6 Things NEVER To Write On Capital One Credit Limit Increase Applications
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- เผยแพร่เมื่อ 29 พ.ค. 2023
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I have an old platinum card with a 300 line they congratulated me on a 300 increase to a total of 600 😂 I filled out an application for the savor one it said I qualified for the good credit version with 10k limit. But the platinum is still standing fast in the 100s for years
Don’t feel bad I’m the exact opposite. I have a venture X with 30k and just applied for the savor one and they gave me a big ole 5k even though my income has gone up since I got the VX
Doesn’t matter what you put at this point, they do NOT care lol - capital one is the worst when it comes to CLI’s…
Ya, Capital One is 🗑️!
I feel ya!! 😅😅
@@CheekyBird790 19yrs?! I believe it! But I’m sure that person is ONLY keeping that account because of how long he/she has had the card… 19yrs looks good on their profile!
They've been good to me. However, they have been stingy since the pandemic started and stopped giving me automatic limit increase.
Exactly
Thank you for the amazing info. I know I'm in the bucket. My oldest card from 2017 is bucketed UGH. Be Blessed!
Very useful info - subbed!
This was helpful , thank you !
It’s easier to get an increase on the venture x because you’re not in the lower tier bucket to qualify for that card. If you tried another card like the quick silver or regular venture card you would get denied for sure
Great to know info! Thank you!
You're welcome!
I followed your advice and got an increase after being denied the last 3 times. Thank you! Got a new subscriber
So good to hear. Congratulations!
Did some research before my first manual credit limit increase request on my Venture X and I'm so glad I found your videos! Thought I'd share my experience so others can have a data point. I was approved for a $30k credit limit about 6 months ago when I first got the card. Today, 6 months later, I followed the steps in this video by requesting $45k and stating I'd be charging $15k/month (~30% of $45k). I was instantly approved for a $40k credit limit ($10k increase). Thanks for the solid tips!
Congrats 👏🏾🎉 that's so good to hear! and thanks for the data points.
Do you actually put 15k/mo on CCs? I don't understand why anyone would want a limit over 10k on a single card.
@@I..cast..fireballit's all about purchasing power. You rather have it and not use it then need it and not have it.
@@I..cast..fireball you really never want to have a utilization over 30%. So if your limit is only $10k and you spend $3k, your credit score takes a temporary but significant hit. That's why a $30k limit is desirable--you could put up to $9k without dinging your score.
@@plus790I'm aware of the 30%, but my understanding is that's for your total limit across all cards. And is you have say 3 cc with 10k each, you can spend 10k and be below 30%
Hey Cal, great video with a lot of great advice for requesting credit line increases..
Thanks Kristophe!
Great information for beginners. I did I need to pay myself through my business. Thanks for information Gusto...
Subscribed!
I have $25k cards from Chase and Amex. Still sitting at $3K on a Cap1 card I’ve had for years. They keep offering me new cards but I’m trying to manage 5/24 to get a Marriott Bonvoy for a Ritz card transfer. I also hate the 2 bureau pull thing they do. If they want more of my spend, they could just up my CLI. Pain in the….
Might have to upgrade to the venture card
Top lines for most cards are 50 k
Thanks for the step by step instructions. I followed the instructions and receive an increase.
That's awesome! Congrats and thanks for sharing.
Amazing info! First time asking for a credit line increase and I got 100$ increase with my cap one platinum, I didn't expect much lol. Recently got my union plus cap one card with a decent limit. Ill be checking for that increase in 6months! Thanks for the tips!
Great information
Glad it was helpful!
Wow.... I just got denied for a credit limit increase literally four hours ago.
*Note to self* Wait for Cal post his videos before making a move lol 😂. Guess I'll try again in a few months.
I had 3 cards bucketed for years. I paid two off 2 and canceled them. Month later asked for cli and they doubled my limit.
Note of caution. Don't split your rent payment if you are also including the income of the person you are splitting it with. Thats double dipping. Probably better to include the whole rent, and the other person's income then to include half the rent and just your income.
I came here to say this exact thing. You can't double dip. Either claim their income (you should really only claim the amount of their portion of the rent and bills) or only put the amount of rent you pay, but not both.
After watching your video, I instantly got my credit limit doubled. Thank you!
Edit: how often do you suggest asking for an increase?
Thanks Cal always dropping some great advise... Love it...
30k is not the VentureX's top limit. I'm not sure what it is but my limit was 20k upon receiving, then 6 months later I'm at 40k. I feel like there's still room for growth
Very good 2 know
I heard it also has to do with your credit report when they do the soft pull. So of course make sure your score goes up as well as losing inquiries and not having too high balances.
I got a huge laugh today when I went to watch this for the first time the ad that came on was a Capital One business card....
Well TH-cam is funny like that. If you look at a video about capital one, most likely the ad will be capital one 😂
Do you suggest to ask for an increase with zero balance or a balance of some kind?
I have a Cap1 Synchony Walmart card. They never approved a CLI in my 10+ years with them. Thinking of dumping this card. Sure, my score might take a hit, but I'd rather do business with companies that appreciate me as a customer
Hey buddy don’t dump them and get a credit drop. I had the same issue with them so I just put my car insurance and light bill on auto pay to keep the years and keep the card open pay it off before closing date. You win and no interest payed to them. Got a 2500 increase in 3 months out of nowhere. Hmmm I wonder why 😂
I always get auto approved when I request an increase on my quicksilver card. I actually choose the long term expense option but I've never been denied. However, they only increase by about $1500 or so each time so I wait a month or two and apply again. I was approved yesterday to $5800 from $4300, so🤷♂️
Your limit was decreased? Did your income decrease or rent increase?
@@pinaynana No. It was increased from $4300 to $5800. I was saying that I always get auto approved but never really over $1500 at a time. When I first got this card my limit was only $2000
I was given a $2k credit limit on a high 6 figure income with a 760 credit score. Basically was a wasted hard pull - can’t even put normal (for me) purchases on the card.
You should dispute the hard pull cause on Capital Ones site it clearly says that requesting a credit limit will not end in a hard pull.
I tried all these tips and still no credit line increase with an 800 credit score.... Totally bucketed
On which card
Exactly! I always put retired and I was at 819 credit score. I have several cards with the capital one, but the lowest they would never increase it! I would ask for a credit line increase every month sometimes every three weeks or so… And I was told that I have low utilization, and that is because I never spend more than 10% on that card. I was under the impression that this card was bucketed, and Capital One is very stingy and to my surprise I got an email yesterday, telling me that my credit card has been increased! I have had this card for at least six years and it never moved from $1500. It is the lowest of all my cards. My credit score is now down to 799 and the increase was $3000… So now $4500 on this quicksilver! Go figure…
What if you are disabled and on SSDI and receive a monthly check? Can I put employed? They don't have an option for me. Thank you
Wish I would have watched this video and learned not to use self employed first. I just got denied. How long should I wait to try for an increase again? I do Doordash so I'm not sure how to get a W2. I have to file a 1099. What do you suggest? Do the LLC example in your video or something else? I'd like not have to do an LLC for this.
I’m not spending 300.00 or more . I don’t care if they decrease or raise it .. the debt is not worth it
You dont understand. The reason u wanna raise the limit is not to use more. Its to show u have more credit limit so it looks better on your report and the better your report looks, your doors open.
Im self employed. I dont have LLC. I dont pay muself like u explained. Should i put self employed? Cause i dont have any other option, do i? And will that mean i will be declined,
And, if i get declined, will that show as a negative mark in my credit report?
Or, if i ask for credit increase for other cards i have, will those be able to see i was declined for capital one increase?
Hey buddy. How long do I have to wait till I apply after being denied the increase?
What happens if you have “zero” as rent because you live with your parents? They ask for your rent. Is zero believable on their end (even though it’s the truth?)
What about Capital One Platinum?
My question is. Can I just close my credit account without affecting my credit score. I just opened an account for the secured platinum but got denied for my checking account.
How can I remove retired from my credit report
Wow I didn’t know it could go up to 23000. That’s a lot .too much for me
I don’t agree. Capital One never gave me any problem with an Increase as I was rebuilding my credit after my bankruptcy. The initial was 1k, then 5k after 6 months, then 12k after the first year, and I kept that amount for quite a while. Eventually the next increase was 22k. Even after my bankruptcy fell off I was able to get another increase. For building credit the most important thing is to have many credit lines available. Use one card only except when you use your other cards once a year for gas or something you’d be buying anyways and pay it off immediately.
Damm that’s happening to me right now …. I found that error and I saw this video too late
Hi! Great vid! I have the Quicksilver without annual fee. Its $500 limit. I use 10-20% every month and pay it off monthly. Is it ridiculous to ask for $8k raise?
My score is 741.
No negative marks of anything.
100% payment history of 19 yr mortgage
They will never raise your limit if that is all you use. They want you to use almost all of it, just make sure you pay it off before they report to your credit so your score doesn't drop
Good information, but I am curious if low usage of the card can affect the outcome. I tried a few times and each time I got denied. My card has a zero balance, because I use my NFCU flagship instead of my CO Venture card. Can the fact I don't use the card cause my denial? To be fair, I do have my truck financed with CO. My CS is at 650 now, but it was higher, it dropped because I had a hard inquiry for my refinance with NFCU. I ended up not accepting the offer from NFCU because their offer did not beat what I currently have with CO.
If your not using the card, they could lower your cl or close the account
You have to use your card monthly to qualify for CLI. I pay my utilities and internet bill monthly on my Capital One card. I immediately pay my credit card bill after each transaction. This keeps me from accruing interest and I also earn points. I receive an automatic CLI due to this yearly.
I just got my card how long should I wait till I ask for a credit line increase?
6 months.
Whoa how many cards does this GUY have?
What about the Household Income bruh with all your Families
Self employed people usually make more money than the average, don't they?
Many people who own their own businesses make hundreds of thousands or even millions.
So I don't agree with the logic behind penalizing self employed people.
Is it even true? Has anyone really checked into this?
Sometimes I think TH-camrs just repeat what they heard from some other TH-camr.
I tried got too many revolving accounts reason
Do my Quicksilver card need to be paid off before requesting a credit limit increase? Right now its at 85% utilization. Does it matter?
It does!, make sure h pay off ur card and it’s posted before u do the request.
@@ambermichellenope9549 Thank you.
How often can i request an increase? Once a week? Every other week?
Once a month after your statement cuts.
Should your current balance be paid off before requesting an increase? If not what should it be percentage wise?
Yes. Whenever you ask for a CLI, that card shouldn’t have a balance. That’s goes for any credit card, NOT just capital one.
You’ll have a better chance at getting the increase with NO balance. Do what makes SENSE to you…
If there was a 10 rules of CCs. One of them is Never carry a Balance over 10% of its limit.
wow
Is it a soft pull
Didn’t work.
They raised the limit on my Quicksilver from $500 to $2500 last year. I applied for an increase this year because I wanted it closer to $5000. Basically followed all of your tips, but was refused because the last increase was "too soon". Any idea how long I should wait before trying again?
I would say at least 6 months!
my credit score is currently 750 and my my credit card balance is currently at 0. is it good idea for me to asked for increase or just leave it alone?
Ask for increase every 6 months
Do capital one pulls from all 3 bureau ?😢😢 need to know
They definitely do
But not for requests of credit limit increase. In their site it says they dont do a hard pull for that.
If I have a discover it credit card with a 300 credit limit what can I ask for when it’s time to increase?
I don't know the answer but I have only $15k fixed income and have a $2k limit on that card.
You can ask for a increase every 31 days … it works for me ✌️
The thing is that.. what IF you are unemployed? Lmfaoo
Why would anyone want this limit high?
When I get my death sentence I'm maxing everything out. That's why
@@hulkimania😂
Why all you guys brag about your credit limit you don't use it. You can't afford to use it.
Fax. I guess just in case to accrue medical debt once plan stops covering (then file bankruptcy). Seems to be the American way.
@calbarton which Capital One credit card gives you high limits. I've done the Pre-approval and I'm eligible for multiple cards. But I want a card with high credit limits, help ne choose but no Annual Fees
After watching the video you did a few days ago. I messaged you saying I'm gonna follow your steps to a credit limit increase. Top column for income I put straight what I made last yr which was $48,865. I put I am employed. My rent exactly which is $743.91. The column where it said how much will I spend a month, I put $1,500. I asked for $10,000 ✅. The last column asked this reason. I said I expect higher expenses later on. I know they not 🚫 going to grant what I ask for. But @tleast make the increase decent
What happen
@@bengreen8265 I'm still waiting on a decision ❓
@@CreasyEQ- bro?? You got us all here waiting with anticipation. How much did they give you?
@@shill1444 One time Capital One offered me a $100 credit limit increase 💯. I turned it down👇 💯. I felt like $100 credit increase was a joke, that wasn't funny 😠 😡. The sad 😢 part is. I received two credit line increases from my credit union months, apart in the same yr❗When I don't use there credit card. I called Bank Of America, they granted me a $2,400 credit limit increase a month ago❗My credit union to my surprise just up my credit limit another $2,000 ❗I'm thru with Capital One bro 💯. Had not I opened this credit card 3yrs. And now 👂 to Velocity Banking. I would have cut ✂️ it up just like I said I would 🤝
10 mins explaining on why to pick employed
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