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Scoring a higher credit limit can have a lot of great perks, from freeing up more money to finance a large purchase over time to reducing your credit utilization ratio. As long as you don’t let a high credit line tempt you into taking on more debt than you can pay off, it can be quite beneficial. If you have a Capital One credit card, asking for a higher credit limit is incredibly simple. In many cases, you can even receive a higher limit without having to ask. Read on for everything you need to know about how to request a credit limit increase with Capital One. Eligibility requirementsCapital One evaluates several different factors when approving cardholders for higher credit. To maximize your chances of being approved, we recommend you meet the following criteria.
Before you request a credit limit increaseBefore you request a credit limit increase, it is important to make sure you have all the information necessary to complete the process. First and foremost, land on a number for the credit limit you want. Consider what you want from your credit line. Do you need a certain amount to pay off a big purchase over time? Could an increase reduce your credit utilization a percentage point? How much credit is too much for you to pay off? With the answers to these questions, decide what credit limit will work for you. We recommend against asking for too much at once. In general, a 10% to 20% increase is a reasonable request. If you try instead to double or triple your current limit, it could seem like a desperate grab for money you can’t pay back. You should also have a good idea of how you look to lenders before asking for a bigger credit line, so pull a free credit report and check your credit score before you make the request. Finally, use your card responsibly in the months leading up to your credit limit increase request. Make all your payments on time and avoid carrying a balance whenever possible. Capital One will be more likely to extend you more credit if you demonstrate you pay back what you borrow. Process for requesting a credit limit increaseAfter you have a good idea of the credit limit you are going to request and your qualifications, you are ready to ask for more credit. With Capital One, there are three different ways to score a bigger credit line. Automatic credit limit increasesIn many cases, Capital One will automatically increase your credit limit if you consistently pay your bill on time. This is especially true with the issuer’s credit building and student credit cards, which advertise the opportunity for a higher credit line after six months of on-time payments. Requesting a higher credit limit onlineOne of the easiest ways to request a credit limit increase is through your online account. Simply log in to your account on the Capital One website or app and click “Request credit line increase” in the “I want to” section of settings. (Note this option can be found via your profile page in the mobile app). From there, you’ll be prompted to enter information including your income, employment status and the credit line you want. In many cases, your credit limit increase can be approved immediately after you submit this online request. However, you might have to wait a few days for an official response. Calling customer serviceOne more way to request a credit limit increase on your Capital One card is over the phone. Call the customer service number listed on the back of your credit card and ask to talk to a representative about a higher credit line. If you take advantage of this option, you should be prepared to argue your case for more credit. Make sure any information you gathered before the call is ready and available. Mention any changes to your situation that might warrant more credit. These may include a higher income, a balance you want to transfer or a large purchase you want to finance. You should also bring up your positive history with Capital One, pointing to your payment history and how long you’ve been a customer. You should always stay away from requesting a higher credit limit just to take on more than you can pay off. Like with an online request, the customer service rep might approve or deny your request immediately – or take a few days to review your account. No matter which avenue you take to request a higher credit limit, Capital One evaluates your eligibility based on a soft pull to your credit. That means that it won’t affect your score (hard pulls can knock it down a few points). Because of this, there is little risk to asking for a higher credit line, even if you aren’t fully confident in your chance of approval. If your credit limit increase is denied, don’t worryWhile the process for requesting a higher credit limit with Capital One is easy, you aren’t guaranteed approval. If you’re denied, don’t stress. Ask the customer service representative why you weren’t approved, and focus on improving your chances for next time.
Pros and cons of a higher credit limitFor cardholders who still aren’t sure if a credit limit increase is a good idea for them, here’s a quick look at the pros and cons. Pros:
Cons:
Bottom lineWith a simple online form and plenty of other avenues for requesting more credit, Capital One makes it easy to request a higher credit limit. If you are considering putting a larger purchase on your card to pay it off slowly – or you just want to improve your credit utilization ratio – asking for a credit line increase can be a good strategy. Editorial Disclaimer The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners. Emily Sherman is a senior editor at CreditCards.com, focusing on product news and recommendations. She is also one of the founders of To Her Credit, a biweekly series of financial advice by women, for women. When she's not writing about credit cards, she's putting her own points and miles to use planning her next big vacation. How do I get Capital One to increase my credit limit?You may call the number on the back of your Capital One credit card to request a credit limit increase. Alternatively, personal cardholders may call 1-800-227-4825, and small business cardholders may call 1-800-867-0904.
Can I increase my Capital One credit line?Generally if you make substantially more than your minimum monthly payment on time for three months you can reapply for a credit line increase. Add AutoPay and customized alerts to help you make more than your minimum payment on time each month. Use CreditWise from Capital One to help monitor your credit score.
How likely will Capital One increase credit limit?Cardholders in good standing (e.g. good credit score, consistent on-time payments) may also receive an automatic credit limit increase once or twice a year. If requesting an increase from Capital One, approval can happen immediately or could take up to 30 days to process.
What is the highest credit limit on Capital One?Which Capital One Card Has the Highest Credit Limit? Among consumer cards, the Capital One Venture X Rewards Credit Card comes in first, with reports of a $75,000 credit limit, outflanking the other consumer cards from this issuer.
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