I would like a Capital One card with a high credit limit

It seems that most Capital One cards have stingy credit limits. But some people have managed to get fairly large limits

I'd like to get one of their cards, just to diversify my portfolio. However, I don't want to bother just to get a chump CL.

Besides factors that help for any card (high income and good credit score), is there any trick to it? Maybe a particular credit Capone card yields better results than others?

markkundinger said: It seems that most Capital One cards have stingy credit limits. But some people have managed to get fairly large limits

I'd like to get one of their cards, just to diversify my portfolio. However, I don't want to bother just to get a chump CL.

Besides factors that help for any card (high income and good credit score), is there any trick to it? Maybe a particular credit Capone card yields better results than others?

--- I never heard of diversifying a portfolio of cards --- is this some kind of strategy?

Just be wary of the checks. The purchase checks are the ones you want, the preferred checks are those you want to avoid!

maybe the capitalone no-hassle business card that doesn't report to any credit bureau i got 20K line and get those checks like discovercard-business. Use them just like a charge, no cash advance fee, no CASH APR rate.

business cards get the most "same as purchase" checks, mang. Chase is pushing these things too but the checks have been slim pickins'. All have given me at least 1 year 0% Purchase/BT to some extent.

None have reported on bureaus. my score must be very high 700's cause all my balances went to zero except the mortgage.

requesting a large BT at the time of application seems to help get a large CL with CapOne, but again this is not always the case.

SUCKISSTAPLES said: requesting a large BT at the time of application seems to help get a large CL with CapOne, but again this is not always the case.

I second SIS statement as I tried this method and got successful every time I applied.

I know it's been discussed elsewhere, but are there limits on purchase checks, like for instance, provisos against depositing into a bank account, or using them to pay another credit card? I know the Discover business card frowns on that.

Also, it does appear that just stumbling onto their website and applying for a card won't get you a 0% deal. I guess I'd need to get one of their crapton of mailers.

markkundinger said: I know it's been discussed elsewhere, but are there limits on purchase checks, like for instance, provisos against depositing into a bank account, or using them to pay another credit card? I know the Discover business card frowns on that.

Usually the first check comes written out to you already, so the certainly encourage depositing into a bank account. (Remember, after grace, its up at normal 18% APR).

markkundinger said: It seems that most Capital One cards have stingy credit limits. But some people have managed to get fairly large limits

I'd like to get one of their cards, just to diversify my portfolio. However, I don't want to bother just to get a chump CL.

Besides factors that help for any card (high income and good credit score), is there any trick to it? Maybe a particular credit Capone card yields better results than others?

Mark, are you getting ready to AOR again? If I remember right, you did it about a year ago (same as me.)

sonnysighedup said:
- credit report/credit score: getting these as clean and as high as reasonably possible goes without saying, but I think this is more so the case with Capital One. You are, after all, sacrificing three inquiries by taking the Capital One leap. On the other hand, I do think that Capital One is looking for more prime/super-prime customers these days to somehow shed their image of being exploitative, to get regulators off their back, and to "balance out their credit portfolio for securitization purposes" (I don't really understand this last point, but it sounds sophisticated.).

Cap1 is looking to go upmarket, they are still a little skewed downmarked from most other companies. As far as your last point. It basically means they have a lot of crap, too much for it to be in their securitization (asset backed credit card bonds) master trust, so they finance it through other means, which is also more expensive. The securitization master trust (COMET) has a % limit on sub-prime, say 30%. Any amount above that can't be sold into COMET. The more prime assets you have (and less sub-prime), the more you can shove into COMET and the cheaper funding you get. The cheaper funding you get, the more excess spread they get (more interest income over their funding costs), the more revenue and cashflow Cap1 gets.

Cap1 doesn't allow high balances because they feel that it allows them to "step up" over time with proven credit histories. This was called into question when it was reported in the news that they were offering multiple cards to some people, negating the strategy.

markkundinger said: I know it's been discussed elsewhere, but are there limits on purchase checks, like for instance, provisos against depositing into a bank account, or using them to pay another credit card? I know the Discover business card frowns on that.

Also, it does appear that just stumbling onto their website and applying for a card won't get you a 0% deal. I guess I'd need to get one of their crapton of mailers.

I got 0% for a year on the business card, just went to their site and applied. No promo or mailing.

afeld said:
Be careful, make sure you have a grace period. I get some convenience checks all the time from Cap1, I finally decided to max out my card to get my High reported on my credit report last time. I called, and they said that although there are no fees involved, there is no grace period on the convenience checks. You pay 18 (or whatever your APR is) right out of the gate. This was on a Platinum Cap1 card.

This is good info. Thanks. I just received my first ever purchase check from Crap1 after I own the card for 13 months. I was going to deposit the purchase check to make the high limit reported. It looks like I better be very careful.

Here's what I look for on the terms that come with CapOne checks: "will be treated as purchases". Given that, I received the usual grace period even when depositing into checking.

cardjuggler said: Here's what I look for on the terms that come with CapOne checks: "will be treated as purchases". Given that, I received the usual grace period even when depositing into checking.

I used my convenience checks to max out my card so it would report the limit. Once they sent me a pair of BLUE and ORANGE checks. One had a low interest for BT and the other I forget what it was. I considered applying for their new rewards card since they add an extra 25% at the end of the year to your rewards balance, but I figured I'd get the three hard pulls and the low limit.

Two questions.

1.This pulls from all three bureaus, correct?

2.For the miles card, can you transfer miles to your FF accounts. Or do you use their system to make purchases. If it is their system, how is that?

steveme said: 1.This pulls from all three bureaus, correct?

yup. and after all that (and magically misspelling my first name) they gave me a CL of $2000. i don't think i have any other cards with a limit under $10k, with a few over $30k ... only moderate utilization, no derogatory information on the credit reports.

yah you either fall in the low credit range of crap1 or the high credit range of crap1. it's a pretty much given that 10K+ is prime and the rest are subprime. subprime will usually never turn into prime cards.

i just got the 20K limit no hassles business for the intro APR.

Just a note of caution about CapitalOne:

http://www.washingtonpost.com/ac2/wp-dyn/A25109-2004Dec24

and

"Capital One does not disclose its customer's total credit limits to credit reporting agencies. However, a customer's highest amount of credit used is reported. Fair & Isacc, the creators of Fico scoring, partially base a consumer's credit score on their revolving credit utilization rate, or the current balance divided by the credit limit of all of revolving credit accounts. By reporting highest credit used vs. total credit utilization rates are impacted, within the FICO model a rise in utilization rates rises will lower consumers credit scores. The end result is that many, but not all, customers have lower FICO scores."
(Wikipedia)

mhesidence said: but occasionally its "upto" $20,000. I'm tempted to try a 20K BT when I get those

I got a "pre-approved" Cap1 business offer with "up to $100,000" credit limit. I applied for $50,000. I got a total CL of $500, with 3 hard inquiries on all the major bureaus.

Three years later, after several CL requests, the total Cl is $2,000. Some of my other cards are $50,000 CL.

Cap1 is rarely worth it.

rigor said: yah you either fall in the low credit range of crap1 or the high credit range of crap1. it's a pretty much given that 10K+ is prime and the rest are subprime. subprime will usually never turn into prime cards.

i just got the 20K limit no hassles business for the intro APR.

bump, and this...

my wife, with $300K of total CL with other issuers, received a whopping $1K of CL on her first CapOne card. She submitted a BT request of $30K. What gives? Should she request a CLI at activation? Any other tips to get out of the "subprime" category?

from another thread...

sonnysighedup said: lhendricks92 said: I wish we could figure out CrapOne's CL algorithm. The wife picked up a 1K line in her last A0R. She didn't even bother to activate it. As a data point, she requested a 20K BT, but she didn't have a targeted offer. Maybe the latter helps.

My theory is this: tiny limit (less than 1K), left-over cards from BofA and Juniper put her in CapOne's subprime bucket, despite having several 30K+ CL lines with a variety of issuers. I wouldn't be surprised if these low limit lines cause harm in some lenders' proprietary models, even though they don't affect FICO.

lhendricks92, do you remember what kind of FICOs(FAKOs) & number of inquiries your wife had before applying? I don't think you need a targeted offer to get in good with CapOne (though I bet it helps), but I do think scores and inquiries (and perhaps number of new accounts) make a big difference.

Her EQ FICO was around 770 with about 10 new accounts in the previous 12 months. No EQ or TU inquiries and about 4 from EX.