Does Capital One ever raise credit limits!?

[Heracles 417]

Just for reference, I am the USC in the relationship. I figure that might be important, since our spouses generally enter the country with little-to-no credit rating.

Anyway... I've had a Capital One Platinum Signature Visa card for two years now and they have yet to raise my credit limit. As of right now, it's set at $5,000. Well, that's all fine and good to start out at, but I had imagined that after using it for a while (and believe me, I do use it quite a bit!), Capital One would be very willing to raise my credit limit. Unfortunately, nothing could be further from the truth.

Whenever I ask to have my limit raised, the response is always the same: "We're sorry, but we're not authorized to do that. Capital One is a conservative lender and in due time, all accounts are reviewed. If your account is considered to be in 'good standing' we will then notify you and raise it."

So apparently, Capital One lacks the ability to raise the credit limit on their own cards. Why do I have trouble believing this? In addition, they've told me time and time again, that card holders cannot request a credit limit raise; instead, Capital One chooses if and when to raise the limit. I suppose the card holder just has to sit there, twiddling his or her thumbs.

Perhaps I should make it clear that I have never missed a payment and that I have always paid my statements in full. I have an outstanding credit rating, so I'm hardly a risk.

I do receive plenty of other useless junk, however. Oh yes... I get a virtually endless supply of offers for "generous loans" and "checks" from Capital One, none of which I either need or want. Paper shredders are such useful tools, aren't they?

Now you might be asking yourself, "If he's had this much trouble with them, why doesn't he ditch them and get himself a different card?" Well, that's a good question. The answer is that I have tons of miles stored on this card account and Capital One doesn't charge a conversion fee when using their credit cards in foreign countries. If it weren't for those two areas of interest, I'd cancel this card's account toight and use my Bank of America WorldPoints Visa. At least BoA has never refused to raise my limit.

Ahh Capital one.. The second I saw your thread tittle I just cringed. Where do I start with those clowns. They started me off with a $500 credit limit.. I used them for a while because of their 0% international transaction policy but kept on receiving over the limit fees because of the $500 limit. I tried explaining to them um I have a citibank card with 20 times the limit but they would never budge. Same BS excuses. Card is now goooooone..

Ever tried getting a car loan through those clowns. Same bloody ####. They charge a $15 express paperwork fee. So if they give you a bad offer. To bad, they have already sent out the paper work. They offered me 12.75% on a car loan. I called them up and told them um Bank of America also approved me at a rate of 4.95%. Gave me the standard response about the rate reflecting bla bla bla.

[William33 110]

Why use credit cards at all? Credit Status? BS....

Pay as you go, with a Checking account Visa card, as we do. No interest, with a very high limit (based on savings balance) with no hassles.

We do carry a Lowes card, to capture the 12 month interest free offers. Well, we also carry a Target card, to exploit the 10% coupons they offer on occasion.

Otherwise, the regular cards offer zero benefit to us. Revolving credit sux.

Edited April 19, 2008 by William33

[Heracles 417]

Citibank and BoA have been really good to me.

[Heracles 417]

Why use credit cards at all? Credit Status? BS....

Pay as you go, with a Checking account Visa card, as we do. No interest, with a very high limit (based on savings balance) with no hassles.

We do carry a Lowes card, to capture the 12 month interest free offers. Well, we also carry a Target card, to exploit the 10% coupons they offer on occasion.

Otherwise, the regular cards offer zero benefit to us. Revolving credit sux.

Come to the dark side..

Edited April 19, 2008 by Boo-Yah!

[*JG* 2]

Capital one is run by the DEVIL!

[Heracles 417]

How can you resist this card: Titanium Centurion Card

[Niels Bohr 72]

Only wish that we don't need credit to finance a house, but, capitalism doesn't work like that. We need to pay interests. Geezes. The bank borrow money from the central bank. The borrowee pays a fee known as the prime to the central bank, then they add additional interest for their own as well to the consumers.

I rather buy the US Treasury Bills, Notes, Bonds at a discount than to use credit. Heck the US Treasury is auctioning the 10,000 bond for $9000 at 6 months maturity. Once it's matured, I would've earned another $1000. Should've gotten that one.

Edit: It's not 9000, it's 9900. But still, it's still alot of money.

Edited April 19, 2008 by consolemaster

[William33 110]

How can you resist this card: Titanium Centurion Card

Yeah, that is the one I need....

We can buy anything we need and travel the world on our plan....The revolving credit cards offer no real benefits, other that to the issuing companies.

[mawilson 2,133]

Why use credit cards at all? Credit Status? BS....

Benefits (travel, car insurance) + cash back (up to 3%)

I rather buy the US Treasury Bills, Notes, Bonds at a discount than to use credit. Heck the US Treasury is auctioning the 10,000 bond for $9000 at 6 months maturity. Once it's matured, I would've earned another $1000. Should've gotten that one.

Or if you had bought $10,000 worth of GOOG yesterday, you'd have had $12,000 today.

[cmartyn 0]

Why use credit cards at all? Credit Status? BS....

Benefits (travel, car insurance) + cash back (up to 3%)

I rather buy the US Treasury Bills, Notes, Bonds at a discount than to use credit. Heck the US Treasury is auctioning the 10,000 bond for $9000 at 6 months maturity. Once it's matured, I would've earned another $1000. Should've gotten that one.

Or if you had bought $10,000 worth of GOOG yesterday, you'd have had $12,000 today.

Yeah but the way things are going that 12,000 today is worth what 10,000 was yesterday. Ha. Well, FIAT money system is designed to keep the people poor and the banks rich.

I used credit cards to enhance my credit rating to lower my interest rate when buying a home. Its also convenient for stuff when you are traveling.

The check card is ok but limited. The trouble with a check card is it is attached to your bank account so if you are out one day and want to buy something that costs more than you have in your bank account at that time you can't buy it. Thats lame. Especialy if that something is on sale or a unique find or costs a lot.

[Ursa Tripudio 2]

Exactly the same!!!

No credit card has ever made a dime off me. They all hate me, I'm one of those terrible people who pays the balance every month.

Knowing (hoping) I'll need to buy Li & her son air tickets from China to America this summer, I asked Capital One to raise my limit above $5000. What a joke!

I also have so many miles on mine that I can't dump 'em immediately. Soon, I'll get an air ticket from them and they're done.

[Niels Bohr 72]

If you work minimum wage at most jobs, most likely those jobs are low level jobs that gives an average of 2% raise. Inflation is annually at a rate of 5% (CPI Index) yearly. Therefore, you are right at indicating the poor will always be poorer since you will get paid less than last year at the difference of about 3%. That 3% is obtained from 5%-2%. High!

If you work a salary job, for example, Level 1 Engineer (entry level) at 40k for Boeing. You will gain raise increase about 2x/year. Not only that, you may also get bonuses which values between 500-5000 dollars yearly. This will give you higher than 5% raise, thus, you will become richer. The benefits of higher education in the US will earn you higher pay. Therefore, you will never be poor with a degree this beneficial. Bragging!

Obtaining a credit will give you more power for your future if you have the money. It may seem trivial not to have one.

[Ursa Tripudio 2]

The benefits of higher education in the US will earn you higher pay. Therefore, you will never be poor with a degree this beneficial.

May many young people listen to you!

[cmartyn 0]

Define poor. Being forced to labour all day every day for someone to make enough money to pay to the bank to buy a house = poor in my book. It certainly isn't middle class or wealthy. Hounourable in a twisted way but still poor.

[DeadPoolX 9]

Exactly the same!!!

No credit card has ever made a dime off me. They all hate me, I'm one of those terrible people who pays the balance every month.

Knowing (hoping) I'll need to buy Li & her son air tickets from China to America this summer, I asked Capital One to raise my limit above $5000. What a joke!

I also have so many miles on mine that I can't dump 'em immediately. Soon, I'll get an air ticket from them and they're done.

Yeah, as soon as I can pay for an airline ticket, I'm cancelling the card. It pisses me off that I'd need to use the card more in order to do that, but if I cancel the card now, all of those miles go right down the drain (which is an even greater loss).