The Capital One Platinum credit limit is $300 or more, depending on your creditworthiness. So as long as you’re approved for the card, you’re guaranteed at least a $300 spending limit. But if your credit score and income exceed what Capital One is looking for, you could definitely start off with a higher limit. For example, some users have reported starting with Capital One Platinum credit limits of $500-$1,500.
Keep in mind that you aren’t stuck with your starting Capital One Platinum credit limit forever. Capital One may increase your limit if you consistently make on-time payments. You can also request an increase yourself. Many users report their limits increasing over time.
Here’s what you need to know about Capital One Platinum credit limits:
You’re guaranteed a credit limit of at least $300 if you’re approved for Capital One Platinum.
Capital One Platinum only requires limited credit for approval. If you have good credit or a lot of income relative to your debt, you’ll likely start with a higher limit. Some users report getting $500-$1,500 initially.
Capital One will review your account for a possible credit limit increase after you make your first 5 monthly payments on time. You can help your chances by paying more than the minimum each month. Things that will hurt your odds include having already gotten an increase in the past six months, being past due on a different Capital One account or using very little of your credit line.
You can request a credit limit increase yourself by calling customer service at 1 (800) 227-4825 or by logging into your Capital One account and choosing “Request Credit Line Increase” from the “Services” tab. You’ll have to provide information about your income and employment for Capital One to make their decision.
So you’ll get $300+ from Capital One Platinum to start, and using your card responsibly will provide opportunities to increase your limit. But it’s best not to ask for an increase before five months of on-time payments, as you’ll probably be denied.
According to the card’s terms, you’re guaranteed a credit limit of at least $300. The Capital One Platinum card is designed for people who are new to the credit game. Limits for this type of cards tend to be on the lower end, so $300-$500 for a new cardholder would be a fair estimate. A small credit limit is better than no credit card at all when you’re trying to improve your credit. And that's this card's main purpose: building credit.
The typical credit limit for new cardholders starts at $300. Of course it all depends on your credit score, but you'll probably start out with no more than $500.
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