I was trying to call up Capital One to find out more about my change of terms and while strugling through phone menus, came across "Increase credit limit" choice which I tried out. The message that came with that was somethinkg like "Capital one does not accept requests through automated phone system or through our representatives. Capital One regularly evaluates your credit history and will increase the limit as it finds fit." Not verbatim, but that's what it said.

I've had the card for 6 years and the limit started off at $5000 and while I did not use it for the last year, it went up to $5500 and they upgraded me to Platinum status. So that's the story on the card.

None of my other credit cards have anything like that. My AMEX I can request increase online, others by phone. Here I am confused as to what kind of evaluation Capital One would "regularly" do beyond looking at my spending history. It seems to be a systematic approach but there is an off change that I got a "preferential" treatment.

Anyone has a similar experience?

crap one issues a lot of useless $300 limit cards, and they just direct ppl to a recording bc they dont want ppl wasting CSRs time asking for an increase

didYOUsearch said:crap one issues a lot of useless $300 limit cards, and they just direct ppl to a recording bc they dont want ppl wasting CSRs time asking for an increase

Actually as in a previous thread about this 4 months ago this may or may not be the case. Some people get decent limits. Some people don't I started with $500(reg card) and now have $7500 with 0% offers all the time. It has been upgraded from reg to gold to plat with no annual fees as well and my total credit history (5+ yrs) entact.

When they are willing to grant you the increase they will say you been approved for .... If they aren't willing to this say they don't accept requests through the phone system (when changes when they do grant you the request 4 or 5 months later)

They don't pull hard for CLI but when applying they pull all 3 CRA (or sometimes 2). If you can take the hit, that $300-500 card may turn into a good card 5 years from now. Also while BofA is better when you change cards you losew history. Not so for Cap One (one good thing about them)

http://www.fatwallet.com/forums/messageview.php?catid=52&threadid=554885&highlight_key=y&keyword1=capital+one

summitsix said:crap one cards are utterly useless and are best disposed of in a shredder. Low credit lines, membership fees, reporting the high balance as the credit limit, mediocre rewards, and lousy BT offers. The question is why carry a card from them at all?

The reality is, this company makes the bulk of its profits from the people who can least afford it; the most financially illiterate among us.

Now that their US Card market is flattening and growing sequencially only low single digits, they are gaining traction in health, auto, and heloc's. But the customer base remains the same, mainly those who don't know any better.

Cap1 is a great buy for investors and continues to be. It is a polar opposite for it's customers.

Not true. Those who have bad credit can get their low limit card with annual fees and build up to a reg card. This is the WalMart liberal theory. If it's not a high paying job, it shouldn't be a job. But like those in our society who need the WalMart job(thousands applied for 300 jobs), there are people who need a cap one card. And they do not gorge like other places ($300/yr for $100 credit card, etc)

And I am proof. I went from a $500 card when I didn't have established credit to a $7500 card.

Almost certainly better to have taken out 29-30K and then if concerned about credit score paid it below 50% CL right away.

Cap 1 has Subprime and Prime accounts. Those commercials with David Spade are for soliciting new Prime accounts, although it used to be you only qualified if you were invited.

For those with Subprime, the only way to get a CLI is often to say you'd like to close your account, at which point you'll generally be transferred to the Retention department. This can be risky and can backfire...