didYOUsearch said:Its very rare they give out a large CL, or even a CL comparable to your other cards. Large Cap 1 CLs have only been reported a few times in this forum. Most others get $300-1000.I'm one of the lucky ones...I have a $17,100 CL with CapitalOne. Go figger.

anon94305 said:Early on, when I had little credit history, Cap1 issued me a $3000 CL card.

I recently applied for a reward card from Cap1 and was rejected. I have >700 credit score and other CC companies have given me cards without problem.

Hope that makes you feel better because it seems they are targeting people with less than stellar credit.

Crapital One is and always will be a subprime lender...they make WAY more money in soaking their members with fees than they do on transactions (so why would you expect them to change?)

"What's in YOUR wallet?"

Sorry, somebody had to say it.

CSRbuddy said:I got a $500 or $600 limit when I responded to an offer in the mail recently. Promptly cancelled it (though I advise against doing that based on the opinions here about credit scoring).

why do you advise against it? from what i understand, closing a new $500 account should have almost no negative impact on your credit score.

closing an account will lower your amt of total revolving debt. so if you closed a card with a high credit limit that may cause your debt % to go, and that could have a negative impact. if you close an account that's been open for a very long time, that can have a negative impact as you wouldn't have as lengthy a history.

unless im missing something, i can't see any negative impact of immediately closing a $500 account for most people.

dynein said:CSRbuddy said:I got a $500 or $600 limit when I responded to an offer in the mail recently. Promptly cancelled it (though I advise against doing that based on the opinions here about credit scoring).

why do you advise against it? from what i understand, closing a new $500 account should have almost no negative impact on your credit score.

closing an account will lower your amt of total revolving debt. so if you closed a card with a high credit limit that may cause your debt % to go, and that could have a negative impact. if you close an account that's been open for a very long time, that can have a negative impact as you wouldn't have as lengthy a history.

unless im missing something, i can't see any negative impact of immediately closing a $500 account for most people.

You are right. Closing it probably had very little effect on my score at the present considering it is a new line (closing in effect increased the average age bringing me back to where I started) and has a small limit. The damage was already done when I applied for the card and the inquiry(s) were made. However it's important to keep an eye on the long-term. Most likely I may go back to Capital One someday (though I don't like to admit it ) and if instead I had just been patient and kept my card, I could build up a larger limit over time albeit slowly. This will ultimately lower my utilization all else being equal and possibly empower me for the BT game later on. I guess the main point is that most of the credit score damage was already done by applying, and closing would likely make little to no difference to my score in the short run, but keeping the card can improve it in the longer term through various ways (e.g. lower overall individual and total utilizations).

First, you need to understand what will be on your credit report.

1. C1 CANNOT see you spend $6,000 per month from your credit report. On your credit report, there only shows your CURRENT balance of each card.
2. C1 CANNOT tell you pay off your balance every month. Again, all they can see is your current balance of the accounts. This means if you spend $6,000 per month and pay off after you get billed, every month you'll repeatedly have $6,000 balance on your credit report.

Some creditors will limit the CL when they see on your credit report that you already have a large amount of credit. In addition, you are repaying a big education loan and a 30-year mortage, not to mention you may also have high credit utilization on the other accounts. Even though the impact of mortgage and student loan is minimal to your credit score, the amount of your credit line is really at the creditor's discretion.

dynein said:i applied for a C1 card last week to take advantage of 0% apr for a year. after pulling all 3 of my credit reports (!), seeing FICO(FAKO?) 700+ on each of them, they gave me a credit limit of a whopping $1,000. what's up with that? they have all of my reports. the can see that i spend about $6000 per month using credit cards, and that i pay the balance in full each month.

are they just trying to get me to not use the card or something? this card also happens to give miles away - did they look at my spending and say "hey, this guy will get free flights pretty quick, let's try to get rid of him" ?

or is there some sort of red flag on me that i'm not seeing? (about 100k total in open lines, no negatives, 700+ FICO, 6 figure income (yay!), 6 figure educational debt(boo!), but 30 years to pay it off at 1 point something % (yay!).)

i called to cancel before even activating the card, and it took at least 10 minutes to navigate to where i could get a real person on the line. now i see why everyone says that C1 sucks.

c1 ever do this to anyone else?

tazmania99 said:
In addition, you are repaying a big education loan and a 30-year mortage,


what, i have a mortgage? and a 30 year at that? my god!!! when did this start? i hope i'm not in trouble, because i haven't been making payments or anything. if you don't mind telling me, where is this house that i have the alleged mortgage on?


the amount of your credit line is really at the creditor's discretion.
no wai! are you sure about that? i thought that people got to pick their own credit lines.

I just applied and got a $20,000 credit limit with Cap1 but only $6k with Discover Card. Seems pretty arbitrary to me.

i have $5000.00 never tried to get an increase from them....i am with them since 2002 and i dont use this card much

My first CapOne card (received 9/2003) came with a 22,100 line, a FIXED interest rate for purchases and BT at 4.99%, no fees for BT, and no fee purchase checks attached to every statement. Pretty sweet deal. Whenever I call the reps always perk up when they see the great terms (funny actually). I rarely carry a balance on it, but I frequently use it to move money around. My score at the time was low-mid 700 and about 20,000 outstanding CC debt. Perfect 10 yr payment record on my report. Income about 100K. Seems like they wanted to grant me just enough credit to move all my other CC debt to it. It's still my highest personal CC limit.

Once my overall CC utilization temporarily shot way up and they called me wanting to lower my limit. They asked how much I could pay off right away and then lowered the limit to just above that amount shortly thereafter (about 12,000 if I recall). They said after I paid it down I could write or fax them back in a month or so and they would restore the limits again (I did, and they did). That's the worst thing I can say about them. Prime rate has gone up so much since 2003 that I thought for sure they would jack the fixed rate but they have not. They have been a good issuer and I'm surprised to hear about how crappy they are from other posters.

I recently did app-o-ramma and accepted a business CC from them for the 0% intro offer. The limit was only $7000, while BOA extended 25,000 to me the same day. Their's was the smallest line I received from the app-o-ramma.

Getting off topic a bit, the business card they gave me has a 60 day grace period, which means I could make a purchase and not have to pay for it for up to 90 days interest free. Can anyone think of any clever way to leverage that? The cash rewards aren't anything special so I don't think I will have any use for it after the 0% period. Right now I pay all my purchases in full every month on other various rewards cards.