime cards, but who wants a triple-pull from Cap One?

I don't know your credit profile, but based on your other cards, you could probably get better cards from other issuers with larger limits(assuming you don't have any baddies). Many of us on here did the Cap One thing... good for building or rebuilding, but it's time to move on. You'll feel better when you do.
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  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
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In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
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MemberSince99
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Postby MemberSince99 » Tue Mar 18, 2014 6:43 am

I've gotta ask what seems to me to be the obvious question - why the need for more credit? Granted 1k isn't a huge limit, but is it like you are spending so much of your parent's money that you have to make multiple payments a month on it?

RidgeRacerJM
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Postby RidgeRacerJM » Wed Mar 19, 2014 7:27 pm

@ Otter: I received an email from Cap One that I qualified for a credit increase, but I needed to state my income. Also, my credit profile is spotless. Havent missed a payment, never late, etc. But I'll consider just socking the cad at this point...

@ MemberSince99: I pay in full every month, and I need the higher limit cause I've ran into situations where there's a certain category not covered by my other cards (first world problems). If you really want to know what my purchases are on, its certain online programs ie USMLE World. Most months I only charge about $300 on it.

--edit: I should say my parents pay my card in full every month, I just schedule it. I'm also just very thankful and appreciative my parents are allowing to me do this.. this isnt exactly free for me either. they're keeping a tab on me that i'll eventually have to pay back. rightfully so.
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linuxmachine
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Postby linuxmachine » Wed Mar 19, 2014 8:12 pm

Apply for a fidelity amex for 2%? Maybe a new card will get you a new limit. Assuming getting a new card is an option...

luvbullmarkets
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Postby luvbullmarkets » Thu Mar 20, 2014 1:37 pm

Good luck with the CL increase.

Cap One hardly ever increases limits without a hard inquiry.
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HotrodBill
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Postby HotrodBill » Thu Mar 20, 2014 11:56 pm

fill out the annual income, and ask for a CLI. shouldn't be a big deal with cap one. i've found that if you play your cards right getting a CLI every 6 months to a year isnt too hard.
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MemberSince99
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Postby MemberSince99 » Fri Mar 21, 2014 6:51 am

I'd worry more about making my own money right now. Once you have your own income, you won't have to worry about this, or likely deal with Cap One anymore.


Worrying about getting a CLI when you rely on someone else's money is putting the cart before the horse. When I was in college I had no credit cards at all, and frankly with my income I didn't need credit cards.


Take care of business then worry about your limits.

Indymac
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Postby Indymac » Sun Mar 23, 2014 4:41 pm

Don't know if it will work for you, but I scratched my mag stripe on my Capital One card and was lazy about calling them for a replacement and just used another card. After a month or two I got a credit limit increase. However, I can't remember if I finally called them and got the replacement card and then the increase or if they game me the increase first and that's what prompted me to call them for a new card.

RidgeRacerJM
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Postby RidgeRacerJM » Sat Mar 29, 2014 7:54 pm

MemberSince99 wrote:Take care of business then worry about your limits.


^All that I needed to hear. Sometimes I get lost in dream land... thanks for the reality check!
Capital One Quicksilver: Since 10/2008 (CapOne Platinum originally)... upgraded on 08/2013
Chase Amazon Visa: Since 07/2011
Amex Gold Premier Rewards: Since 11/2011
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