Sorry, Just saw sferik’s link. That is news to me.
gailcalled ( 54194 ) “Great Answer” ( 0
Yeah echoing gail and sferik here-the credit markets are a bit shaky right now, not sure how much leverage you can have in trying to ‘muscle’ or massage an increase from Cap One;
You could try applying for another credit line with another competitor? Maybe some other company may want your new business bad enough to sweeten the deal with an extended credit limit…I would talk to someone though as gail had suggested.
Lastly, check with your own bank’s credit dept or with a credit union (esp. if your employer is affiliated with a credit union)-they may also want your business as well. Lastly, research your credit history and find out if you’re payment cycles and balance histories are working to your advantage (i.e. not carrying forward large balances month-to-month, etc.). You may be able to ascertain more if you know your credit score/history on paper…
P.S. If you have any other assets, i.e. homeowner, other monetary assets, these might be items that can influence a creditor’s decision in granting a credit increase, even in the case of ‘unsecured’ credit lines.
sndfreQ ( 11707
) “Great Answer” ( 0
chase bank credit cards are easy and raised my limit so high I had to tell them
to lower it in fear that I actually use it. Try them out.
gooch ( 5704
) “Great Answer” ( 0
all the suggestions above should be helpful for you in general, but to answer your specific question about capital one: capital one’s policy is to NEVER give user-requested credit line increases (CLIs). capital one automatically reviews your credit periodically and decides to give you a CLI when they feel like it. they will not give you one when you ask for it, even when your financial situation changes.
the solution, as explicitly detailed to me by a capital one representative when I pointed out how obviously flawed this policy is, is to open a new card. when you open a new account, they’ll review your credit from scratch (keep in mind this will be a hard pull of your credit history) and will take into account current income, etc.
if you’ve had your old capital one card for a long time, make sure NOT to close the old card when you open the new one. having any credit card in good standing for a long time is a positive factor in your credit score. (this is in fact the only reason I’ve kept my capital one card at all, since I’ve had it over a decade. I now put about 1 purchase on it a month and then pay just to stay current.)